BANGALORE, India, June 29, 2015 /PRNewswire/ --
Mordor Intelligence presents their Global Automated Material Handling And Storage Systems Market report segmented by Type Automated Guided Vehicles (AVG) and Automated Storage & Retrieval Systems (AS/RS) - By Industry - By Geographical Region (North America, Europe, Asia Pacific, Rest of the Word) - discussing Industry Value Chain Analysis, Porter's 5 Force Analysis, Drivers, Restraints, Vendor Profiles, Global Market Size, Forecasts & Analysis (2014-2020). This report focuses on providing useful information with extensive technical, market-oriented, and commercial study of Global Automated Material Handling and Storage Systems Market.
Mordor Intelligence estimates Global Automated Material Handling and Storage Systems Market was $20.73 billion in the year 2014 and is expected to grow at a CAGR of 12.29% over the period 2014-2020 to reach $41.56 billion. The demand is global with increasing need for automation in a multitude of fields like pharmaceutical/healthcare, e-commerce/multichannel, fashion, retail and cosmetics. Rising labour costs and increased affordability have recently given the industry a lift. Currently, AGVs play an important role in the design of new factories and warehouses as more companies recognize the technology as an efficient, dependable and versatile material handling solution.
Europe is expected to be the biggest market. The well-established manufacturing, retail and logistics sector will be the driving forces for this market in the region. Growing at a CAGR of 11.43%, European market is expected to cross $17.55 billion mark by the last quarter of 2020. Although, the overall European economy is witnessing improvement after a prolonged recession, quite a few countries are still facing challenges due slow growth in manufacturing activity and decline in consumer sentiment. Some other issues, though external, which may be a cause of concern for enterprises operating in this region are crisis in Ukraine and Middle East. If the economy stabilizes and manufacturing sector improves, Europe is expected to be the biggest market for Automated Material Handling solutions across the world followed by competitive Asia Pacific region.
The major drivers to pace up the Global Automated Material Handling and Storage Systems Market are the ability to simplify and to reduce time consumed in the functions, while boosting reliability and accuracy, and engaging less manpower, thus ensuring to reduce cost and augment productivity. In addition it also facilitates workplace safety thus protecting the greatest asset of any company is its workforce. However, Automated Equipment require higher capital to invest and a comparatively high level of maintenance which might cause the smaller scale operators to avoid risk and will sit back until a proven solution is identified.
The report includes the market estimates by type AVG (Unit Load Carriers, Tow Vehicles, Pallet Trucks, Assembly Line Vehicles, Fork Lift Vehicles, Clamp Vehicles), AS/RS (Unit Load AS/RS, Mini Load AS/RS, Carousel-Type Storage & Retrieval Systems, Robotic AS/RS, Tunnel - Style Systems). The report also provides an in-depth analysis of the Global Automated Material Handling and Storage Systems Market across different Geographical regions namely North America, Europe, Asia Pacific, Rest of the World in addition to further segment country-wise under each region. The Global Automated Material Handling and Storage Systems Market report is also segmented on the basis of Industry verticals such as Manufacturing, Energy, Healthcare, Retail, Transport/Logistics, among others.
Some of the companies in this market such as Swisslog Holding AG, Murata Machinery USA, Inc., Siemens AG, KIVA Systems, Beumer Group, Daifuku, Co., Ltd., Dematic Group, FlexLink AB, Mecalux, S.A., SSI Schaefer, Intelligrated, Kardex AG, Bosch Rexroth and others have been covered and their strategies analysed.
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SOURCE Mordor Intelligence LLP