Global Autonomous Material Handling Equipment Market – Introduction
- Autonomous material handling equipment is usually known as automated equipment, mainly employed for movement (lifting and placement) of discrete loads in a manufacturing unit or workstation. Many types of autonomous material handling equipment are offered for different operational applications including storage, assembly, waste handling, and distribution.
- Usage of autonomous material handling equipment is significantly increasing among various industries such as logistics, aerospace, and automotive, as organizing & managing the industrial unit or warehouse.
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Increasing demand for automated guided vehicles (AGVs) driving the global autonomous material handling equipment market
- Automated material handling vehicles are also known as automated guided vehicles (AGVs), which are used to relocate or transfer materials in warehouses or industrial units. Automated guided vehicles (AGV) are armed with a vehicle fleet management platform in order to deliver optimum productivity in automotive and manufacturing industries. In addition, an AGV fleet management software/platform is specifically designed for fleet, traffic, and further logistics purposes. The fleet management software/platform generally helps industries to enhance their operational efficiency and logistics flexibilities. AGV fleet management platform can reduce operational costs as well as the labor force for automotive and other manufacturers. It also enables industries to implement advanced material handling techniques and decrease waste incurred in industrial processes.
- Moreover, AGVs are majorly controlled and organized by advanced software, which is assimilated in vehicles and enables control and navigation of the vehicles. Additionally, various manufacturers or vendors are introducing mobile robots and vision guided vehicles to generate opportunities for the AGV fleet management software/platform. Automotive and manufacturing industries are emphasizing on increasing productivity and minimizing operational cost by employing automated guided vehicles (AGVs). This is expected to boost the growth of the autonomous material handling equipment market worldwide.
High initial investment expected to significantly hamper the autonomous material handling equipment market
- The primary or initial cost of installing and integrating autonomous material handling equipment is fairly high, that restricts the usage of these equipment in various industries. Therefore, high initial investment is significantly expected to hamper the autonomous material handling equipment market during the forecast period. However, introduction of new technologies and increasing spending in the automotive and manufacturing sector is expected to reduce the initial cost of automated material handling equipment in the future.
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North America to hold major share of the global autonomous material handling equipment market
- In terms of region, the global autonomous material handling equipment market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global autonomous material handling equipment market during the forecast period due to adoption of advanced manufacturing techniques and to minimize the waste incurred in the manufacturing process, specifically in the U.S. and Canada. Europe is estimated to be the second largest market for autonomous material handling equipment from 2019 to 2027, owing to an increase in investment and entry of leading automobile players, which is likely to help the growth of the autonomous material handling equipment market in the region.
- Asia Pacific is projected to be a rapidly expanding region of the global autonomous material handling equipment market during the forecast period owing to the increasing demand for automation and material handling equipment in distribution facilities and automobile assembly centers specifically in Singapore, China, India, Malaysia, South Korea etc., which is expected to increase the adoption of autonomous material handling equipment in the region.
Global Autonomous Material Handling Equipment Market – Competition Landscape
- In February 2019, AGVE group received an order to provide AGV systems in Germany. The order majorly includes 16 A8 FLC AGV systems. The order is expected to help the company enhance its market position and increase its market share in autonomous material handling equipment.
Key Players Operating in the Global Market
- AGVE Group, Inc.
- Bastian Solutions, Inc.
- Beumer Group Gmbh & Co. Kg
- Daifuku Co., Ltd.
- Fives Group
- Kion Group
- Omron Adept Technologies, INC
- Seegrid Corporation
- Toyota Industries Corporation
- Vanderlande Industries
Global Autonomous Material Handling Equipment Market: Research Scope
Global Autonomous Material Handling Equipment Market, by Component
Global Autonomous Material Handling Equipment Market, by Type
- Automated Guided Vehicles (AGV)
- Automated Storage and Retrieval System (AS/RS)
- Sortation System
Global Autonomous Material Handling Equipment Market, by Application
- Waste Handling
Global Autonomous Material Handling Equipment Market, by End-user
- Food & Beverage
Global Autonomous Material Handling Equipment Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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