What Has Been the Progress and Growth of the Material Handling Equipment Market Market in Recent Years?
The material handling equipment market market has seen considerable growth due to a variety of factors.
•The market size of material handling equipment has seen significant growth in the recent past. Its value is projected to increase from $205.25 billion in 2024 to $219.29 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.8%.
Factors contributing to this growth during the historic period include the expansion of e-commerce and manufacturing sectors, optimization of the global supply chain, automation in warehouses, and increased activities in ports and terminals.
What Can Be Expected from the Material Handling Equipment Market Market in the Coming Years?
The material handling equipment market market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are robust for the material handling equipment market in the coming years, with a predicted growth to "$289.51 billion by 2029 at a compound annual growth rate (CAGR) of 7.2%.
The surge during the predicted era can be linked to the development of e-commerce logistics, adoption of environmentally conscious and sustainable methods, global shifts in manufacturing, an increase in last-mile delivery requirements, and the incorporation of smart logistics. The forecast period will also witness key trends such as an increased focus on ergonomics for operator safety and comfort, personalization, and modular approaches in material handling systems, application of artificial intelligence for intelligent decision-making, the growth of autonomous material handling equipment, and a greater emphasis on safety technologies, including collision prevention.
What Are The Leading Drivers Of Growth In The Material Handling Equipment Market Market?
The growth of e-commerce industries is anticipated to fuel the expansion of the material handling equipment market. E-commerce, which involves buying and selling goods and services via the internet, is on the rise due to shifts in consumer preferences, increased convenience, and customized experiences. Automatic material handling equipment, which facilitates packaging, bulk material handling, and the management of the supply chain ecosystem, is a boon to businesses operating in industrial spaces. For example, the International Trade Administration (ITA), an agency of the U.S. government, reported in May 2024 that worldwide e-commerce revenue reached $3.6 trillion in 2023 and is expected to exceed $5.5 trillion by 2027, exhibiting a compound annual growth rate (CAGR) of 14.4%. Consequently, such an e-commerce surge is projected to stimulate the growth of the material handling equipment market.
How Are The Segments Defined Within The Global Material Handling Equipment Market Market?
The material handling equipment market market covered in this report is segmented –
1) By Type: Manufacturer, Distributor
2) By Product: Cranes and Lifting Equipment, Industrial Trucks, Continuous Handling Equipment, Racking and Storage Equipment
3) By End Users: Automotive, Food And Beverages, Chemical, Semiconductor And Electronics, E-commerce, Aviation, Pharmaceutical, Other End Users
Subsegments:
1) By Manufacturer: Equipment Manufacturers, Systems Integrators
2) By Distributor: Wholesale Distributors, Retail Distributors
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How Are New Trends Expected To Influence The Growth Of The Material Handling Equipment Market Market?
The emergence of technological advancements is a dominant trend gaining momentum in the material handling equipment industry. Leading businesses are focusing on manufacturing novel equipment technologies, such as electric material handling equipment, to solidify their market standing. For example, Linde Material Handling, a German company specializing in forklift trucks and warehouse equipment, launched electric heavy-duty forklift trucks in May 2022. These trucks have load capacities ranging from 10 to 18 tones. The innovative range, built based on the eight-ton model, is compact and features a double drive, two sets of lifting hydraulics, twin batteries, and calibrated pumps.
Who Are the Key Players in the Material Handling Equipment Market Market?
Major companies operating in the material handling equipment market market include:
• Beumer Group GmbH & Co. KG
• Daifuku Co. Ltd.
• KION Group AG
• Toyota Industries Corporation
• Honeywell International Inc.
• SSI Schäfer Group GmbH
• Jungheinrich AG
• Crown Equipment Corporation
• Hyster-Yale Materials Handling Inc.
• Mitsubishi Caterpillar Forklift America Inc.
• Mecalux S.A.
• Murata Manufacturing Co. Ltd.
• Liebherr Group
• Swisslog Holding AG
• Action Construction Equipment Ltd.
• TGW Logistics Group GmbH
• Viastore Systems GmbH
• WITRON Logistik + Informatik GmbH
• BHS Corrugated Maschinen- und Anlagenbau GmbH
• Cimcorp Automation Ltd.
• Columbus McKinnon Corporation
• Eisenmann SE
• Elettrric80 S.p.A.
• Hanel GmbH & Co. KG
• Hapman LLC
• Hytrol Conveyor Company Inc.
• ICM Airport Technics GmbH
• Intelligented Co. Ltd.
• Jervis B. Webb Company
• KITO Corporation
• KNAPP AG
What Is The Most Dominant Region In The Material Handling Equipment Market Market?
Asia-Pacific was the largest region in the material handling equipment market share in 2024. The regions covered in the material handling equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
