Material Handling Equipment Market: Global Industry Analysis and Forecast (2023-2029)

Material Handling Equipment Market size was valued at US$ 217.85 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 5.5% from 2023 to 2029, reaching nearly US$ 316.91 Bn.

Material Handling Equipment Market Overview:

Material Handling Equipment Market is expected to reach US$ 316.91 Bn. by 2029. Tools, trucks, warehouses, equipment, and accessories used in the transport, storage, control, computation, and counting of goods at any stage of production, distribution, usage, or disposal are referred to as material handling equipment. This report focuses on the different segments of the Material Handling Equipment market (Product, Operation, System Type, End Use, and Region). In-depth analysis of the leading industry participants and regions is provided in this report (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It provides a comprehensive analysis of the various sectors' tremendous modern-era growth. The key data analysis from 2018 to 2022 is highlighted through figures, images, and presentations. The market drivers, restraints, opportunities, and challenges for Material Handling Equipment are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the Material Handling Equipment market.Material Handling Equipment MarketTo know about the Research Methodology :- Request Free Sample Report COVID-19 Impact on the Material Handling Equipment Market: The market for material handling equipment was temporarily shut down due to the COVID-19's effects on manufacturing, operations, and logistics. A few organizations have totally stopped producing goods, which has affected retail sales. Other aspects of the production system, such as transportation, also exhibit social segregation. This ongoing suspension of business operations has a negative effect on market growth, particularly in the industrial sector. However, it is expected that the industries that employ these markets' products will get back on track, which will increase demand for material handling equipment during the forecast period. All economic activities including those associated with pharmacies, supermarkets, hospitals, and a few internet retailers have ceased as a result of COVID-19, with the exception of a few emergency services. Due to this, demand for material handling equipment globally has temporarily been suspended. A fully automatic solution is now required in the manufacturing sector due to the COVID-19 outbreak, and businesses plan to increase their investment in automation solutions during the forecast period. During the forecast period, Businesses plan to enhance their distribution and screening systems. However, a number of medium-sized enterprises have altered their plans to purchase or update new equipment as a result of the pandemic.

Material Handling Equipment Market Dynamics:

Market drivers: The global e-commerce market is growing quickly, and people are actively buying everyday goods there, which is driving the overall growth of the material handling equipment market. For instance, global online shopping expenditures in 2019 reached USD 3.46 trillion. The market for material handling equipment is expected to be driven largely by the growing popularity of online shopping. Manufacturers and industrial sectors are becoming more visible due to the customization of the machinery and systems that are integrated with the supply chain and warehousing ecosystems. Additionally, the rising cost of labour in industrialized nations is driving the demand for material handling equipment. Market restraints: The growth of the material handling equipment market is expected to be hampered by rising up-front expenses and overall ownership costs. The costs associated with purchasing, integrating, programming, and installing this material handling equipment are very substantial. Additionally, some of the factors limiting the growth of the material handling equipment market are the higher maintenance costs and the slower rate of return on investments. One of the main restraints on the growth of the material handling equipment market is the price of replacing the software and the cost of customizing the software to the needs of the organization. Market opportunities: A number of innovations and updates are being introduced into the material handling equipment market as a result of the established market participants' rising investment. Such factors are encouraging potential end users to use material handling equipment more frequently for the growth of their businesses. The growth of the material handling equipment market is being presented with attractive opportunities by a number of government initiatives. The Chinese government's One Belt One Route (OBOR) plan in particular has encouraged the growth of the material handling equipment market. Market challenges: The major factors restraining the growth of the material handling equipment market are the life cycle costs of the equipment, which include capital expenditures, setup, installation, programming, training, system testing, operation, maintenance, repair, and reuse. The main challenge to the growth of the market for material handling equipment is expected to be a lack of knowledge regarding the accessibility of operating equipment and the variety of tasks that can be carried out by these machines.

