The automated material handling equipment industry is expected to grow due to increase in industrial automation in safe transportation of materials. The development of new automated guided vehicle offering reduced operating costs, battery free option, high return on investment, and safety features are expected to have substantial impact on the market growth.
Major types of automated material handling equipment sought by the customer industries include automated guided vehicles, automated storage & retrieval systems, automated crane, robotics systems, and automated conveyor & sortation systems. Robotics systems constitute the highest market share of 30.7% in 2015 owing to high accuracy, superior efficiency, and reduction in product damage offered by pick and place robot systems. Automated conveyor systems accounted for one fifth of the market share in 2015, and is likely to reach $7,596 million by 2022 at a CAGR of 6.5%.