Home > Industrial Machinery > Material Handling Equipment > Bulk Material Handling Equipment Market
Bulk Material Handling Equipment Market Size
- Report ID: GMI8188
- Published Date: Feb 2024
- Report Format: PDF
Bulk Material Handling Equipment Market Size
Bulk Material Handling Equipment Market was valued at USD 46.5 billion in 2023 and is estimated to register a CAGR of over 4.5% between 2024 & 2032. The industry is driven by the exponential growth of e-commerce and logistics, necessitating efficient handling of goods in warehouses and fulfillment centers. The surge in online shopping has led to an increase in order volumes. Bulk material handling equipment play a pivotal role in automating the movement of goods, reducing manual labor, and expediting order fulfillment processes. To meet the growing demand for bulk material handling equipment from e-commerce & logistics industry manufacturers are launching products in the market.
For instance, in November 2021, ePicker introduced a specialized range of material handling equipment for e-commerce, featuring electric pallet jacks, stackers, work assist vehicles, and lithium forklifts. This elite line aims to optimize handling tasks, prioritizing safety, efficiency, and quality across industries.
The adoption of automation and Industry 4.0 has transformed manufacturing processes, leading to emphasis on automation and smart technologies. Bulk material handling equipment, such as conveyors, sorters, and stackers, streamline material flow within manufacturing facilities. Optimizing material handling processes results in reduced downtime, improved throughput, and overall operational excellence. Bulk material handling equipment automates and accelerates material transport, reducing manual labor requirements and minimizing the risk of errors. Increasing manufactures focus on enhancing operational efficiency is expected to grow the market.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Bulk Material Handling Equipment Market Size in 2023: | 46.5 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 4.5% |
| 2032 Value Projection: | 71.1 Billion |
| Historical Data for: | 2018 - 2023 |
| No. of Pages: | 220 |
| Tables, Charts & Figures: | 280 |
| Segments covered: | Product, Application, and Sales Channel |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
High maintenance and operating costs pose a significant challenge for the bulk material handling equipment industry expansion. Complex machinery and harsh operating environments lead to substantial maintenance expenses including repair, replacement, and downtime costs. Energy consumption and labor expenses also contribute to the overall operating costs, impacting the profitability of material handling operations and deterring potential buyers from investing in new equipment.
Frequently Asked Questions (FAQ) :
Bulk Material Handling Equipment Market Scope