Material Handling Equipment Market Segment Analysis:

The Material Handling Equipment Market is segmented by Product, Operation, System Type, and End Use. Based on the Product, the market is segmented into Storage and Handling Equipment, Automated Storage and Retrieval System, Industrial Trucks, Bulk Material Handling Equipment, and Others. Industrial Trucks segment is expected to hold the largest market share of xx% by 2029. These trucks are a popular option because of their broad range of industrial applications. Industrial trucks are used to transport huge containers or crates in a number of end-use markets, which helps them get a larger market share. During the forecast period, the demand for battery-operated vehicles will increase as logistic organisations strive toward implementing sustainable products. Automated Storage and Retrieval System segment is expected to grow rapidly at a CAGR of 8.0% during the forecast period 2023-2029. The COVID-19 pandemic social isolation is enforced by warehouses, which is attributed for this growth. During that time, these systems were favoured because they encouraged productivity and complied with social estrangement standards. Investments in automated machinery is expected to rise during the forecast period, generating lucrative market prospects for material handling equipment. Based on the End Use, the market is segmented into Automotive, Food & Beverages, Chemical, Semiconductor & Electronics, E-commerce, Aviation, Pharmaceutical, and Others. E-commerce segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. In spite of the lockdown restrictions, there was a dramatic increase in demand for distribution and delivery of necessities like groceries, which supported market growth. The coronavirus effect won't be a short-term boost; rather, it will have a long-term effect on industry demand, opening up prospects for suppliers of material handling equipment. The ease of online shopping has encouraged retailers to build micro-fulfilment centres that facilitate quick product deliveries, contributing to the demand for material handling equipment. In addition to the pandemic, the retail industry has always demonstrated opportunities for enormous gains. Automotive segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. Due of the autonomy they provide while managing daily operations, AGVs, or automated guided vehicles, are a favoured option among car vendors.

Material Handling Equipment Market Regional Insights:

Europe region is expected to dominate the Material Handling Equipment Market during the forecast period 2023-2029. Europe region is expected to hold the largest market share of xx% by 2029. Material Handling Equipment Market growth is expected to be driven by the adoption of cutting-edge products to support a sizable industrial presence in the region. There are numerous businesses in Europe, from the production of food and beverages to technology that offer sales prospects. Beyond industrial markets, the same-day delivery model-driven e-commerce sector has also contributed to the regional demand in 2020, and this trend is expected to continue during the forecast period. Asia Pacific region is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. It is expected that countries like China and India will present a plethora of opportunities, assisting OEMs in growing their end-user markets. The quick adoption of e-commerce services during the pandemic, which favoured equipment purchases, is the key factor that is expected to drive the regional market growth. The North American region is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. Because of the e-commerce industry's contribution to the region's rising sales. The market for material handling equipment is growing globally due to the rising demand for both durable and non-durable items. Additionally, the adoption of automated warehousing procedures throughout North America is driving the growth for material handling equipment market. The objective of the report is to present a comprehensive analysis of the Global Material Handling Equipment Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Global Material Handling Equipment Market dynamic and structure by analyzing the market segments and projecting the Global Material Handling Equipment Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Material Handling Equipment Market make the report investor’s guide.

Material Handling Equipment Market Scope: Inquire before buying

Material Handling Equipment Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 217.85 Bn.
Forecast Period 2023 to 2029 CAGR: 5.5% Market Size in 2029: US $ 316.91 Bn.
Segments Covered: by Product Storage and Handling Equipment Automated Storage and Retrieval System Industrial Trucks Bulk Material Handling Equipment Others
by Operation Assembly Transportation Packaging Distribution Others
by System Type Unit Load Material Handling System Bulk Load Material Handling System
by End-User Automotive Food & Beverages Chemical Semiconductor & Electronics E-commerce Aviation Pharmaceutical Others

Material Handling Equipment Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Material Handling Equipment Market Key Players are:

