The Global Material Handling Equipment Market was estimated to be worth USD 206.59 billion in 2022. It is projected to reach USD 319.69 billion by 2030, with a compound annual growth rate (CAGR) of 5.6% during the forecast period from 2023 to 2030.
Material handling equipment plays a crucial role in various industries, facilitating the movement, storage, control, and protection of materials and products. As businesses strive for efficiency and productivity, the demand for advanced material handling solutions continues to rise.
With the increasing adoption of automation and technological advancements, the material handling equipment market is poised for substantial growth. Factors such as the need for streamlined operations, improved safety measures, and cost-effective solutions are driving the market's expansion.
The Asia-Pacific region is expected to dominate the material handling equipment market during the forecast period. Rapid industrialization, urbanization, and the presence of key manufacturing hubs contribute to the region's significant market share. Additionally, the rising e-commerce sector and the need for efficient logistics and warehousing solutions further fuel the demand for material handling equipment.
North America and Europe are also witnessing substantial growth in the material handling equipment market. The presence of established industries, stringent safety regulations, and the focus on sustainable practices are key factors driving market growth in these regions.
Key players in the material handling equipment market are continuously investing in research and development to introduce innovative products and solutions. Collaborations, mergers, and acquisitions are also prevalent strategies adopted by market players to expand their market presence and cater to evolving customer demands.
In conclusion, the global material handling equipment market is poised for significant growth in the coming years. The increasing need for efficient and automated solutions, coupled with the rise of industries and e-commerce, drives the demand for material handling equipment. Market players are actively investing in research and development to stay competitive and meet the evolving needs of customers.
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KEY MARKET SEGMENTATION
By Product
- Cranes & Lifting Equipment
- Industrial Trucks
- Continuous Handling Equipment
- Racking & Storage Equipment
By Application
- Automotive
- Food & Beverages
- Chemical
- Semiconductor & Electronics
- E-commerce
- Aviation
- Pharmaceutical
- Others
DRIVERS
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The demand for MHE has increased as a result of the e-commerce industry's quick expansion, particularly for the sorting, packaging, and order fulfilment procedures in warehouses and distribution centres.
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The necessity for MHE to move items between different sites is increasing as businesses broaden their worldwide supply chain networks, which raises the price of this equipment. To optimise processes and cut waste, modern production techniques like 3D printing and lean manufacturing need effective material handling systems.
OPPORTUNITY
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Customization and specialisation businesses can provide MHE solutions that are specifically adapted to the needs of a given industry, opening up market niches.
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Services for renting and leasing For companies with tight budgets, renting or leasing MHE equipment offers cost-effective choices.
Key Players
The major key players, BEUMER GROUP, Daifuku Co., Ltd., Honeywell International, Inc., KION GROUP AG, Mecalux, S.A, Murata Manufacturing Co., Ltd., SSI SCHAEFER, Swisslog Holding AG, TOYOTA INDUSTRIES CORPORATION, Vanderlande Industries B.V., are and others.
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Table of Contents
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- Value Chain Analysis
- Porter’s 5 forces model
- PEST Analysis
- Material handling equipment market Segmentation,By Product
- Material handling equipment market Segmentation,By Application
- Regional Analysis
- Company Profile
- Competitive Landscape
- USE Cases and Best Practices
- Conclusion
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