Press release
Material Handling Equipment Market Analysis, Size, Share, Growth and Trends by Forecast to 2023
Market HighlightsThe major growth driver of the material handling equipment market is the increasing automation of the production process across all end-user industries such as automotive, and food & beverage. The market is further expected to be driven by the increased adoption of IoT (Internet of Things) among manufacturers. The increased use of the material handling equipment by the end-users such as e-commerce, automotive and other industries, is further expected to drive the market over the forecast period. However, the growth of this market can be restrained by the high cost of acquisition of the material handling equipment.
The growth of the material handling equipment market is driven by the increasing importance of the equipment across end-user industries such as aerospace, agriculture and automotive. The material handling equipment helps increase productivity by the improvement of logistics in manufacturing plants, thus aiding the growth of the market. The growth can also be attributed to factors such as the need for transparency across the supply chain, the demand for flexibility in warehousing operations and the growth in automation of the manufacturing processes. However, this growth is expected to be hindered by the high cost of installation and acquisition for the material handling equipment. The Material Handling Equipment Market is expected to grow at CAGR of ~7.5% during the period 2017 to 2023.
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Key Players:
The key players of Material Handling Equipment Market are Liebherr Group (Switzerland), KION Group AG (Germany), Jungheinrich AG (Germany), Viastore Systems GmbH (Germany), Eisenmann AG (Germany), Columbus McKinnon Corporation (U.S.), Crown Equipment Corporation (U.S.), Hytrol Conveyor Co., Inc. (U.S.), Xuzhou Heavy Machinery Co., Ltd. (China) and Toyota Industries Corporation (Japan).
Based on applications, the material handling equipment market can be segmented as E-commerce, automotive, food & beverages, metal & heavy machinery and others. Amongst these, the e-commerce segment is expected to witness the highest growth due to the increasing demand of material handling equipment to fulfill the requirements of the customers in terms of accurate, quick and timely delivery of goods and services. The material handling equipment help in the movement of more pallets, per shift and in the reduction of damage to finished goods by proper handling, thereby leading to the growth of the material handling equipment market.
Market Research Analysis
The Asia-Pacific region is expected to grow the fastest in the material handling equipment market, owing to the initiatives undertaken for promoting the establishment of manufacturing industries in the region such as Make in India. The region also has high scope for foreign direct investments, which in turn, is leading to the growth of the material handling equipment market in Asia-Pacific. The growth of the region can also be attributed to factors such as easy availability of low cost labor and the reduced transportation cost.
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Table Of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Material Handling Equipment Market, By Operation
4.1 Assembly
4.2 Transportation
4.3 Packaging
4.4 Distribution
4.5 Others
5 Global Material Handling Equipment Market, By System Type
Continue……
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