Analysis of the Material Handling Equipment Market: Assessment of Market Size, Trends, Statistics, and Competitors
Global Material Handling Equipment Market by Type (Manufacturer and Distributors), by Equipment (Storage & Handling Equipment, Industrial Trucks, Bulk Material Handling Equipment, Robotics, Automate Storage & Retrieval System (AS/RS), and Others), by Industry (Automotive, Consumer Goods & Electronics, Food & Beverage, Pharmaceuticals, Mining, E-Commerce, Semiconductors & Electronics, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Market Size, Share, COVID-19 Impact, Regional Analysis & Forecast Till 2030
Category - Machinery & Equipment
Report Code - OMR-ME-255
Format: PDF, PPT, and Excel
Material Handling Equipment Market Overview
Tools, equipment, machinery, automobiles, appliances, and anything else utilized to transport, lift, store, and handle items in a business context are all considered material handling equipment. Material handling equipment is used daily in a huge warehouse for a big box store to move things throughout the warehouse, manage the inventory, and load boxes for shipping. Forecasts indicate that rapid industrialization and rising demand for automated material handling equipment will drive market expansion over the projected period. Transportation of goods, especially those deemed non-essential, nearly ground to a standstill during the initial outbreak of the COVID-19 pandemic, which had a significant impact on the warehousing business. As a result of worldwide labor shortages and a precipitous drop in demand, the market was also badly hit in the early stages of the epidemic. It is projected that the biggest downstream markets for the U.S. industry, including manufacturing and wholesaling, will see increased activity due to the rising investments from individuals in industrial equipment and machinery. Consequently, rising demand for industrial items like material handling equipment is expected to coincide with rising investment in such equipment and technology. Integrating new hardware, installing new software, purchasing new peripherals, and paying for new programming all come with hefty price tags stunting the market's expansion. This places a stifling restriction on enterprises, especially SMEs.
Material Handling Equipment Market Growth Factors
Automation and Robotics Solutions Will Propel Market Value
Robotics have been proven to improve efficiency and output in the material handling equipment sector throughout the past decade. Factories are making rapid efforts to produce high-quality items while using fewer inputs from the supply chain. This equipment is in great demand, encouraging manufacturers to invest in better distribution networks. The COVID-19 pandemic has shown the importance of fast adaptation for material handling businesses in the face of inventory, sourcing, and labor disruptions. Automated processes are a must for quick responses and increased output. The increased funding for power and battery research will aid market expansion. In addition, the construction of new infrastructure around the world is being encouraged by government efforts, which bodes well for the material processing machinery market over the projection period. As a result of foreign investments in the built environment and industrial development of developing countries like India and China, the market is likely to expand. The expansion of transportation hubs, including airports, seaports, and power plants, is also expected to contribute to the market's expansion. The expansion of the materials handling equipment market is predicted to be stimulated by the development of China's Belt and Road Initiative (BRI). This plan seeks to build a rail and road network that links China and Europe through the Middle East. The exponential growth of the online retail sector has been extremely beneficial to the Material Handling Equipment Market. Canada's contributions to Industry 4.0 and developing next-generation manufacturing skills impact the design, delivery, and maintenance of products and components in various sectors and environments. Canada's e-commerce, automotive, agricultural, and pharmaceutical sectors are just a few of the many that can benefit from robotics, automation, and innovations like additive manufacturing (3D printing).
E-Commerce, Retail, Logistics, and Pharmaceutical Will Embolden the Market With Positive Repercussions
Due to the increased speed with which internet purchases may be made, personalization has reached new heights. Despite a modest reduction in demand in industrial use cases in 2020 and significant expansion in the e-commerce sector, the MHE business has grown despite the pandemic, thanks to the prevalence of specific systems and mining equipment. Manufacturers had higher expectations due to the increased demand for food shipment and distribution during the worldwide lockdowns. Furthermore, the global e-commerce business is booming, which requires a great deal of automation. Large businesses like Amazon and Walmart progressively use automated technologies to improve accuracy, efficiency, security, and bottom-line results. In addition, the growth of the industrial sector is a crucial driver of the market for material handling tools. Increases in pharmaceutical manufacturing may be attributed to several factors, including a growing elderly population with an accompanying increase in the prevalence of chronic and infectious illnesses, increased incomes, and the availability of better medical facilities. In 2020, almost 727 million individuals (9.3 percent of the world population) were 65 or older, according to figures given by the United Nations. By 2050, over 1.5 billion individuals (16 percent of the world's population) are expected to fall into this category. The prevalence of chronic illnesses is rising with the ever-increasing senior population. Osteoarthritis, diabetes, heart disease, COPD, depression, and dementia are common ailments impacting the elderly. Pharmaceutical storage and equipment for handling materials are growing as the need to treat these situations increases. Companies in the pharmaceutical industry are also investing in new and expanded drug manufacturing sites to keep up with consumer demand. New medication commercialization is anticipated to be fueled by rising pharmaceutical industry spending on research and development. Investments in pharmaceutical R&D in the United States, Europe, and other countries have increased significantly, reports the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA).
