TOP 20 Chinese Logistics and Warehousing Automation Suppliers Revenue Ranking in 2022

In May 2022, MMH released the latest ranking of the world's top 20 logistics and warehousing automation suppliers.

Affected by the epidemic and inflation, global supply chain pressures and challenges still exist. Against the backdrop of deepening globalization, regional security blockades and supply disruptions have had a profound impact on various industries.

Each logistics and warehousing automation supplier focuses on one or more vertical segments. Changes in demand in the segmented industries will have a direct impact on the performance of each major logistics and warehousing automation supplier to a large extent.

Overall, the total revenue of the world's top 20 logistics and warehousing automation suppliers in 2022 reached US$31.9 billion, a significant increase from the US$25.9 billion of the top 20 suppliers in 2021, an increase of 23%, mainly driven by the growth in demand in the e-commerce field.

17 out of the 20 companies achieved year-on-year revenue growth, accounting for 85%. Among them, 5 companies achieved an increase of more than 30%, namely Dematic (33.26%), Honeywell (45.69%), MHS (30.43%), WITRON (45.26%), and MECALUX (53.66%).

GGII data shows that the smart warehousing market size in 2021 was 126 billion yuan, a year-on-year increase of 28.49%, with a significant increase in growth rate.

From the perspective of market demand, in 2021, affected by the catalytic effect of the epidemic, downstream industry customers' awareness of smart warehousing applications has increased significantly. Coupled with the rising labor costs, the pressure to reduce costs and increase efficiency has increased, and downstream industry customers have strengthened their willingness to introduce smart warehousing. It can be said that the epidemic has greatly accelerated the process of marketization of smart warehousing in China, while triggering more potential market demand. GGII predicts that by 2025, the scale of the smart warehousing market is expected to exceed 220 billion yuan.

China's intelligent warehousing system market size and forecast from 2015 to 2025 (unit: 100 million yuan, %)

Data source: Gaogong Robot Industry Research Institute (GGII)

GGII has sorted out and investigated most of China's logistics and warehousing automation suppliers, combined with public data and interviews with industry experts, and mainly considered the revenue scale of the logistics and warehousing automation system business, and selected the TOP 20 ranking of China's logistics and warehousing automation suppliers in terms of revenue in 2022, aiming to present the competitive landscape of China's warehousing automation field from another perspective.

Note: 1. The company revenue here mainly counts the business revenue related to warehouse automation, including hardware equipment, software, system integration and other related business revenue;

2. Because some manufacturers did not disclose their revenue data, they were not included in this list.

From the attributes of the listed companies, there are 11 listed companies and 3 quasi-listed companies among the 20 listed companies, accounting for 70% in total. The revenue scale of the listed companies (referring to warehouse automation related businesses) is generally between 200 million and 2 billion yuan, and there are very few companies with revenue exceeding 2 billion yuan. Compared with the scale and volume of international manufacturers, domestic manufacturers still have a lot of room for growth.

Listed companies warehouse automation system Business Revenue Distribution

From the perspective of the listed companies, comparing the revenue levels in 2020-2021, it can be seen that most manufacturers have achieved relatively high growth in 2021. Among them, there are 2 companies with revenue exceeding 2 billion yuan, 1 more than the previous year; the number of companies with revenue in the range of 1-2 billion yuan reached 8, 4 more than the previous year; the number of companies with revenue in the range of 500-1 billion yuan reached 6, 1 less than the previous year.

From the perspective of product layout, against the background of increasing convergence of traditional hardware equipment, various manufacturers are striving to seek new growth poles. On the one hand, they are investing more resources to supplement and enhance their own software capabilities, either through independent research and development, external cooperation, or external mergers and acquisitions; on the other hand, they are deploying innovative product business areas, such as unmanned forklifts, AMRs, shuttle vehicles, etc., aiming to meet the needs of more and more customers in different industries for "integrated logistics and warehousing system solutions . "

In the long run, the coordinated unification of hardware and software will be the general trend, and single hardware or software is not enough to support warehouse automation companies to win the future. Whether it is software (algorithms) defining hardware or hardware defining software, it is certain that under the general trend of intelligent warehouses, downstream requirements for warehouse automation manufacturers will become higher and higher. At the same time, it can be seen that more and more production line automation (integration) manufacturers are beginning to enter the field of warehouse automation. The intelligent connection between production lines and warehouses has been first implemented in some industries. From this perspective, competition in the field of warehousing and logistics is still full of variables and uncertainties.

On the one hand, the development of the field of logistics and warehousing automation in China is relatively lagging. At first, several state-owned enterprises were the main participants (the first-mover advantage still exists). With the continuous deepening of marketization, the structural differentiation of downstream industries has become increasingly intensified, and the number of market participants has increased rapidly, including many cross-border entrants. On the other hand, the integration of the Chinese market has begun to emerge, such as Noli's acquisition of Wuxi Zhongding in 2016 and the French SAVOYE company in 2019; Yinfei Storage acquired 100% of the equity of Robotech in 2021 and 100% of the equity of Wuqiang Intelligence in 2022.

In addition, more and more companies are seeking to enter the capital market, such as Beijing Zigong Technology, Kunchuan Intelligent, and Kejie Intelligent, which are all in the process of listing. GGII believes that with the current many complex external factors, the industry competition has begun to enter the second half, and companies with core software and hardware technologies and the ability to combine industry scenarios and know-how for customized research and development and adaptation are expected to stand out.

Disclaimer : 1. The above data is based on GGII research and public data. Some companies are unwilling to provide relevant information or are unwilling to participate in the ranking, so GGII is not included in the ranking;

2. The ranking is based on the business operations of the companies in 2021;

3. We try to cover China's warehouse automation system suppliers as comprehensively as possible, but we do not rule out the possibility of omissions. If there are any omissions, please contact us as soon as possible so that we can update it in the next issue.