Pune, India , Nov. 21, 2023 (GLOBE NEWSWIRE) -- The global material handling equipment market size was valued at USD 216.6 billion in 2022. The market is projected to grow from USD 227.4 billion in 2023 to USD 342.0 billion by 2030, exhibiting a CAGR of 6.0% during the forecast period. The global MHE market is characterized by intense competition and rapid changes, fueled by advancements in technology and the incorporation of Industry 4.0 principles in warehouse management and logistics infrastructure. Fortune Business Insights presents this information in their report titled "Global Material Handling Equipment Market, 2023–2030."
KEY INDUSTRY DEVELOPMENTS:
January 2023 – Kion group, an intralogistic giant offering MHE by Demantic and Linde, has invested around USD 11.80 million to develop its own fuel system for industrial trucks.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 6.0% |
| 2030 Value Projection | USD 342.0 billion |
| Base Year | 2022 |
| Material Handling Equipment Market Share in 2022 | USD 216.6 billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 120 |
| Segments covered | By Equipment Type, By Industry, and By Region |
| Material Handling Equipment Market Growth Drivers | Adoption of Autonomous Mobile Robots (AMRs) and Integration of Data Analytics to Propel the Market Growth |
| Increasing E-Commerce and Implementation of AGVs to Bolster the Market Growth |
Report Coverage:
The material handling equipment research report provides an in-depth analysis of types, applications, and industries, along with insights into leading companies, their business overview, and key product applications. It covers the competitive landscape, SWOT analysis, current market trends, and crucial drivers and restraints. Additionally, the report highlights factors contributing to recent market growth.
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Drivers and Restraints:
Automation Solutions Drive Efficiency and Profitability in Manufacturing
The shortage of skilled labor in manufacturing facilities has prompted major manufacturers to adopt automated handling equipment on their shop floors. This strategic move not only drives profitability but also helps minimize operational costs. For example, in June 2022, ek Robotics formed a solution partnership with the renowned automotive manufacturer BMW Group. As a result, AGVs were implemented in BMW's manufacturing and warehouse operations, enhancing efficiency and productivity
However, high initial investment and complex integration of MHE may hinder material handling equipment market growth.
Market Segmentation:
Rapid Growth Expected in Transport Equipment Sector Driven by Increasing Demand for Efficient Material handling
By equipment type, the market is divided into transport equipment, handling equipment, racking and storage equipment, and others (unit load formation equipment, control equipment, identification, etc.). The transport equipment sector is expected to witness a significant CAGR in the coming years. The increasing demand for transportation services, particularly in the logistics and supply chain industry, drives the need for heavy equipment used in material handling and transfer operations
Boost in Global Construction Activities Drives the Growth for Construction Industr
Based on the industry, the market is distributed by industry into automotive, pharmaceutical, consumer goods & electronics, food & beverages, construction, semiconductors, mining, and others
The global construction industry is experiencing highest CAGR, leading to increased demand for material handling equipment. This surge is fueled by various factors such as government policies, initiatives, and investments in infrastructure development, including logistic parks, ports, airports, and manufacturing facilities
From the regional ground, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Regional Analysis:
Asia Pacific Driven by Growing Consumer Base and Strategic Product Offerings
Asia Pacific material handling equipment industry is expected to experience remarkable growth, with a projected CAGR of 7.2%. This growth can be attributed to the strong economic advancements in countries such as India, China, and some ASEAN nations.
The North America market is expected to exhibit positive growth throughout the forecast period due to the significant presence of leading companies in the region.
Competitive Landscape:
Advancing Market Penetration through Specialized Machines and Material Handling Technologies
Key players in the industry are continuously offering a wide range of specialized machines, including cranes, industrial trucks, and other material handling technologies, to cater to the diverse needs of their end-users. This strategic approach helps them establish a strong foothold in the market and increase material handling equipment market share.
List of the Companies Operating in the Market:
- Daifuku Co., Ltd. (Japan)
- Liebherr Group (Switzerland)
- Schaefer System International Ltd. (Germany)
- Toyota Industries Corporation (Japan)
- Beumer Group (Germany)
- Jungheinrich AG (Germany)
- Godrej Group (India)
- Kion Group AG (Germany)
- Action Construction Equipment Ltd. (India)
- Hyster-Yale Materials Handling, Inc. (U.S.)
- Swisslog Holding AG (Germany)
- Crown Equipment Corporation (U.S.)
- Hyster-Yale Materials Handling, Inc. (U.S.)
- Mitsubishi Logisnext Co., Ltd. (Japan)
- KUKA AG (Germany)
Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Material Handling Equipment Key Players Market Share/Ranking, 2022
- Global Material Handling Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Equipment Type (USD)
- Transport Equipment
- Conveyors
- Roller
- Chain
- Wheel
- Others (Vertical, Screw Conveyor, Inclined Belt)
- Cranes
- Jib Cranes
- Bridge Cranes
- Gantry Cranes
- Others (Hammerhead, Telescopic, Crawler)
- Industrial Trucks
- Hand Trucks
- Pallet Trucks
- Lift Truck
- Others (Pallet Jacks, Side Loaders, Walking Stackers)
- Automated Guided Vehicles AGVs
- Others (Hoppers and Reclaimers)
- Conveyors
- Handling Equipment
- Dock Leveler
- Hoist
- Others (Rotary Index Table, Lift/Tilt/Turn Table, Parts Feeder, Balancer)
- Racking & Storage Equipment
- Automatic Storage/Retrieval System
- Selective Pallet Rack
- Others (Sliding Racks, Stacking Frames, Push-back Racks)
- Others (Unit Load Formation Equipment, Identification, and Control Equipment)
- Transport Equipment
- By Industry (USD)
- Consumer Goods & Electronics
- Automotive
- Food & Beverages
- Pharmaceutical
- Construction
- Mining
- Semiconductors
- Others (Aviation, Chemicals)
- By Region (USD)
- North America
- Europe
- Middle East & Africa
- Asia Pacific
- Latin America
- North America Material Handling Equipment Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Equipment Type (USD)
- Transport Equipment
- Conveyors
- Roller
- Chain
- Wheel
- Others (Vertical, Screw Conveyor, Inclined Belt)
- Cranes
- Jib Cranes
- Bridge Cranes
- Gantry Cranes
- Others (Hammerhead, Telescopic, Crawler)
- Industrial Trucks
- Hand Trucks
- Pallet Trucks
- Lift Truck
- Others (Pallet Jacks, Side Loaders, Walking Stackers)
- Automated Guided Vehicles AGVs
- Others (Hoppers and Reclaimers)
- Conveyors
- Handling Equipment
- Dock Leveler
- Hoist
- Others (Rotary Index Table, Lift/Tilt/Turn Table, Parts Feeder, Balancer)
- Racking & Storage Equipment
- Automatic Storage/Retrieval System
- Selective Pallet Rack
- Others (Sliding Racks, Stacking Frames, Push-back Racks)
- Others (Unit Load Formation Equipment, Identification, and Control Equipment)
- Transport Equipment
TOC Continued…
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