Introduction to India Automated Material Handling Equipment Market
The India Automated Material Handling Equipment Market is growing at a CAGR of 9.7% during the forecast period. Continuous investments in core manufacturing sectors push the demand for material handling equipment products. In addition, the increased demand for automation and shrinking timelines of infrastructure projects requires material handling equipment, resulting in an upward trend. The engaging e-commerce industry, increasing labor costs, and technological improvements further accelerate the development of the India material handling equipment market.
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What are Automated Materials Handling Equipment?
Material handling is an integrated procedure that implicates different activities, including handling, storing, and controlling products and materials during the manufacturing, warehousing, consumption, and disposal procedures. Material handling systems include automatic, semi-automatic, and manual equipment created to ensure efficient transport, minimum cost and compatibility with different manufacturing equipment. Automated material handling equipment efficiently transports products and materials from one location to another within the same manufacturing departments or in two different buildings using conveyors, vertical elevators, and autonomous conveyances.
What are Growth Drivers in India Automated Material Handling Equipment Market?
Growth in Demand for Automation
With the growth in the demand for automation in industrial and transport equipment, automated material handling equipment use has multiplied significantly. Organizations adopt robotics systems to automate their operations to deliver high-quality products, improve manufacturing capabilities, serve customers better, and efficiently manage their processes. This factor pushes organizations to adopt automated material handling equipment and further supports the market.
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Technological Improvements
With the beginning of new technologies, better and more efficient automated solutions are presented in the market. Automated material handling equipment (AMHE), such as robotic systems, accomplishes tasks with higher accuracy and precision and helps to reduce operational costs. Recent technologies such as vision-automated guided vehicles provide increased throughput, ensure safety, and help lower labour costs. The introduction of advanced technologies results in enhanced quality and flexible automated systems, which would support the market in the future. The impact of the latest technologies is moderate in the automated material handling equipment market. Its impact is expected to increase shortly, owing to the increasing adoption of automated material handling equipment in the e-commerce industry to the short delivery time of products to customers.
Opportunities in India Automated Material Handling Equipment Market
The Increasing Level of Demand Customization and Personalization
As the choice for customized and personalized product orders grows among online buyers, e-commerce companies are discovering it is difficult to process complicated orders through manual procedures. Moreover, customers with the delivery of these customized orders at lower expenses and with the same delivery speed as regular orders. The increasing popularity of customized orders has forced manufacturers and warehouse operators to improve the efficiency and speed of their selection and sorting processes to reach business success. Also, manual processing of customized orders increases the probability of errors due to the added complexity. Automated materials handling systems such as robotic pickers, ASRS, AGV, automated sorters, and conveyors can help handle customized orders faster and reduce error rates to a great extent.
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Restraints in India Automated Material Handling Equipment Market
Increased Cost for Buying & Maintaining to Hinder the Market
The increased initial costs of integration, procurement, installation, accessories, programming, and different services are restricted the market growth. It controls businesses, particularly Small and Medium-sized Enterprises. As a consequence of the low-volume manufacturing & delayed Return on Investments (ROI), multiple businesses need help to raise massive amounts of cash. High maintenance costs are also a stumbling block to developing the global market. The cost of software upgrades, replacement of different parts and other devices, and increasing ownership costs donate to the market's slowdown, further restricting the growth of material handling equipment.
Pre Covid-19 Impact on India Automated Material Handling Equipment Market
Before the covid-19 period, To eliminate human interaction and improve logistics management, this equipment was increasingly regularly brought out utilizing automated material handling technology. , the production planning, resource allocation, inventory control, flow and process management, and after-sales support and services are also helped by it. As a result, many businesses rely on automated handling technology to improve customer service, minimize inventory, shorten delivery times, and reduce total handling costs.
Covid-19 Impact on India Automated Material Handling Equipment Market
During the covid-19 period, restrictions and stringent Standard Operating Procedure guidelines lockdowns impacted the standard supply chain of the market. The full breakdown of the supply chain increased the inability of the market participants to continue the streamlined supply of their products within the market. The pandemic brought main market players' manufacturing skills to a sudden halt for a short period, creating a large supply-demand gap curtailing possible market growth. The decrease in the cash liquidity compelled works to decrease investments in the research and development division, delaying the introduction of new products integrated with novel technologies and product diversity; all these reasons decrease the growth in the automated material handling equipment market.
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Post Covid-19 Impact on India Automated Material Handling Equipment Market
After the covid-19 period, the adoption of robots in the automated material handling equipment industry has evolved operations and productivity, as shown during the last decade. Manufacturing skills are pushing rapidly to produce high-quality goods with fewer resources in the supply chain. The increased demand for this equipment is further improving the producers to have boosted supply systems.
By System Type Segmental Analysis
. Individual goods are combined into a single unit, authorizing for simple transfer using pallet jacks or forklift trucks. These systems offer effective handling, storing, and distributing in various dimensions and load weights while lowering handling costs and damage by restricting individual handling.
By Application Type Segmental
. It is owing to its utilization of moving material from one site to another. This type of equipment is used to control material in a single spot. Conveyors, cranes, industrial trucks & others (hoppers, reclaimers) are some of the main equipment widely used across different industries.
By End-User Type
Based on end-user segmental analysis, the India Automated Material Handling Equipment Market is segmented into Automotive, Chemical, Healthcare and Others. The construction industry shares the highest share during the forecast period due to significant building and restructuring initiatives in developed and emerging economies. Furthermore, government initiatives for infrastructure development and enormous investment in the real estate industry are helping drive the market.
By Region Type Segmental Analysis
Based on region segmental Analysis the India Automated Material Handling Equipment Market is segmented into North India, South India, West India and East India. The North India market is recorded to show a notable CAGR. The market's growth is attributed to the robust economic progress of all regions in India, with cumulative development of the market in the North region. Also, numerous customer actions and big investments toward enhancing their existing delivery centers and warehousing infrastructure are expanding the material handling equipment market share.
Recent Developments India Automated Material Handling Equipment Market
· November 2022- Daifuku India Private Limited, an automated material handling tech solutions provider, declared its investing 450 crores in setting up a new 2 lakh sq ft intra-logistics equipment facility at Hyderabad; the latest facility will add to the company's current manufacturing footprint of 60,000 sq ft will deliver automated storage and retrieval systems, sortings transmit vehicles conveyors and sorters.
· September 2022- Godrej Consoveyo Logistics Automation Ltd reported its material handling strengthens its product portfolio in Telangana; aims for higher revenue in the region. The city's E-commerce, retail, and pharma companies are fundamental drivers of the warehousing demand in Hyderabad. Retail and e-commerce companies prefer to handle their operations or outsource their logistics and warehousing operations to third-party logistics players and equipment rental providers.
Competitors Analysis
The companies include are Daifuku India Private Limited (Inc. Vega Conveyors & Automation), Armstrong Ltd., Kardex India Storage Solutions Pvt. Ltd., Space Magnum Equipment Pvt. Ltd., Godrej Consoveyo Logistics Automation Ltd., Kion Group AG, Toyota Industries Corporation, Hyster-Yale Materials Handling, Inc., Actioon Construction Equipment Ltd. and other prominent players in India Automated material handling equipment market.
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About this Report
This India automated materials handling equipment market report provides growth drivers, latest opportunities, Segment revenue, covid-19 impact, restraints and major players. In addition, this report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the market, along with changing dynamics and trends.
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