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)
- Historical Market Size (2020): USD 30.5 billion
- Forecast CAGR (2021-2026): 2%
- Forecast Market Size (2026): USD 46.4 billion
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:
- Automotive
- Metal and Heavy Machinery
- Food and Beverages
- Chemicals
- Semiconductors and Electronics
- Healthcare
- Aviation
- E-Commerce
- Others
By functions, the market is divided into:
- Assembly
- Packaging
- Transportation
- Distribution
- Storage
- Waste handling
By region, the industry is categorized into:
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
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.
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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