APAC Material Handling Equipment Market
Asia Pacific material handling equipment market to procure hefty returns from e-commerce applications, regional industry shipments to depict a CAGR of 7% over 2019-2025
The APAC material handling equipment market has, of late, been experiencing appreciable growth on account of the presence of myriad regional companies delivering robotic technologies for warehouse automation. An influx in the demand for automated solutions to support numerous warehouse operations like retrieval, storage, transportation and packaging will steer the industry growth in the years to come.
Hong Kong material handling equipment market, by application, 2018 & 2025 (USD Million)
The industrial sector in APAC has lately been under pressure to shift its focus toward robotic technologies owing to the hike in labor costs. The growing operational productivity and efficiencies in warehouses through the applications of these systems are enabling the companies to enhance their sales and productivity. Moreover, a number of small-scale industries are deploying old/used machinery for minimizing extra cost of purchasing new equipment. These machines need replacement of parts and components at regular intervals, which will subsequently propel the commercialization map of the APAC material handling equipment market in the forthcoming years.
The regulatory framework in the Asia Pacific is majorly responsible for impelling the regional material handling equipment industry, given that legislative authorities are developing a number of initiatives that are generating a huge demand for automated technologies. The initiative called ‘Made in China 2025’ by the Chinese government for instance, is accelerating the production rate in the nation. This move is encouraging domestic and global companies to establish their manufacturing facilities in the nation. Such facilities would overtly need automated technologies to enhance and improve operations and production capabilities, which would propel APAC material handling equipment industry.
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Manufacturers are also assisting small-scale ventures in purchasing these automated machines via financing options and flexible loans. This helps companies with facilities in installing modern equipment within the budget range, which in turn will augment the APAC material handling equipment market growth in the coming years.
The deployment of material handling equipment has thus proved to be highly beneficial across a spate of verticals. Indeed, the APAC material handling equipment industry has been touted to thrive essentially on account of the vast application spectrum of these components, which is expected to expand in the forthcoming years.
The paragraphs below provide a precise gist of the application landscape of the APAC material handling equipment market:
Unveiling Asia Pacific material handling equipment market trends from 3PL (Third party logistics) applications:
The third party logistics industry is anticipated to emerge as one of the most profitable application avenues for the APAC material handling equipment market. Undeniably, this growth can be credited to the emergence of a hyper competitive pricing market for all third party logistics services. With an increase in the domestic consumption in Asian region, which is increasingly focused on high value and quality goods, companies are getting more inclined towards robotic technologies and automation.
Driven by the fact that material handling equipment help companies in raising their efficiencies and operational productivity, in a bid to make sure that their productivity and sales are enhanced, the 3PL sector is touted to hugely contribute toward the expansion of the APAC material handling equipment market. With an upsurge of expenditure on outsourced 3PL services across contract logistics, the demand for material handling equipment will naturally depict a rise, augmenting the APAC material handling equipment industry size from 3PL applications.
Unveiling Asia Pacific material handling equipment market trends from e-commerce applications:
According to reliable report, the eCommerce market is expected to depict a highly commendable growth rate across economies such as India and China. Indeed, China is known to account for almost half of online retail eCommerce sales across the globe. Apart from making the process hassle free, companies in the eCommerce industry are adopting advanced and automated material handling equipment to speed up the operations, along with reducing costs – a major parameter of concern in the eCommerce industry.
As per China e-Business Research Center estimates, Tmall rules the B2C marketplaces of the Chinese eCommerce landscape, followed by JD, Suning, Tencent among others. The presence of numerous eCommerce companies, low-cost deliveries, and the mammoth population of the Asia Pacific region testifies the fact that the eCommerce industry in this region will witness a massive upsurge in the coming time. This would irrefutably contribute to the expansion of the APAC material handling equipment market from e-commerce applications over 2019-2025.
Endorsed by a widespread application terrain, the APAC material handling equipment market is anticipated to depict a highly lucrative remuneration graph in the coming years. According to estimates, the valuation of APAC material handling equipment market would surpass US$80 billion by the end of 2025.
Author Name : Saurav Kumar
The rising need to improve productivity within the industrial facilities will considerably fuel demand for efficient material handling equipment. Rapid improvement in the industrial sector with enhanced productivity in the developing nations will foster the development of modernized machines for handling different aspects of manufacturing and logistics processes.
There has been a rise in automated manufacturing activities over the years wherein firms have adopted advanced technologies like IoT in logistics and big data analytics to be able to manage all the operational requirements. This has drastically changed the way numerous businesses usually function. Industry players often undertake development of unique and advanced products that could help companies gain competitive edge over the others.
Prominent manufacturers comprising the material handling equipment industry include Daifuku Co., Ltd., Kion Group AG, Hyster-Yale Materials Handling, Intelligrated, Inc., KUKA AG and Columbus McKinnon, among others.
Material handling equipment market size will surpass USD 200 billion by 2025. High competition within the industry has resulted in the surging adoption of advanced technologies that help all the business processes, related to Food & beverage, food retail, 3PL and general merchandise among others.
Government lays down several initiatives and provides major financial support that is in the form of tax benefits and reduced duties. Such incentives fuel small enterprises to secure a strong foothold within the industry. Massive use of automated systems and machines ensure effective work operations as well as monetary benefits to all such SMEs, as large amount of labor costs are saved.
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These companies are increasingly focusing on the deployment of automated systems and material handling machines to replace human labor on account of their cost-saving and highly efficient features when compared to the traditional processes. They are also safer in terms of the risk of injuries to workers.
The bulk material handling equipment market share has been experiencing significant demand due to the rise in the need to control and transport large volumes of materials. The equipment essentially manages and supports the infrastructure and is an important link for a quick & efficient delivery. Warehouses, distribution centers and manufacturing plants have been increasingly demanding AS/RS material handling equipment for picking up orders.
The systems help transport the finished goods from the manufacturing plants to different warehouses and distribution centers. AS/RS receives the needed goods to fulfill its order while also encouraging several industries to use the equipment, compared to using the manual process of order picking and reduce the cost of labor. It also guarantees more effective order fulfillment.
Latin America material handling equipment industry forecast will exhibit notable growth prospects in the forthcoming years due to rapid industrialization as well as the growing manufacturing sector in the region. The manufacturing companies have been opting for advanced material handling solutions for ensuring higher bottom lines and improving productivity, that has resulted in the economic development of the region.
There has been a rise in the number of companies that have been implementing automated solutions and robots to handle various types of material handling, which has accelerated the growth of the segment in the region. The construction sector has been experiencing a major expansion in South America which led to a rise in the demand for performance material handling solutions.
Author Name :Riya Yadav