Material Handling Equipment Market Top Key Players - Bastian Solutions, LLC, Beumer Group GmbH & Co., Columbus McKinnon, Crown Equipment Corporation, Daifuku Co.Ltd, Dematic GmbH & Co., Flexlink
Due to the growing population, the need for consumer goods is also increasing and hence to improve efficiency in operations many companies are purchasing more material handling equipment.
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MATERIAL HANDLING EQUIPMENT DRIVERS
The following factors are expected to drive the growth in this market:
1. Many companies these days are in the process of automating and modernizing their production process for which material handling equipment is necessary. Adoption of new technology such as the Internet of Things in different sectors is also an impact factor for growth.
2. Importance is being given to employee safety and cost effectiveness and this can be achieved through mechanization of the process. Increasing labour costs is also another reason why material handling equipment is gaining prominence.
3. The transportation and e-commerce industry use material handling equipment. Though the transportation sector and aviation sector has been negatively impacted during the Covid period, the e-commerce sector has been substantial growth. This will further help the global material handling market to grow.
4. There is also demand for more flexible and transparent supply chain and warehouse operations.
MATERIAL HANDLING EQUIPMENT CHALLENGES
1. The cost of purchasing material handling equipment is very high. Along with that, operational and maintenance costs associated with this equipment may act as a hindrance to growth for this market. The small and medium scale enterprises thus, find it difficult to integrate such technology in their operations.
2. There is a lack of awareness in certain parts of the world regarding the cost effectiveness and high level of productivity that can be achieved using this equipment.
3. There are many technical challenges that an organization may face while using material handling equipment. Specialized knowledge might be required to solve those issues and expertise may not be available at all times. Cyber security threats also remain a major concern for the organizations.
MATERIAL HANDLING EQUIPMENT MARKET SEGMENTATION
By Equipment Type
1. Cranes and Lifting equipment
2. Industrial Trucks
3. Continuous handling equipment
4. Racking and Storage Equipment
5. Automated Storage Retrieval System
By System Type
By system type, the following categorization is done:
1. Unit Load Material Handling system
2. Bulk load material handling system
The main industries where material handling equipment is used are:
1. Consumer Goods
4. Food and Beverage
The different regions identified for analyzing the market are:
1. North America
3. Asia Pacific
4. Middle East and Africa
5. Latin America
There are many small and large players across the globe for material handling equipment. Some of the key companies in this market are:
Bastian Solutions, LLC
Beumer Group GmbH & Co.
Crown Equipment Corporation
Dematic GmbH & Co.
Hyster-Yale Materials Handling
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