Material Handling Equipment Market Overview:
The market for material handling equipment is projected to grow to US$ 316.91 billion by 2029. Material handling equipment includes tools, trucks, warehouses, and accessories used in the transportation, storage, control, calculating, and counting of items at any point in the production, distribution, usage, or disposal process. The product, operation, system type, end use, and region divisions of the material handling equipment market are the main topics of this report. This study provides a detailed overview of the top players in the industry and their respective regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It offers a thorough examination of the remarkable progress seen by the many sectors in the modern period. Figures, photos, and slideshows emphasize the essential data analysis from 2018 to 2022.
Material Handling Equipment Market size was valued at US$ 217.85 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 5.5% from 2023 to 2029, reaching nearly US$ 316.91 Bn.
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Dynamics of the Material Handling Equipment Market:
Market forces:
The market for material handling equipment is expanding generally due to the rapid growth of the worldwide e-commerce industry and the active consumer behavior it fosters. For example, the total amount spent on internet shopping worldwide in 2019 was USD 3.46 trillion. It is anticipated that the increasing ubiquity of internet buying will propel the market for material handling equipment.
Because of the customisation of the equipment and systems that are integrated with the supply chain and storage ecosystems, manufacturers and industrial sectors are becoming more visible. Furthermore, the need for material handling equipment is being driven by the growing cost of labor in developed nations.
Material Handling Equipment Market Regional Insights
The thorough regional analysis carried out by Material Handling Equipment market research precisely identifies market drivers and illuminates’ changes in regional regulations, impacting current and future market trends. By carefully examining both established and emerging trends, the research aims to evaluate the untapped potential within the market and identify profitable trends to improve market positioning. This assessment, covering the current landscape and anticipated developments, forms the basis for understanding the dynamics of geographical markets.
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Material Handling Equipment Market Segmentation
by Product
Storage and Handling Equipment
Automated Storage and Retrieval System
Industrial Trucks
Bulk Material Handling Equipment
Others
The market is divided into categories based on the product, including bulk material handling equipment, industrial trucks, automated storage and retrieval systems, storage and handling equipment, and others. By 2029, the Industrial Trucks category is anticipated to command the highest market share . These vehicles have several industrial applications, which makes them a popular choice. Huge crates or containers are transported by industrial vehicles in several end-use markets, which increases their market share. Battery-operated vehicles will become more in demand during the predicted period as logistic organizations work to introduce sustainable products.
by Operation
Assembly
Transportation
Packaging
Distribution
Others
by System Type
Unit Load Material Handling System
Bulk Load Material Handling System
by End-User
Automotive
Food & Beverages
Chemical
Semiconductor & Electronics
E-commerce
Aviation
Pharmaceutical
Automotive, Food & Beverages, Chemical, Semiconductor & Electronics, E-commerce, Aviation, Pharmaceutical, and Others are the market segments based on the End Use. Over the projected period of 2023–2029, the e-commerce segment is anticipated to grow fast at a CAGR of. The market was supported by a sharp rise in demand for the distribution and transportation of basic goods like food notwithstanding the lockdown limitations. The impact of the coronavirus won't be immediate; instead, it will have a long-term influence on industry demand, creating opportunities for material handling equipment suppliers.
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Material Handling Equipment Market Key Players
1. Daifuku
2. Kion Group AG
3. SSI Schaefer
4. Toyota Industries
5. Honeywell International
6. Hyster-Yale Material Handling
7. Hanwha
8. John Bean Technologies
9. Beumer
10.Murata Machinery
11.TGW Logistics
12.Mobile Industrial Robots
13.Invia Robotics
14.Avancon
15.Locus Robotics
16.Addverb Technologies
17.Meiden America
18.Automation Logistic
19.Invata Intralogistics
20.Westfalia Technologies
Material Handling Equipment Market Scope:
Following the market valuation phase, we embarked on an exhaustive primary research endeavor to gather, analyse, and validate crucial data. This encompassed evaluating market size, forecasting, identifying key drivers, and cross-referencing data during statistical analysis. Employing both top-down and bottom-up methodologies, alongside other validation techniques, we meticulously scrutinized market segments and sub-segments outlined in this study. All collated data underwent rigorous qualitative and quantitative analysis to ensure the provision of robust insights in the report.
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Key questions answered in the Material Handling Equipment Market are:
- What is Material Handling Equipment?
- What is the growth rate of the Material Handling Equipment Market?
- Which are the factors expected to drive the Material Handling Equipment market growth?
- What are the different segments of the Material Handling Equipment Market?
- What growth strategies are the players considering to increase their presence in Material Handling Equipment?
- What are the upcoming industry applications and trends for the Material Handling Equipment Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Material Handling Equipment Market?
- Who are the leading companies and what are their portfolios in Material Handling Equipment Market?
- What segments are covered in the Material Handling Equipment Market?
- Who are the key players in the Material Handling Equipment market?
Key Offerings:
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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