Material Handling Equipment Market (By Product: Storage and Handling Equipment, Automated Storage and Retrieval System, Industrial Trucks, Bulk Material Handling Equipment, Others; By End Use: Automotive, Food & Beverages, Chemical, Semiconductor & Electronics, E-commerce, Aviation, Pharmaceutical, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023 - 2032
The global material handling equipment market was estimated at USD 209 billion in 2022 and is expected to reach USD 369.01 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 5.90% during the forecast period 2023 to 2032.
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The Asia Pacific material handling equipment market size accounted for USD 75.24 billion in 2022 and is projected to hit USD 131.59 billion by 2032, growing at a CAGR of 5.80% between 2023 to 2032.
Europe is expected grow significantly over the forecast period. It's due to the employment of innovative products to support the region's large-scale industrial presence. Europe has a diverse range of industries, from food and beverage to electronics manufacturing, all of which offer sales opportunities. Furthermore, the e-commerce sector led by same-day delivery models has contributed remarkably towards market growth. For instance, On 14th October 2021, LogsticaCarosan, a Spanish storage and transportation company, has stated that it has rebuilt its Talavera de la Reina (Spain) facility in order to improve customer service. The company will adopt Mecalux's Easy WMS warehouse management system to streamline all of its logistical procedures. The technology will allow LogsticaCarosan to keep a close eye on its clients’ entire inventory.
Asia Pacific region is also estimated to grow significantly over the forecast period and it has witnessed a CAGR growth of 9.8% in 2022. It is because the developing economies has provided ample opportunities, subsequently helping OEMs reach broader end user markets. Moreover, the rapid growth of the ecommerce industry in this region is anticipated to boost the market growth.
The surge in investments for the development of power and battery technology will foster the market growth. Apart from that, favorable government initiatives worldwide encourage new infrastructure development, resulting in growth prospects in the material handling equipment market over the forecast period.
The developing economies such as India and China attract foreign investments promoting infrastructure and industrial development; this is expected to drive the market growth. Also, the development of public infrastructure such as rail networks, airports, seaports and power plants, and others are estimated to foster the market growth.
The development of Belt and Road Initiative (BRI) by China is anticipated to create lucrative opportunities that will fuel the growth of the materials handling equipment market. This initiative focuses on connecting a network of rail and road routes from China to Europe via the Middle East.
The material Handling Equipment Market has benefited greatly from the rapid rise of the ecommerce industry. Furthermore, in reaction to the COVID-19 epidemic, the imposition of social distance rules, lockdowns, and other measures has prompted consumers to turn to internet shopping, which has helped market growth.
The increase in labor cost and safety concerns has led many industries to choose the equipment’s in order to improve work efficiency and time reduction and this factor will foster the market growth. Also, with the enhancement of technology there will be demand for automation and productivity and this will trigger the market growth. Furthermore, the increasing requirement for efficient material movement necessitates automated processes, which is expected to fuel market growth.
| Report Highlights | Details |
| Market Size | USD 369.01 Billion by 2032 |
| Growth Rate | CAGR of 5.90% from 2023 to 2032 |
| Largest Market | Europe |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Product, End User, Region |
| Companies Mentioned | BEUMER Group; Daifuku Co., Ltd.; Honeywell International Inc.; Kion Group AG; Mecalux, S.A; Murata Machinery Ltd.; SSI Schaefer AG; Swisslog Holding AG; Toyota Material Handling Group; and Vanderlande Industries B.V. |
Based on the product, the industrial trucks product segment is expected to lead the market with largest market share of over 30.5% in 2022. These trucks are a desirable choice due to their wide area of application in an industrial setting. The transportation of heavy containers or crates in several end use markets is undertaken using industrial trucks and this attribute accelerates the market growth. As the logistics industries are shifting towards sustainable products, the demand for battery-operated trucks will be surged over the forecast period. For instance, On 8th July 2021, KION Group AG has announced that manufacture of forklift trucks would begin near the German-Polish border in order to balance equipment for all KION Industrial Trucks &Services brand firms. The goal of this initiative is to increase the level of automation and digitization at these locations.
The automated storage and retrieval system segment accounted for a remarkable revenue share of 28.4% in 2022 and is expected to grow at a CAGR of 8.1% during the forecast periodowing to the COVID-19 pandemic's implementation of social distancing standards During this time, these systems were preferred because they emphasized efficiency and corresponded with social distancing norms. Also, during the projection period, the investments in automated equipment will surge which is anticipated to create lucrative opportunities that will drive the growth of the material handling equipment market.
