Automated Material Handling Equipment Market expected to be worth $76.8 billion by 2026

(IT-NEWSWIRE.COM, February 03, 2021 ) According to the new market research report on the "Automated Material Handling Equipment Market by Product (Robots, ASRS, Conveyors and Sortation Systems, Cranes, WMS, AGV), System Type (Unit Load, Bulk Load), Industry (Automotive, Metals & Heavy Machinery, E-commerce), and Region - Global Forecast to 2026" The automated material handling equipment market size is expected to grow from USD 43.6 billion in 2021 to USD 76.8 billion by 2026; it is expected to grow at a CAGR of 12.0% from 2021 to 2026. The key factors driving the growth of the market include growing demand for ASRS in e-commerce due to COVID-19, and increasing presence of start-up companies offering robotic solutions for warehouse automation.

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“Product-wise, Robots segment held the largest market size of overall automated material handling equipment market in 2020“

The robots segment held the largest share of the global automated material handling equipment market in 2020. Implementing robots significantly increases the efficiency and productivity of manufacturing companies and warehouses. Using robots can reduce labor costs, protect employees from injuries, and provide a high return on investment. Such advantages are fueling the demand for robots in manufacturing units and warehousing facilities. Material handling tasks, such as pick and place or palletizing, are among the most mundane and repetitive tasks performed by human workers. The advantages of implementing robots for such repetitive tasks have been realized by manufacturing and warehousing facilities during the COVID-19 pandemic. Thus, the robots segment is expected to hold the largest share of the AMH equipment market post-COVID-19 as well.

“System Type-wise, unit load material handling system segment to grow at highest rate from 2021 to 2026”

The growth of the unit load material handling system segment of the automated material handling equipment market can be attributed to its cost-effectiveness and ability to handle several items simultaneously, thereby reducing the number of trips, the time required for loading and unloading, and the cost of handling. The increasing demand for automated material handling equipment in the e-commerce industry is expected to fuel the market of unit load material handling systems during the forecast period. Owing to the COVID-19 pandemic, the AMH equipment market faced a bump in its growth. However, it also created awareness amongst the manufacturers and warehouse operators in the ecommerce, automotive, and semiconductor and electronics industry regarding the benefits of unit load material handling systems. Thus, an increase in the adoption of such equipment in these industries is expected.

“Industry-wise, automotive segment held the largest market size of overall automated material handling equipment market in 2020”

The large market share of the automotive segment of the automated material handling equipment market can be attributed to the need for constant availability of components and spare parts, just-in-time (JIT) delivery of materials, and reduction in the cost of unproductive labor are driving the growth of the automotive industry segment. Automotive is amongst the most innovative industries in terms of using automated equipment. The industry has shown remarkable resilience from May 2020 to December 2020. Although the industry had faced a downfall in sales during the first two quarters of 2020 owing to the COVID-19 pandemic, the market has rebounded to deliver year-over-year growth in new vehicle sales over the last months of 2020. The automotive market of Europe and the US is expected to achieve the pre-COVID-19 level by the end of 2022. Meanwhile, China has already rebounded, nearing the pre-COVID-19 level, with the potential to achieve 30 million new vehicle sales by 2025.

“APAC to record highest CAGR from 2021 to 2026”

APAC is expected to witness the highest growth rate during the forecast period. Rising awareness related to warehouse automation, increasing emphasis of leading economies such as China and Japan on robotics and automation, and the growing e-commerce industry are some of the primary factors contributing to the largest market share of APAC. The rapid growth of automotive, ecommerce, food & beverages, and healthcare industries in emerging economies, such as China and Japan, has contributed to the growth of the AMH equipment market in APAC. Moreover, governments in APAC countries are increasingly emphasizing safety on production floors, which can be best achieved by the implementation of AMH equipment. The market is witnessing rapid growth in countries such as China and Japan, owing to increasing investments by manufacturers and suppliers in the installation of such equipment at warehouses and distribution centers.

Major players involved in the automated material handling equipment market include Daifuku (Japan), KION (Germany), SSI Schaefer (Germany), Toyota Industries (Japan), Honeywell International (US), Hyster-Yale Material Handling (US), Jungheinrich (Germany), Hanwha (South Korea), John Bean Technologies (US), KUKA (Germany), Beumer (Germany), KNAPP (Germany), Murata Machinery (Japan), TGW Logistics (Austria), and Viastore (Germany).

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Automated Material Handling Equipment Market expected to be worth $76.8 billion by 2026