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The gradual shift from manual to automated warehouses operations is revolutionarizing the material handling and logistics industry. In such scenrio, the market for shuttle systems is gaining impetus owing to growing number of warehouses & distribution units across the globe. According to Euromonitor forecast for global e-commerce, around 2.3 billion square of new warehousing space will be required by 2035. For instance, in November 2019, Landmark Group invested around USD 0.27 billion to open its fully-automated Mega Distribution Centre (DC) at JAFZA, Dubai. The Mega DC is designed to process 300 million units per year and is installed with 1,300 ‘robotic multi shuttles’, 94 Lifts and 28 workstations. Similarly, labor scarcity manifests, manufacturers focus to reduce post-manufacturing operations costs to gain early return on investments and manage cash outlay is further contributing to the market growth. Besides, emergence of intuitive technologies embedded in shuttle systems mainly data-driven technologies, including for automated motion control, PC-based control systems, integration of intelligent and smart sensors for practical maintenance platforms, automated shuttle replacement and an intelligent diagnostic tool is likely to fuel the product demand in the future times. For instance, in September 2020, Swisslog introduced CycloneCarrier shuttle system to meet the rising e-commerce industry. This systems delivers a data-driven distribution center solution that cuts hardware costs 25% in warehouses. Apart from innovation, the outbreak of COVID-19 pandemic has dramatically slashed the economy leading to market ambiguity. In the short term, national lockdowns enforced e-commerce retailers, warehouses and distribution partners to shutdown its logistics hubs and stores. However, in the long term, surge in online spending, demand for warehouse space soar, massive investments from internet retailers and their delivery partners in anticipation of further sustained growth are the factors further responsible for driving shuttle systems market.
Key Market Driver -
• Evolution of various technologies embedded in shuttle systems • Rising labor cost across the globe is driving the market
Key Market Restraint -
• Steep costing at initial stage is hindering market growth.
Some of the key competitors in the shuttle systems market includes KNAPP AG, Vanderlande Industries, SSI Schaefer AG, Liebherr Group., Jiangsu Huazhang Logistics Technology Co., Ltd, TGW, GEBHARDT Fördertechnik GmbH, stow-group.com, BEUMER GROUP, KION GROUP AG and others.
Asia Pacific holds a dominant position in the shuttle systems market owing to presence of Chinese authorized and unauthorized local players operating in the market. In addition to that, increase in manufacturing capacities and adoption of innovative material handling methods to enhance production capabilities in many regions mainly South Korea, China, India, Taiwan and others is propelling the growth of the market.
Followed by Asia Pacific, North America and Europe are anticipated to witness substantial growth in the forecast period, owing to the increase in sales from this region through e-commerce market. Further, demand for durable and non-durable goods is enabling manufacturing companies to integrate advanced shuttle systems to meet up the growing demand further fueling the market.
The Middle East and Africa and South America is expected to have a moderate growth in the shuttle systems market owing to demand of automated warehouse practices in this region. Also, massive foreign direct investments from online retailers to setup warehouse facilities to cater the unattended market.
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