The global automated material handling equipment market size is expected to reach USD 59.56 billion by 2030, according to a new study by Polaris Market Research. The report “Automated material handling equipment Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software, and Services); By System; By Vertical; By Region; Segment Forecast, 2022 – 2030” provides a thorough understanding of the dynamics of the market now and analyses how the market will expand in the future.
Increased investment in the development of power and battery technology will drive market growth. Aside from that, favorable government efforts worldwide support the building of new infrastructure, resulting in growth possibilities in the market over the projection period. Developing economies like India and China draw international investments to promote infrastructure and industrial development, which will likely fuel market expansion. In addition, the construction of public infrastructure such as rail networks, airports, seaports, and power plants, among other things, is expected to boost market growth.
China's Belt and Road Initiative (BRI) is expected to generate lucrative possibilities, fueling the expansion of market. This project aims to link a network of rail and road links from China to Europe via the Middle East. The fast growth of the e-commerce business has considerably helped the market. In addition, due to the COVID-19 outbreak, the installation of social distance laws, lockdowns, and other measures has led customers to turn to internet purchasing, which has aided market growth.
The rise in labor costs and safety concerns have prompted many businesses to select equipment to enhance job efficiency and reduce time, and this factor will fuel market expansion. Furthermore, as technology advances, there will be a greater desire for automation and productivity, which will drive market expansion.
Moreover, the growing need for efficient material movement demands automated procedures, which will drive market expansion. Over the projected period, rapid industrialization and the growing need for automation in material handling equipment are likely to drive market expansion. The early outbreak of the COVID-19 pandemic had a significant impact on the warehousing business because goods movement, particularly non-essential commodities, came to a halt.
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The market is predicted to grow quicker because of higher worker safety awareness, rising demand for better bulk material management, and the rise of Industry 4.0 with expanded Internet of Things use. The growing requirement to reduce downtime and the emphasis on enhancing supply chain efficiency is projected to boost the market for this product.
Growing automation acceptance and commercial, and technological developments have led to the construction of completely automated industrial facilities in industrialized countries. The increasing modernization of industrial facilities and infrastructures to increase production capacity is expected to propel the market forward.
The e-commerce application category is predicted to grow considerably during the forecast period due to growing online shopping platform penetration, the presence of big online merchants, and rising logistical infrastructure. This tendency is causing warehouse operators to invest in effective material handling equipment in order to manage the supply chain ecosystem better.
Automated Material Handling Equipment Market Report Highlights
Polaris Market Research has segmented the automated material handling equipment market report based on component, system, vertical and region:
Automated material handling equipment, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Automated material handling equipment, System Outlook (Revenue - USD Billion, 2018 - 2030)
Automated material handling equipment, Vertical Outlook (Revenue - USD Billion, 2018 - 2030)
Automated material handling equipment, Regional Outlook (Revenue - USD Billion, 2018 - 2030)