Material Handling Equipment Market Size By Product (Storage & Handling Equipment, Industrial Trucks, Bulk Material Handling Equipment, Robotics, Automated Storage & Retrieval System), Application, Type & Global Forecast, 2023 - 2032

Industry Statistics

Material Handling Equipment Market size surpassed USD 140 billion in 2022 and is poised to register 5% CAGR during 2023 to 2032, owing to the increasing automation technology deployment and e-commerce shopping trends.
 

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Material handling systems are being customized to address changing customer needs. These systems are utilized in logistics worksites, where heavy labor forces are required for loading, unloading, and cargo transportation applications. The value and number of online sales are also on an upward trajectory. With the acceleration of online shopping trends, retailers are expected to expand their warehouse capacities. These factors will create strong demand for order picker forklifts and other material handling equipment in logistics to ensure fast delivery and efficient operations.
 

Consumers have gained awareness regarding the inconvenience of manual labor employment. This factor will promote automation technology and consequently drive the material handling equipment market growth. The technological advancement in technology and growing competition, the costs of forklifts are further said to rise, which may create roadblocks to industry growth to some extent.
 

Use of material storage & handling system in construction of warehousing facilities

The storage and handling equipment market is set to observe over 5% growth from 2023 to 2032. The ability to offer increased storage capacity and improved inventory control at low labor costs are key factors contributing to the rising adoption of material storage and handling equipment. Manufacturers have been relying on advanced techniques for facility operations worldwide. Furthermore, with the rapid construction of new warehouses and factories along with the modernization of existing facilities, the usage of such equipment will boost efficiency and productivity.
 

Material handling systems to gain popularity in 3PL centers for streamlined operations

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The material handling equipment market value from the 3PL application is projected to cross USD 50 billion by 2032. Material handling solutions are utilized in these logistics facilities to increase IT integration, improve performance and efficiency, and cater to customer demand through accurate and on-time delivery. Since these systems can enhance inventory management, the demand for machine handling equipment from third-party logistics service providers is likely to grow, as part of their efforts to streamline operations and enhance productivity at distribution centers.
 

Rising espousal of automated material storage systems for expansion of manufacturing network

The manufacturers segment is set to reach USD 190 billion revenue by 2032. Equipment manufacturers have been emphasizing advanced product development to address changing customer requirements. As a result, manufacturers are creating robust material handling solutions targeted to handle large quantities of goods in less time. They are also expanding their dealer networks and bolstering their customer database to cater to the growing demand for automated storage and handling systems in different industry verticals.
 

Increase in industrial operations to propel product usage in North America

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The North American material handling equipment market size recorded more than USD 30 billion valuation in 2022, as a result of stable economic conditions and innovative technological development. The region is home to multiple businesses in electronics, robotics, IoT, and other fields. This factor is also likely to accelerate the production of advanced material handling solutions to reduce time and manual labor involvement. The market for material handling in Asia Pacific is predicted to grow at around 7% CAGR through 2032.
 

Middle East and Africa industry is also projected to attain near about 6% gains through 2032. The rise of tourism and the subsequent increase in the development of hypermarkets and shopping malls will drive the use of material handling systems for the fast and efficient movement of goods for storage facilities. The e-commerce sector has also expanded rapidly, adding impetus to the construction of robust material storage and handling equipment for distribution centers.
 

Innovative product development strategies to influence business outlook

Key players operating in the material handling equipment market are Beumer Group GmbH & Co. KG, Crown Equipment Corporation, Daifuku Co., Ltd., SSI Schaefer Group, Fives Group, JBT Corporation, Hyster-Yale Materials Handling, Inc., Knapp AG, Mitsubishi Caterpillar Forklift America Inc., Siemens AG, System Logistics SPA, TGW Logistics Group GmbH, Witron Logistik + Informatik GmbH, and Toyota Industries Corporation These companies are focusing on strategies such as product reach progress to strengthen their foothold across the industry.
 

Impact of COVID-19 crisis on industry dynamics

Due to the temporary shutdown of facilities and supply chain disruptions caused by the onset of the COVID-19 pandemic, the global manufacturing sector witnessed a downturn, especially in the initial months of the crisis. However, in the healthcare sector, the production of effective vaccine candidates and drugs against the virus enhanced considerably. To limit viral transmission, consumers have also been relying increasingly on online channels. These factors will proliferate the installation of conveyors and other material handling equipment in healthcare and logistics industries for efficient facility operations, creating a favorable mindset for material handling equipment market growth by 2032.
 

This market research report on material handling equipment includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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Market, By Product

• Storage & handling equipment
  • Racks
  • Stacking frames
  • Shelves, bins & drawers
  • Mezzanines
• Industrial trucks
  • Automated Guided Vehicles (AGVs)
  • Hand, platform & pallet trucks
  • Order pickers
  • Pallet jacks
  • Side loaders
  • Walkie stackers
• Bulk material handling equipment
  • Conveyor belts
  • Stackers
  • Reclaimers
  • Elevators
• Robotics
• Automate Storage & Retrieval System (AS/RS)
  • Unit load AS/RS
  • Mini load AS/RS

Market, By Application

• 3PL
• E-Commerce
• Manufacturing
  • Durable
  • Non-durable
• Food & beverages
• General merchandise
• Food retail
• Pharmaceutical/healthcare

Market, By Type

• Manufacturer
• Distributor

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile
  • Colombia
  • Peru
  • Bolivia
• MEA
  • GCC
  • South Africa