Pune, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Material Handling Equipment Industry Analysis:
“According to SNS Insider Research, The Material Handling Equipment Market size was valued at US$ 216.77 Billion in 2023 and is projected to reach US$ 353.67 Billion by 2032, growing at a CAGR of 5.59% over the forecast period 2024-2032.”
The Surge in Automated Mobile Robots and Advanced Material Handling Equipment Amidst Economic Growth and Industry 4.0 Technologies.
The rapid integration of robots in material handling operations has reshaped production processes across industries. Automated mobile robots are increasingly being deployed in manufacturing facilities to enhance productivity. The surge in demand for automation in supply chain operations is driving the adoption of advanced material handling equipment, leading to higher profitability for logistics and delivery service providers. This trend is expected to grow as industries shift towards fully automated production systems.
With the U.S. economy witnessing positive trends in private investment in industrial equipment and machinery, material handling equipment demand may increase, boosting production capacity across industries. However, the impact of this upturn on market growth is yet to be fully realized. The market is also being driven by increased awareness of worker safety, growing demand for managing bulk materials, and the influence of Industry 4.0 technologies, such as the Internet of Things (IoT). Additionally, the need for minimizing downtime and optimizing supply chain efficiency is boosting demand for material handling equipment, particularly in industries seeking to modernize their infrastructure.
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Major Players Analysis Listed in this Report are:
- BEUMER GROUP
- Daifuku Co., Ltd.
- Honeywell International, Inc.
- KION GROUP AG
- Mecalux, S.A
- Murata Manufacturing Co.., Ltd.
- SSI SCHAEFER
- Swisslog Holding AG
- TOYOTA INDUSTRIES CORPORATION
- Vanderlande Industries B.V.
- Other Players
Material Handling Equipment Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 216.77 Billion |
| Market Size by 2032 | USD 353.67 Billion |
| CAGR | CAGR of 5.59% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
Segmentation Analysis
By Product: The cranes and lifting equipment segment dominated the market in 2023, accounting for 38.2% of the total revenue. This dominance is driven by the extensive application of cranes and lifts in industries like construction, automotive manufacturing, and large-scale logistics. These systems are vital for handling heavy loads and ensuring operational safety, thus making them essential in both production and warehousing environments.
By Application: The e-commerce segment accounted for over 32.6% of the market revenue in 2023, becoming the leading application area. The increasing penetration of online shopping platforms, along with advancements in logistics infrastructure, has driven the demand for material handling equipment in this sector. Companies like Amazon and Alibaba are continuously investing in automation technologies for their distribution centers, further boosting the market's growth in this segment.
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Material Handling Equipment Market Segmentation:
By Product
- Cranes & Lifting Equipment
- Industrial Trucks
- Continuous Handling Equipment
- Racking & Storage Equipment
By Application
- Automotive
- Food & Beverages
- Chemical
- Semiconductor & Electronics
- E-commerce
- Aviation
- Pharmaceutical
- Others
Asia-Pacific Leads Material Handling Equipment Market with 34.8% Share.
Asia-Pacific dominated the global material handling equipment market in 2023, holding more than 34.8% of the market share. The region's leadership can be attributed to the rapid industrialization in countries like China and India. Significant investments in infrastructure development, such as the construction of logistics parks and e-commerce fulfilment centers, are propelling the demand for advanced material handling solutions. For example, China continues to be the world’s largest manufacturing hub, with companies like XCMG Group and SANY Heavy Industry playing crucial roles in expanding the equipment market.
North America is expected to be the fastest-growing region over the forecast period. The U.S. is witnessing a surge in automation across its automotive, e-commerce, and pharmaceutical sectors, driving the adoption of advanced material handling equipment.
Recent Developments
In April 2023: Crown equipment corporation, a global manufacturer and supplier of material handling equipment has launched its newly developed SP1500 high level order pickers with pioneering features such as ergonomically developed operator compartment with customizable controls for quicker and safer order picking.
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Key Takeaways
- The material handling equipment market is projected to grow significantly, with a focus on automation and integration of smart technologies across industries like e-commerce, automotive, and construction.
- Cranes and lifting equipment continue to dominate, while continuous handling equipment is poised for the fastest growth.
- Asia-Pacific leads the market, driven by infrastructure investments, while North America presents the fastest growth opportunities, particularly in automation and smart technologies.
- Recent developments in AI, IoT, and energy-efficient solutions are shaping the future of the material handling equipment market, creating opportunities for enhanced productivity and sustainability across various sectors.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Material Handling Equipment Market Segmentation, By Product
8. Material Handling Equipment Market Segmentation, By Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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