Order Picker Machines Market Report Overview
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The global order picker machines market size is expected to be USD 699 million in 2020 and the market is projected to touch USD 1176.59 million by 2031, exhibiting a Compound annual growth rate (CAGR) of 4.8% during the forecast (2024-2031). In the market study, our analysts have considered order picker machines players such as Toyota, Kion Group, Jungheinrich and Crown Equipment.
The COVID-19 pandemic has been unprecedented and staggering, with order picker machines market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.
Order picker machines are advanced warehouse vehicles designed to enhance efficiency in order fulfillment processes. These machines are equipped with a vertical lifting mechanism that allows operators to access and retrieve products from high storage locations. With their compact and agile design, order pickers can navigate narrow aisles and tight spaces, optimizing storage capacity. They often feature adjustable forks or platforms that enable operators to reach various heights. Equipped with safety features like anti-slip platforms and guardrails, these machines prioritize operator well-being. Order picker machines are a vital asset in modern warehouses, streamlining picking operations and ensuring prompt and accurate order processing.
The order picker machines market size is increasing significantly as a result of a number of variables that are boosting consumer demand for these goods. First, an increase in order quantities brought on by the expansion of e-commerce and online shopping calls for quick and effective order fulfilment procedures. Warehouses are able to handle increased quantities more quickly and accurately thanks to order picker devices. Second, there is an increasing focus on maximizing storage capacity and optimising warehouse space. The capacity of order pickers to maneuver through tight spaces and access high storage areas enables warehouses to maximize their floor space. Last but not least, the use of order picker machines is being influenced by the emphasis on ergonomics and worker safety since they offer a safer alternative to hand picking techniques.
COVID-19 Impact
"The Pandemic Disrupted Global Supply Chains, Leading To A Renewed Focus On Warehouse Optimization And Operational Efficiency"
The order picker machine market has been significantly impacted by the COVID-19 outbreak. First off, there was a substantial rise in online orders as a result of the pandemic's spike in e-commerce, which increased the need for effective order fulfilment services. As a result, order picker machines are being progressively purchased by warehouses and distribution centres to keep up with the expanding demand and guarantee prompt delivery of goods. Secondly, the pandemic made the value of social isolation and minimising human interaction more apparent. By reducing the requirement for human involvement in selecting tasks, order picker machines offer a practical alternative. This lowers the possibility of viral transmission while simultaneously maintaining safe working settings. The pandemic also hampered international supply chains, which prompted a fresh emphasis on warehouse optimization and operational effectiveness. Order pickers assist firms respond to shifting market dynamics and lessen the effects of supply chain disruptions by increasing productivity and accuracy in order picking.
Latest Trends
"One Obvious Growth In The Market For Order Picker Machines Is The Use Of Cutting-Edge Technologies Such As Automation, Robotics, And Artificial Intelligence (AI)"
The incorporation of cutting-edge technology like automation, robotics, and artificial intelligence (AI) is one noticeable development in the market for order picker machines. This tendency tries to increase overall efficiency and better optimise warehouse operations. Autonomous order picker machines, which can move and function independently and use AI algorithms and sensors to properly locate and collect things, are examples of new products and technology in this field. In order to provide novel solutions, market leaders are aggressively investing in research & development. For instance, some businesses are creating order pickers equipped with cutting-edge vision systems that can more quickly identify and find items. Others are investigating how machine learning algorithms might be included to improve the machines' capacity to adapt to shifting warehouse layouts and optimize picking routes. Leading businesses are also concentrating on creating intuitive controls and user-friendly interfaces to enhance the productivity and experience of operators. To offer comprehensive solutions to their consumers and maintain market competitiveness, they are giving priority to features like improved safety systems, ergonomic designs, and data analytics capabilities.
Order Picker Machines Market SEGMENTATION
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- By type
Depending on order picker machines given are types: low level, medium level, high level. The Low Level type will capture the maximum market share through 2031.
- By Application
The market is divided into Warehouses, Factories, Distribution Centers & Others based on application. The global order picker machines market players in cover segment like Warehouses will dominate the market share during 2031.
Driving Factors
"The Market For Order Picker Robots Is Being Driven In Large Part By The Increased Need For Worker Productivity And Efficiency In Warehouse Operations"
The rising need for labour productivity and efficiency in warehouse operations is a major driver boosting the order picker machines market growth. Businesses are looking for solutions that help expedite their picking operations and lower the need for physical labour as a result of the increasing demand to complete orders precisely and quickly. Order picking equipment has a lot to offer in this aspect since it makes it possible for employees to choose things effectively while navigating tight aisles and high storage areas. Warehouses may increase efficiency and throughput while handling higher order volumes by utilizing the capabilities of order picker machines. Due to increased competition, businesses are working harder than ever to increase operational efficiency and satisfy customer expectations for speedier delivery times. Order picker machine market expansion is therefore significantly fueled by consumer demand for labour productivity and efficiency.
