The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The growth of material handling market witnessed growth owing to a rise in the e-commerce industry are expected to drive innovation in material handling manufacturing, thus driving the market during the forecast period.

The global material handling market is expected to grow from $38.23 billion in 2022 to $41.82 billion in 2023 at a compound annual growth rate (CAGR) of 9.4%. The global material handling market size is expected to grow to $58.94 billion in 2027 at a CAGR of 9.0%.

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Global Material Handling Market Segments Include:

• By Type:Automated Guided Vehicles, Automated Storage And Retrieval Systems, Trucks And Lifts, Cranes, Pallet Racking, Conveying Systems, Hoists, Other Types
• By Operations:Assembly, Distribution, Transportation, Other Operations
• By End User:Food & Beverages, Automotive, Construction, Consumer Goods & Electronic, Pharmaceuticals, E-Commerce, Other End Users
• By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global material handling market in 2021.

Major Market Players in the material handling market include Toyota Industries Corporation, Daifuku Co., Ltd., Beumer Group, Liebherr Group, Dematic Group, Jungheinrich AG, Columbus McKinnon Corporation.

Lithium-ion technology is an emerging trend in the material handling market. Li-ion batteries are environmentally friendly and offer higher energy densities than lead-acid or nickel-metal hydride batteries. It can store more electricity and is mostly preferred for electric vehicles that are used in material handling. Additionally, Lithium-ion batteries are lightweight, charge quickly, and doesn’t require cool-down intervals. For instance, Flux Power Holdings, Inc., a prime developer of advanced Li-ion batteries, launched the LiFT Pack L48 Li-ion battery pack at MODEX 2020. The battery is specifically designed for 3-wheel forklifts which are used in narrow aisle and high-performance warehouses. The battery offers high capacity and also demands minimum maintenance.

The Material Handling Global Market Report 2023  provides a material handling market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The material handling market forecast analyzes material handling market size, material handling market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Materials handling refers to the movement of raw goods from their native site to the point of use in manufacturing, their subsequent manipulation in production processes, and the transfer of finished products from factories and their distribution to users or sales outlets.

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