Material Handling Equipment Market Projected To Draw Healthy Growth; Asserts MRFR Unleashing the Forecast for 2017-2023

 The material handling equipment market witnesses rapid growth globally. Factors such as the increasing automation across manufacturing industries and increasing pressure to reduce resources and energy drive the market growth. Advances in technology and manufacturing plant upgrades are playing a causal role in the market progress. Moreover, the spurring rise in manufacturing sectors worldwide escalates the growth of the market. 

According to Market Research Future (MRFR), the global material handling equipment market is expected to register approximately 7.5% CAGR during the assessment period (2019 -2025). Material handling equipment is crucial for improved industrial operations, such as the movement, storage, protection, and distribution of goods. Resultantly, material handling equipment is extensively used across the burgeoning industries, such as the automotive, e-commerce, food & beverages, and metal & heavy machinery.

Additionally, augmenting uptake and demand for unit load material worldwide accelerate the market increase. This, as a result, also encourages manufacturers to bring more novelties increasing the market size. Substantial R&D investments in product development foster the equipment industry, bringing about advanced material handling equipment. Furthermore, the burgeoning eCommerce industry and rising numbers of shipment companies boost uptake and market sales. 

Also, increasing uses of material handling equipment in various application areas across the manufacturing sectors influence market growth. The increasing demand for energy-efficient material handling instruments and quadrupling supply chains provides impetus to market growth. Conversely, high capital investment is the major factor projected to impede the market growth. 

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Global Material Handling Equipment Market   - Segments

The report is segmented into four dynamics; 

By Operation     : Assembly, Transportation, Packaging, Distribution, and others. 

By System Type                : Bulk Load Material Handling System, Unit Load Material Handling System, and others. 

By Application  : Automotive, E-Commerce, Food & Beverages, Metal & Heavy Machinery, and others.

By Regions                          :  Europe, Americas, APAC, and Rest-of-the-World.

Global Material Handling Equipment Market - Regional Analysis

The Asia Pacific region dominates the global material handling equipment market. The largest market share attributes to the booming industrial sector in the region. Besides, rising safety concerns at workplaces and industrial set-ups drive the growth of the regional market. Moreover, the spurting rise in the major end-user industries such as automotive, food & beverage, and metal & heavy industries substantiates market demand. 

The burgeoning e-commerce industry in the region influences the market growth, creating the demand for efficient distribution and sorting applications. The improving economy fosters the growth of the market, increasing numbers of production plants across the region. India and China account for considerable shares in the regional market, witnessing exponential growth. The APAC material handling equipment market is projected to retain its dominance throughout the assessment period.

North America stands second in the global material handling equipment market. The wide adoption of advanced technology drives the market growth for the material handling process. Additionally, the high penetration of material handling equipment in application areas such as eCommerce, automotive, food & beverages, metal & heavy machinery, and others drives the regional market growth. 

Also, the strong presence of notable industry players in the region positively impacts the market's growth. Moreover, the well-developed economy and the high per capita disposable income of demographics substantiate the regional market growth. The US & Canada account for the largest share, providing an enormous impetus to the regional market growth. The material handling equipment market in the North American region is projected to create a substantial revenue pocket during the forecast period. 

Europe possesses a sizable share in the global material handling equipment market. Factors such as the augmented demand from the rapidly growing end-use industries boost the market growth. Germany, Italy, and France are key markets for material handling equipment, expanding the regional market growth. The European material handling equipment market is expected to increase at a steady growth rate during the review period. 

Material Handling Equipment Market   - Competitive Analysis 

Highly competitive, the material handling equipment market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, product launch, and expansion. 

Major Players:

Players leading the material handling equipment market include KION Group AG (Germany), Liebherr Group (Switzerland), Jungheinrich AG (Germany), Eisenmann AG (Germany), Viastore Systems GmbH (Germany), Columbus McKinnon Corporation (US), Hytrol Conveyor Co., Inc. (US), Crown Equipment Corporation (US), Xuzhou Heavy Machinery Co., Ltd. (China), and Toyota Industries Corporation (Japan), among others.

Industry/ Innovation/ Related News: 

Major Players:

Players leading the material handling equipment market include KION Group AG (Germany), Liebherr Group (Switzerland), Jungheinrich AG (Germany), Eisenmann AG (Germany), Viastore Systems GmbH (Germany), Columbus McKinnon Corporation (US), Hytrol Conveyor Co., Inc. (US), Crown Equipment Corporation (US), Xuzhou Heavy Machinery Co., Ltd. (China), and Toyota Industries Corporation (Japan), among others.

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Industry/ Innovation/ Related News: 

November 05, 2020 ---- Phoenix Lighting (the US), a leading global provider of heavy-duty LED lighting products and responsive customer services, announced joining the MHEDA (Material Handling Equipment Distributors Association). MHEDA is the key trade association dedicated to serving the material handling community. Phoenix Lighting would bring industry expertise in loading dock lighting that maximizes loading dock safety and productivity. 

MHEDA programs and services are accessed by various industry professionals, who are seeking to help their business stay competitive, and their employees stay connected. MHEDA is solely dedicated to improving the independent material handling distributor's proficiency, representing around 650 companies in the material handling equipment business.

Company name: Market Research Future

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:

Market Research Future

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Magarpatta Road, Hadapsar,

Pune - 411028

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+1 646 845 9312

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