Material Handling Equipment Industry Segment
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 Conveyors Belts
o Stackers
o Elevators
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
Equipment Insight
Industrial Trucks to Drive Market Towards the Maximized Revenue Owing to Valuable Functionality
Based on equipment, the global market can be split into storage & handling equipment, industrial trucks, bulk material handling equipment, automated storage & retrieval system (AS/RS), and others.
The segment of industrial trucks is expected to have the greatest CAGR during the projection time frame because of its application in moving something around (such as, say, from a warehouse to a storage facility. This machinery is employed for localized material processing. Today's most common types of machinery are automated guided vehicles (AGVs), pallet trucks, and side loaders. These vehicles are highly sought after in the business world due to their versatility. Industrial trucks are growing in popularity because they are ideal for transporting huge containers or boxes in various end-use applications.
Due to the introduction of social distancing rules during the COVID-19 pandemic, the automated storage and retrieval system sector is projected to rise at a significant CAGR during the forecast period. Systems that prioritized efficiency and were in line with societal conventions of distance were favored during this era. Investments in automated equipment are expected to rise throughout the forecast period, opening up promising new potential for the material handling equipment market.
Industry Insight
E-Commerce to Take a Turn for the Better as Sales are Expected to Skyrocket Owing to Increased Reliance
The global market can be differentiated between automotive, consumer goods & electronics, food & beverage, pharmaceuticals, e-commerce, semiconductors & electronics, and others based on industry.
In terms of worldwide revenue in 2022, e-commerce was by far the most lucrative. The growth of the e-commerce market, the presence of major online retailers, and improvements in shipping and distribution infrastructure are all factors that should enhance demand for this product. The expansion of the food sector may be traced back to the proliferation of convenience stores that offer fast-food-like services, such as purchasing and preparing frozen foods, ready-to-eat meals, and fresh produce. The production and logistics processes in the frozen food sector have been revolutionized.
Material handling equipment is in high demand due to the growth of the automobile sector. Manufacturers are honing their lean management practices and shortening the assembly process to meet the deadline. The efficiency of the process, and hence the marketability of the equipment, depends on the timely delivery of replacement parts and other components.
Regional Insights
North America to Produce Largest Market Hold Owing to Supportive Infrastructure
Based on the geographical split, the global market can be broken down across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The APAC region is predicted to show a high CAGR. Market expansion may be traced back to the burgeoning economies of Asia Pacific countries, including India, China, and a few members of ASEAN. In addition, the global material handling equipment market share is growing due to many customers' efforts and large expenditures in upgrading their current distribution centers and storage infrastructure. In addition, the sector is expanding rapidly in China. The country is a major producer of machinery and other tools. The rapid expansion of China's manufacturing sector, especially its automobile industry, as well as its numerous manufacturing clusters, are major factors in the country's predicted market dominance.
Sales possibilities may be found in Europe's many different industries, which vary from food and drink production to electronics. In addition, same-day delivery methods in the e-commerce industry have been essential in the market's expansion. For instance, on October 14, 2021, the Spanish storage and transportation firm LogsticaCarosan announced that it had remodeled its Talavera de la Reina (Spain) facility to serve its clientele better. The firm has decided to implement Mecalux's Easy WMS warehouse management system to standardize its logistics processes. LogsticaCarosan can monitor its customers' stock in real-time with this new equipment.
Growing demand for e-commerce-enabled purchases prompted businesses to stock their warehouses with cutting-edge goods. The growing need for automated warehouse operations in North America is expected to boost the market growth. The market is expanding thanks largely to the presence of well-known corporations in the area. Material handling equipment is a growing industry thanks partly to these businesses' indirect efforts, such as technical advancements, strategic alliances, acquisitions, partnerships, and joint ventures.
Material Handling Equipment Industry Analysis
There is a lot of consolidation and fierce rivalry in the material-handling equipment market. Many companies primary growth plan to stay competitive involves organic and inorganic routes. For instance, Toyota Material Handling introduced its Mole and Mouse AGCs in April 2021. Using this solution, customers can automate mundane jobs in settings, including production lines, distribution hubs, and warehouses.
