Material Handling Equipment Market: Introduction
Material Handling Equipment is machine-driven equipment used for the activities such as storage, movement, control and material protection of goods during production, distribution, consumption, and discarding. The market is anticipated to witness significant growth over the forecast period owing to technological advancements and automation in the equipment.
Automated Material Handling Equipment
At present, the market is witnessing a rapid growth due to the growing adoption of automated equipment for material handling, which is a major driving factor for the market. Automated system includes technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), Automatic Identification and Data Capture (AIDC) and Radio Frequency Identification (RFID). By using automated systems, it aids in eliminating the requirement for the workers to sort, checking in or checking out the materials. Moreover, it reduces the use of human strength and saves time which is used for moving totes and bins. Automated Material Handling (AMH) is being used in the mechanical equipment including conveyors, stackers, trolleys, singulators, and others.
Rising number of storage units to maintain stock on the basis of demand, by key players in various end-use industries such as pharmaceutical, electronics, automotive and others, will enhance the demand for automated material handling equipment. This can reduce the labor cost, along with increasing effectiveness in material handling operations. Companies such as Rockwell Automation, Yamazaki Mazak Corporation, and Murata Machinery among others are majorly contributing to the development of this equipment. With this rigorous contribution, the market may witness a significant growth over the projected period.
The market might witness restriction, due to the lack of a skilled workforce for operating these systems. This could be majorly caused by the increasing interest of the workforce to work in the Middle East region, due to higher wages.
Automated Storage (AS) and Retrieval Systems (RS): Engineered Systems
AS and RS are enhanced engineered systems, which are autonomous systems to be mainly used in organizing structures internally. Majority of these systems are involved in shelves, racks, aisles which are operated by a shuttle device integrated with gantry robot technology to increase efficiency, ensure traceability, eliminates errors and reduces labor cost. For instance, Cimcorp offers robust 3D Shuttle for AS/RS for the numerous applications for stock-keeping units that are handled in boxes, totes, trays, and others. Therefore, it is anticipated that engineered systems would grow substantially over the forecast period.
Pharmaceutical industry: Inclination towards smart material handling
The pharmaceutical industry is under constant pressure to produce and distribute the variety of drugs while meeting safety and quality standards. Therefore, the manufacturers and wholesalers are in high need to have the minute details of their operations to avoid the risk of penalty, recalls and cancellation of their licenses. Numerous companies in the pharmaceutical industry are utilizing automated systems for enhancing their operational efficiencies, and also to reduce their operational costs. For instance, Logic MH has developed a clean in place conveying systems (CIP). This system is a fully automated system which virtually allows every component to clean with ease without opening conveyer. This provides numerous benefits such as involvement of less labor which lowers down the exposure of chemicals. Thus, it is anticipated that material handling equipment market for the pharmaceutical industry would witness significant growth over the projected period.
Asia Pacific material handling equipment market is expected to hold major share in the market, mainly contributed by China, India and Japan, which will be attributed by the rise in the pharmaceutical manufacturing units in this region, coupled with major initiatives taken by the respective government bodies to boost the domestic production such as Make in India. The manufacturing units majorly adopt the mechanical handling equipment in their production facilities and warehouses. According to India Brand Equity Foundation, manufacturing units estimated in India have grown at a CAGR of 4.34 % between 2012 to 2018. Therefore, the growth in the manufacturing sector would propel the growth of material handling equipment in the global market.
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