The global automated material handling equipment market size is anticipated to reach $114,45-billion by 2030, projected to grow at a CAGR of 9,7% from 2024 to 2030, according to a new report by Grand View Research.
The increasing labour costs in many countries are driving the demand for AMH equipment, which is replacing manual labor.
It helps companies save costs by reducing the need for manual labor and increasing productivity. Further, e-commerce has created a need for faster and more efficient material handling systems.
Automated material handling (AMH) equipment is used in e-commerce warehouses to handle large volumes of orders to ensure products are delivered to customers quickly and accurately.
Technological advances have also made it possible to develop more sophisticated AMH equipment that is fast, accurate, and reliable. These systems use sensors, artificial intelligence, and machine learning to automate material handling tasks.
Automated storage and retrieval systems can significantly reduce variable costs by eliminating the need for manual labor for tasks such as assembly, picking, storing, and inventory replenishment. Warehouses and distribution centres require the regular replenishment of raw materials, work-in-progress, and finished goods inventories to maintain uninterrupted processes, making shelf arrangement and grouping critical.
Efficient space utilisation is vital for the bottom line of warehouses and distribution centers.
Labour shortages are compelling organizations to seek robots to ensure their stability. Industries such as janitorial services, commercial and home delivery, food and beverage, healthcare, and manufacturing are expected to benefit from autonomous mobile and collaborative robots.
Technologically advanced countries such as South Korea and Japan are at the forefront of manufacturing next-generation AMH equipment.
Other highlights of the automated material handling equipment report include:
* The robots segment led the market in 2023, accounting for over 24% share of the global revenue owing to the integration of artificial intelligence and machine learning technologies in robotic systems.
* The unit load material handling segment held the largest revenue share in 2023 due to its ability to streamline supply chain operations and move materials more efficiently across long distances.
* The e-commerce segment led the market in 2023. The adoption of AMH equipment in the e-commerce industry is expected to increase significantly in the coming years as companies such as Amazon, eBay, and Alibaba strive to remain competitive and meet customer expectations.
* The Asia Pacific region held the largest revenue share, over 39%, in 2023. The region’s flourishing manufacturing and automobile sectors are expected to spur the demand for automated material-handling equipment.