Asia-Pacific MHE market to hit $75 bn by 2026

The Asia-Pacific material handling equipment market size is expected to gain from the shifting preference from semi-automated equipment to fully automated equipment.

According to a recent study from market research firm Graphical Research, the Asia-Pacific material handling equipment (MHE) market size is poised to expand at a substantial CAGR during the forecast period. With tech-driven logistics powering the Asian e-commerce industry, the demand for efficient material handling equipment has been witnessing an uptick. The manufacturing, warehousing, and distribution of products and materials requires diverse equipment and storage systems, ranging from conveyor belt systems to automated guided vehicles (AGVs). 

Some of the major industries that have been deploying latest material handling equipment include manufacturing, construction, food & beverage, automotive, medical & pharmaceutical, consumer goods, aerospace, and retail. In terms of end-user, 3PL industry has been exhibiting an expanding demand across Asia Pacific material handling equipment market, in the wake of the escalating demand for e-commerce fulfillment.

With the growing labour costs, third-party logistics companies are seeking to upgrade their inventory management using cutting-edge technologies. These companies, including Deutsche Post DHL and FedEx, have been integrating flexible warehouse designs to offer accurate and on-time product deliveries.

The widespread use of industrial trucks has been pushing Asia-Pacific material handling equipment industry forecast. Forklifts, self-propelled industrial trucks, driverless industrial trucks, manual and semi-manual trucks are leveraged within warehouses and production units.

The Asia-Pacific material handling equipment market size is expected to gain from the shifting preference from semi-automated equipment to fully automated equipment. As such, the automated storage and retrieval system (AS/RS) segment is expected to register notable demand from transport and logistics companies. These systems are integrated with automated hardware and software for precise picking and replenishment of goods. 

AS/RS systems enable a faster and effective way of moving goods across industrial facilities leveraging vertical and horizontal storage carousels. By minimising the wasted travel time across widely placed racking and several trips down the storage aisles, these systems allow adjustment of racking to save on space and time, accelerating APAC material handling equipment market forecast. Loads of all sizes can be transported automatically between drop-off and retrieval locations, whereby forklifts or other equipment pick them up. 

All movements can be tracked and recorded in real-time, thanks to the use of RFID tags. Minimisation of labour and inventory levels, maximisation of available floor space, reduced need for storage audits, and simplification of inventory management are some of the most prominent benefits of these systems, which are accelerating their adoption across APAC material handling equipment market outlook.

Source:

https://www.graphicalresearch.com/industry-insights/1746/asia-pacific-material-handling-equipment-market

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