September 06, 2022 10:15 ET | Source: Verified Market Research Verified Market Research
Boonton, New Jersey, UNITED STATES
Jersey City, New Jersey, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Automated Material Handling Equipment Market” By Product (Robots, ASRS, Conveyors & Sortation Systems), By System Type (Unit Load Material Handling, Bulk Load Material), By Vertical (Automotive, Metals & Heavy Machinery, Food & Beverages), and By Geography. According to Verified Market Research, the Automated Material Handling Equipment Market size was valued at USD 29.01 Billion in 2021 and is projected to reach USD 59.01 Billion by 2030, growing at a CAGR of 8.27% from 2022 to 2030.
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Global Automated Material Handling Equipment Market Overview
Today, the e-commerce industry is growing rapidly around the world, leading to great demand for process automation. Leading vendors such as Amazon and Walmart are increasingly integrating automated solutions to operate efficiently, accurately, cost-effectively, and securely. In addition to this, the rise of the manufacturing industry is also an important factor in complementing market growth. Factory owners are focused on producing products faster, cheaper, and of higher quality and delivering them to their customers. With this in mind, the integration of automated tool support for a more effective production cycle reduces operational costs and material waste.
The market for automated material handling equipment faces difficulties because of the sizable initial investments needed. Companies find it challenging to invest in automated material handling equipment due to the associated costs, which include installation, integration of software solutions and intelligent sensors, after-sales services, and timely maintenance. Additionally, due to low production output and investment returns, reorganization of existing warehouses, facility designs, and other factors, small and medium-sized businesses find it challenging to transition from conventional material handling to automated products.
The major players in the market are Daifuku, Siemens, Bosch Rexroth, Murata Machinery, Swisslog Holding, SSI Schaefer, Dematic, Toyota Industries, JBT, Bastian Solutions, and others.
Verified Market Research has segmented the Global Automated Material Handling Equipment Market On the basis of Product, System Type, Vertical, and Geography.
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