Material Handling Equipment Market Insights: The Key to Unlocking Market Dynamics and Opportunities
Category - Machinery & Equipment
Report Code - OMR-ME-255
Format: PDF, PPT, and Excel
Material Handling Equipment Market to Gather Revenue Growth of 5.9% During Forecast, Factors such as Automation and Robotics Solutions to Offer Streamlined Revenue
Material handling equipment includes all tools, machinery, automobiles, and appliances used to transport, lift, shop, and manage objects commercially. Material handling equipment is utilized daily in a massive warehouse for a big box retailer to transport items throughout the distribution center, manage inventory, and load boxes for delivery.
Due to the total breakdown of the supply chain, market participants' inability to maintain a constant supply of their products within the market worsened. As a result of the global COVID-19 pandemic, the manufacturing facilities of prominent market participants were temporarily shut down, resulting in a massive supply-demand imbalance that hampered the industry's growth potential.
Key Takeaways of the Material Handling Equipment Market
By Equipment
The industrial trucks segment is anticipated to have the highest CAGR during the forecast period due to its utility in transporting things around (such as from a warehouse to a storage facility). This apparatus is used for the localized processing of materials.
By Industry
In terms of global revenue in 2022, e-commerce was by a wide margin the most profitable. This product's demand should increase due to the expansion of the e-commerce market, the prevalence of significant online retailers, and the development of shipping and distribution infrastructure.
By Region
The market expansion can be attributed to the expanding industries of Asia-Pacific nations, such as India, China, and a few ASEAN members. In addition, the global market share for material handling equipment is expanding due to many customers' efforts and substantial expenditures to upgrade existing distribution centers and storage infrastructure.
Canada’s Growth to Propel Market Towards an Incredible Growth Rate
Canada's contributions to the advancement of Industry 4.0 and the development of skills for the next iteration of manufacturing impact the design, delivery, and maintenance of goods and accessories in various sectors and environments. Canada's e-commerce, automobile, agricultural, and pharmaceutical industries can benefit from automated procedures, robotics, and innovations like additive fabrication (3D printing).
Factories are making rapid efforts to produce high-quality goods with fewer inputs than the supply side. This apparatus is in high demand, which motivates manufacturers to invest in more efficient distribution networks. The COVID-19 pandemic has demonstrated the significance of rapid change for material handling companies facing inventory, procurement, and labor disruptions. For fast responses and increased output, automated processes are required. Increased funding for energy and battery science will facilitate market growth.
Rising Focus on Medical Applications to Augment Market Towards Extended State
Personalization is reaching new levels due to the increased rapidity at which internet purchases can be made. Due to the widespread use of specific systems and mining equipment, the MHE business has grown despite the pandemic, a slight decline in demand for industrial applications in 2020, and a substantial expansion in the e-commerce sector. With a greater need for food shipment and transport during the international lockdowns, manufacturers had higher expectations.
Pharmaceutical companies are also investing in new and expanded medication manufacturing facilities to meet consumer demand. Increasing pharmaceutical industry expenditure on research and development is anticipated to fuel the commercialization of new drugs. According to the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), pharmaceutical R&D investments in the United States, Europe, and other nations have increased significantly.
Global Material Handling Equipment Market Prominent Players
• Schaefer System International Ltd. (Germany)
• Toyota Industries Corporation (Japan)
• Jungheinrich AG (Germany)
• Daifuku Co., Ltd. (Japan)
• Liebherr Group (Switzerland)
• Kion Group AG (Germany)
• Hyster-Yale Materials Handling, Inc. (U.S.)
• Kion Group AG (Germany)
• Buemer Group (India)
• Action Construction Equipment Ltd. (India)
• Mecalux, S.A. (Spain)
• Swisslog Holding AG (Switzerland)
Report Scope for Material Handling Equipment Market
Type
• Manufacturer
• Distributors
Equipment
• Storage & Handling Equipment
o Racks/Pellets
o Stacking Frames
o Shelves, Bins, & Drawers
o Others
• Industrial Trucks
o Automated Guided Vehicles (AGVs)
o Pallet Trucks
o Side Loaders
o Others
• Bulk Material Handling Equipment
o Automated Guided Vehicles (AGVs)
o Pallet Trucks
o Side Loaders
o Others
• Automated Storage & Retrieval System (AS/RS)
• Others
Industry
• Automotive
• Consumer Goods & Electronics
• Food & Beverage
• Pharmaceuticals
• E-Commerce
• Semiconductors & Electronics
• Others
Material Handling Equipment Market Regional Segmentation
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe (RoE)
Asia Pacific (APAC)
o Japan
o China
o India
o South Korea
o Rest of APAC
Latin America
o Argentina
o Brazil
o Rest of Latin America
Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA
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