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The Global Material Handling Equipment (MHE) market is shaped by dynamic factors influencing the production, demand, and applications of various tools and systems designed to efficiently move, control, and protect materials during manufacturing, distribution, consumption, and disposal processes. Material handling equipment encompasses a broad range, including conveyors, forklifts, automated storage and retrieval systems, and robotics. The market dynamics are intricately linked to factors such as industrial growth, e-commerce trends, automation, technological advancements, and the need for streamlined supply chain operations.
The increasing investment in the material handling equipment industry by the established market players is bringing in a series of inventions and updates in the material handling equipment industry. Such factors are stimulating the potential end-users to increase their utilization of the material handling equipment for their business growth.
One of the key drivers of the Global Material Handling Equipment market is the rapid industrialization and the increasing demand for optimized material handling processes. As industries expand, the efficiency and speed of moving materials within and between facilities become critical. Material handling equipment enables organizations to enhance productivity, reduce labor costs, and improve overall operational efficiency, driving the demand for innovative and automated solutions.
The rise of e-commerce represents a significant influencer of the Material Handling Equipment market dynamics. With the growth of online retail, there is an increasing need for efficient warehouse operations and order fulfillment. Material handling equipment, such as automated conveyors, robotic picking systems, and palletizing machines, plays a crucial role in managing the flow of goods in distribution centers and warehouses, meeting the demands of the booming e-commerce sector.
The construction and manufacturing sectors significantly contribute to the market dynamics of Global Material Handling Equipment. Forklifts, cranes, and hoists are essential in handling heavy materials and equipment in construction sites and manufacturing plants. The demand for material handling solutions is closely tied to construction projects, production activities, and the need for efficient material movement within industrial facilities.
Automation and technological advancements in material handling equipment contribute to the market dynamics, allowing for the development of systems with improved efficiency, accuracy, and safety features. Innovations in sensors, robotics, and connectivity enable the integration of smart and autonomous material handling solutions. Manufacturers in the Material Handling Equipment market continually invest in research and development to provide cutting-edge solutions that align with the increasing demand for automation in various industries.
Supply chain dynamics play a crucial role in the Material Handling Equipment market, influenced by factors such as globalization, supply chain optimization, and the need for just-in-time delivery. Material handling equipment is integral to creating agile and responsive supply chain operations, reducing lead times, and minimizing bottlenecks. The market is sensitive to changes in global trade patterns, transportation costs, and the need for efficient logistics.
Global trade dynamics are significant in the Material Handling Equipment market, with many countries involved in both the production and consumption of material handling products. Trade agreements, tariffs, and regional economic conditions can impact the flow of material handling equipment across borders. The market is also influenced by competition among manufacturers to offer innovative solutions with enhanced features, automation capabilities, and adaptability to diverse industry requirements.
Regulatory standards and safety considerations play a vital role in shaping the market dynamics of Material Handling Equipment. Local and international regulations set guidelines for the design, manufacturing, and operation of material handling equipment to ensure workplace safety. Compliance with these standards is crucial for manufacturers to meet the requirements of industries and maintain a safe working environment.
Environmental considerations are increasingly shaping the market dynamics of Material Handling Equipment. As sustainability becomes a global concern, manufacturers are exploring energy-efficient technologies, eco-friendly materials, and recycling initiatives to reduce the environmental impact of material handling operations. Companies in the market are responding to the demand for greener solutions by incorporating sustainable practices into their manufacturing processes.
Price volatility is a common factor in the Material Handling Equipment market, driven by fluctuations in raw material prices, manufacturing costs, and market demand. Companies in this dynamic market must implement effective pricing strategies and risk management practices to navigate the uncertainties associated with price variations.
Material Handling Equipment Market Highlights:
Global Material Handling Equipment Market Overview
The Material Handling Equipment Market Size was valued at USD 2,16,946.9 Million in 2023. The Material Handling Equipment industry is projected to grow from USD 2,27,468.8 Million in 2024 to USD 3,37,998.7 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 5.07% during the forecast period (2024 - 2032). This market has undergone a technological boom, from conveyor belts to driverless forklifts. As the usage of robots grows, more automation will be used across the supply chain. This automation will significantly influence many parts of the supply chain, including personnel and warehouse management strategies as well as quick processing. Hence, the rising process automation further contributes to the material handling equipment market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Material Handling Equipment Market Trends
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Increasing E-Commerce and Logistics Industries to Bolster the Market.
Customization is at an all-time high as online shopping happens at a quicker rate than ever before. Customized systems and mining equipment will become more common, assisting the industry's growth even though a slight drop in demand in industrial use cases in 2020 and enormous development in the e-commerce market have aided the MHE industry's growth despite the pandemic. During the worldwide lockdowns, there was a healthy demand for grocery delivery and distribution, giving manufacturers higher expectations.
