The global automated material handling equipment market is projected to generate USD 56,731 million revenue by 2030, advancing at a CAGR of 8.9% during 2022–2030. This can be ascribed to the rising usage of automated storage and retrieval technologies, technological advancements, the surging trend of Industry 4.0, rapid industrialization associated with digitalization, and the increasing number of manufacturing sites and warehouses across the globe.
Based on system type, the market is categorized into bulk load material handling and unit load material handling. Of these, the unit load material handling category will register faster growth during the forecast period, advancing at a CAGR of around 9%. This can be because such systems are highly used in numerous industries, due to their cost efficiency, can process multiple items, reduce trip counts, and low load and unload times. Moreover, the increasing demand for such systems in the e-commerce industry for handling products will further boost the market growth in this category in the coming years.
Based on vertical, the market is classified into automotive, food & beverages, metals & heavy machinery, 3PL, semiconductors & electronics, chemicals, e-commerce, healthcare, aviation, and others. Among these, the e-commerce category will register the fastest growth in the coming years. This can be due to the rising trend of online shopping, the presence of a large number of online suppliers, the increasing customer spending, and improving supply chain and logistics infrastructure.
Additionally, the food & beverages category held a significant revenue share in 2022, and it is further expected to maintain its position in the coming years. This is due to the increasing demand for packaged food and carbonated drinks, the rising number of packaged food manufacturers, the mounting need for food packaging, and the burgeoning trend of smart factories.
The WMS category, based on product, will witness the fastest growth during the predicted period. This can be attributed to the rising number of warehouses, the surging awareness regarding WMS among SMEs, the mounting need for supply chain networks across the globe, several companies providing cloud-based solutions for warehouse management, and the surging need for sophisticated logistic infrastructure.
Geographically, the APAC market will register the highest growth rate during the forecast period, advancing at a CAGR of more than 9.2%. This can be due to rapid urbanization coupled with industrialization, the mounting awareness related to product handling and warehouse automation, the growing end-use industries such as e-commerce, food & beverages, and healthcare, and the rising investment by companies for digital transformation and automation as a part of Industry 4.0.
Furthermore, North America held a significant revenue share in 2022, and it is also expected to grow with a substantial CAGR in the coming years. This is ascribed to the high acceptance rate of advanced technology and the increasing number of material handling practices due to the growing manufacturing, automotive, and metals & heavy machinery sectors. Additionally, the U.S. contributes the majority of revenue to the regional market, owing to the presence of prominent players and the high R&D investments for the development of innovative machines that reduce labor workload and maximize productivity, in the nation.
Some of the major players in the automated material handling equipment market are Daifuku Co. Ltd., KION GROUP AG, Fritz SCHÄFER GmbH & Co KG, Toyota Industries Corporation, Honeywell International Inc., Hyster-Yale Materials Handling Inc., John Bean Technologies Corporation, Jungheinrich AG, and BEUMER Group GmbH & Co. KG.