NEW YORK, June 6, 2016 /PRNewswire/ -- The automated material handling equipment market is expected to grow at a CAGR of 7.9% between 2016 and 2022 and reach USD 44.68 billion by 2022. The key driving factors for the growth of the automated material handling equipment market are increasing demand for automated systems, advancement in technology, reduction in labor and manufacturing costs, enhanced quality of products, improved safety and working conditions, and increased profitability.
"Automated guided vehicle market expected to grow at the highest CAGR during the forecast period"
The market for automated guided vehicle (AGV) is expected to grow at the highest CAGR between 2016 and 2022. The growth of the AGV market is mainly driven by the introduction of intelligent and customized AGVs, high throughput rates, optimization of logistic systems, increased reliability, and reduced operating costs.
"APAC to be the leading and fastest-growing market for automated material handling equipment during the forecast period"
The growth of the automated material handling equipment market in APAC is attributed to the increasing investments by manufacturers & suppliers for installing AMH equipment at warehouses and distribution centers. The increasing popularity and superior results of automated equipment are encouraging more companies in APAC to install automated material handling equipment. Moreover, the economic growth of APAC has benefited the manufacturing sector which is a primary end user of automated material handling equipment. The leading players contributing to the growth of the region are Toyota Industries Corporation (Japan), Daifuku Co., Ltd. (Japan), Murata Machinery, Ltd. (Japan), Fanuc Corporation (Japan), UniCarriers Corporation (Japan), Shanghai Zhenhua Heavy Industries Co., Ltd. (China), and Xuzhou Heavy Machinery Co., Ltd. (China).
Break-up of the profiles of primary participants for the report is given below:
- By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
- By Designation: C–Level Executives – 30%, Directors– 30%, Others – 40%
- By Region: North America - 40%, Europe – 25%, APAC – 30%, RoW – 5%
The key players in the market include Bastian Solutions, LLC. (U.S.), BEUMER Group GmbH & Co. KG (Germany), Dematic GmbH & Co. KG (Germany), Daifuku Co., Ltd. (Japan), Hyster-Yale Materials Handling, Inc. (U.S.), Jungheinrich AG (Germany), JBT Corporation (U.S.), KION Group AG (Germany), KUKA AG (Germany), and Toyota Industries Corporation (Japan).
Reasons to buy the report:
- Illustrative segmentation, analysis, and forecast for the market based on product type, system type, software and service, operation, application, and geography has been conducted to give an overall view of the automated material handling equipment market.
- The Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the automated material handling equipment market.
- The major drivers, restraints, opportunities, and challenges for the automated material handling equipment market have been detailed in this report.
- The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.
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