Automated Material Handling Market estimated to grow at a CAGR of 9.43% to reach US$40.958 billion by 2024
Automated material handling (AMH) refers to any automation that reduces or eliminates the need for manual labor to do a certain task. Automated Material Handling system is an integrated system which involves activities such as handling, storing, and controlling of materials. The system is properly designed to ensure the minimum cost and compatibility with other manufacturing equipment while meeting the safety concerns. Automated material handling solutions eliminate the need for manual labor to perform different tasks such as sorting and optimizing among others.
According to the report, the Automated Material Handling Market is projected to increase at a CAGR of 9.43% over the forecast period.
Growing focus on the workforce safety in hazardous working environments is the major driver of automated material handling market. Stringent government regulations to ensure proper safety of workers in different countries is significantly encouraging employers to opt for automation solutions at workplace. For example, in the U.S., OSHA (Occupational Safety and Health Administration) ensures that employers must comply with all applicable standards while employees work in a safe and healthy environment. High number of workplace injuries has also led to the adoption of automated material handling solutions across various industries. According to the U.S. Bureau of Labor Statistics, workplace injuries have declined by 25 per cent in 10 years due to the advent of advanced technologies at workplace. Growing e-commerce industry is another major factor that is boosting the demand for automated material handling systems and solutions. This has been on account of additional requirement of warehouses and solutions which can assist in improving business process efficiency while lowering the operational cost.
Geographically, automated material handling market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America and Europe hold significant market share on account of early adoption of automated solutions across various end use industries on account of strict regulations and standards regarding workers’ safety. Labor shortage is another factor that is driving the demand for automated material handling systems in countries like U.S. and Canada. APAC will witness a significant market growth rate during the forecast period owing to the booming e-commerce industry in countries like China and India.
Some of the major players covered as part of the report are BEUMER Group, Daifuku Co., Ltd, Swisslog Holding AG, Siemens AG, Konecranes Plc, and Murata Machinery Ltd. among others.
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This report segmented the automated material handling market on the basis following terms
- By Product
- Automated Guided Vehicle
- Towing Vehicle
- Unit Load Vehicle
- Pallet Trucks
- Fork Trucks
- Hybrid Vehicles
- Light Load
- Assembly Line Vehicles
- Custom AGVs
- Others
- Automated Storage and Retrieval System
- Unit Load
- Mini Load
- Horizontal Carousels
- Vertical Carousels
- Robotic AS/RS
- Others
- Automated Guided Vehicle
- By Industry Vertical
- Manufacturing
- Healthcare
- Chemical
- Paper
- Food and Beverage
- Warehousing
- Others
- By Geography
- Americas
- USA
- Canada
- Brazil
- Mexico
- Others
- Europe Middle East and Africa
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Others
- Middle East and Africa
- Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Others
- Americas
