Material Handling Equipment Market Worth 44.68 Billion USD by 2022
PUNE, India, May 23, 2016 /PRNewswire/ --
According to the new market research report "Material Handling Equipment Market by Product Type (AGV, ASRS, Automated Crane, Robotic System, Automated Conveyor and Sortation System), System Type, Software and Service, Operation, Application, and Geography - Global Forecast to 2022", published by MarketsandMarkets, the automated material handling equipment market is estimated to reach USD 44.68 Billion by 2022, at a CAGR of 7.9% between 2016 and 2022. The factors which are driving the automated material handling equipment market include the increasing demand for automated solutions, technological developments in AMH equipment, growing focus of manufacturers toward ensuring safe working environment in warehouses, and reduction in labor cost through advancement in robotics.
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Browse 76 market data tables with 79 figures spread through 187 pages and in-depth TOC on "Material Handling Equipment Market - Global Forecast to 2022"
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"Robotic system expected to lead the automated material handling equipment market between 2016 and 2022"
Robotic systems reduce labor cost, help prevent injury to personnel, and provide high return on investment. Moreover, a robot can do the work of four manual laborers, which results in further cost reduction. Manufacturers introducing robots in their production processes have typically seen a significant transformation in their productivity and efficiency with higher levels of output, product quality, and flexibility.
"Automotive application expected to hold the largest share of the AMH equipment market during the forecast period"
Automated material handling equipment plays a vital role in the automotive industry by improving production processes, lowering labor intensity, and ensuring timely delivery of materials. AMH equipment such as AGVs, ASRSs, automated conveyors, and robotic systems are used to fulfill the manufacturers' and suppliers' requirements related to automated material handling capacity such as Just-in-Time (JIT) delivery of raw material, computerized control of received assembled parts, and tracing shipped articles within the factories and storage places.
"APAC expected to be the largest and fastest-growing market for automated material handling equipment between 2016 and 2022"
The growth of the AMH equipment market in the APAC region is attributed to the increase in production facilities and the expansion of plants across APAC countries. Furthermore, the higher adoption rate of AMH equipment across automotive, chemical, healthcare, and metal & machinery industries to ensure error-free process is expected to drive the growth of this market.
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The major players involved in the automated material handling equipment 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).
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