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The global automated material handling equipment market size is projected to reach USD 56.51 billion by the end of 2027. The presence of several large scale companies will have a massive impact on the growth of the overall market. According to a report published by Fortune Business Insights, titled “Automated Material Handling (AMH) Equipment Market Size, Share & COVID-19 Impact Analysis, By Type (Automated Storage & Retrieval System, Automated Conveyor & Sorting System, Automated Guided Vehicle), By System Load (Unit Load & Bulk Load), By Application (Assembly, Distribution, Transportation, Packaging, Others), By Industry (Retail & E-commerce, Automotive, Food & Beverages, Pharmaceutical, Aviation, Semiconductors & Electronics, Others) and Regional Forecast, 2020-2027,” the market was worth USD 35.80 billion in 2019 and will exhibit a CAGR of 5.7% during the forecast period 2020-2027.
Automated material handling equipment are tools that are used to large as well as heavy materials in a manufacturing or production unit. The increasing use of machinery and equipment in several countries across the globe will bode well for the growth of the overall market in the coming years. Increasing need for automated concepts and the growing use of technologically advanced products in heavy machinery and equipment will create several growth opportunities for the companies operating in the market. The increasing investments in the development of low-cost automated material handling equipment will have a positive impact on the growth of the overall market in the coming years. The rising construction and building activities across the world will also emerge in favor of the growth of the companies operating in the market.
Brose Fahrzeugteile GmBH & Co. KG Announces Hefty Investment in AGV Installation
The report highlights a few of the major industry developments of recent times and discusses their impact on the global market. Accounting to the massive potential held by automated material handling equipment in several countries across the world, companies are investing huge sums in the integration of these products in their production units. In April 2019, Brose Fahrzeugteile GmBH & Co. KG announced that it will be installing automated guided vehicles in its Coventry center. The company announced that it will be investing heavily in the integration of AGVs, encouraged by the efficiency of the products. Through the integration of automated guided vehicles, the company will look to speed up the movement of finished goods, thereby eliminating human error. Brose Fahrzeugteile GmBH & Co. KG’s latest step to integrate AGVs will encourage other companies in this sector, subsequently contributing to the growth of the overall market in the foreseeable future.
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Rise of E-commerce Industry will have a Huge Impact on Market Growth
The rise of the e-commerce industry in the past decade has been pivotal to the growth of the global market. Increasing e-commerce activities create the need for warehouses and subsequently, equipment to handle such heavy machineries. Recent advances in the manufacturing of automated material handling equipment will have a positive impact on the growth of the overall market in the coming years.
Major Companies are Focusing on Logistics Businesses
Accounting to the increasing applications of automated material handling equipment across the world, companies are looking to offer innovative products. Having said that, the focus on product innovations is not sufficient in the global market, that has shaped up as a consolidated market in recent years. As a result, most companies have now shifted their focus on extending their service offering in other sectors, with logistics among the favorites for large scale companies.
List of companies profiled in the report:
The global market is segmented on the basis of:
Value (USD Billion)
By System Load