Press release
Material Handling Equipment Market Report 2024-2033: Size, Share, Growth, Trends, Analysis, Demand, Forecast, Key Players
Material Handling Equipment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $270.53 billion In 2028 At A CAGR Of 6.9% :
The material handling equipment market size has grown strongly in recent years. It will grow from $193.08 billion in 2023 to $206.84 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to e-commerce growth, manufacturing sector expansion, global supply chain optimization, warehouse automation, increased port and terminal activities..
The material handling equipment market size is expected to see strong growth in the next few years. It will grow to $270.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to evolving e-commerce logistics, green and sustainable practices, global manufacturing shifts, rise in last-mile delivery demands, smart logistics integration.. Major trends in the forecast period include focus on ergonomic design for operator comfort and safety, customization and modular solutions in material handling systems, implementation of artificial intelligence for smart decision-making, expansion of autonomous material handling equipment, emphasis on safety technologies including collision avoidance..
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Material Handling Equipment Market Major Segments
The material handling equipment market market covered in this report is segmented -
1) By Type: Manufacturer, Distributor
2) By Product: Cranes and Lifting Equipment, Industrial Trucks, Continuous Handling Equipment, Racking and Storage Equipment
3) By End Users: Automotive, Food And Beverages, Chemical, Semiconductor And Electronics, E-commerce, Aviation, Pharmaceutical, Other End Users
Key Driver - Surging E-Commerce Industry Driving Growth In Material Handling Equipment Market
The rising e-commerce industries are expected to propel the material handling equipment market going forward. E-commerce is a business approach that allows people to buy and sell goods and services through the Internet. The e-commerce sector is rising due to changes in consumer preference, increased convenience, and personalized experience. The automatic material handling equipment provides convenience to businesses in packaging, bulk material handling, and managing the supply chain ecosystem in their industrial spaces. For instance, according to Forbes, an American business magazine, in the US, e-commerce sales reached $870 billion in 2021, up 50.5% from the previous year and 14.2% from 2020. Moreover, e-commerce accounted for 13.2% of retail sales in the US in 2021. Thus, such a rise in e-commerce will drive the growth of the material-handling equipment market.
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Prominent Trend - Technological Innovations Reshaping The Material Handling Equipment Market
Technological innovation is a key trend gaining popularity in the material handling equipment market. Major players are concentrating on creating innovative equipment technologies products, such as electric material handling equipment to strengthen their position. For instance, in May 2022, Linde Material Handling, a Germany-based manufacturer of forklift trucks and warehouse equipment company, introduced electric heavy-duty forklift trucks with load capacities ranging from 10 to 18 tones. This innovative, compact, heavy-duty truck series is built on the eight-ton range and includes a double drive, double lifting hydraulics, two batteries, and scaled pumps.
Material Handling Equipment Market Players
Major companies operating in the material handling equipment market market report are Beumer Group GmbH & Co. KG, Daifuku Co. Ltd., KION Group AG, Toyota Industries Corporation, Honeywell International Inc., SSI Schäfer Group GmbH, Jungheinrich AG, Crown Equipment Corporation, Hyster-Yale Materials Handling Inc., Mitsubishi Caterpillar Forklift America Inc., Mecalux S.A., Murata Manufacturing Co. Ltd., Liebherr Group, Swisslog Holding AG, Action Construction Equipment Ltd., TGW Logistics Group GmbH, Viastore Systems GmbH, WITRON Logistik + Informatik GmbH, BHS Corrugated Maschinen- und Anlagenbau GmbH, Cimcorp Automation Ltd., Columbus McKinnon Corporation, Eisenmann SE, Elettrric80 S.p.A., Hanel GmbH & Co. KG, Hapman LLC, Hytrol Conveyor Company Inc., ICM Airport Technics GmbH, Intelligented Co. Ltd., Jervis B. Webb Company, KITO Corporation, KNAPP AG
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the material handling equipment market share in 2023. The regions covered in the material handling equipment market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Material Handling Equipment Market Report Structure
3. Material Handling Equipment Market Trends And Strategies
4. Material Handling Equipment Market - Macro Economic Scenario
5. Material Handling Equipment Market Size And Growth
…..
27. Material Handling Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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