April 23, 2020
As per the report titled ‘Asia Pacific Material Handling Equipment Market Size By Demand, By Product, By Application, By Sales Channel, Industry Analysis Report, Regional Outlook Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, Asia Pacific material handling equipment market is projected to cross USD 80 billion by the year 2025.
Rapid industrialization and urbanization in Asia Pacific, in tandem with establishment of manufacturing facilities of global companies due to availability of cheap labor and abundant resources are the major growth driving factors of APAC material handling equipment market. Rising adoption of automated technologies across various industries for handling and transporting industrial goods from one site to the other is improving the efficiency of business operations, thereby augmenting the product penetration. Investments for transforming manual industrial operations to automated processes for enhanced efficiency are further propelling the market growth.
Proliferating customer demand for industrial goods is urging industries to speed up their production capabilities, in turn supporting the deployment of robotic technologies. Moreover, rising adoption of automated guided vehicles (AGVs) across various application sectors, including third-party logistics, warehouses, and e-commerce to remotely monitor heavy loading operations is boosting the market growth. Key benefits such as safe transportation of the loads through controlled acceleration and deceleration features along with automatic obstacle detection are encouraging the installation of automated technologies.
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Speaking of the application spectrum, e-commerce segment is anticipated accrue significant market share by the year 2025. The growth can be attributed to rising consumer inclination towards online shopping especially in China and India owing to increased flexibility and customization. India has a strong presence of both global and domestic players including Amazon, Snapdeal, Flipkart, and Myntra. Soaring online orders is prompting the e-commerce sector to adopt automated material handling equipment to enhance the production and distribution rate, hence, stimulating the segment growth.
Elaborating on the sales channel, online segment is witnessing robust growth owing to diverse product offerings at varied price ranges by several companies. Online channels offer discounts, warranties, and additional benefits encouraging customers to shop online.
Prominent players of Asia Pacific material handling equipment market are Mitsubishi Caterpillar Forklift America, Inc., Bastian Solutions, LLC, Clark Material Handling Company, Dematic GmbH & Co., Toyota Industries Corporation, Crown Equipment Corporation, BEUMER Group GmbH & Co. Kg, JBT Corporation, KION Group AG, Hyster-Yale Materials Handling, Inc., Liebherr Group, KUKA AG, Siemens AG, Honeywell Intelligrated, Inc., and Kardex AG. The industry behemoths are undertaking various strategies such as long-term contracts with industrial customers to improve their sales and profitability. For instance, in 2017, KUKA AG entered into an agreement with Gebo Cermex to provide robotic technologies to latter’s packaging assembly.
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