Automated Material Handling Equipment market: High Growth Possible During 2019-2027
A number of industrial facilities and warehouses are increasing the use of automated solutions to enhance their profits, warehouse operations, comfort as well as worker safety. Automated material handling equipment are largely used at manufacturing sites, distribution centers, retail, wholesale and institutions. Furthermore, it helps in reducing labor cost since automation of processes helps in reducing involvement of several individuals and it generally requires one person to operate such systems.
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Various industries such as automotive, metals & heavy machinery, food & beverages, and others are concerned about reducing labor intensive processes, increasing accuracy and speed for material handling. However, the high cost associated to installation of these equipment along with the overall maintenance cost is hindering the market growth as it is often not affordable for small plants to incur such costly automation.
The expansion in the manufacturing industry is further highly driven by the economic growth worldwide. Also, the industry is presently found to be in the middle of a technological renaissance, which is changing the outlook, systems and processes of the modern factory. This technological revolution in the factories has been encouraging the manufacturing industries to further invest into these emerging technologies in order to enhance their productivity and production cycle.
Manufacturing of consumer electronics, healthcare related products, automobiles, and defense industries are some of the prominent industry verticals that have been prolific in the automation integrations into the manufacturing assembly lines. Thus, the rapid expansion in the manufacturing industry coupled with automation integrations is expected to drive the demand for automated material handling equipment globally.
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The emergence of online shopping and e-commerce is resulting in bolstering the market growth for automated material handling equipment as well as the increasing adoption of automated solutions in manufacturing industries, particularly in developing economies.
Global Automated Material Handling Equipment Market - Company Profiles
Fives
Jungheinrich AG
Kion Group AG
kuka AG
Daifuku Co., Ltd.
Hyster-Yale Materials Handling, Inc.
BEUMER Group GmbH & Co. KG
Hanwha Corporation
John Bean Technologies Corporation
Toyota Industries Corporation
