Global Material Handling Equipment Market Size, Drivers, Trends, Opportunities And Strategies – Includes Material Handling Equipment Market Analysis
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 rising e-commerce industries are expected to drive innovation in material handling equipment manufacturing, thus driving the market during the forecast period.
The global material handling equipment market is expected to grow from $180.60 billion in 2022 to $194.27 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The material handling equipment market size is expected to reach $248.83 billion in 2027 at a CAGR of 6.3%.
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- By Type:Manufacturer, Distributor
- By Product: Cranes and Lifting Equipment, Industrial Trucks, Continuous Handling Equipment, Racking and Storage Equipment
- By End Users:Automotive, Food And Beverages, Chemical, Semiconductor And Electronics, E-commerce, Aviation, Pharmaceutical, 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 equipment market in 2021.
Major Market 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.
Technological innovation are a key trend gaining popularity in the material handling equipment market. Major players are concentrating on creating innovative equipment technologies products, such as electric material handling equipment to strengthen their position. For instance, in May 2022, Linde Material Handling, a Germany-based manufacturer of forklift trucks and warehouse equipment company, introduced electric heavy-duty forklift trucks with load capacities ranging from 10 to 18 tonnes. This innovative, compact, heavy-duty truck series is built on the eight-ton range and includes a double drive, double lifting hydraulics, two batteries, and scaled pumps.
The Material Handling Equipment Global Market Report 2023 provides a material handling equipment market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The material handling equipment market forecast analyzes material handling equipment market size, material handling equipment 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.
The material handling equipment refers to a mechanical equipment utilised for a variety of purposes throughout the transit or storage of products in industrial settings. It facilitates the transportation, storage, and control of commodities and materials during the manufacturing, distribution, usage, and disposal. These devices make it possible to move big quantities of products and heavy objects quickly and efficiently.
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