Material Handling Equipment Market

The Material Handling Equipment Market is predicted to rise to USD 28,462 million by 2028, witnessing 7.4% CAGR during 2021-2028

Material Handling Equipment Market Overview

Materials handling equipment are mechanical equipment that is used for moving, storing, controlling, and protecting products and materials throughout the manufacturing processes that include distribution, consumption, and disposal. These equipment help in improving customer service, reducing delivery time, and lowering overall handling costs in industries.

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Major Material Handling Equipment Market Drivers

The material handling equipment market size is expected to grow at a high CAGR over the forecast period primarily due to the increasing number of industries including e-commerce, automotive, construction, healthcare, aviation, and electronics, rising labor costs, the demand for enhanced safety of the workforce, and reduced contamination. In addition, the growing demand for flexibility in warehouse activities, enhanced storage, transportation of goods, and process efficient productivity in warehouses and manufacturing plants is further expected to augment the growth of the market. Moreover, the growing need for automation in logistics management and technological advancements that includes artificial intelligence, nanotechnology, 3D vision technology, wireless technologies, and cloud computing is anticipated to provide lucrative development opportunities to the material handling equipment market in the coming years.

Restraint in the Material Handling Equipment Market

The high initial cost of material handling equipment and the lack of an expert workforce to operate and repair the system is expected to hamper the material handling equipment market growth over the forecast period.

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Equipment Type – Segment Analysis

Based on the equipment type, cranes & lifting equipment are expected to grow at a moderate CAGR over the forecast period owing to the increasing number of commercial and residential construction activities requiring equipment for heavy construction materials. Additionally, the rising demand for cranes and lifting equipment for lifting loads in the shipping industry, mining industry, and logistics industry is further expected to contribute to the market growth.

Operation – Segment Analysis

Based on the operation, transportation is expected to account for a large market share over the forecast period primarily due to the growing demand for material handling devices including forklifts, carts, pallets, conveyors, conveyance robots, sorters, picking systems to move material from one location to another in industries including automotive, chemical, electronics, e-commerce, pharmaceutical, and others.

Industry – Segment Analysis

Based on the industry, e-commerce is expected to hold a notable share in the market. This can be attributed to the significantly rising online shopping platforms for B2B and B2C businesses and increasing adoption of material handling systems for efficient management of supply chains in e-commerce industries. Moreover, according to UNCTAD, global e-commerce sales that include business-to-business (B2B) and business-to-consumer (B2C) sales reached $26.7 trillion globally in 2019, with an increase of 4% from 2018. Also, the share of online retail sales out of total retail sales increased from 16% to 19% in 2020, primarily due to the movement restrictions induced by COVID 19. This is expected to support the growth of the market over the forecast period.

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Regional – Segment Analysis:

North America is expected to hold a notable share in the material handling equipment market primarily due to the rising cost labor, the increasing adoption of warehouse automation, and the growing industries including e-commerce, manufacturing, and aviation in North America. According to UNCTAD, the United States dominated the overall e-commerce industry with $8,640 billion in e-commerce sales in 2018. This is further augmenting the growth of the market.

Top Market Players

Several leading Compressor Oil companies operating in the market, include, Godrej & Boyce Mfg. Co. Ltd., Daifuku Co., Ltd., Honeywell International Inc., Toyota Industries Corporation, Kion Group AG, KUKA AG, Liebherr Group, The Manitowoc Company, Inc., Columbus McKinnon Corporation, and Beumer Group among others.

Key Developments:

• • In 2020, Godrej Material Handling, a part of Godrej & Boyce Mfg. Co. Ltd, formed a strategic alliance with Greendzine Technologies Pvt. Ltd. to announce the launch of MOPTro, a motorized order-picking trolley.

Segments covered in the Report:

The global material handling equipment market has been segmented on the basis of equipment type, operation, industry, and key regions. Based on equipment type, the market is segmented into cranes & lifting equipment, industrial trucks, continuous handling equipment, and racking & storage equipment. Based on the operation, the market is segmented into assembly, distribution, transportation, and others. Based on industry, the market is segmented into automotive, food & beverages, chemical, semiconductor & electronics, e-commerce, aviation, pharmaceutical, construction, and others.

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Market Segmentation

Global Material Handling Equipment Market by Equipment Type

• • Cranes & Lifting Equipment
  • Industrial Trucks
  • Continuous Handling Equipment
  • Racking & Storage Equipment

Global Material Handling Equipment Market by Operation

• • Assembly
  • Distribution
  • Transportation
  • Others

Global Material Handling Equipment Market by Industry

• • Automotive
  • Food & Beverages
  • Chemical
  • Semiconductor & Electronics
  • E-Commerce
  • Aviation
  • Pharmaceutical
  • Construction
  • Others

Global Material Handling Equipment Market by Region

• • North America Material Handling Equipment Market (Option 1: As a part of the free 25% customization)

    • By Equipment Type
    • By Operation
    • By Industry
    • US Market All-Up
    • Canada Market All-Up

  • Europe Material Handling Equipment Market (Option 2: As a part of the free 25% customization)

    • By Equipment Type
    • By Operation
    • By Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Material Handling Equipment Market (Option 3: As a part of the free 25% customization)

    • By Equipment Type
    • By Operation
    • By Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Material Handling Equipment Market (Option 4: As a part of the free 25% customization)

    • By Equipment Type
    • By Operation
    • By Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Material Handling Equipment Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Godrej & Boyce Mfg. Co. Ltd.
  • Daifuku Co., Ltd.
  • Honeywell International Inc.
  • Toyota Industries Corporation
  • Kion Group AG
  • KUKA AG
  • Liebherr Group
  • The Manitowoc Company, Inc.
  • Columbus McKinnon Corporation
  • Beumer Group