). The rising technological advancements, rising labor costs and safety concerns, rising efficiency and productivity of manufacturing and warehouse operating companies, a significant recovery in global manufacturing, growing demand for automation in industries, rising demand for robots in manufacturing units and warehousing facilities, and rising emerging markets are just a few of the key factors driving the growth of the automated material handling market.
New York, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automated Material Handling (AMH) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06321494/?utm_source=GNW Additionally, throughout the projection period, the worldwide automated material handling market would benefit from the expanding digitization of supply chain operations. This expansion will be complemented by the increasing level of order customization and personalization. - Automated material handling (AMH) systems help in the efficient transfer of materials at different places in the manufacturing area, warehouse, retail shops, airports, distribution, and logistics centers. These systems help in transferring materials from one place to another within the same bay or department opposite manufacturing ends or between two separate buildings. An AMH system uses a route or path provided by the Manufacturing Execution System (MES). Material identification is made by these vehicles using optical character recognition (OCR), barcode, RFID, ultra-wideband indoor tracking, and near-field communication for locating the position of materials. - Over the last 70 years, material handling has undergone various transformations that have changed the industry’s outlook. Material-handling machines and robots have replaced individual workers. Owing to this transformation, many industries have grown, especially the automotive industry, which has experienced a 10-fold growth. - Industry 4.0 innovations and next-generation manufacturing capabilities developed in Canada are changing the way products and components are designed, made, delivered, and maintained across a wide range of industries and climate conditions. Robotics, automation, and technologies like additive manufacturing (3D printing) have a wide range of applications in Canadian industries, such as e-commerce, automotive, agriculture, and pharmaceuticals. Canadian innovators are producing a comprehensive range of technologically complex, increased-value products for domestic and competitive global markets, sharing enhanced practices and laying the groundwork for collaborations that shape the future of advanced automation technologies. - Although the first form of AGV was used in 1953, AGVs have been mostly unable to gain widespread adoption across all the production/warehousing firms due to several mitigating factors (cost being a significant factor impeding growth). The average price of a typical guided vehicle is expected to be around USD 60,000-100,000, while an integrated system equipped with navigation aids, sensors, safety equipment, and communication components could be much more expensive. The high initial prices and maintenance issues continue to have an adverse impact on the market studied. Major companies have made concerted efforts to keep the total costs in check while ensuring that innovation and R&D activities remain unaffected. - The COVID-19 pandemic complicated the situation of automation adoption in various sectors. It has changed the standard operating procedure by bringing in unique challenges of social distancing and contactless operation. Organizations were forced to limit their workforce and deal with the increasing demand. The COVID-19 outbreak has infected several workers in the United States since 2020, leading companies on the front lines to implement new safety processes. While the spread of the virus has been severe enough to warrant shutdowns, for instance, food production facilities, multiple other businesses have been able to continue operations with the addition of new health measures. Key Market Trends General Manufacturing Significantly Drive the Market Growth - With a shift toward a service-based economy, the United States has lost its edge as the world’s leading manufacturer. With the implementation of various federal policies, the manufacturing cost is expected to be 20% higher (excluding the increasing labor costs). Competition for low-cost products in the United States is expected to decrease due to an increased standard of living, further increasing labor wages. The decrease is expected to reduce AMH equipment demand in the US general manufacturing industry. - Moreover, Canada’s manufacturing sales have been largely stagnant over the past 15 years, and its production has not kept pace with the global competitors; as a result, the demand for AMH equipment from the Canadian general manufacturing industry is expected to witness a sluggish growth rate in the country. According to StatCan, it is projected that the revenue of manufacturing in Canada would account for approximately USD 639.5 billion by 2024 from USD 579.3 billion in 2021. - According to the India Brand Equity Foundation, India’s gross domestic product (GDP) at current prices of INR 51.23 lakh crore (USD 694.93 billion) in the first quarter of 2022, according to the provisional estimates of gross domestic product (GDP) for the first quarter of 2021-22. In the first quarter of FY22, the manufacturing GVA was predicted to be USD 97.41 billion at