Material Handling Equipment Market

Material Handling Equipment Market by Product (Racking & Storage Equipment, Continuous Handling Equipment, Industrial Trucks, Bulk Material Handling Equipment, and Cranes & Lifting Equipment), Application (Pharmaceutical, Aviation, E-commerce, Semiconductor & Electronics, Chemical, Food & Beverages, Automotive, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030

  • Report ID: EP-4742
  • Author: Growth Market Reports
  • Rating: 4.7
  • Total Reviews: 2
  • No. Of Pages: 201
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The material handling equipment market size was around USD 213 billion in 2021 and is projected to reach USD 350 billion by 2030, expanding at a Compound Annual Growth Rate (CAGR) of 6% during the forecast period, 2022 – 2030. The growth of the market is attributed to the rising demand for automation in material handling equipment and rapid industrialization.

material handling equipment market by summary

Material handling equipment includes several tools, equipment, warehouses, vehicles, and accessories tangled in counting, calculation, control, storage, and transport of products at every stage of manufacture, disposal, or distribution. These devices enable the rapid transfer of bulky items and heavy materials. By automating a number of operations, material handling technology decreases the need for human intervention in industrial facilities.

The expansion of private investment in manufacturing and retailing goods & services indicates a robust U.S. economy, which is anticipated to boost activity in the country's main downstream markets. As a result, a rise in investment in industrial machinery and equipment is estimated to be correlated with an increase in the demand for goods used in the sector, including material handling equipment. Rising e-commerce and logistics industries are projected to fuel market growth in the coming years. Growth of the market is attributed to increasing industry 4.0 with high Internet of Things use, growing requirements for handling bulk materials efficiently, and increased worker safety awareness. The demand for less downtime and the emphasis on increasing supply chain efficiency is anticipated to propel the market. Increasing modernization of industrial infrastructures and facilities is expected to fuel market growth. The increasing use of online shopping platforms, the presence of large online retailers, and expanding logistics infrastructure are projected to contribute to the e-commerce application growth during the projected period. In order to effectively manage the supply chain ecosystem, this trend is forcing warehouse owners to include effective material handling equipment in their facilities.

COVID-19 Impact

The COVID-19 pandemic situation affected the global material handling equipment market negatively. The lockdown, social distancing policies, travel restrictions, and other stringent government regulations regarding the pandemic decreased the demand for handling equipment affecting the material handling equipment industry negatively. Key manufacturers such as Daifuku Co., Ltd., BEUMER GROUP, and Mecalux, S.A. announced the suspension of the production of material handling equipment, as the demand for the equipment decreased and the supply chain was broken. These key manufacturers halted production for employee safety in light of the pandemic situation. Manufacturers were compelled to cut down on investments in research and development as a result of the decline in capital liquidity, which hampered the introduction of new products incorporating novel technology and reduced the variety of products available. The global material handling equipment market is expected to recover in the coming years, as the stringent restrictions and regulations regarding the pandemic situation are getting slacked.

Market Dynamics

The market research report on the global material handling equipment market provides a detailed analysis by focusing on revenue growth, facts, figures, and historical data to determine major drivers, existing restraints, key opportunities, and competitive analysis. The report includes recent developments that can shape the overall performance of the market during the assessment period, 2022 to 2030.

Material handling equipment market by market dynamics

Major Drivers:

Rapid growth of the e-commerce sector to drive the market
The rapid growth of the global e-commerce sector, where consumers are buying more daily goods than ever before, is driving the material handling equipment market. For instance, the global online retail market generated USD 3.46 trillion in sales in 2019. The material handling equipment market is expected to be primarily driven by the growing popularity of online shopping. The industrial sectors and manufacturers are becoming more visible due to the customization of the machinery and the technologies that are integrated with the warehouse and supply chain ecologies. Moreover, the rising cost of labor in developed nations is boosting the material handling equipment market.

Existing Restraints:

High cost of installment to hinder the market growth
Rising initial investments and overall ownership costs are anticipated to hinder market growth. The costs associated with purchasing, integrating, programming, and installing material handling equipment are very high. Additionally, some of the factors limiting the growth of the material handling equipment market are the slow rate of return on investments and high maintenance costs. The high cost of replacement and customization of the software is one of the major factors impeding the market growth.

Key Opportunities:

Advancements and innovations in material handling equipment to create immense growth opportunities
A number of advancements and innovations in the material handling equipment sector are brought about by the increased investment by established market players in the material handling equipment market. Such aspects are motivating potential end users to utilize material handling equipment more frequently for their business growth. Several government programs are offering lucrative opportunities for the development of the material handling equipment market.