"Another Factor Driving The Market For Order Picker Robots Is The Growing Focus On Worker Safety And Ergonomics"
The rising emphasis on workplace safety and ergonomics is another element boosting the market growth for order picker machines. Businesses have invested in technology that can lessen workplace risks and lower the likelihood of accidents as a result of occupational safety requirements and the acknowledgment of the value of employee well-being. By removing the need for employees to physically utilise ladders or other risky means to grab items from high shelves, order picker machines significantly improve worker safety. Warehouses may offer a safer working environment for their employees and lower the chance of accidents and injuries by using order picker devices. This aspect not only safeguards employees but also assists businesses in reducing the costs of workplace accidents, including medical bills and potential legal liabilities. Therefore, the rising market acceptance of order picker robots is driven by the growing emphasis on worker safety and ergonomics.
Restraining Factors
"One Factor Limiting The Growth Of The Expansion Is The Initial Investment Cost Associated With Acquiring And Implementing This Technology"
The initial investment cost related to purchasing and deploying this technology is one restraint on the order picker machines market growth. Order picker machines are complex, specialised pieces of machinery that sometimes need a sizable initial investment. For certain companies, especially small and medium-sized firms (SMEs) with tight resources, this might be a costly obstacle. In addition to the purchase price, order picker machine costs also include installation, training, and maintenance costs. The expense of changing the warehouse's infrastructure to fit the equipment may also be included. These financial factors may discourage some companies from using order picker machines, especially if they already use other, more affordable strategies.
Order Picker Machines Market Regional Insights
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"North America Is Anticipated To Grow Significantly Due To A Focus On Increasing Productivity, Lowering Labour Costs, And Assuring Correct Order Processing"
The leading region with the highest order picker machines market share is expected to be North America. This region has a well-established and technologically advanced logistics and warehousing sector, coupled with a high adoption rate of automation and robotics in various industries. The North American market is driven by factors such as the strong presence of e-commerce giants, rapid growth in online retail, and the need for efficient order fulfillment processes. Moreover, the region has a robust manufacturing industry that requires effective warehouse management solutions. With a focus on enhancing productivity, reducing labor costs, and ensuring accurate order processing, North America is poised to experience significant growth in the adoption of order picker machines in the coming years.
The second-leading region in the market for order picker machines is anticipated to be Europe. Europe boasts a well-developed logistics and warehousing infrastructure, driven by the region's strong manufacturing sector and expanding e-commerce market. The adoption of automation and robotics in European warehouses is steadily increasing, with a focus on improving operational efficiency and meeting growing customer demands. The region's emphasis on sustainability and eco-friendly practices also aligns with the benefits offered by order picker machines. As a result, Europe is expected to witness significant growth in the adoption of order picker machines as businesses strive to optimize their supply chains and enhance overall productivity.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Toyota (Japan)
- Kion Group (Germany)
- Jungheinrich (Germany)
- Crown Equipment (U.S)
- Mitsubishi Logisnext (Japan)
- Hyster-Yale (U.S.)
- Hyundai Heavy Industries (South Korea)
- Doosan Industrial Vehicles (South Korea)
- Clark Material Handling Company (U.S.)
- EP Equipment (China)
- Komatsu (Japan)
- Manitou (France)
- Hangcha (China)
- TAWI (Sweden)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 699 Million in 2020 |
Market Size Value By |
US$ 1176.59 Million by 2031 |
Growth Rate |
CAGR of 4.8% from 2020 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types and Applications |
Frequently Asked Questions
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What value is the order picker machines market expected to touch by 2031?
The global order picker machines market size is expected to reach USD 1176.59 million by 2031.
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What CAGR is the order picker machines market expected to exhibit by 2031?
The order picker machines market is expected to exhibit a CAGR of 4.8% by 2031.
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Which are the driving factors of the order picker machines market?
The driving factors of the order picker machines market are the increased need for worker productivity and efficiency in warehouse operations and growing focus on worker safety and ergonomics.
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Which are the key players or most dominating companies functioning in the order picker machines market?
The dominating companies in the order picker machines market are Toyota, Kion Group, Jungheinrich, Crown Equipment.