According to the new market research report "Automated Material Handling Equipment Market with COVID-19 Impact Analysis by Product (Robots, ASRS, Conveyors and Sortation Systems, Cranes, WMS, AGV), System Type (Unit Load, Bulk Load), Industry and Region - Global Forecast to 2027", the automated material handling equipment market size is projected to grow from USD 28.8 billion in 2022 to USD 45.1 billion in 2027; it is expected to grow at a CAGR of 9.4% from 2022 to 2027. The growth of the automated material handling equipment industry is driven mainly by demand for ASRS in the e-commerce industry due to the onset of COVID-19.
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Browse 225 market data Tables and 72 Figures spread through 285 Pages and in-depth TOC on "Automated Material Handling Equipment Market with COVID-19 Impact Analysis Industry and Region - Global Forecast to 2027"View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/automated-material-handling-manufacturing-market-92483121.html
ASRS segment to hold the largest share of the market during the forecast period.
ASRS accounted for the largest share of the automated material handling equipment market in 2021. ASRS offer benefits such as reduced space and labour utilization, improved supply chain efficiency and productivity, real-time inventory control at a lower cost, error-free fulfilment, and rapid storage and retrieval of items. The deployment of ASRS is increasing, as these systems help warehouses and manufacturing companies improve their production capacity and order accuracy. The COVID-19 pandemic brought with it supply chain disruptions, inventory shortages, and shipping and logistics restraints. Due to these factors, many warehouses and distribution centers initiated the consolidation of warehouses to align with the needs of their customers, a trend expected to be followed by more warehouse operators. Consolidation of warehouses results in storing many packages in a small space. This would drive the demand for ASRS.
3PL industry to grow at the highest CAGR during the forecast period.
The 3PL segment is expected to grow at the highest CAGR during the forecast period. Factors such as the need for efficient order management, increased outsourcing of logistics and transportation operations, and globalization of supply chain networks have fuelled the adoption of AMH equipment in the 3PL industry. With the global lockdowns following the outbreak of COVID-19, the online retail industry has flourished, and the potential of 3PL has also been witnessed by the e-commerce industry. This factor is expected to fuel the demand for AMH equipment in the 3PL industry during the forecast period.
Asia Pacific to grow at the highest CAGR from 2022−2027.
Rising awareness related to warehouse automation, increased emphasis of the 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 higher share of Asia Pacific in market. The rapid growth of automotive, e-commerce, food & beverages, and healthcare industries in emerging economies, such as China and Japan, has contributed to the growth of the automated material handling equipment market in Asia Pacific. Moreover, governments in Asia Pacific countries are increasingly emphasizing safety and security on production floors, which can be best achieved by the implementation of automated material handling 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.
The key players operating in the automated material handling equipment market include Daifuku (Japan), KION (Germany), SSI Schaefer (Germany), Toyota Industries (Japan), and Honeywell International (US) among others.
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