DUBLIN--(BUSINESS WIRE )--The "Automated Material Handling Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Automated Material Handling Equipment Market to Reach $59.5 Billion by 2026
Amid the COVID-19 crisis, the global market for Automated Material Handling Equipment estimated at US$39.3 Billion in the year 2020, is projected to reach a revised size of US$59.5 Billion by 2026, growing at a CAGR of 7.2% over the analysis period.
Adapting manufacturing for COVID-19 crisis will require automation and Industry 4.0, which in turn will substantially increase the growth potential for manufacturing automation market. Technologies such as automated assembly lines, real-time plant monitoring equipment, and manufacturing data collection system, will gain traction among industrial enterprises seeking to manage their facilities with fewer staff.
Automated material handling equipment such as robotic systems find extended use in the aerospace industry. The use of automated baggage handling systems is gaining prominence in airports, due to the growing need for security and the subsequent adoption of stringent guidelines for ensuring the same.
Material handling in the automobile industry mostly comprises automated handling systems such as robots that are used for spot welding and related tasks. Food & beverage industry players are increasingly using automated systems for a range of manufacturing, packaging and distribution operations.
Robots, one of the segments analyzed in the report, is projected to record a 9% CAGR and reach US$30 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Automated Storage & Retrieval Systems (ASRS) segment is readjusted to a revised 6.4% CAGR for the next 7-year period.
Robots are becoming viable options for tasks where there is considerable risk to humans. Material handling robots can be used to feed, transfer or disengage tools and parts, from one location or one machine to another. The ability of robots to work around-the-clock without fatigue has extended the use of robotics in packaging applications.
An ASRS is the combination of several equipment and equipment controls which not just store and handle but also retrieve materials with a defined level of automation. ASRS can greatly save on labor costs and also accommodate specialized storage needs of warehouses. Modern ASRS are also suitable for temperature-controlled product storage and retrieval.
The U.S. Market is Estimated at $7.7 Billion in 2021, While China is Forecast to Reach $14.2 Billion by 2026
The Automated Material Handling Equipment market in the U.S. is estimated at US$7.7 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$14.2 Billion by the year 2026 trailing a CAGR of 8.3% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 6.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.5% CAGR.
Conveyors & Sortation Systems Segment to Reach $8.3 Billion by 2026
Automated conveyor systems are useful for repeated transportation of raw materials or finished goods or components in distribution centers or production facilities. Sortation systems, on the other hand, are utilized for merging, identifying, inducting, separating and conveying products to particular destinations.
The use of conveyor and sortation systems facilitates in greater efficiency in manufacturing, wholesale, retail and distribution functions. These systems aid in saving labor costs, since large volumes of products or material can be rapidly sorted.
2. FOCUS ON SELECT PLAYERS (Total 262 Featured)
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900