The global material handling equipment market is set to grow due to rising e-commerce and automation, with a forecast size of USD 46.4 billion by 2026.
The new report by Expert Market Research titled, ‘The Global Material Handling Equipment Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global material handling equipment market, assessing the market based on its segments like applications, manufacturing process and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
The increased demand for automation and modernization in manufacturing techniques to make the manufacturing process simpler and cost-effective is driving the global material handling equipment market. Material handling is an essential component in the manufacturing process. It does not directly contribute to the manufacturing of items, but it improves the efficiency of product handling, management, storage, and transportation. This equipment helps to ensure that products are circulated swiftly, smoothly, and efficiently during the production process. In order to fulfil the needs of the ever-growing population, a boost in industrial and infrastructural operations is projected to augment the material handling equipment market’s expansion, thereby aiding the global material handling equipment industry’s growth. The global material handling industry is expanding at a tremendous speed, thanks to rising e-commerce and container traffic at airports and seaports around the world. The growing e-commerce market in countries such as China and India is expected to drive market growth.
Industry Definition and Major Segments
Material handling equipment is a type of mechanical equipment that is used in warehouses to handle the movement, storage, transportation, control, and protection of objects and supplies throughout the production process. The technology provides a more economical and efficient method of transporting goods between industrial units.
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By industry, the market is divided into:
By functions, the market is divided into:
By region, the industry is categorized into:
Market Trends
The development of the aviation and e-commerce sectors, as well as the desire for supply chain transparency and flexibility in warehouse activities, and the increased demand for enhanced storage and transportation of goods in warehouses, are all contributing to the industry’s growth. It ensures higher productivity by optimizing logistics in warehouses and industrial plants. These solutions provide a cost-effective, process-efficient, and precise method for transferring items quickly between production plants and warehouses, resulting in increased demand and assisting industry growth. The increased use of material handling equipment in emerging economies such as India is predicted to boost worldwide industry growth. Manufacturing and other sectors are constantly receiving massive amounts of foreign capital, resulting in increased manufacturing operations. Governments all across the world are expanding their infrastructure by building and upgrading new airports, train networks, seaports, and power plants. It provides increased productivity by improving warehouse and manufacturing plant logistics.
During the forecast period, the material handling equipment market in Asia Pacific is expected to grow significantly. China and India are expected to provide a plethora of options, allowing OEMs to reach a wider range of end users. The fast use of e-commerce services during the pandemic fueled regional growth, boosting equipment purchases. During the historical period, Europe and North America dominated the market for material handling equipment, accounting for the biggest market share. Market expansion will be aided by the adoption of innovative products to support a large-scale industrial presence in the region. There are numerous industries in Europe that would provide prospective customers, ranging from food and beverages to electronics production. Aside from industrial sectors, the e-commerce sector, which is fuelled by same-day delivery models, has also boosted regional demand, a trend that is projected to continue in the coming years.
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Key Market Players
The major players in the market are Daifuku Co., Ltd., Jungheinrich AG, BEUMER Group, Kion Group AG, Toyota Industries Corporation, Hyster-Yale Materials Handling, Inc., JBT Corporation, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
The article discusses the growth of the global material handling equipment market driven by e-commerce and automation.
Increased demand for automation, modernization in manufacturing, and e-commerce expansion are key drivers.
The forecast market size is USD 46.4 billion by 2026.
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