Material Handling Equipment Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Storage & Handling Equipment, Industrial Trucks and Region

Material Handling Equipment Market Overview:

Because of the coronavirus epidemic, more than 50.0 percent of industrial owners expect new projects to be postponed or halted. Close to 30.0 percent of owners, on the other hand, intend to change sales income based on ongoing projects. Unless OEMs seek to transition digitally, the facts cited do not auger well for market growth. Market growth is projected to be aided by investments in power and battery technology. Apart from the uncertainties generated by the coronavirus pandemic, positive government measures worldwide encourage new infrastructure development, resulting in growth prospects in the material handling equipment market over the projection period. Economies like India, China, and Southeast Asia are drawing foreign investment, supporting infrastructure and industrial development, and thereby opening up new growth opportunities. Airports, train networks, seaports, and power plants are examples of public infrastructure development. Over the foreseeable period, all of these activities may encourage the use of material handling equipment. Despite a slight drop in demand for industrial applications in 2020, extraordinary expansion in the e-commerce sector aided market growth throughout the pandemic.

 

Despite the lockdown, there was a healthy demand for groceries delivery and distribution, which helped the sector develop. In addition to OEMs, the epidemic has prompted other supply chain companies to investigate solutions that can help them make better decisions by utilizing AI to evaluate enormous volumes of data they collect on a regular basis. A mix of data-driven insights and hindsight will aid in the development of a robust supply chain that is supported by technological advancements in equipment.

 

The materials handling equipment business is predicted to benefit from China's One Belt One Route (OBOR) plan, also known as the Belt and Road Initiative (BRI). The idea to link a network of rail and road lines from China to Europe via the Middle East will spur economic development. Over the next few years, similar measures will bode well for the material handling equipment market. The COVID-19 epidemic generated a desire for a fully automated solution in the industrial industry, according to the 2021 Automation Solutions Survey Study, with enterprises boosting investments in automated solutions over the next four years. In the next two years, companies plan to improve their conveyor and sortation systems. However, as a result of the epidemic, numerous medium-sized enterprises have cancelled or postponed plans to buy or upgrade new equipment.

 

 

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Product Segment Overview:

The industrial trucks segment dominated the material handling equipment market in 2020, accounting for over 30.0 percent of total revenue, and is expected to increase steadily during the forecast period. Because of their wide range of applications in an industrial setting, these trucks are a popular choice. Industrial trucks are used to transport huge containers or boxes in a variety of end-use markets, resulting in a larger market share. Over the projection period, as logistic organizations strive toward embracing sustainable products, demand for battery-operated vehicles will grow. Despite the fact that the COVID-19 pandemic hampered sales in 2020, the market is expected to reach pre-COVID levels by 2022, with a CAGR of more than 7.0 percent over the next seven years.

 

In 2020, the automated storage and retrieval system segment contributed for 28.2 percent of total revenue. Warehouses are implementing social distance during the COVID-19 pandemic, according to this growth. During this time, these systems were popular because they increased efficiency and corresponded with social distancing norms. Investing in automated equipment will expand throughout the forecast period, offering profitable prospects in the material handling equipment market. From 2021 to 2028, the automated storage-retrieval systems segment is expected to grow at a rate of more than 8%, slightly higher than the global average.

 

End-Use Segment Overview:

In 2023, the e-commerce industry dominated the material handling equipment market, accounting for 23.2 % of total sales. During the lockdown limitations, a sudden need for distribution and transportation of necessary products, particularly groceries, boosted market growth. The impact of the coronavirus will not be a one-time boost; rather, it will have a long-term impact on industrial demand, offering chances for material handling equipment vendors. By 2027, the e-commerce sector's demand for material handling equipment is expected to exceed USD 10.0 Bn.

 

Aside from the pandemic, the retail industry has always shown massive growth potential, a trend that will continue in the long run. The ease of online shopping has encouraged retailers to build micro-fulfillment centres that facilitate quick product deliveries, increasing the demand for material handling equipment.

