Asia Pacific Material Handling Equipment Market Size & Share 2023 to 2032
Market Size by Demand (New, Aftermarket), by Product (Industrial Trucks, Robotics, Automated Storage & Retrieval System), by Application (3PL, E-Commerce, General Merchandise), Sales Channel & Forecast.
Report ID: GMI3107
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Published Date: August 2023
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Report Format: PDF
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Authors:
Avinash Singh, Sunita Singh
Asia Pacific Material Handling Equipment Market Size
Asia Pacific Material Handling Equipment Market size is slated to register over 7% CAGR between 2023 and 2032, owing to the surging adoption of personalized automated guided vehicles (AGVs) in developing countries, such as China.
Asia Pacific Material Handling Equipment Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
The significant advances in the manufacturing and logistics industries have steered the higher need for automation solutions to improve efficiency, limit labor costs, and optimize material handling processes across factories and warehouses. The increasing labor costs have prompted several companies to look for AGVs for performing repetitive tasks without breaks and fatigue, leading to improved productivity and declined dependence on human labor. The growing demand for AGVs for managing the complex logistics as well as warehousing needs, including inventory management, order picking, and order fulfillment will add to market growth.
Asia Pacific Material Handling Equipment Market Growth Drivers and Restraints
The rising rate of domestic air transport along with the surging number of investments are other factors influencing the industry expansion. According to the Ministry of Tourism, India received 677.63 million domestic tourist visits in 2021. Moreover, the surging need for skilled workforce to cater to the increasing number of repair and maintenance activities may slow down the demand for material handling equipment in the region to some extent.
COVID-19 Impact
The COVID-19 pandemic negatively impacted the demand for material handling equipment in APAC led by factory closures and transportation restrictions in several areas, bringing delays in manufacturing and hindering the availability of essential components. The hampered manufacturing and logistics operations also added to limited product manufacturing and distribution. However, the surging adoption of material handling equipment in the e-commerce sector for supporting the heightened activities related to online shopping and delivery influenced the market expansion.
Asia Pacific Material Handling Equipment Market Trends
The growing popularity of electric material handling equipment in several industries to offer minimized emissions, reduced noise pollution, enhanced efficiency, and potentially low operating costs over time will supplement the market growth. Electric forklifts, order pickers, reach trucks, and pallet jacks are increasingly deployed in warehousing and distribution centers to move goods, manage inventory as well as load and unload trucks. Rising application scope in manufacturing facilities, ports and terminals, airports, retail stores, construction sites, food & beverage, mining, automotive manufacturing, healthcare facilities, and agriculture industries will also drive the product uptake.
Asia Pacific Material Handling Equipment Market Analysis
Asia Pacific material handling equipment market from the aftermarket segment will expand at over 5% CAGR from 2023 to 2032. The growth can be attributed to the surging need to replace outdated parts with modern components with advanced features, lifetime as well as efficiency. Significant advancements in technology along with changes in operational requirements in APAC have prompted the upgradation and retrofitting of existing material handling equipment, thereby limiting investments in new machinery. The increasing emphasis on ensuring the longevity and reliability of the essential tools will also contribute to the market expansion.
Asia Pacific material handling equipment market from the e-commerce segment is estimated to observe about 10% gains up to 2032, propelled by the rising internet penetration and higher adoption of conveying solutions. The presence of well-established customer base in online shopping, mainly in India and China have pushed multiple e-commerce players to deploy advanced as well as automated material equipment for speeding up their operations. The growing popularity of new e-commerce websites to allow customers to rent from diverse range of equipment will also contribute to the market growth.
China material handling equipment market size is poised to witness substantial expansion through 2032, on account of the strong presence of well-established manufacturing, automotive, and e-commerce sectors in the country. The rapid rate of urbanization has made way for multiple challenges in city logistics, pushing the demand for material handling equipment for navigating narrow streets and efficiently delivering goods in urban areas. The higher integration of automation and robotics, including robotic arms, AGVs, and conveyor systems for optimizing the warehouse operations will also define the regional industry development.
Asia Pacific Material Handling Equipment Market Share
Some of the leading companies operating in the Asia Pacific material handling equipment market include
Asia Pacific Material Handling Equipment Industry News
This market research report on Asia Pacific material handling equipment includes in-depth coverage of the industry with estimates & forecast in terms of volume in million tons & revenue in USD million from 2023 to 2032 for the following segments:
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By Demand
By Product
By Application
By Sales Channel
By Region
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
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Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
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Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →