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Automated Material Handling Equipment Market Size

Report ID: GMI4277
Published Date: May 2024
Report Format: PDF

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Automated Material Handling Equipment Market Size

Automated Material Handling Equipment Market was valued at USD 67.5 billion in 2023 and is estimated to register a CAGR of over 7% between 2024 and 2032, driven by the continuous wave of product innovations and leading product launches. With the rapid advancement of technology, manufacturers are developing more efficient, intelligent, and versatile AMHE solutions. These innovations are reshaping industries by enhancing productivity, reducing operational costs, and ensuring workplace safety.

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Leading companies are investing heavily in research and development to introduce technologies such as robotics, artificial intelligence, and IoT integration into their AMHE products. Additionally, the growing need for automation in various sectors, including manufacturing, logistics, and e-commerce, is fueling the demand further. As a result, the AMHE market is experiencing robust growth globally, and this trend could continue in the foreseeable future.

Automated Material Handling Equipment Market Report Attributes
Report Attribute	Details
Base Year:	2023
Automated Material Handling Equipment Market Size in 2023:	USD 67.5 Billion
Forecast Period:	2024-2032
Forecast Period 2024-2032 CAGR:	7%
2032 Value Projection:	USD 124.4 Billion
Historical Data for:	2021-2023
No. of Pages:	250
Tables, Charts & Figures:	300
Segments covered:	Product, Application, End-use
Growth Drivers:	Expanding e-commerce and logistics industries in Asia Pacific Rising labor costs and the inconvenience of employing a manual workforce in Europe Increased warehouse and distribution center investments Increasing technological innovations and the adoption of automation in manufacturing activities Growing demand for automation from SME in North America
Pitfalls & Challenges:	Lack of awareness of equipment operation

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The booming e-commerce sector is fueling demand for AMHE as companies strive to meet the increasing demands for fast and accurate order fulfillment. Automated systems enable efficient order picking, sorting, and packing, facilitating faster turnaround times and improved customer satisfaction. With the rise of online shopping, warehouses, and distribution centers are under pressure to handle large volumes of orders efficiently, driving the need for automated material handling solutions to cope with the demands of e-commerce fulfillment.

The automated material handling equipment market faces several restraints hindering its growth. High initial investment costs pose a significant barrier, limiting adoption, especially among smaller businesses. Also, concerns over job displacement and the need for retraining of workers create resistance in industries where automation is being introduced.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automated material handling equipment was reached USD 67.5 billion in 2023 and is projected to expand at over 7% CAGR from 2024 to 2032, due to the increasing demand for automation in warehouses, logistics, and manufacturing industries.

The manufacturers segment in the automated material handling equipment market held 65% revenue share in 2023, owing to their ability to streamline material handling processes, reduce labor costs and minimize errors.

Asia Pacific automated material handling equipment market held 35% share in 2023 and is projected to expand at significant rate between 2024 and 2032, on account of the expanding industrialization, rapid infrastructure development, and increasing e-commerce activities.

Hanwha Corporation, Honeywell International Inc., Hyster-Yale Materials Handling, Inc., Jungheinrich AG, KION SSI SCHAEFER Group, KNAPP, KUKA AG, Murata Machinery Ltd., TGW Logistics, TOYOTA INDUSTRIES CORPORATION, and Viastore some of the automated material handling equipment companies worldwide.