1. Daifuku 2. Kion Group AG 3. SSI Schaefer 4. Toyota Industries 5. Honeywell International 6. Hyster-Yale Material Handling 7. Hanwha 8. John Bean Technologies 9. Beumer 10.Murata Machinery 11.TGW Logistics 12.Mobile Industrial Robots 13.Invia Robotics 14.Avancon 15.Locus Robotics 16.Addverb Technologies 17.Meiden America 18.Automation Logistic 19.Invata Intralogistics 20.Westfalia Technologies Frequently Asked Questions: 1] Which region is expected to hold the highest share in the Material Handling Equipment Market? Ans. Europe region is expected to hold the highest share in the Material Handling Equipment Market. 2] Who are the top key players in the Material Handling Equipment Market? Ans. Daifuku, Kion Group AG, SSI Schaefer, Toyota Industries, Honeywell International, Hyster-Yale Material Handling, and Hanwha are the top key players in the Material Handling Equipment Market. 3] Which segment is expected to hold the largest market share in the Material Handling Equipment Market by 2029? Ans. Industrial Trucks segment is expected to hold the largest market share in the Material Handling Equipment Market by 2029. 4] What is the market size of the Material Handling Equipment Market by 2029? Ans. The market size of the Material Handling Equipment Market is expected to reach US $ 316.91 Bn. by 2029. 5] What was the market size of the Material Handling Equipment Market in 2022? Ans. The market size of the Material Handling Equipment Market was worth US $ 217.85 Bn. in 2022.
1. Global Material Handling Equipment Market: Research Methodology 2. Global Material Handling Equipment Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to the Global Material Handling Equipment Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Material Handling Equipment Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Material Handling Equipment Market Segmentation 4.1 Global Material Handling Equipment Market, by Product (2022-2029) • Storage and Handling Equipment • Automated Storage and Retrieval System • Industrial Trucks • Bulk Material Handling Equipment • Others 4.2 Global Material Handling Equipment Market, by Operation (2022-2029) • Assembly • Transportation • Packaging • Distribution • Others 4.3 Global Material Handling Equipment Market, by System Type (2022-2029) • Unit Load Material Handling System • Bulk Load Material Handling System 4.4 Global Material Handling Equipment Market, by End use (2022-2029) • Automotive • Food & Beverages • Chemical • Semiconductor & Electronics • E-commerce • Aviation • Pharmaceutical • Others 5. North America Material Handling Equipment Market (2022-2029) 5.1 North America Material Handling Equipment Market, by Product (2022-2029) • Storage and Handling Equipment • Automated Storage and Retrieval System • Industrial Trucks • Bulk Material Handling Equipment • Others 5.2 North America Material Handling Equipment Market, by Operation (2022-2029) • Assembly • Transportation • Packaging • Distribution • Others 5.3 North America Material Handling Equipment Market, by System Type (2022-2029) • Unit Load Material Handling System • Bulk Load Material Handling System 5.4 North America Material Handling Equipment Market, by End use (2022-2029) • Automotive • Food & Beverages • Chemical • Semiconductor & Electronics • E-commerce • Aviation • Pharmaceutical • Others 5.5 North America Material Handling Equipment Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Material Handling Equipment Market (2022-2029) 6.1. Europe Material Handling Equipment Market, by Product (2022-2029) 6.2. Europe Material Handling Equipment Market, by Operation (2022-2029) 6.3. Europe Material Handling Equipment Market, by System Type (2022-2029) 6.4. Europe Material Handling Equipment Market, by End use (2022-2029) 6.5. Europe Material Handling Equipment Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Material Handling Equipment Market (2022-2029) 7.1. Asia Pacific Material Handling Equipment Market, by Product (2022-2029) 7.2. Asia Pacific Material Handling Equipment Market, by Operation (2022-2029) 7.3. Asia Pacific Material Handling Equipment Market, by System Type (2022-2029) 7.4. Asia Pacific Material Handling Equipment Market, by End use (2022-2029) 7.5. Asia Pacific Material Handling Equipment Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. South America Material Handling Equipment Market (2022-2029) 8.1. South America Material Handling Equipment Market, by Product (2022-2029) 8.2. South America Material Handling Equipment Market, by Operation (2022-2029) 8.3. South America Material Handling Equipment Market, by System Type (2022-2029) 8.4. South America Material Handling Equipment Market, by End use (2022-2029) 8.5. South America Material Handling Equipment Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 9. Middle East and Africa Material Handling Equipment Market (2022-2029) 9.1 Middle East and Africa Material Handling Equipment Market, by Product (2022-2029) 9.2. Middle East and Africa Material Handling Equipment Market, by Operation (2022-2029) 9.3. Middle East and Africa Material Handling Equipment Market, by System Type (2022-2029) 9.4. Middle East and Africa Material Handling Equipment Market, by End use (2022-2029) 9.5. Middle East and Africa Material Handling Equipment Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 10. Company Profile: Key players 10.1 Daifuku 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Kion Group AG 10.3 SSI Schaefer 10.4 Toyota Industries 10.5 Honeywell International 10.6 Hyster-Yale Material Handling 10.7 Hanwha 10.8 John Bean Technologies 10.9 Beumer 10.10 Murata Machinery 10.11 TGW Logistics 10.12 Mobile Industrial Robots 10.13 Invia Robotics 10.14 Avancon 10.15 Locus Robotics 10.16 Addverb Technologies 10.17 Meiden America 10.18 Automation Logistic 10.19 Invata Intralogistics 10.20 Westfalia Technologies
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