LONDON--(BUSINESS WIRE)--Technavio’s research report on the automated material handling equipment (AMHE) market in North America forecasts the market to grow at a CAGR of around 8% during the forecast period.
The increasing need for automated systems to handle SKU proliferation will be one of the major trends in the automated material handling equipment market in North America during 2019-2023. There has been considerable growth in the number of SKUs available in the market due to the increase in consumer demand for FMCG products. The consumers are demanding products of different tastes, sizes, shapes, and other customizations. For instance, the SKUs in both alcoholic and non-alcoholic beverages are expanding in the beverage industry. As of September 2017, Craft beers SKUs have witnessed an increment of more than 100% when compared with 2016.
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According to Technavio analysts, one of the key drivers for the automated material handling equipment market in North America is the shortage of labor in North America:
Automated material handling equipment market in North America: Shortage of labor in North America
The end-user industries such as manufacturing, food and beverage, heavy industries, chemicals, e-commerce, and pharmaceutical industries are highly dependent on skilled workers. The skilled workers are categorized into highly skilled workers (such as engineers and scientists) and moderately skilled workers (such as machinists, electricians, and technicians) in North America. The number of moderately skilled workforce is less when compared with the highly skilled workforce, which is leading to high demand for moderately skilled workforce across all industries in North America.
According to a senior research analyst at Technavio, “The high demand and low availability of moderately skilled workforce is resulting in increased cost of recruitment and training for working at distribution centers, warehouses, and other similar facilities. Thus, many end-user industries are shifting toward the adoption of AMHE as a proactive strategy to hedge the expected shortage of labor and to avoid the higher labor cost.”
Automated material handling equipment market in North America: Segmentation analysis
This report on the automated material handling equipment market in North America provides market segmentation by product (conveyor system, AS/RS, robotics system, and AGV), by end-user (automotive, e-commerce and 3PL, food and beverage, retail, and other end-users), and by region (the US and rest of North America). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major products, the conveyor system segment of the AMHE market in North America was valued at USD 4,010.86 million in 2018 and is expected to reach USD 5,220.71 million by 2023, projecting a CAGR of 5.41%.
The US held the largest share of the market in 2018, accounting for close to 75% share. This region is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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