Automated Material Handling Equipment Market Size Share and Forecast 2027
The global automated material handling equipment market size was USD 35.80 billion in 2019 and is projected to reach USD 56.51 billion by 2027 at a CAGR of 5.7 percent. Explore market share growth.
Automated Material Handling Equipment Market Overview
The global automated material handling equipment market is growing steadily as industries focus on lean manufacturing and Just-In-Time practices to optimize production and supply chains. Automated material handling systems improve operational efficiency, reduce downtime, and lower labor costs, driving the overall market size and share worldwide. Technologies like SLAM, IoT, and AI are transforming how warehouses and production facilities manage inventory, distribution, and transportation.
Market Snapshot
2019 Market Size USD 35.80 Billion
2027 Forecast USD 56.51 Billion
CAGR 5.7% during the forecast period
Asia Pacific holds 42.09% market share in 2019
Growth Drivers for Automated Material Handling Equipment Market
Rising Adoption of Lean Manufacturing
Growing adoption of lean manufacturing and Just-In-Time practices across industries boosts the demand for automated material handling equipment to streamline operations and minimize waste.
Technological Advancements Transforming Operations
Integration of advanced technologies such as simultaneous localization and mapping (SLAM), IoT, and artificial intelligence enhances system accuracy and efficiency, supporting market growth.
Cost Reduction and Higher ROI
Automation helps companies lower labor costs, reduce operational downtime, and achieve a faster return on investment, driving the automated material handling equipment market size upward.
Market Restraints
High Initial Investment Costs
Substantial upfront investment for installation and integration of automated systems may restrain small and medium enterprises from adopting these solutions.
Complex System Integration
Integrating advanced automation with existing infrastructure can be complex and time-consuming, posing a challenge for market expansion.
Opportunities in Automated Material Handling Equipment Market
Growth in E-commerce and Warehousing
Rising demand for efficient warehousing and distribution solutions in e-commerce creates new opportunities for automated material handling equipment providers.
Emerging Markets Expansion
Asia Pacific and other developing regions offer untapped potential for market players as manufacturing and logistics sectors expand rapidly.
Market Segmentation
By Type Automated Storage and Retrieval System Automated Conveyor and Sorting System Automated Guided Vehicle
By System Load Unit Load and Bulk Load
By Application Assembly Distribution Transportation
By Industry Retail and E-commerce Automotive Food and Beverages Pharmaceutical Semiconductors and Electronics
Top Automated Material Handling Equipment Companies
Daifuku Co Ltd
Jungheinrich AG
Toyota Industries Corporation
BEUMER Group
Cargotec
Kion Group
Crown Equipment Corporation
Honeywell Intelligrated
SSI Schaefer AG
Hytrol Conveyor Company Inc
Industry Developments
July 2023 Jungheinrich unveiled a cutting-edge mobile robot solution at LogiMAT 2023 that integrates into warehouses to autonomously solve challenges and enhance performance.
May 2023 Toyota Material Handling expanded its electric forklift portfolio with new models including Side Entry End Rider, Center Rider Stacker, and Industrial Tow Tractor.
Read the full report and insights at:https://www.fortunebusinessinsights.com/industry-reports/automated-material-handling-equipment-market-100832