Asia Pacific Material Handling Equipment Market Evolution boosting the growth worldwide by 2025
Category: #business  By Rahul Varpe  Date: 2020-10-15
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Asia Pacific Material Handling Equipment Market Evolution boosting the growth worldwide by 2025

Asia Pacific Material Handling Equipment Market is expected to exceed USD 80 billion by 2025. Increasing adoption of automated technologies in the industries for handling and transporting industrial goods from one department to other is driving the efficiency of business operations. These industries are investing highly to transform their manual industrial operations to automated processes. With the rapid increase in demand for industrial goods by customers, the industries are engaged in speeding up their production capabilities, which is encouraging them to install robotic technologies, thereby accelerating the Asia Pacific material handling equipment market growth.

The Asia Pacific material handling equipment market is witnessing increased adoption of Automated Guided Vehicles (AGVs) in several application sectors, such as warehouses, third-party logistics, and e-commerce, allowing these businesses to perform heavy loading operations with the help of remote monitoring technologies. The movement of these machinery is directed with the combination of sensor-based guidance system and software tools. It offers safe movement of the loads due to controlled acceleration and deceleration with the help of automatic obstacle detection bumpers. Such advantages are encouraging the industrial segments to install these automated technologies in their facilities, thereby accelerating the Asia Pacific material handling equipment market.

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The online retail channel segment is witnessing high growth in the Asia Pacific material handling equipment market due to a rise in the number of players offering diversified product categories in different price ranges. With an increase in the number of online options, customers have a wide range of alternatives to select the products specific to industrial requirement and within their budget. Moreover, these online channels also offer several discounts, warranties, and additional benefits attracting the interests of industrial customers for online purchases. The region is witnessing an increased competition in the online retail channel segment to cater to the widespread demand of the industrial customers, thereby propelling the Asia Pacific material handling equipment market growth.

Increasing adoption of modern technologies in the e-commerce sector is expected to drive the Asia Pacific material handling equipment market. Countries including India and China are witnessing a rise in the number of customers moving toward online shopping due to increased flexibility and customization. The e-commerce industry is flourishing at a rapid pace in India due to the strong presence of the global as well as the domestic players operating such as Amazon, Flipkart, Snapdeal, Myntra, and others. With such an increase in the number of online orders, the e-commerce sector is engaged in modifying its industrial processes with the adoption of automated technologies to enhance the production and distribution rate.

Rapid industrialization and urbanization trends in this region are the major factors contributing to the growth of the Asia Pacific material handling equipment market. Several economies, such as Singapore, Australia, Malaysia, and Japan, are among the major countries that have a high industrialization intensity index. The rising interest of the global companies to establish their manufacturing base in the region due to the availability of cheap labor and abundance of resources is accelerating the Asia Pacific material handling equipment market growth. These industrial segments are installing modern & automated technologies in their facilities to simplify the business operations and enhance the efficiency in their processes.

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The major players participating in the Asia Pacific material handling equipment market are: Clark Material Handling Company, Bastian Solutions, LLC, Dematic GmbH & Co., BEUMER Group GmbH & Co. Kg, Crown Equipment Corporation, Hyster-Yale Materials Handling, Inc., KION Group AG, JBT Corporation, Liebherr Group, Toyota Industries Corporation, Mitsubishi Caterpillar Forklift America, Inc., KUKA AG, Honeywell Intelligrated, Inc., Siemens AG, and Kardex AG. The players in the APAC material handling equipment market are engaged in partnering with industrial customers to develop a long-term relationship, thereby enhancing their sales & profitability. For instance, in October 2017, KUKA AG signed a supply agreement with Gebo Cermex to offer its robotic technologies to Gebo Cermex's packaging line.

 

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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