Press release
Material Handling Equipment Market 2018-2024 Growth Statistics & Regional Revenue By Top Players Liebherr Group, Vanderlande, KUKA Robotics, Siemens, Dematic, Hyster-Yale Group, Jungheinrich AG.
The robotics segment in the material handling equipment market is expected to witness significant CAGR of over 8% to reach over USD 20 billion by 2024 owing to the demand for high-performance robotic systems across various industry verticals. Robots facilitate easy and fast pick & place of material thereby ensuring accuracy and eliminating human involvement. The rising awareness about the advantages of automated systems globally will fuel the demand for robots across industries. Extensive R&D undertaken in the field of robotics & AI in countries including Japan and China is expected to fuel the material handling equipment market over the forecast period. The incorporation of machine learning capabilities in the robots to increase productivity with predictive maintenance further contributes to the industry demand.
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The expanding 3PL sector globally is expected to witness a CAGR of over 6% in the material handling equipment market. The increasing complexity of supply chains is compelling businesses to turn towards 3PL service providers to ensure smooth and efficient operations. 3PL service providers are focusing on real-time systems for enhanced visibility. Furthermore, the flourishing durable manufacturing sector in countries including India and China is providing impetus to the market. The growing durable manufacturing industry adopting the latest technologies for production in countries including France and Germany will surge the demand for the equipment.
The developments in the manufacturing sector in countries such as Japan, China, and India are expected to propel the material handling equipment market growth. These systems are increasingly being adopted in warehouses and production facilities for automating all processes. The growing transportation & logistics industry in the U.S. is providing growth opportunities to the industry value at over USD 25 billion in 2017. The early technology adoption in the region and the ongoing R&D in the U.S. will fuel the material handling equipment market demand. Stringent government regulations related to operator safety in Europe are compelling manufacturers to use high-quality machines that comply with the existing standards.
Toyota Industries’ yesteryear tie up with renowned material handling equipment industry player Bastian Solutions LLC is an exemplary precedent depicting the same. The industry landscape is prominently underlined by technological interventions and development in logistic operations, where the parameters define the key to opportunities and profitability. Amidst this dynamic competitive scenario, product improvisation via mergers & acquisitions have emerged as the top-notch growth strategy adopted by the major players.
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The deal signified Toyota full-scale entry in the North America material handling equipment market, in the backdrop of the massively expanding e-commerce sector in the region. It is prudent to mention that e-commerce is indeed one of the major application avenues for material handling equipment industry growth. The segment contributed a total of USD 14 billion to the overall business in 2017.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Bastian Solutions, LLC
2. KUKA Robotics
3. Beumer Group GmbH & Co. Kg
4. Clark Material Handling Company
5. Columbus McKinnon
6. Crown Equipment Corporation
7. Daifuku Co., Ltd.
8. Dematic GmbH & Co., KG
9. Flexlink
10. Hyster-Yale Materials Handling, Inc.
11. JBT Corporation
12. Jungheinrich AG
13. Kion Group AG
14. Liebherr Group
15. Mecalux S.A.
16. Mitsubishi Caterpillar Forklift America Inc.
17. Murata Machinery, Ltd.
18. Vanderlande Industries
19. Intelligrated, Inc.
20. Swisslog AG
21. Knapp AG
22. TGW Logistics Group GmbH
23. Grenzebach Maschinenbau GmbH
24. Witron logistik + Informatik GmbH
25. Kardex AG
26. Dearborn Mid-West Company
27. Egemin Group, Inc.
28. Viastore Systems, Inc.
29. System Logistics
30. Siemens AG
31. SSI Schaefer Group
32. Toyota Industries Corporation
33. Fives Group
Regionally, the European belt is claimed to be highly profitable growth ground for material handling equipment industry, subject to the stringent governmental regulations with regards to workplace safety in the continent. This has subsequently prompted manufacturers to come up with products that are absolutely in compliance with the standards enforced by the European Union regarding design, construction, and handling of the equipment.
Material Handling Equipment Market, By Product
o Storage and handling equipment
• Racks
• Stacking frames
• Shelves, bins and drawers
• Mezzanines
o Industrial trucks
• Automated guided vehicles (AGVs)
• Hand, platform and pallet trucks
• Order pickers
• Pallet jacks
• Side loaders
• Walkie stackers
o Bulk material handling equipment
• Conveyor belts
• Stackers
• Reclaimers
• Elevators
• Others
o Robotics
o Automated storage and retrieval system (AS/RS)
o Unit-load AS/RS
o Multi-load AS/RS
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Through this venture, Plug Power would be integrating its patent fuel cells into Linde’s warehouse vehicles, thereupon increasing the adoption of H2 (hydrogen) in Europe manufacturing market. The collaboration move between Plug Power and Linde is claimed to remarkably facilitate the penetration of hydrogen fuel cells across Europe. Underlined by similar strategic developments in the manufacturing sector, Europe would continue to witness a percentage of supremacy in the business sphere. In terms of commercialization potential, Europe materials handling equipment industry share is forecast to exceed USD 25 billion by 2024.
While a rich application landscape ensures a rather lucrative terrain for the material handling equipment market, the huge capital investments in the maintenance and operation of these equipment might challenge the industry trends in the coming years. Also, the complexity associated with integrating hardware and software in one platform for upgrading the manufacturing facilities is another deterring factor in materials handling equipment industry growth, Nonetheless, with industry participants making incessant efforts toward developing products that are affordable and efficient, the market is certain to witness remarkable proceeds in the coming timeframe.
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One of the anticipated trends to be watched for remains the growth of material handling equipment market in emerging economies, where manufacturing sector is booming. The robotic technology will also mark a disruption of sorts in this domain, primarily fueled by the demand for cost-effective and efficient approaches. In this regard, China and India which are indeed witnessing a remarkable rise in industrialization are slated to be the chief avenues for material handling equipment market. In fact, Asia Pacific, driven by these economies is expected to witness an appreciable CAGR of 6.5% over 2018-2024. The global business share is projected to surpass USD 190 billion by 2024.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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