Material Handling Equipment Market Revenue Forecast By Top Players Liebherr Group, Vanderlande, KUKA, Kion Group, Bastian Solutions, LLC, Siemens, JBT Corporation
Material Handling Equipment Market is expected to exceed USD 200 billion by 2025. Improving industrial sector and enhancing productivity in developing economies will drive market growth over the forecast timespan.
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The growing demand for automation from SMEs will propel the material handling equipment market growth. SMEs operating in the food & beverages, 3PL, food retail, and general merchandise industries are experiencing intense competition and need to sustain growth in the marketplace. The presence of government initiatives, such as financial support, in the form of reduced duties and tax benefits allowed SMEs to gain a foothold in the market. Automated machines and systems provide efficient work operations and monetary benefits to SMEs by saving huge amounts of labor employment costs. These companies are highly deploying material handling machines and automatic systems over human labor owing to cost savings and high efficiency compared to the traditional processes.
Top Players -
o Bastian Solutions, LLC,
o Columbus McKinnon,
o JBT Corporation,
o Jungheinrich AG,
o Kion Group AG,
o Vanderlande Industries,
o Honeywell Intelligrated, Inc.,
o Toyota Industries Corporation & more
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The Latin America material handling equipment market is expected to witness high growth in the coming years owing to the rise in industrialization and the growing manufacturing sector in the region. Manufacturing industries are increasingly adopting advanced material handling solutions for enhancing and ensuring productivity, resulting in the overall economic development of the region. The industrial sector in the region is witnessing fast growth with an increasing number of companies implementing robots and automated solutions for material handling. The expanding construction sector of the region will lead to an increased demand for performance material handling solutions.
Demand for bulk material handling equipment is witnessing high demand in the material handling equipment market owing to the growing need to transport and control large volumes of material. The equipment handles & supports infrastructure and provides a vital bridge that ensures rapid & efficient delivery. The demand for AS/RS material handling equipment is increasing in manufacturing plants, warehouses, and distribution centers for order picking.
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Key players operating in the industry are Daifuku Co., Ltd., Columbus McKinnon, Kion Group AG, Dematic GmbH & Co., Hyster-Yale Materials Handling, Inc., JBT Corporation, Intelligrated, Inc., Flexlink, and KUKA AG. Players are focusing on introducing differentiated and advanced products to remain competitive in the market.
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