Portland,OR, Oct. 27, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Japan automated material handling equipment market was pegged at $4.27 billion in 2020, and is anticipated to hit $10.34 billion by 2030, registering a CAGR of 9.2% from 2021 to 2030. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Rise in need for automation in industries, technological advancements in automated material handling equipment, and emerging markets in the country drive the Japan automated material handling equipment market. On the other hand, high initial costs impede the growth to some extent. However, developments in the e-commerce industry are projected to create lucrative opportunities in the industry.
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COVID-19 scenario-
- The mandatory lockdown measures in the country and delay in the production and manufacturing of automated material handling equipment impacted the market negatively, especially during the initial phase.
- However, as the situation is getting better across the country, the Japan automated material handling equipment is anticipated to get back on track soon.
The Japan automated material handling equipment market is analyzed across product type, system type, component, application, and industry vertical.
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Based on product type, the robotic system segment accounted for more than one-third of the total market share in 2020, and is expected to rule the roost by 2030. The same segment would also cite the fastest CAGR of 10.8% throughout the forecast period.
Based on component, the hardware segment contributed to nearly three-fifths of the total market revenue in 2020, and is expected to lead the trail by 2030. Simultaneously, the services segment would exhibit the fastest CAGR of 10.1% from 2021 to 2030.
Based on application, the storage held the major share in 2020, holding more than one-fourth of the total market. The packaging segment, however, would showcase the fastest CAGR of 10.7% by 2030.
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Top Key Companies:
The key market players analyzed in the Japan automated material handling equipment market report include IHI Asia Pacific Pte. Ltd, Sumitomo Heavy Industries, Tsubakimoto Chain Group, Daifuku Co., Ltd., Seibu Electric & Machinery Co., Ltd., Toyota Industries Corporation, Murata Machinery, Ltd., Maxpull Machinery & Engineering Co., Ltd, TOYO Kanetsu K.K., and Okura Yusoki Co., Ltd. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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