Based on the End use, the Material Handling Equipment Market is divided into Automotive, Food & Beverages, Chemical, Semiconductor & Electronics, E-commerce, Aviation, Pharmaceutical and Others. The e-commerce sector will dominate the market with a revenue share of 23.4% in 2022 and is estimated to grow significantly during the forecast period. During the lockdown limitations, an unforeseen need for distribution and transportation of basic supplies, particularly groceries, fueled market expansion. The impact of the coronavirus will not be a short-term boost to the market; rather, it will have a long-term impact on industrial demand, offering enormous prospects for material handling equipment vendors. It is also estimated the revenue share of ecommerce sector will cross USD 10.5 billion by 2032.
The retail sector has always offered massive profit opportunities, and this trend is expected to continue in the future. The convenience of online shopping has encouraged retailers to build micro-fulfillment centres that allow for quick product deliveries, and this attribute will boost the growth of material handling equipment market. For instance, On 28th September 2021, The Italian Calzedonia Group, a prominent player in worldwide fashion retail marketplaces, has chosen BEUMER Group, a leading global producer of automated material handling systems. to put its pouch-making technology to work Calzedonia Group has seen a rapid expansion in its Direct to Consumer (DTC) business as a result of the boom in e-commerce, and it needed to improve its dispatch operations to account for this growth while improving efficiency and customer service.
The automotive segment dominated remarkable revenue share in 2022. This segment is accounted for more than USD 5.2 billion by 2032.
Key Companies Profiled
The global material handling equipment market is characterized by the presence of various small and big players. The major market player includes BEUMER Group; Daifuku Co., Ltd.; Honeywell International Inc.; Kion Group AG; Mecalux, S.A; Murata Machinery Ltd.; SSI Schaefer AG; Swisslog Holding AG; Toyota Material Handling Group; and Vanderlande Industries B.V. As the market is competitive in nature, the players are indulged in rapid adoption of advanced technologies to improve the material handling operationsand in raising their competitive share by means of strategic initiatives like mergers, new product and acquisitions.
Segments Covered in the Report
By Product
By End Use
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Material Handling Equipment Market
5.1. COVID-19 Landscape: Material Handling Equipment Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Material Handling Equipment Market, By Product
8.1. Material Handling Equipment Market, by Product Type, 2023-2032
8.1.1. Storage and Handling Equipment
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Automated Storage and Retrieval System
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Industrial Trucks
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Bulk Material Handling Equipment
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Material Handling Equipment Market, By End Use
9.1. Material Handling Equipment Market, by End Use, 2023-2032
9.1.1. Automotive
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Food & Beverages
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Chemical
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Semiconductor & Electronics
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. E-commerce
9.1.5.1. Market Revenue and Forecast (2020-2032)
9.1.6. Aviation
9.1.6.1. Market Revenue and Forecast (2020-2032)
9.1.7. Pharmaceutical
9.1.7.1. Market Revenue and Forecast (2020-2032)
9.1.8. Others
9.1.8.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Material Handling Equipment Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.2. Market Revenue and Forecast, by End Use (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.3.2. Market Revenue and Forecast, by End Use (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.4.2. Market Revenue and Forecast, by End Use (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.2. Market Revenue and Forecast, by End Use (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.3.2. Market Revenue and Forecast, by End Use (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.4.2. Market Revenue and Forecast, by End Use (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.5.2. Market Revenue and Forecast, by End Use (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.6.2. Market Revenue and Forecast, by End Use (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.2. Market Revenue and Forecast, by End Use (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.3.2. Market Revenue and Forecast, by End Use (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.4.2. Market Revenue and Forecast, by End Use (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.5.2. Market Revenue and Forecast, by End Use (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.6.2. Market Revenue and Forecast, by End Use (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.2. Market Revenue and Forecast, by End Use (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.3.2. Market Revenue and Forecast, by End Use (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.4.2. Market Revenue and Forecast, by End Use (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.5.2. Market Revenue and Forecast, by End Use (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.6.2. Market Revenue and Forecast, by End Use (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.2. Market Revenue and Forecast, by End Use (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.3.2. Market Revenue and Forecast, by End Use (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.4.2. Market Revenue and Forecast, by End Use (2020-2032)
Chapter 11. Company Profiles
11.1. BEUMER Group
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Daifuku Co., Ltd.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Honeywell International Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Kion Group AG
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Mecalux, S.A
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Murata Machinery Ltd.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. SSI Schaefer AG
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Swisslog Holding AG
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Toyota Material Handling Group
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Vanderlande Industries B.V.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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