Manufacturers focus on implementing various marketing techniques to strengthen their operations and compete in the global market, including collaboration and purchase agreements with competing logistics solution organizations. Key companies are penetrating the market by regularly supplying end-users in different nations with a wide range of specialized machinery, including cranes, industrial vehicles, and material handling technology.
Material Handling Equipment Market Recent Developments
• August 2022: Interroll celebrated 20 years in China by opening a new factory in Suzhou. With a completely operational new factory in Suzhou, China, Interroll is now fully poised for prospects in the Asia-Pacific and China markets after twenty years of achievements in the Chinese material-handling sector.
• February 2022: KION Group initiated the IMOCO study in Europe. The project's goal may be to enable self-driving intelligent vehicles to operate in a manufacturing or storage facility. IMOCO, an acronym for "intelligent motion control," aims to ensure the secure operation of mobile robotic systems in dynamic intralogistics settings.
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)
Frequently Asked Questions (FAQs)
At what rate will the Material Handling Equipment Market Expand?
According to Objective Market Research, the market for material handling equipment is anticipated to grow at a CAGR of 5.9% over the forecast period.
What are the factors driving the global Material Handling Equipment Market?
The global material handling equipment market is expected to grow during the forecast period because automation in factories and warehouses is in high demand due to rising productivity needs, rising acceptance of cutting-edge technology, and rising demand from developing nations.
Which segment accounted for the largest Material Handling Equipment Market share by Industry?
In 2022, e-commerce made more money than any other industry globally. Demand for this item ought to rise due to developments in the shipping and distribution infrastructure, the expansion of the e-commerce sector, and the prominence of large online retailers.
What region holds the major share in the global market scape?
High CAGR is expected in APAC. Asia Pacific nations, including India, China, and a few ASEAN members, are driving the market growth. Due to clients' considerable investments in updating distribution centers and storage facilities, the worldwide material handling equipment market share is expanding.
Which are the dominating players in the market during the forecast period?
Some dominant market leaders in the global material handling equipment market are Schaefer System International Ltd. (Germany), Toyota Industries Corporation (Japan), Jungheinrich AG (Germany), Daifuku Co., Ltd. (Japan), Liebherr Group (Switzerland), and Kion Group AG (Germany), among others.
