DUBLIN--(BUSINESS WIRE)--The "Automated Material Handling (AMH) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The Global Automated Material Handling (AMH) Market is expected to register a CAGR of 12.7% over the forecast period from 2021-2026.
The COVID-19 pandemic, which hit the major regions, like North America, Europe, and Asia-Pacific, severely influenced the market's growth during 2020, as almost all production, logistics, and warehouses were under lockdown seized activities. As a result, the operations in these industries are expected to resume and reach a previous optimal position over the course of the next few months. However, the demand in certain industries, such as electronics, retail, and automotive, is expected to decline and recover by 2021.
Automated material handling is a concept derived from material handling practices, which uses several types of machinery to help workers in a manufacturing establishment move the product under construction between assembly stations or moving completed goods to storage facilities. With the advent of technology, these tasks were taken over by machines, creating a market for automated material handling. In the current market scenario, enterprises are increasingly focusing on adopting diverse technologies for their business operations to reduce the overall costs and gain a competitive advantage over their rivals.
Enterprises are focusing more on adopting diverse technologies for their business operations to reduce their overall costs and gain a competitive advantage over their rivals. As a result, vendors of material handling solutions gradually veered toward the modern approach of helping end-users focus on their operations' space and time utility by manufacturing flexible systems that seamlessly integrate with other systems as part of the overall material handling plan.
For instance, AS/RS emerged as one of the most dynamic solutions in material handling equipment. They are mainly deployed in warehouses and distribution centers. Despite gaining initial traction in the manufacturing sector, other sectors, such as food and beverage and life sciences, gradually realized the benefits of using AS/RS across various phases in the supply chain, ranging from mundane to complex tasks.
Further, developing countries in Asia, such as India, are investing in material handling equipment significantly. According to the Wisconsin Economic Development Corporation, the Indian market for materials handling equipment (MHE), accounting for about 13% market share of the country's construction equipment industry, witnessed significant growth in the recent past.
Moreover, various research projects, such as Stuttgart's ARENA2036, are focused on developing better systems for material handling. In today's warehouses or production lines, almost all the facilities are supported by simulations that predict the possible problems in the system before actual implementation, which aid in saving cost and wastage for the company. In addition, the latest developments, such as remote tracking, predictive maintenance, and downtime tracking, enabled better and efficient logistics.
Additionally, manufacturers are employing automation to attract the millennial workforce, promoting automated material handling in conjunction with employment growth. According to the National Association of Manufacturers' Manufacturers' Outlook Survey, about 68.8% of respondents confessed that their top business challenge is the inability to attract and retain a quality workforce. Around 75% of respondents said they have unfilled positions within their company that they struggle to fill with a qualified applicant.
The automated material handling market is fragmented and highly competitive in nature. Some of the major players are Daifuku Co., Ltd, Kardex Group, KION Group, JBT Corporation, Honeywell Intelligrated amongst others. Product launches, high expense on research and development, partnerships and acquisitions, etc. are the prime growth strategies adopted by these companies to sustain the intense competition. Some of the recent developments are:
1.1 Study Assumptions and Market Definition
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.4 Impact of COVID-19 on the Market
5.1.1 Incremental Technological Advancements Aiding Market Growth
5.1.2 Industry 4.0 Investments Driving the Demand for Automation and Material Handling
5.1.3 Rapid Growth of e-Commerce Sector
6.2.2 Automated Storage and Retrieval System
6.2.2.1 Fixed Aisle (Stacker Crane + Shuttle System)
6.2.2.2 Carousel (Horizontal Carousel + Vertical Carousel)
6.2.4.1 Conventional (High Level + Low Level)
6.3.4 Retail/Warehousing/Distribution Centers/Logistic Centers
7.1.10 System Logistics S.p.A.
7.1.12 BEUMER Group GmbH & Co. KG
For more information about this report visit https://www.researchandmarkets.com/r/dfs9j7
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