DUBLIN–(BUSINESS WIRE)–The “North America Automated Material Handling Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The North America Automated Material Handling market was valued at USD 9862.34 million in 2020 and is anticipated to witness a CAGR of 7.73% over the forecast period (2021 – 2026).
Modern manufacturing facilities in North America are relying on new technologies and innovations to produce higher quality products at faster speeds with lower costs. In order to survive in the current competitive scenario, implementing more intelligent software and hardware is proving to be the only way, as the region suffers with workforce shortage.
According to the Association for Advancing Automation (A3), a global advocate for the benefits of automating, in the first three quarters of 2017 alone, the region was received over 27,294 robots valued at approximately USD 1.473 billion, which is the highest level ever recorded in any other year during the same period, indicating a high level of automation in the region.
Owing to this the region has been witnessing an increase in automated tools and equipment. According to RIA, approximately 250,000 robots are now in use in the United States, accounting for the third-highest in the world, behind Japan and China. The machine vision market, which is directly linked to industrial robots, grew at a significant rate, with North American sales of machine vision systems and components increasing by 10% year-over-year to USD 597 million in the first quarter of 2017.
Moreover, the e-Commerce logistics costs in the United States accounts for over 6.9% of the total US logistics costs. The importance of the last mile in the supply chain will never be lost, however, manufacturers realize that there is no last mile without the first. Applying the right material handling technology produces measurable cost savings while bringing an immediate ROI.
Quite recently, a leading American retail company, Kroger entered a partnership with, the UK online supermarket, Ocado, in order to use its technology to manage warehouse operations, automation, logistics, and delivery route planning in the country. This partnership is set to revolutionize the retail sector with the aid of AMH equipment in the United States.
Key Market Trends
AGV to Hold Significant Share
The Automated Guided Vehicles provide high return on income when compared to the traditional forklift trucks. Several studies indicate that AGVs perform best at even workflows where end users benefit from reducing empty driving to a minimum. AGVs can be used in a wide variety of industries and get significant efficiency gains, but the return on investment factors also depend on the nature of business, type of load, deployment location, vehicle efficiency, supporting infrastructure, and shift times. For example, according to a recent study conducted by Mobile Industrial Robots ApS, a prominent AGV vendor in the global market, average year cost over a 5 year period for operating five AGVs is about one third of the average cost for operating two manual forklift trucks. Also, John Bean Technologies AB (JBT) suggest that installing multiple AGVs as a fleet fetches good returns when compared to single systems. The company suggests that installing a fleet of ten units cold fetch 156 time more savings when compared to a single system. The United States and the Canadian companies are also rapidly replacing traditional equipment with efficient AGVs. In recent past, Canadian Tire Corporation had replaced the trucks with specially designed AGVs capable of working in the same area, bringing automation rather than upgrading an aging fleet of narrow-aisle turret trucks that are used to replenish pick faces in a pallet flow area. Additionally, due to remarkable growth in e-commerce, the retail sector in the country has also flourished in the recent years. With almost 208 million e-shoppers in the region and branded chains of retail stores, like Walmart, United States is one of the largest retail markets. Such factors have further supported the growth of the market in the segment. Competitive Landscape
The North America automated material handling market is fragmented and highly competitive in nature. Product launches, high expense on research and development, partnerships and acquisitions, etc. are the prime growth strategies adopted by the companies in the country to sustain the intense competition.
Companies Mentioned
Dematic Corp. Bastian Solutions Inc. DMW&H Westfalia Technologies Inc. Premier Tech Chronos Cornerstone Automation Systems LLC Oceaneering International Inc. Aethon Inc. OPUS Automation Inc. Creative Automation Inc. Remtec Automation Shuttleworth LLC Siggins Honeywell Intelligrated JBT Corporation For more information about this report visit https://www.researchandmarkets.com/r/60re27