According to a latest research report titled ‘APAC Material Handling Equipment Market, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the Asia Pacific material handling equipment market is predicted to surpass US $80 billion by 2025.
Growing adoption of automated technologies across industries in a bid to transport and hand manufacturing goods from one department to other is increasing growth of APAC material handling equipment market. Businesses are investing heavily to convert their manual manufacturing operations to automated processes.
Moreover, with growing consumer demand for industrial goods, businesses are engaged in ramping up their manufacturing capabilities which is thereby encouraging installation of robotic technologies, further driving Asia Pacific industry size.
According to the report, APAC material handling equipment market is experiencing increased adoption of AGVs (Automated Guided Vehicles) in many application sectors such as third-party logistics, e-commerce and warehouses. It allows industries to accomplish heavy loading operations with the help of distant monitoring technologies. Moreover, the movement of these machineries is focused with a combination of sensor-based guiding software tools and guiding systems.
It also offers safe movements of heavy loads owing to controlled deceleration and acceleration with the help of automated obstacle detection bumpers. Advantages that are motivating the manufacturing sectors to install automatic technologies in their services which is expected to drive APAC material handling equipment market size.
The online retail channel segment is also experiencing high growth owing to increasing number of companies offering different product categories at different prices. Due to an increase in number of online options, consumers have a wide range of options to select from for products specific to their manufacturing requirement as well as their budget.
Furthermore, these online networks offer many additional benefits like warranties and discounts that attract the interest of industrial consumers for online purchases. The region is also witnessing growing competition in the online retail network sector that focuses on fulfilling the extensive demand of industrial consumers, which is in turn boosting APAC material handling equipment market growth.
Growing adoption of modern technologies in the e-commerce sector is anticipated to boost APAC material handling equipment industry share. Countries including China and India are witnessing a rise in number of consumers moving towards online shopping owing to improved customization and flexibility.
The e-commerce industry is booming at a rapid pace in India owing to the robust presence of domestic as well as global players such as Snapdeal, Amazon, Myntra, Flipkart and others. With such a rise in online orders, the e-commerce segment is engaged in altering its manufacturing processes with the implementation of automated technologies to increase the distribution and production rate.
Rapid urbanization and industrialization trends in the region are also some of the key factors contributing to growth in APAC material handling equipment market. Many economies such as Malaysia, Japan, Australia and Singapore have reported a high industry development intensity index.
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The growing interest of international players to establish their industrial base in the region owing to the availability of abundance of resources and cheap labor is driving market growth. Moreover, manufacturing sectors are increasingly installing automated and modern technologies in their facilities to improve the productivity in their processes and to streamline business operations.
Some key companies operating in APAC material handling equipment market include Bastian Solutions, BEUMER Group GmbH And Co. Kg, Dematic GmbH And Co., LLC, Clark Material Handling Company, Hyster-Yale Materials Handling Inc., Crown Equipment Corporation, JBT Corporation, KION Group AG, Mitsubishi Caterpillar Forklift America, Toyota Industries Corp., Liebherr Group, Honeywell Intelligrated Inc., Kardex AG, KUKA AG and Siemens AG.
These companies are involved in partnering with industrial consumers to develop a long-term relationship, thereby improving their profitability and sales. Citing an instance, in 2017, KUKA AG signed a supply contract with Gebo Cermex to offer its robotic machineries to Gebo Cermex’s packaging line.