Automated Material Handling Equipment Market Size, Share, Competitive Landscape
The global automated material handling equipment market, valued at $22.5 billion in 2014, is projected to reach $39.1 billion by 2022, growing at a CAGR of 7.1%. Driven by rising demand for automation in industries like e-commerce, automotive, and food & beverages, the market benefits from technologies such as robotics, wireless systems, and driverless vehicles. These innovations reduce operational costs, enhance supply chain efficiency, and minimize labor expenses. The e-commerce boom, emphasizing rapid delivery and minimal waste, significantly fuels demand.
Market growth is further supported by industrialization in emerging economies like China, India, and Mexico, where automated conveyor systems and transport equipment are increasingly adopted. However, high initial installation costs pose a challenge, particularly for heavy manufacturing. Despite this, advancements in energy-efficient robotic systems and vision-guided vehicles enhance precision, safety, and throughput, promising future cost reductions.
By product type, robotic systems dominated in 2015, driven by cost efficiency, while automated conveyor systems, holding one-fifth of the market, are expected to reach $7.6 billion by 2022 at a 6.5% CAGR. Storage applications lead due to improved inventory control and reduced labor costs, with aviation showing the highest growth potential. North America and Asia-Pacific are key regions, with companies like Daifuku Co. Ltd. and Siemens AG innovating to meet demand. The market’s recovery post-COVID-19, aided by vaccine rollouts, supports full-scale operations, with emerging markets offering lucrative opportunities for growth.