Pune, Oct. 04, 2019 (GLOBE NEWSWIRE) -- Rising adoption of automated material handling equipment in manufacturing facilities will enable growth of the global material handling equipment market, says Fortune Business Insights in a report, titled “Material Handling Equipment Market Size, Share & Industry Analysis, By Equipment Type (Cranes & Lifting Equipment, Industrial Trucks, Continuous Handling Equipment, Racking & Storage Equipment), By Operations (Assembly, Distribution, Transportation, Others), By Industry (Consumer Goods & Electronics, Automotive, Food & Beverages, Pharmaceutical, Construction, Mining, Semiconductors, Others), and Regional Forecast, 2019-2026.” The global material handling equipment market was valued at USD 194.73 Billion in 2018 and is expected to reach USD 354.03 Billion by 2026, exhibiting a CAGR of 7.8%.
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According to the report, the global material handling the equipment on the basis of equipment type is segmented into cranes & lifting equipment, industrial trucks, continuous handling equipment, racking & storage equipment. The cranes & lifting equipment segment is expected to account for the highest revenue during the forecast period owing to the increasing number of commercial and residential projects which require equipment for lifting up heavy metals and other construction materials. In addition, the surge in mining activities for metals such as gold, iron ore and other metals is also expected to fuel demand for cranes & Lifting Equipment.
The report offers pertinent and subtle data. It segments the global material handling equipment market on the basis of equipment outlook, operations, end use, and region. The report aims to benefit the companies operating in the global material handling equipment market by offering information prevailing demand and supply trends. In addition, the study also discusses the market drivers that enable growth and restraints, limiting the market’s expansion.
Increasing Government Initiatives Will Boost Growth
The rising adoption of advanced material handling equipment is a key factor driving the global material handling equipment market. Increasing government initiatives for the expansion of manufacturing facilities and growing foreign direct investments will boost material handling equipment market revenue. Furthermore, the introduction of smart factories and industry 4.0 will further augment the growth of the material handling equipment market. In addition, the rising installation of robotics for performing critical operations and dealing with hazardous products is expected to further enable growth of the global material handling equipment market.
Increasing Demand For Cranes & Lifting Equipment Will Favor Growth
Cranes & lifting equipment segment will account for maximum shares in the global material handling equipment market during the forecast period owing to rising mining activities for metals such as gold, iron ore and others. Furthermore, the increasing number of commercial and residential projects which require equipment for lifting up heavy metals and other construction materials will propel the growth of the Cranes & lifting equipment, which, in turn will uplift the global material handling equipment market.
Moreover, rising focus of manufacturers for the expansion of their production facilities in order to eliminate dependency on other regions for procuring raw materials or importing machine parts is expected to create lucrative growth opportunities for the global material handling equipment market during the forecast period.
List of Key Companies Profiled:
- Liebherr Group
- Manitowoc
- Columbus McKinnon Corporation
- BEUMER GROUP
- KION GROUP AG
- TOYOTA INDUSTRIES CORPORATION.
- Eisenmann SE
- Crown Equipment Corporation
- Daifuku Co., Ltd
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Table of Content
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints, and Opportunities
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Material Handling Equipment Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Equipment Type (Value and Volume)
- Cranes & lifting equipment
- Industrial Trucks
- Continuous Handling Equipment
- Racking & Storage Equipment
- By Operations (Value)
- Assembly
- Distribution
- Transportation
- Others
- By End-Use Application (Value)
- Consumer Goods & Electronics
- Automotive
- Food & Beverages
- Pharmaceutical
- Construction
- Mining
- Semi-conductors
- Others (Aviation, Chemicals)
- By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Equipment Type (Value and Volume)
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