Industry Outlook

Industrial manufacturing and processing across several products witnessing a more sophisticated and organized approach by incorporating material handling equipment. The equipment is used to sort, transport, orient and handle material used during a production or storage process quickly and effectively. Owing to these properties almost every industry is approaching to make material handling equipment as a part of their production line. Growing industrial manufacturing and logistics sector creating tremendous demand for such equipment. Consequently, material handling equipment market posted a market value of US$ 138.54 Bn in 2017. The number anticipated to beef up to US$ 224.08 Bn in 2026 with a growth of 5.5% throughout the forecast period from 2018 to 2026.

"Industrial Trucks & Forklifts to Drive Away the Top Spot"

Industrial truck and forklifts are the indivisible part of any major manufacturing plant as they carry heavy load on the shop floor much faster than human material handlers. This equipment also plays a vital role in inventory control and warehouse management. Being a major part of material handling, industrial trucks and forklift acquire the majority of market share in overall material handling equipment market. The truck & forklift is closely followed by conveyors in terms of market value. Conveyors are the most common material handling system available and an essential component for unattended material transit within the manufacturing unit. Other equipment including cranes & hoist, pallets, racks, and shelves also claim a fair share in the overall market. Automated material handling equipment is the fastest growing equipment and projected to grow leaps and bounds in coming years. Major manufacturers and robotic companies are focusing on improving automated material handling devices and the sub-segment expected to takeover tradition equipment during and beyond forecast period from 2018 to 2026.

"Automotive and Manufacturing & Processing Faces each other for the Pinnacle Position"

With respect to end-use industries, manufacturing & processing and automotive industry face-off each in close quarters for the majority of market share and market value. The exponential growth of automotive industry and introduction of advanced assembly lines created a positive impact on the demand for the material handling equipment. Manufacturing & processing sector also running on full scale and the scale is on a way to perpetual rise along with the need for more sophisticated material handling equipment. Besides, transportation & logistics are the fastest growing segment in material handling equipment market. Growing global trade and consistent rise in e-commerce depends heavily on material handling equipment and have a high contingency of achieving significant market value in coming years.

"Asia Pacific to Reign Supreme over North America and Europe in terms of Market Value"

Presence of developing countries and high concentration of automotive and manufacturing process units crowned Asia Pacific as the leading region in material handling equipment market. Countries such as China, India, South Korea, and Taiwan among other witnessing a tremendous growth in their manufacturing capacities and are procuring more material handling methods for enhancing their capabilities. North America trails Asia Pacific in terms of market value. The region one of the earliest to adopt automated material handling equipment and industrial automation is growing at a brisk pace in this region. Europe does not lag far behind of North America in terms of market value.

"Good Opportunities Brought tug-of-war Between Local and International Players in Material Handling Equipment Market"

Growing market prospect created an impulse between local and international material handling equipment manufacturers. Presence of several players made the market fragmented and intense competition ignited between them to maintain the market position. Companies are introducing their state-of-the-art equipment such as ASRS and AGV to bring technological innovation to the market. Besides, carrying out strategies acquisition and creating long-term partnership is a common strategy observed in recent time. Companies are striving day-in and day-out to retain their customers’ faith and expand their geographical presence. The research study include business strategies and recent development of few of the most prominent players in material handling equipment market includes Liebherr Group, Daifuku Co., Ltd., , Kion Group AG,  Flexlink, Hyster-Yale Materials Handling, Inc.,Viastore Systems GmbH, Crown Equipment Corporation, Toyota Industries Corporation,  Hytrol Conveyor Co., Inc., JBT Corporation, Intelligrated, Inc., Dematic GmbH & Co., KG., Columbus McKinnon, and  KUKA AG among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2023 to 2033 considering 2024 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2025 to 2033.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Material Handling Equipment market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Material Handling Equipment market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Material Handling Equipment market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2033.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Material Handling Equipment market?
• Which is the largest regional market for Material Handling Equipment market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Material Handling Equipment market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Material Handling Equipment market worldwide?