Scope of the Report

The report on the global material handling equipment market includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Material Handling Equipment Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2022 – 2030

Segmentation

Product (Racking & Storage Equipment, Continuous Handling Equipment, Industrial Trucks, Bulk Material Handling Equipment, and Cranes & Lifting Equipment), Application (Pharmaceutical, Aviation, E-commerce, Semiconductor & Electronics, Chemical, Food & Beverages, Automotive, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast

Key Players Covered in the Report

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.; Liebherr Group; Schaefer System International Ltd.; Jungheinrich AG; Godrej Group; Hyster-Yale Materials Handling, Inc.; Mitsubishi Caterpillar Forklift America, Inc.; Crown Equipment Corporation

Market Segment Insights

The cranes & lifting equipment segment accounted for a key market share in 2021

Based on product, the market is segregated into racking & storage equipment, continuous handling equipment, industrial trucks, bulk material handling equipment, and cranes & lifting equipment. The cranes & lifting equipment segment accounted for a market share of around 36% in 2021. Growth of the segment is attributed to its widespread application in several end-use industries such as lifting accessories, motor vehicle lifts, manufacturing, and construction. Traditional handling equipment is highly susceptible to picking errors, whereas continuous handling technology ensures error-free picking, sorting, and packaging. Another major factor driving the segment is the optimized operation of the equipment, which helps producers cut costs and accelerate delivery time.

The racking & storage equipment segment is anticipated to expand at a high CAGR during the forecast period owing to its increased storage capacity. Additional benefits include decreased workload, increased throughput, and cost savings from not needing to rent additional storage space. Industrial trucks are preferred by manufacturers because they include features such as flat prongs or surfaces that can be injected under pallets or other types of storage platforms that are useful.

material handling equipment market by products

The e-commerce segment held around 21% of the total market share in 2021

On the basis of applications, the market is fragmented into pharmaceutical, aviation, e-commerce, semiconductor & electronics, chemical, food & beverages, automotive, and others. The e-commerce segment held around 21% of the total market share in 2021. Factors such as expanding logistics infrastructure, the presence of significant online merchants, and expanded platform penetration are expected to boost the segment. Several grocery stores have transformed into convenience stores that offer services resembling fast food, including fresh items, ready-to-eat meals, and frozen food.

The pharmaceutical segment is projected to grow at a rapid pace during the forecast period. With the rise in the prevalence of different ailments, pharmaceutical storage and material handling equipment provides a means to fulfill the expanding need for medicines. These systems are set up to maximize safety, optimize product quality, and increase productivity, labor, waste, and overall expenditure.

Asia Pacific dominated the market in 2021

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific held around 40% of the total market share in 2021. The substantial adoption is ascribed to the expanding food retail industry in Asia-Pacific, which presents offers a number of opportunities due to its capacity to boost the effectiveness and speed of the picking and sorting procedures. The growth of the market in Europe is attributed to the adoption of integrated solutions built on the implementation of new legal reforms in the areas of quality and safety. The demand for material handling equipment from warehousing, ports, and manufacturing is mostly driven by automated and industrial truck categories. The rising usage of e-commerce technology boosted the demand for contemporary goods in warehouses, which prompted companies to provide high-quality goods. The emerging economies such as India and China attract foreign investments promoting infrastructure and industrial development this is projected to boost the market.

Additionally, the industry is expanding rapidly in China. The country is a manufacturing powerhouse in the equipment sector. China is projected to account for a key market share due to the immense opportunities for handling equipment manufacturers in the automobile production sector and the development of several industrial clusters in the country, which is driving the construction sector.

The market in North America is anticipated to expand at a rapid pace during the forecast period. Due to the COVID-19 pandemic the growth of the market initially slowed down, but it eventually picked up speed and developed steadily. The presence of key market players in the region is one of the major factors driving the market in the region. Indirect efforts of key organizations in terms of technological advancements, joint ventures, collaborations, acquisitions, and strategic alliances are further boosting the material handling equipment market. The market in Europe is estimated to expand at a substantial rate. The primary factor for rising demand is an effective, streamlined, and adaptable supply chain structure for better operations.

material handling equipment market by regions

Segments

The global material handling equipment market has been segmented on the basis of

Product

  • Racking & Storage Equipment
  • Continuous Handling Equipment
  • Industrial Trucks
  • Bulk Material Handling Equipment
  • Cranes & Lifting Equipment

Application

  • Pharmaceutical
  • Aviation
  • E-commerce
  • Semiconductor & Electronics
  • Chemical
  • Food & Beverages
  • Automotive
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

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.
  • Liebherr Group
  • Schaefer System International Ltd.
  • Jungheinrich AG
  • Godrej Group
  • Hyster-Yale Materials Handling, Inc.
  • Mitsubishi Caterpillar Forklift America, Inc.
  • Crown Equipment Corporation

Competitive Landscape

Key players competing in the material handling equipment market include 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.; Liebherr Group; Schaefer System International Ltd.; Jungheinrich AG; Godrej Group; Hyster-Yale Materials Handling, Inc.; Mitsubishi Caterpillar Forklift America, Inc.; Crown Equipment Corporation. Some of these major companies have adopted a series of business development strategies including mergers and acquisitions, entering into partnerships and collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share. For instance,