Additionally, the e-commerce industry is flourishing worldwide, which necessitates a lot of automation. Amazon, Walmart, and other large retailers are gradually introducing automated technology into their operations to make them more precise, efficient, secure, and cost-effective. Apart from that, the improvement of the manufacturing industry is a major factor in developing the market of material handling equipment.
Material Handling Equipment Market Segment Insights
Material Handling Equipment Type Insights
The Material Handling Equipment market segmentation, based on Type, includes transport equipment, positioning equipment, storage equipment, and others (unit load formation equipment, identification, and control equipment. The transport equipment segment is anticipated to hold the highest CAGR during the forecast period. It is owing to its utilization of transferring material from one site to another (for example, from a loading dock to a storage facility). This type of equipment is used to handle material in a single spot. Conveyors, cranes, industrial trucks & others (hoppers, reclaimers) are some of the major pieces of equipment that are being widely used across various industries.
Material Handling Equipment Industry Insights
Based on Industry, the Material Handling Equipment market segmentation includes automotive, consumer goods & electronics, pharmaceuticals, food & beverages, mining, construction, semiconductors, and others. The construction industry is booming due to significant building and restructuring initiatives in both developed and emerging economies. Furthermore, government initiatives for infrastructure development and enormous investment in the real estate industry are helping to drive the market ahead.
Figure 2: Material Handling Equipment Market, by Type, 2023 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Material Handling Equipment Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. the Asia-pacific region is expected to dominate the overall growth of the material handling equipment industry with a healthy CAGR of 9.7% during the forecast period. This is due to the increasing demand in the automotive, manufacturing, and other significant end-user industries. The countries such as South Korea, China, and Taiwan are increasingly adopting modern material handling methods in recent years to cater to the increasing production services.
Figure 3: MATERIAL HANDLING EQUIPMENT MARKET SHARE BY REGION 2023 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
North America is also expected to have substantial growth in material handling equipment which is due to the increasing sales across the region due to the e-commerce industry. The increasing growth of durable and non-durable goods is propelling the overall growth of the material-handling equipment industry. Moreover, North America is adopting automated warehouse practices across the region is fuelling the overall growth of the material handling equipment industry.
Material Handling Equipment Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Material Handling Equipment market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Material Handling Equipment industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Material Handling Equipment. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Material Handling Equipment industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Material Handling Equipment industry to benefit customers and expand the market sector. The Material Handling Equipment market has recently given medicine some of the most important advantages. Major Material Handling Equipment market players, including Liebherr Group (Switzerland), KION Group AG (Germany), Jungheinrich AG (Germany), and others, are attempting to increase market demand by funding R&D initiatives.
Liebherr Group (also known as Liebherr-International Deutschland) is a company that manufactures construction and mining equipment. It offers earthmoving machinery and material handlers, cranes, aerospace and transportation systems, machine tools, automation systems, and other machinery. The company also provides renting construction machines, fleet management systems, procurement, and logistics services.
Also, KION Group is a company that manufactures material handling equipment. Its products include industrial trucks, forklifts, towing vehicles, conveyors, sorters, palletizers, etc. The company offers maintenance and supply chain solutions to e-commerce, third-party logistics, and supermarkets.
List of the Key Companies in the Material Handling Equipment market include
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Liebherr Group (Switzerland)
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KION Group AG (Germany)
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Jungheinrich AG (Germany)
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Viastore Systems GmbH (Germany)
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Eisenmann AG (Germany)
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Columbus McKinnon Corporation (U.S.)
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Crown Equipment Corporation (U.S.)
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Hytrol Conveyor Co., Inc. (U.S.)
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Xuzhou Heavy Machinery Co., Ltd. (China)
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Toyota Industries Corporation (Japan).
Material Handling Equipment Industry Developments
March 2022, Toyota Industries announced the acquisition of via store, a Germany-Based logistics system integrator, to strengthen the materials handling equipment and software business.
September 2023: Daifuku Acquires Wynright Corporation to Expand North American Presence: Daifuku, a leading global provider of material handling solutions, acquired Wynright Corporation, a leading provider of intelligent material handling systems in North America. The acquisition will expand Daifuku's presence in North America and strengthen its position as a leading provider of material handling solutions worldwide.
September 2023: Crown Equipment Introduces New Forklift with Enhanced Safety Features: Crown Equipment Corporation, one of the world's largest material handling companies, introduced a new forklift with enhanced safety features. The new forklift is designed to help prevent accidents and injuries, and is equipped with a variety of innovative safety technologies.
Material Handling Equipment Market Segmentation
Material Handling Equipment Type Outlook
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Transport Equipment
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Positioning Equipment
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Storage Equipment
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Others
Material Handling Equipment Industry Outlook
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Consumer Goods & Electronics
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Automotive
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Food & Beverages
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Pharmaceutical
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Construction
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Mining
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Semiconductors
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Others
Material Handling Equipment Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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