Material Handling Equipment Industry 2022 | Product Specification, Growth Drivers, Applications And Forecast To 2030

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The material handling equipment market is vital in manufacturing and other major industrial verticals. Particularly, the control, storage, and movement over the products handled are some of the vital operations carried out in the industrial units.

The material handling equipment market is vital in manufacturing and other major industrial verticals. Particularly, the control, storage, and movement over the products handled are some of the vital operations carried out in the industrial units. The global material handling equipment market has registered enormous growth in the last few years. The market’s growth is mainly credited to the rapid growth of the e-commerce sector worldwide. Furthermore, factors such as the increasing labor costs in developed countries and customization of the equipment, increasing investment, increasing government initiatives, and the systems are also anticipated to impact the market’s growth over the coming years positively. However, the high initial capital investment will likely restrict the market’s growth.

The MRFR report predicts that the global material handling equipment market will grow substantially during the assessment era.

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Segment Analysis

The global material handling equipment market has been segregated into various segments based on product, end user, technology, component, equipment, application, and region.

Based on product, the global material handling equipment market is split into bulk material handling equipment, automated storage, and retrieval system, storage and handling equipment, industrial trucks, and others.

Based on end user, the global material handling equipment market is divided into pharmaceutical, e-commerce, chemical, automotive, aviation, semiconductor electronics, food beverages, and others.

Based on equipment, the global material handling equipment market is divided into the hand, platform pallet trucks, industrial trucks, shelves, bins drawers, racks, automated guided vehicles (AGVs), stacking frames, storage handling equipment, mezzanines, and others.

Based on the component, the global material handling equipment market is divided into robotics, reclaimers, conveyor belts, walkie stackers, pallet jacks, elevators, stackers, bulk material handling equipment, side loaders, order pickers, and others.

Based on technology, the material handling equipment market is split into mini-load AS/RS, unit load AS/RS, and automated storage retrieval system (AS/RS).

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Regional Analysis

The global material handling equipment market is studied across five major regions: North America, Europe, Latin America, Asia-Pacific, and the Middle East Africa.

The Asia-Pacific region will likely secure the top position in the global material handling equipment market with a robust CAGR of over 9.7% during the assessment era. The regional market’s growth is primarily attributed to the growing demand in the manufacturing, automotive, and other major end-user industries. In recent years, nations such as Taiwan, China, and South Korea are rapidly implementing modern material handling methods to serve the growing production services. 

The material handling equipment market for the North American region is also likely to record substantial growth over the assessment era. The regional market’s growth is driven mainly by the rising sales across the region owing to the e-commerce industry. In addition, the factors such as the adoption of automated warehouse practices and increasing growth of durable and non-durable goods across the region are anticipated to boost the regional market’s growth over the coming years.  

Competitive Analysis

The global material handling equipment market has an incredibly competitive landscape. The players across the global market are implementing several growth policies such as strategic partnerships, mergers, and product launches. The material handling equipment market has prominent players such as Crown Equipment Corporation (Ohio, United States), KION GROUP AG (Frankfurt, Germany), Manitowoc (Wisconsin, United States), Daifuku Co., Ltd (Osaka, Japan), Eisenmann SE (Böblingen, Germany), BEUMER GROUP (Beckum, Germany), Hyster-Yale Materials Handling, Inc. (Ohio, United States), and several others.

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Recent Developments:

  • March 2022- A prominent supplier of construction and material handling equipment, Alta Equipment Group Inc., has announced that it has received the Arizona sales and service territory for a global supplier in zero-emissions transportation and energy infrastructure solutions, Nikola Corporation. The deal further grows Alta’s dealer territory with Nikola beyond the NY, New England, eastern PA, and NJ markets, as revealed in August of 2021, and will replace Empire Transport in Arizona.

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