Dublin, July 06, 2023 (GLOBE NEWSWIRE) -- The "Material Handling Equipment Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global material handling equipment market is projected to experience significant growth in the coming years, with a forecasted increase from $180.60 billion in 2022 to $194.27 billion in 2023, reflecting a compound annual growth rate (CAGR) of 7.5%.
Furthermore, the market is expected to reach $248.83 billion by 2027, growing at a CAGR of 6.3%. The market report provides strategists, marketers, and senior management with critical information to assess the market and make informed decisions.
Key players in the material handling equipment market include:
- The Beumer Group
- Daifuku Co Ltd.
- Kion Group AG
- Toyota Industries Corporation
- Honeywell International Inc.
- Schaefer System International Ltd.
- Jungheinrich AG
- Crown Equipment Corporation
- Hyster-Yale Materials Handling Inc.
- Mitsubishi Caterpillar Forklift America Inc.
- Mecalux S.A.
- Murata Manufacturing Co Ltd.
- Liebherr Group
- Swisslog Holding AG
- Action Construction Equipment Ltd.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available, covering 50+ geographies.
- Understand the impact of COVID-19 on the market and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war's impact on agriculture, energy, and mineral commodity supply, and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies based on local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and understand the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Support internal and external presentations with reliable high-quality data and analysis.
Material handling equipment refers to mechanical equipment used for various purposes in industrial settings, such as transportation, storage, and control of commodities and materials. The main types of material handling equipment include cranes and lifting equipment, industrial trucks, continuous handling equipment, and racking and storage equipment. These equipment are used in various industries, including automotive, food and beverages, chemical, semiconductor and electronics, e-commerce, aviation, pharmaceutical, and others.
Key trends in the material handling equipment market include:
- Technological innovations: Major players are focusing on developing innovative equipment technologies, such as electric material handling equipment, to strengthen their market position.
- Acquisitions and expansions: Companies are expanding their market coverage through acquisitions and partnerships to enhance their product offerings and geographic reach.
Asia-Pacific emerged as the largest region in the material handling equipment market in 2022. The market report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Furthermore, it includes countries such as Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the USA.
The rising e-commerce industry is expected to drive the material handling equipment market. With the growing preference for online shopping, e-commerce sales have witnessed significant growth. The automatic material handling equipment provides convenience to businesses in packaging, bulk material handling, and supply chain management. For instance, in the US, e-commerce sales reached $870 billion in 2021, accounting for 13.2% of retail sales.
The material handling equipment market includes sales of casters and wheels, controllers, conveyors, and dock equipment. The market value represents the revenues generated by organizations within the market through sales, grants, or donations. It does not include revenues from resales along the supply chain.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $194.27 billion |
| Forecasted Market Value (USD) by 2027 | $248.83 billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ywhtss
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