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Table of Content
1. Introduction
1.1 Market Definition
1.2 Objective of the Study
1.3 Market Scope
1.4 Years Considered in the Study
1.4.1 Historic Year: 2019-2021
1.4.2 Base Year: 2022
1.4.3 Forecast Period: 2023-2030
1.5 Currency Used in the Study
1.6 Boundaries for the Study
1.7 Collaborators/Stakeholders/Benefactors
2. Research Methodology
2.1 Research Outline
2.2 Data Collection Methods
2.3 Data Sources
2.3.1 Secondary Sources
2.3.1.1 Paid Sources
2.3.1.2 Unpaid Sources
2.3.2 Primary Sources
2.4 Market Estimation Methodology
2.4.1 Top-Down Approach
2.4.2 Bottom-Up Approach
2.5 Data Triangulation
2.6 Assumptions of the Study
2.7 Limitations of the Study
3. Executive Summary
3.1 Market Outlook
3.2 Analysts Perspective
4. Market Overview
4.1 Market Dynamics
4.1.1 Drivers
4.1.1.1. Robotic & Automation Solutions
4.1.1.2. Various Integration Within End-Use Industries
4.1.2. Restrain
4.1.2.1. Higher Initial Cost
4.1.3. Opportunities
4.1.3.1. Pharmaceutical Sector
4.1.4. Impact of Market Dynamics
4.2. Impact of COVID-19 pandemic
4.3. Value Chain Analysis
4.4. Porter’s Five Forces Analysis
4.4.1. Bargaining Power of Buyers
4.4.2. Bargaining Power of Suppliers
4.4.3. Threat of Substitution
4.4.4. Threat of New Entrants
4.4.5. Competitive Rivalry
5. Global Material Handling Equipment Market by Type from 2019-2030 (in USD million) (Units)
5.1. Manufacturer
5.2. Distributors
6. Global Material Handling Equipment Market Analysis & Forecast, by Equipment from 2019-2030 (in USD million) (Units)
6.1. Storage & Handling Equipment
6.1.1. Racks/Pellets
6.1.2. Stacking Frames
6.1.3. Shelves, Bins, & Drawers
6.1.4. Others
6.2. Industrial Trucks
6.2.1. Automated Guided Vehicles (AGVs)
6.2.2. Pallet Trucks
6.2.3. Side Loaders
6.2.4. Others
6.3. Bulk Material Handling Equipment
6.3.1. Conveyors Belts
6.3.2. Stackers
6.3.3. Elevators
6.3.4. Others
6.4. Automated Storage & Retrieval System (AS/RS)
6.5. Others
7. Global Material Handling Equipment Market Analysis & Forecast, by Industry from 2019-2030 (in USD million) (Units)
7.1. Automotive
7.2. Consumer Goods & Electronics
7.3. Food & Beverage
7.4. Pharmaceuticals
7.5. E-Commerce
7.6. Semiconductors & Electronics
7.7. Others
8. Global Material Handling Equipment Market Analysis & Forecast, by Region from 2019-2030 (in USD million) (Units)
8.1. North America
8.1.1. North America Material Handling Equipment Market Analysis & Forecast, By Country
8.1.1.1. U.S.
8.1.1.2. Canada
8.1.1.3. Mexico
8.1.2. North America Material Handling Equipment Market Analysis & Forecast, By Type
8.1.3. North America Material Handling Equipment Market Analysis & Forecast, By Equipment
8.1.4. North America Material Handling Equipment Market Analysis & Forecast, By Industry
8.2. Europe
8.2.1. Europe Material Handling Equipment Market Analysis & Forecast, By Country
8.2.1.1. Germany
8.2.1.2. UK
8.2.1.3. France
8.2.1.4. Spain
8.2.1.5. Italy
8.2.1.6. Rest of Europe (RoE)
8.2.2. Europe Material Handling Equipment Market Analysis & Forecast, By Type
8.2.3. Europe Material Handling Equipment Market Analysis & Forecast, By Equipment
8.2.4. Europe Material Handling Equipment Market Analysis & Forecast, By Industry
8.3. Asia-Pacific (APAC)
8.3.1. Asia-Pacific Material Handling Equipment Market Analysis & Forecast, By Country
8.3.1.1. Japan
8.3.1.2. China
8.3.1.3. India
8.3.1.4. South Korea
8.3.1.5. Rest of the APAC
8.3.2. Asia-Pacific Material Handling Equipment Market Analysis & Forecast, By Type
8.3.3. Asia-Pacific Material Handling Equipment Market Analysis & Forecast, By Equipment
8.3.4. Asia-Pacific Material Handling Equipment Market Analysis & Forecast, By Industry
8.4. Latin America
8.4.1. Latin America Material Handling Equipment Market Analysis & Forecast, By Country/Region
8.4.1.1. Argentina
8.4.1.2. Brazil
8.4.1.3. Rest of Latin America
8.4.2. Latin America Material Handling Equipment Market Analysis & Forecast, By Type
8.4.3. Latin America Material Handling Equipment Market Analysis & Forecast, By Equipment
8.4.4. Latin America Material Handling Equipment Market Analysis & Forecast, By Industry
8.5. Middle East & Africa
8.5.1. Middle East & Africa Material Handling Equipment Market Analysis & Forecast, By Country/Region
8.5.1.1. South Africa
8.5.1.2. UAE
8.5.1.3. Saudi Arabia
8.5.1.4. Rest of Middle East & Africa
8.5.2. Middle East & Africa Material Handling Equipment Market Analysis & Forecast, By Type
8.5.3. Middle East & Africa Material Handling Equipment Market Analysis & Forecast, By Equipment
8.5.4. Middle East & Africa Material Handling Equipment Market Analysis & Forecast, By Industry
9. Competitive Landscape
9.1. Market Share Analysis (2022)
9.2. Market Positioning of Top Players (2022)
9.3. Key Developments & Growth Strategies (2020-2022)
9.3.1. Product Launches
9.3.2. Merges, Collaborations & Agreements
9.3.3. Expansion
9.4. SWOT Analysis
10. Company Profiles (Business Overview, Products Offered, Financial Details*, Recent Developments)
10.1. Schaefer System International Ltd. (Germany)
10.1.1. Company Snapshot
10.1.2. Business Overview
10.1.3. Financial Data
10.1.4. Key Products Offered
10.1.5. Recent Developments
10.2. Toyota Industries Corporation (Japan)
10.3. Jungheinrich AG (Germany)
10.4. Daifuku Co., Ltd. (Japan)
10.5. Liebherr Group (Switzerland)
10.6. Kion Group AG (Germany)
10.7. Hyster-Yale Materials Handling, Inc. (U.S.)
10.8. Kion Group AG (Germany)
10.9. Buemer Group (India)
10.10. Action Construction Equipment Ltd. (India)
10.11. Mecalux, S.A. (Spain)
10.12. Swisslog Holding AG (Switzerland)
10.13. Others
11. Appendix
11.1. Currency Exchange Rate to USD
11.2. Abbreviations
* Financial details captured might be subjected to information available and not be given for privately-held companies or for companies that do not report it in the public domain