Asia Pacific Material Handling Robotics Market Size More Than Doubles to Reach USD 39 Billion by 2029

Published | 08 May 2023

Asia-Pacific material handling robotics market is flourishing because of increasing deployment of industrial collaborative robots and growing manufacturing facilities.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Asia-pacific material handling robotics market size at USD 17.14 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Asia-Pacific material handling robotics market size to grow at a robust CAGR of 12.39% reaching a value of USD 38.6 billion by 2029. Major growth drivers for Asia-Pacific material handling robotics market include an increasing upgradation of existing infrastructure with modern technologies, growing adoption of robots across many sectors to provide automation in processes and activities, and an increasing focus by major manufacturers on adopting technology advancements. Another factor driving the market is firms' rising investments in R&D to enhance the capabilities and efficiency of material handling robots. Also, advancements in AI and ML are boosting these robots' capabilities and allowing them to do difficult jobs. The availability of skilled personnel and favorable government policies to promote industry automation could drive the Asia-Pacific material handling robots market during the forecast period. However, rising labor cost is anticipated to restrain the growth of Asia-Pacific material handling robotics market during the period in analysis.

Asia-Pacific Material Handling Robotics Market – Overview

Material handling robots are employed in the manufacturing line to automate some of the most monotonous, tedious, and dangerous operations, and they are one of the simplest ways to expand automation. Material handling robots are used in a variety of industries, including palletizing & depalletizing, pick & place, and packaging. They are used to improve material handling skill, flexibility, and consistency in production procedures. The consistency of material handling robots in a manufacturing facility not only reduces ergonomic risks but also helps to improve the business's lean management system.

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Impact of COVID-19 on Asia-Pacific Material Handling Robotics Market

COVID-19 had a detrimental impact on material handling robotics market across Asia Pacific. The pandemic disrupted the supply chain, affecting the manufacturing and distribution of material handling robots, resulting in delivery and installation delays. Also, it has resulted an economic downturn, which has resulted in lower demand for material handling robots in various industries, including automotives, construction, and aviation. Some companies may have reduced budgets for capital investments, including the adoption of automation, which could hinder the growth of the market. However, with social distancing measures in place and disruptions in the supply chain, many companies have turned to automation to maintain operations. This has led to an increase in demand for material handling robots. Also, with the pandemic prompting people to shop online more, e-commerce has experienced significant growth. Material handling robots are used extensively in e-commerce warehouses, leading to increased demand for these robots. Governments in the Asia-Pacific region have provided support to the manufacturing industry, including incentives for the adoption of automation, which has helped boost the market for material handling robots.

Asia-Pacific Material Handling Robotics Market – By Function

Based on function, Asia-Pacific material handling robotics market is segmented into Storage, Transportation, Assembly, Packaging, Distribution, and Waste Handling. In 2022, the transportation segment dominated the Asia-Pacific material handling robotics market. The segment is expected to continue its dominance during the forecast period due to the increasing demand for automated guided vehicles (AGVs) and mobile robots in various industries, such as automotive, e-commerce, and healthcare. The storage segment also held a significant share in the market, owing to the need for efficient and accurate storage and retrieval of goods in warehouses and distribution center. However, the growth in the transportation segment is expected to outpace the growth in other segments during the forecast period.

Competitive Landscape

Major players operating in Asia-Pacific material handling robotics market include ABB, Universal Robots, Nachi Robotic Systems, Inc, Rethink Robotics, KUKA AG, FANUC Corporation, Robert Bosch GmbH, Kawasaki Heavy Industries, Ltd, Precise Automation, Inc., MRK-Systeme Gmbh, and Energid Technologies Corporation. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Asia-Pacific Material Handling Robotics Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Asia-Pacific Material Handling Robotics Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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