  • In December 2021, KION Group constructed a new forklift truck factory in China to provide a supply chain solution. This is equipped with a volume of over 140 million for Jinan's upcoming supply chain solutions and industrial vehicle production.
  • In April 2021, TOYOTA INDUSTRIES CORPORATION launched Mouse and Mole Automated Guided Carts. The product allows customers to automate operations that are repetitive and ideal for manufacturing facilities, distribution centers, assembly lines, and warehouses.
  • In April 2021, Godrej Material Handling, a division of the Godrej Group introduced the "Uno Electric Forklift Truck," which boasts modern ergonomics, improves visibility, high safety, and a long runtime on each charge.
  • In July 2020, HOMEPICK is a goods-to-person (GtP) picking system that was developed by Vanderlande Industries B.V., one of the companies that offer logistics process automation.

material handling equipment market by key players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Material Handling Equipment Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Material Handling Equipment Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Material Handling Equipment Market - Supply Chain
  4.5. Global Material Handling Equipment Market Forecast
     4.5.1. Material Handling Equipment Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Material Handling Equipment Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Material Handling Equipment Market Absolute $ Opportunity
5. Global Material Handling Equipment Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Material Handling Equipment Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Material Handling Equipment Demand Share Forecast, 2019-2026
6. North America Material Handling Equipment Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Material Handling Equipment Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Material Handling Equipment Demand Share Forecast, 2019-2026
7. Latin America Material Handling Equipment Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Material Handling Equipment Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Material Handling Equipment Demand Share Forecast, 2019-2026
8. Europe Material Handling Equipment Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Material Handling Equipment Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Material Handling Equipment Demand Share Forecast, 2019-2026
9. Asia Pacific Material Handling Equipment Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Material Handling Equipment Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Material Handling Equipment Demand Share Forecast, 2019-2026
10. Middle East & Africa Material Handling Equipment Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Material Handling Equipment Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Material Handling Equipment Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Material Handling Equipment Market: Market Share Analysis
  11.2. Material Handling Equipment Distributors and Customers
  11.3. Material Handling Equipment Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. BEUMER GROUP
     11.4.2. Daifuku Co., Ltd.
     11.4.3. Honeywell International, Inc.
     11.4.4. KION GROUP AG
     11.4.5. Mecalux, S.A.
     11.4.6. Murata Manufacturing Co., Ltd.
     11.4.7. SSI SCHAEFER
     11.4.8. S

The global material handling equipment market has been segmented on the basis of

Product

  • Racking & Storage Equipment
  • Continuous Handling Equipment
  • Industrial Trucks
  • Bulk Material Handling Equipment
  • Cranes & Lifting Equipment

Application

  • Pharmaceutical
  • Aviation
  • E-commerce
  • Semiconductor & Electronics
  • Chemical
  • Food & Beverages
  • Automotive
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

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.
  • Liebherr Group
  • Schaefer System International Ltd.
  • Jungheinrich AG
  • Godrej Group
  • Hyster-Yale Materials Handling, Inc.
  • Mitsubishi Caterpillar Forklift America, Inc.
  • Crown Equipment Corporation

Key players competing in the material handling equipment market include 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.; Liebherr Group; Schaefer System International Ltd.; Jungheinrich AG; Godrej Group; Hyster-Yale Materials Handling, Inc.; Mitsubishi Caterpillar Forklift America, Inc.; Crown Equipment Corporation. Some of these major companies have adopted a series of business development strategies including mergers and acquisitions, entering into partnerships and collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share. For instance,

  • In December 2021, KION Group constructed a new forklift truck factory in China to provide a supply chain solution. This is equipped with a volume of over 140 million for Jinan's upcoming supply chain solutions and industrial vehicle production.
  • In April 2021, TOYOTA INDUSTRIES CORPORATION launched Mouse and Mole Automated Guided Carts. The product allows customers to automate operations that are repetitive and ideal for manufacturing facilities, distribution centers, assembly lines, and warehouses.
  • In April 2021, Godrej Material Handling, a division of the Godrej Group introduced the "Uno Electric Forklift Truck," which boasts modern ergonomics, improves visibility, high safety, and a long runtime on each charge.
  • In July 2020, HOMEPICK is a goods-to-person (GtP) picking system that was developed by Vanderlande Industries B.V., one of the companies that offer logistics process automation.

material handling equipment market by key players

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FAQ Section

Some frequently asked quetions about this report!

Pharmaceuticals, aviation, e-commerce, semiconductor & electronics, chemical, food & beverages, automotive, and others are the applications of the material handling equipment market.

Racking & storage equipment, continuous handling equipment, industrial trucks, bulk material handling equipment, and cranes & lifting equipment are the products covered in the material handling equipment market report.

Product and application are the segments provided in the material handling equipment market report.

The material handling equipment market is anticipated to expand at a Compound Annual Growth Rate (CAGR) of 6% during the forecast period, 2022 – 2030.

The material handling equipment market is projected to reach USD 350 billion by 2030.

The material handling equipment market size was around USD 213 billion in 2021.

Vanderlande Industries B.V.; Liebherr Group; Schaefer System International Ltd.; Jungheinrich AG; Godrej Group; Hyster-Yale Materials Handling, Inc.; Mitsubishi Caterpillar Forklift America, Inc.; Crown Equipment Corporation are the leading players in the material handling equipment market.