Automated Material Handling Equipment Market by Product (Robots, ASRS, Automated Conveyors and Sortation Systems, Automated Cranes, AGV), System Type (Unit Load, Bulk Load), Software & Services, Function, Industry, and Region - Global Forecast to 2023
Northbrook, IL -- (SBWIRE) -- 01/02/2018 -- The research methodology used to estimate and forecast the automated material handling equipment market begins with obtaining data on key vendor revenues through secondary research such European Materials Handling Federation, Materials Handling & Management Society (MHMS), Automated Material Handling Systems Association Ltd. (AMHSA), Material Handling Equipment Distributors Association (MHEDA), and leading players' whitepapers. The vendor offerings have also been taken into consideration to determine the market segmentation.
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The bottom-up procedure has been employed to arrive at the overall size of the automated material handling equipment market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with people holding key positions in the industry such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.
The automated material handling equipment ecosystem comprises of OEMs, software and services providers, end-user industries, and distributors of automated material handling equipment. The players involved in the development of automated material handling equipment are Daifuku Co., Ltd. (Japan), Hyster-Yale Material Handling, Inc. (US), Jungheinrich AG (Germany), KION Group AG (Germany), and Toyota Industries Corporation (Japan) among others.
The factors driving the growth of the market include the reduction in labor cost through the advancement in robotics, growing emphasis on safety of workers on the production floor, rising e-commerce industry, and the increasing need for automation in various industries.
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"Robots to hold the largest size of the overall automated material handling equipment market by 2023"
Robots accounted for the largest share of the automated material handling equipment market in 2016. The end-user industries using robots in their production processes have typically seen a significant transformation in their productivity and efficiency with higher levels of output, product quality, and flexibility. The Qianmo robots were deployed by Shentong Express Co., Ltd. (China), a Chinese shipping company. With the implementation of Qianmo robots, Shentong Express Co., Ltd. was able to reduce 50% of labor cost.
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