 

The automotive category, which was followed by the e-commerce sector, accounted for a considerable revenue share in the material handling equipment market in 2020. By 2027, the segment is expected to be worth more than USD 5.0 Bn. AGVs, or automated guided vehicles, are favored by automakers due to the autonomy they provide when performing daily operations.

 

 

Regional Overview:

In 2023, Europe dominated the material handling equipment market, accounting for 34.1 percent of total sales. Market expansion will be aided by the adoption of innovative products to support large-scale industrial presence in the region. There are numerous industries in Europe that provide sales prospects, ranging from food and beverage to electronics production. In addition to industrial industries, same-day delivery models in the e-commerce sector contributed to regional demand in 2020, a trend that is projected to continue in the coming years.

 

The material handling equipment market in Asia Pacific is predicted to develop at a CAGR of 9.7% over the forecast period. OEMs should expect a multitude of options from China and India, allowing them to access a wider range of end users. During the pandemic, the rapid adoption of e-commerce services drove regional growth, boosting equipment purchases.

 

Insights into Key Companies and Market Share

Material handling equipment is a highly consolidated market that is characterized by fierce rivalry. Vendors plan to use organic and inorganic ways to maintain competition as part of a key growth strategy. For example, Toyota Material Handling, a subsidiary of Toyota Industries Corporation, launched Mole and Mouse Automated Guided Carts in April 2021. (AGCs). Customers should be able to automate repetitive operational operations in assembly lines, distribution centres, warehouses, and manufacturing plants with the product. Similarly, Vanderlande Industries B.V, a logistics process automation company, launched HOMEPICK, a goods-to-person (GTP) picking system, in July 2020. The product adds to the company's automated storage and retrieval system (AS/RS) and allows customers to place online supermarket orders.

 

Key vendors are also focusing on mergers and acquisitions to assist expand their geographic reach and boost their market presence. For example, Daifuku Co., Ltd, a material handling equipment manufacturer, purchased Vega Conveyors and Automation Private Limited in April 2019. The acquisition would allow the company to increase its market footprint in India and other APAC countries. Similarly, Toyota Industries Corporation bought Hoist Liftruck Mfg., LLC in February 2019. Toyotaexp and its portfolio are likely to benefit from the acquisition, as well as its customer base in North America.

 

The objective of the report is to present a comprehensive analysis of the Global Material Handling Equipment Market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Material Handling Equipment Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the global market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Material Handling Equipment Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global Material Handling Equipment Market. The report studies factors such as company size, market share, market growth, revenue and profits of the key players in the mlobal market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their Storage & Handling Equipment quality is in the Market. The report also analyses if the Global Material Handling Equipment Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Material Handling Equipment Market is aided by legal factors.

 

Global Material Handling Equipment Market Scope:

Material Handling Equipment Market
Market Size in 2023	USD 34.73 Bn.
Market Size in 2030	USD 55.77 Bn.
CAGR (2024-2030)	7%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Storage & Handling Equipment Racks Stacking frames Shelves, bins & drawers Mezzanines
	By Industrial Trucks Automated Guided Vehicles (AGVs) Hand, platform & pallet trucks Order pickers Pallet jacks Side loaders Walkie stackers
	by Bulk Material Handling Equipment Conveyor belts Stackers Reclaimers Elevators
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Major Players operating in the Global Material Handling Equipment Market are:

• BEUMER Group
• Daifuku Co., Ltd.
• Honeywell International Inc.
• Kion Group AG
• Mecalux, S.A
• Murata Machinery Ltd.
• SSI Schaefer AG
• Swisslog Holding AG
• Toyota Material Handling Group
• Vanderlande Industries B.V
• Schaefer Holding International GmbH
• Godrej
• ACE
• Om engineering
• Beumer Group GmbH
• Kardex AG
• viastore systems Inc.