Material Handling Equipment Market to Hit CAGR of 7.9% to 2022 Dominated by Automated Guided Vehicles
The material handling equipment market was valued at USD 26.02 Billion in 2015 and is to reach USD 44.68 Billion by 2022, growing at a CAGR of 7.9% to 2022 driven by increasing demand for automated systems and reduction in labor and manufacturing costs.
Pune, India – May 26, 2016 /MarketersMedia/ —
The material handling equipment market is expected to grow at a CAGR of 7.9% between 2016 and 2022 and reach USD 44.68 billion by 2022. The key driving factors for the growth of the automated material handling equipment market are increasing demand for automated systems, advancement in technology, reduction in labor and manufacturing costs, enhanced quality of products, improved safety and working conditions, and increased profitability.
Complete report on global material handling equipment market spread across 187 pages, profiling 10 companies and supported with 76 tables and 79 figures is now available at http://www.rnrmarketresearch.com/material-handling-equipment-market-by-product-type-agv-asrs-automated-crane-robotic-system-automated-conveyor-and-sortation-system-system-type-software-and-service-operation-application-and-geography-gl-st-to-2022-market-report.html .
The market for automated guided vehicle (AGV) is expected to grow at the highest CAGR between 2016 and 2022. The growth of the AGV market is mainly driven by the introduction of intelligent and customized AGVs, high throughput rates, optimization of logistic systems, increased reliability, and reduced operating costs.
The growth of the material handling equipment market in APAC is attributed to the increasing investments by manufacturers & suppliers for installing AMH equipment at warehouses and distribution centers. The increasing popularity and superior results of automated equipment are encouraging more companies in APAC to install automated material handling equipment. Moreover, the economic growth of APAC has benefited the manufacturing sector which is a primary end user of automated material handling equipment. The leading players contributing to the growth of the region are Toyota Industries Corporation (Japan), Daifuku Co., Ltd. (Japan),Murata Machinery, Ltd. (Japan), Fanuc Corporation (Japan), UniCarriers Corporation (Japan), Shanghai Zhenhua Heavy Industries Co., Ltd. (China), and Xuzhou Heavy Machinery Co., Ltd. (China).
The key players in the market include Bastian Solutions, LLC. (U.S.), BEUMER Group GmbH & Co. KG (Germany), Dematic GmbH & Co. KG (Germany), Daifuku Co., Ltd. (Japan), Hyster-Yale Materials Handling, Inc. (U.S.), Jungheinrich AG (Germany), JBT Corporation (U.S.), KION Group AG (Germany), KUKA AG (Germany), and Toyota Industries Corporation (Japan). Inquire for the discount before order a copy of Material Handling Equipment Market by Product Type (AGV, ASRS, Automated Crane, Robotic System, Automated Conveyor and Sortation System), System Type, Software and Service, Operation, Application, and Geography – Global Forecast to 2022 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=582287 .
To determine the market size of various segments and sub-segments of the PIM market, extensive secondary research is done. In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (40%), Tier 2 (35%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (30%), Directors Level (30%) and others (40%) from various key organizations operating in the global automated material handling equipment market. The primary interviews were conducted worldwide covering regions such as North America – 40%, Europe – 25%, APAC – 30%, RoW – 5%.
On a related note, another research on Industrial Robotics Market Analysis & Forecast to 2022 says, the global industrial robotics market is expected to reach USD 79.58 billion by 2022, growing at a CAGR of 11.92% between 2016 and 2022. APAC is to grow at the highest CAGR during the forecast period. Sensors market is expected to grow at the highest CAGR among all industrial robotics components. Companies like ABB Ltd. (Switzerland), KUKA AG (Germany), FANUC Corp. (Japan), Yaskawa Electric Corp. (Japan), and Kawasaki Heavy Industries Ltd. (Japan) among others have been profiled in this 134 pages research report available at http://www.rnrmarketresearch.com/industrial-robotics-market-global-forecast-analysis-by-applications-functions-product-geography-2012-2017-market-report.html .
About Us:
RnRMarketResearch.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 100+ leading global publishers & in-depth market research studies of over 5000 micro markets.
For more information about us, please visit http://www.rnrmarketresearch.com
Contact Info:
Name: Ritesh Tiwari
Organization: RNR Market Research
Address: UNIT no 802, Tower no. 7, SEZ Magarpatta city, Hadapsar
Phone: +1-888-391-5441
Release ID: 116751
Copyright © 1999-2013 SproutNews.com
