Market Research Future (MRFR) highlights in its latest research report that the global automated material handling market 2020 is projected to rise tremendously over the review period, achieving a significant market valuation and a substantial CAGR over the review period.
Drivers and Restraints
Such equipment has evolved rapidly in recent years, with the adoption of technology has undergone many significant transformations. Clearly, producers are the driving forces for making such improvements happen. Taking into account the three goals, they have set up a variety of automated equipment such as cranes, conveyors, elevators, lift and lift truck track cranes, stackers, bridge cranes and monorails, port cranes and helicopter lifts, etc. In this field, technical advances have slowly taken advantage of practical and cost-effective approaches leading to the automation of such equipment. These innovations have unprecedentedly accompanied their market value, making these devices accessible and widely adopted.
Other factors which contribute to market growth include rising automation across manufacturing industries. The ever-growing need for resource utilization and raw material use drives the demand & adoption of Automated Material Handling Equipment. In addition to factors such as continuous technological growth, manufacturing plant modernization, and industrial base expansion in developed countries, automated material handling equipment supplies fuel for business development.
The major market players operating in the global market as acknowledged by MRFR are Daifuku Co. Ltd (Japan), Schaefer Holding International (Germany), Murata Machinery (Japan), Dematic (U.S.), Mecalux (Spain), Vanderlande Industries (U.S.), Swisslog AG (Switzerland), BEUMER Group (Germany), Kardex (Switzerland), Intelligrated (U.S.), among others.
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The global market geographic synopsis was analyzed in four major regions, including North America, Europe, Asia Pacific and the rest of the world.
The Asia-Pacific region dominates the Automated Material Handling industry because of the presence of numerous manufacturing plants in the various countries in the region. Most of the APAC nations are in their phase of development and are thus open to foreign investors, thereby enabling the production unit in these countries to be accessible to multidomain international players. The Asia-Pacific area is also expected to expand significantly in Equipment for Power Quality (PQE) space. Furthermore, automated material handling enables material processing and production, particularly in the e-commerce market.
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