Material Handling Market Expansion Continues, with Forecast Valuation of $66.78 Billion by 2029

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Material Handling Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, there has been significant growth in the size of the material handling market. It is projected to expand from $43.97 billion in 2024 to $47.51 billion in 2025, signaling an impressive compound annual growth rate (CAGR) of 8.0%. Factors such as industrialization, growth in manufacturing, expansion of e-commerce, the development of global supply chain networks, adherence to safety and ergonomics standards, as well as efforts directed towards efficiency and cost reduction have contributed to the growth experienced in the historical period.

Material Handling Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the material handling market is projected to witness substantial growth, escalating to $66.78 billion in 2029 with a compound annual growth rate (CAGR) of 8.9%. This growth during the forecast period stems from factors such as the upward trajectory of e-commerce, integration of automation and robotics, commitment to sustainability and green policies, the rise of intelligent warehousing, and adaptability to shifting market dynamics. Noteworthy trends predicted for this period include the use of augmented reality (AR) for training and maintenance purposes, predictive maintenance powered by machine learning, customization and scalability, collaboration between humans and robots (HRC), and the adoption of blockchain for enhanced supply chain transparency.

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What Are the Drivers Transforming the Material Handling Market?
The anticipated growth of the material handling market is tied directly to the expected surge in the e-commerce industry. This is largely due to the increased use of smartphones and internet availability, two elements that significantly enhance the convenience and product selection available to consumers. Improvements in the logistics within the e-commerce sector, including the movement, storage, and retrieval of goods in warehouses, are catered by material handling processes which in turn, boost the efficiency of order fulfillment and decrease delivery times for customers. As highlighted by the Census Bureau, a US government agency, e-commerce sales rose by 8.5% in the first quarter of 2024 compared to the same quarter in 2023, representing 15.6% of the total retail sales-an increase of approximately 2.8% from the previous year. For these reasons, the growing e-commerce industry is seen as a primary influencer for the expanding material handling market.

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Which Fast-Growing Trends Are Poised to Disrupt the Material Handling Market?
The advent of lithium-ion technology is a key development in the material handling industry. With their eco-friendly nature and capacity for higher energy density compared to either lead-acid or nickel-metal hydride batteries, Li-ion batteries are gaining popularity. These batteries provide a greater storage capacity for electricity and are commonly favored for use in electric material handling vehicles. Adding to their advantages, lithium-ion batteries are also light in weight, rapidly rechargeable, and do not require any cooling periods. Serving as an example, Hyundai Material Handling, a U.S. industrial forklift manufacturing company, introduced the B-X Electric Pneumatic Lithium Series in July 2023. Alongside the provision of a standard lead-acid battery, the B-X Series also offers a battery-operated truck bundle that comprises a truck, a lithium battery, and a charger. The unique selling point of the B-X Series is its energy-saving design that is available in varying capacities ranging from 5,000 to 7,000 lbs. Moreover, the B-X Series can utilize lithium-ion battery technology, hence providing longer operating times, faster charging, and zero-emission capabilities.

Which Segments in the Material Handling Market Offer the Most Profit Potential?
The material handlingmarket covered in this report is segmented -

1) By Type: Automated Guided Vehicles, Automated Storage And Retrieval Systems, Trucks And Lifts, Cranes, Pallet Racking, Conveying Systems, Hoists, Other Types
2) By Operations: Assembly, Distribution, Transportation, Other Operations
3) By End User: Food & Beverages, Automotive, Construction, Consumer Goods & Electronic, Pharmaceuticals, E-Commerce, Other End Users

Subsegments:
1) By Automated Guided Vehicles (AGVs): Tow Vehicles, Unit Load Carriers, Forklift AGVs
2) By Automated Storage and Retrieval Systems (AS/RS): Unit Load AS/RS, Mini Load AS/RS, Micro Load AS/RS
3) By Trucks and Lifts: Forklifts, Pallet Jacks, Order Pickers
4) By Cranes: Overhead Cranes, Gantry Cranes, Jib Cranes
5) By Pallet Racking: Selective Pallet Racking, Drive-In/Drive-Through Racking, Push Back Racking
6) By Conveying Systems: Belt Conveyors, Roller Conveyors, Chain Conveyors
7) By Hoists: Electric Hoists, Manual Hoists, Pneumatic Hoists
8) By Other Types: Packaging Equipment, Scissor Lifts, Dock Equipment

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Which Firms Dominate the Material Handling Market by Market Share and Revenue in 2025?
Major companies operating in the material handling market include Mitsubishi Logisnext Co.Ltd., Komatsu Ltd., Toyota Industries Corporation, Liebherr Group, Doosan Corporation, Kion Group AG, Jungheinrich AG, Crown Equipment Corporation, Daifuku Co. Ltd., Cascade Corporation, Hyster-Yale-Materials Handling, Dematic Group, Manitou Group, Hangcha Group Co. Ltd., SSI Schaefer Systems International, Hoist Liftruck Mfg. Inc., Anhui Heli Co. Ltd., Clark Material Handling Company, Columbus McKinnon Corporation, Raymond Corporation, Bastian Solutions LLC, Eisenmann AG, Godrej & Boyce Manufacturing Co. Ltd., Hytrol Conveyor Co., Combilift Ltd., Viastore Systems, Schaefer Systems International Pvt. Ltd., EMH Inc., Carolina Material Handling Services Inc., Beumer Group, KUKA AG, AGV International, TGW Logistics Group, Interroll Group

Which Regions Offer the Highest Growth Potential in the Material Handling Market?
Asia-Pacific was the largest region in the material handling market in 2024. Western Europe was the second-largest region in the global material handling market share. The regions covered in the material handling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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