current prices. India has the potential to become a worldwide manufacturing hub, with an annual contribution to the global economy of over USD 500 billion by 2030. - A significant trend impacting the market studied is the focus on smart manufacturing practices. According to the data from IBEF, the Government of India set an ambitious target of increasing manufacturing output contribution to 25% of Gross Domestic Product (GDP) by 2025, from 16%. The Smart Advanced Manufacturing and Rapid Transformation Hub (SAMARTH) Udyog Bharat 4.0 initiative aim to enhance awareness about Industry 4.0 within the Indian manufacturing industry and help stakeholders address challenges related to Automated material handling.? - Panasonic would debut the Miraie Profactoryplatform in November 2021; an Industrial Smart Factory solution developed in-house at Panasonic’s Indian Innovation Centre. The platform works with various machine kinds, models, and brands in the manufacturing industry. This smart production solution would help Indian manufacturers to digitize their factory operations, allowing businesses to grasp the benefits of Industry 4.0 fully. Asia Pacific is Expected to be the Fastest Growing Market - China has been a prominent contributor to the growth of the AMH market in the Asia-Pacific region. The increasing demand for AMH products across industries, such as manufacturing, automotive, and e-commerce, boosts the market’s growth. China has a vast population and pursues an industrial policy. Measured on the PPP basis, the country became the world’s largest economy and the world’s largest exporter and trader during the current decade. The country is currently passing through the transition state of a manufacturing and construction-led economy to a consumer-led economy. - According to China’s National Bureau of Statistics, total retail sales in China’s consumer products market were around CNY 44.1 trillion in 2021. In metropolitan areas, retail sales were CNY 38.2 trillion, while sales in rural China totaled CNY 5.9 trillion. Furthermore, around 24.5% of all retail purchases in China were conducted online in 2021, a tiny decrease from 24.9% in 2020. The number of Chinese online buyers has risen rapidly from under 34 million in 2006 to over 466 million users a decade later, enabling China’s e-commerce business to grow at such a rapid pace. According to CNNIC (China Internet Network Information Center), around 842 million people in China had purchased goods online as of December 2021. - Japan is predominantly a manufacturing nation. Its manufacturing industry contributes close to 20% to the nominal GDP, whereas it is close to 10% for other developed countries. According to the IMF, the country’s manufacturing sector has achieved significant industrial productivity gains over the services sector, owing to the increased adoption of ICT. The automotive and electronics sectors are the most productive manufacturing sectors in the country. - An increase in infrastructure investment by the government and investments from industries coupled with the ’Make in India’ initiative is expected to drive AMH systems’ demand. The Government of India aims to increase the manufacturing sector’s share of the gross domestic product (GDP) to 25% by 2022, from 17% in 2018. Thus, manufacturers are expected to incorporate Industry 4.0 and other digital technologies to achieve this target. - The 4th Industrial Revolution was adopted by South Korea. In Korea, smart factories will be one of the most important fields. By 2022, South Korea plans to construct 30,000 smart factories. The government of South Korea established a support program to help old companies become carbon-neutral smart factories. Those wishing to transform their factories in Korea into smart factories will receive USD 360,000 in financial assistance from the Korean government if they reach medium 2 levels. In addition, USD 180,000 will be awarded for reaching medium 1 levels. These Smart Factories will be fully integrated, automated systems that will be employed in manufacturing. The automated solutions will also follow automation for material handling and storage solutions, therefore, providing a boost to the studied market. Competitive Landscape The Automated Material Handling (AMH) Market is highly competitive in nature. Product launches, high expense on research and development, partnerships and acquisitions, etc., are the prime growth strategies adopted by the key players in the market to sustain the intense competition. - August 2022 - Interroll opened a new plant in Suzhou during its 20th anniversary year in China. After two decades of success in the Chinese material-handling market, Interroll has now fully prepared for future opportunities in the Asia-Pacific and China by putting a new plant in Suzhou, China, into full operation, effectively doubling production capacities. - February 2022 - KION Group launched the European research project IMOCO. The project aims to facilitate intelligent trucks to navigate autonomously in a warehouse or factory. IMOCO, which stands for ’intelligent motion control’, is devoted to the safe usage of mobile robotic systems in fast-moving intralogistics environments. Reasons to Purchase this report: - The market estimate (ME) sheet in Excel format - 3 months of analyst support Read the full report: https://www.reportlinker.com/p06321494/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
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