The material handling equipment market was estimated at around US$ 227.9 Billion in 2022, and it is anticipated to increase at a growth rate of 6% from 2022 to 2032. Over the course of the projected period, the market expansion is anticipated to be driven by industrial growth and the rising need for mechanization and robotics in material handling systems and is likely to flourish, garnering US$ 408.13 Billion by the end of 2033.

The expansion of private investment in industrial machinery and equipment points to a generally robust U.S. economy, which is anticipated to spur activity in the major downstream markets for U.S. industry, like manufacturing and wholesaling. As a result, a rise in investments in industrial machinery and equipment is likely to be correlated with an increase in demand for commercial goods like material handling equipment. The market is anticipated to grow more quickly as a result of rising demands for successfully handling bulk materials, improved worker safety awareness, and industry 4.0's increased usage of the Internet of Things. The demand for less downtime and the emphasis on increasing supply chain efficiency are predicted to drive the market for this product.

Industrial facilities in industrialised nations have become totally automated as a result of rising automation adoption and continued technological advancements in the industry. It is projected that the increasing modernisation of industrial infrastructures and facilities would fuel the market for material handling equipment growth.

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Segmentation

By the end of the year 2021, the cranes and lifting equipment market category had the lion's share, with over 35% of the revenue generated globally. Industrial pallet trucks are mostly preferred by manufacturers because they include characteristics like a level surface or prongs that can be put beneath pallets or other types of storage platforms that are useful. As much different equipment must be utilized for lifting with other platform trucks and industrial vehicles, so the other sub-segments are also anticipated to contribute equally to the growth and development of the target market.

On the other hand, as pallet stacker equipment aids in expanding storage capacity, the racking and storage equipment market segment is anticipated to grow at a higher CAGR of 6.8% through the projected period. The expense saved due to not needing to rent more storage space, along with the decreased workload and the improved throughput, are additional benefits that may be quantified for the growing popularity of the electric stacker sub-segment.

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Companies

• 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.
• Material Han

Key Segments Covered in the Material Handling Equipment Industry Report

Material Handling Equipment Industry by Product Type

• Cranes and Lifting Equipment
• Racking & Storage Equipment
• Industrial Trucks
• Continuous Handling Equipment

Material Handling Equipment Industry by Application

• eCommerce
• Automotive
• Food & Beverages
• Chemical
• Semiconductor & Electronics
• Aviation
• Pharmaceutical
• Others

Material Handling Equipment Industry by Region

• North America Material Handling Equipment Industry
• Europe Material Handling Equipment Industry
• East Asia Material Handling Equipment Industry
• South Asia and Pacific Material Handling Equipment Industry
• Middle East & Africa Material Handling Equipment Industry
• South America Material Handling Equipment Industry

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FAQ's

What is the Fastest Growing Region for Material Handling Equipment Market?