Material Handling Equipment Market Size 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, Automated Storage & Retrieval System (AS/RS) [Unit-Load AS/RS, Mini-Load AS/RS]), By Application (3PL, E-Commerce, Durable Manufacturing, Food & Beverage, General Merchandise, Food Retail), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, China, India, Japan, Australia, Mexico, Brazil, Argentina, Bolivia, Colombia, Chile, Peru), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024

Published Date: Jun 2018  |  Report ID: GMI1384  |  Authors: Ankita Bhutani, Pallavi Bhardwaj

Report Format: PDF   |   Pages: 395   |   Base Year: 2017

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Material Handling Equipment Market size was valued at over USD 130 billion in 2017 and will grow at a CAGR of over 5.5% from 2018 to 2024.

France Material Handling Equipment Industry, By Product, 2017 & 2024 (USD Million)

France Material Handling Equipment Industry, By Product, 2017 & 2024 (USD Million)

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Flourishing e-commerce and retail industries are the key material handling equipment market trends. According to the U.S. Commerce Department, in 2018, consumers spent around USD 520 billion in online e-commerce, a rise of 15% from USD 450 billion in 2017. With more consumers switching to online shopping, the need for handling, sorting, and delivering the products purchased is increasing. This is encouraging retailers to implement advanced technologies to increase product throughput, reduce order errors, and achieve maximum efficiencies from manual and automated processes. To speed up order fulfilment at lower cost and higher accuracy, several retailers are adopting the equipment for pick-and-place operations. The equipment improves order processing & tracking and reduces warehouse and distribution costs, thereby aiding the retailers to maximize profits and succeed in competitive environment. Moreover, the rising demand for automated pick & place robots in logistics is contributing to the industry demand.

Customer demand patterns are shifting; technological advancements are altering the industry economics, and new competitors are challenging the old models in several regions. The incorporation of advanced technologies such as IoT, big data, cloud, and robotics into these systems will drive the automated material handling equipment industry demand over the coming years. The evolution of the technology to assist smooth warehouse & logistics operations to fulfill consumer demands is changing the business environment rapidly. The demand for voice-picking solutions is growing among several 3PL players as it helps in enhancing the warehousing operation accuracy. Moreover, the introduction of newer technologies, such as automated sorting systems, in distribution centers provides higher throughput and quieter operations, enabling industries to increase efficiencies, thereby resulting in high Return on Investment (ROI). In addition, high-speed automation can effectively load and unload trucks at the pallet and carton levels.

Material Handling Equipment Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 130 Billion (USD)
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Forecast Period (2018 to 2024) CAGR: 5.5% 2024 Value Projection: 195 Billion (USD)
Pages: 395 Tables, Charts & Figures: 457
Geographies covered (17): U.S., Canada, Germany, UK, France, Italy, China, India, Japan, Australia, Mexico, Brazil, Argentina, Bolivia, Colombia, Chile, Peru
Segments covered: Product and Region
Companies covered (33): Bastian Solutions, LLC, Beumer Group GmbH & Co. Kg, Clark Material Handling Company, Columbus McKinnon, Crown Equipment Corporation, Daifuku Co. Ltd., Dematic GmbH & Co., KG, Flexlink, Hyster-Yale Materials Handling, Inc., JBT Corporation, Jungheinrich AG, Kion Group AG, KUKA AG, Liebherr, Mecalux S.A., Mitsubishi Caterpillar Forklift America Inc., Murata Machinery, Ltd., Vanderlande Industries, Intelligrated, Inc., Swisslog AG, Knapp AG, TGW Logistics Group GmbH, Grenzebach Maschinenbau GmbH, Witron logistik + Informatik GmbH, Kardex AG, Dearborn Mid-West Company, Egemin Group, Inc., Viastore Systems, Inc., System Logistics, Siemens AG, SSI Schaefer Group, Toyota Industries Corporation, Fives Group,
Growth Drivers:
  • Attractive e-commerce industry in the U.S.
  • Rising labor costs and inconveniences of employing a manual workforce in North America and Europe
  • Technological advancements in Europe
  • Advent of industry 4.0 in Europe
  • Growing automation demand from Asia Pacific
  • Growing demand for automation in Europe and Asia Pacific from SMEs
  • Growing demand for personalized Automated Guided Vehicles (AGVs) in China
  • Improving industrial sector and enhancing productivity in Latin American economies
  • Growth in the aviation industry in MEA
Pitfalls & Challenges:
  • High initial costs
  • Lack of awareness
  • Real-time technical challenges

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Material Handling Equipment Market, By Product

Industrial trucks segment is expected to witness high growth over the forecast timespan owing to their effective lifting and transporting material capabilities. They are used to moving materials over variable paths without the restrictions on the area covered, which will support its widescale adoption. The trucks with forks are used due to their ability to handle pallets and place the loads. Powered industrial trucks, such as forklifts, can be used to move large quantities of materials from the production floor. Rise in industrial and infrastructural activities coupled with high yield and production of goods requires the use of high-capacity equipment, leading to a high demand for these systems. Moreover, increasing government standards for worker safety during movement of goods are encouraging industries to implement these systems for manufacturing and distribution processes. For instance, “Health and Safety Directive” by the EU government ensures a high degree of protection to workers.

Insights By Application

Global Material Handling Equipment Market Size, By Application, 2024 (USD Million)

Global Material Handling Equipment Market Size, By Application, 2024 (USD Million)
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In 2017, 3PL accounted for over 25% of the material handling equipment market share. Implementation of advanced material handling systems in supply chain processes improves the speed and throughput of material movement, thereby increasing efficiency. Rise in competitiveness in the industry is forcing third-party logistics providers to invest in advanced automated technologies in warehouse operations, resulting in increasing demands for this equipment. Supply chains are becoming increasingly complex and many companies and businesses are turning toward 3PL businesses to confirm that the goods arrive at the customers’ door and the retail store on time at minimum possible costs. The 3PL industry is utilizing the equipment to enhance performance, increase the IT integration, improve efficiency, and keep their customers satisfied with accurate and on-time deliveries of a wide variety of products and packaging. The equipment offers flexibility in warehouse designs, enabling customers to interact in a better manner.

Region Analysis

Asia Pacific Material Handling Equipment Market Share, By Country, 2017 (USD Million)

Asia Pacific Material Handling Equipment Market Share, By Country, 2017 (USD Million)
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The Asia Pacific material handling equipment market share accounted for over 35% of the global industry. Industrial development in countries such as China, India, Japan, Indonesia, Malaysia, and Singapore is being witnessed. Rapid industrialization coupled with increasing government initiatives, such as Make in India and Made in China, is supporting the growth of the manufacturing sector. The flourishing manufacturing sector and the efforts to automate all the systems by replacing human labor with machines is driving the automated material handling industry growth. Rising labor costs in region are compelling manufacturers to find alternative solutions to enhance the throughput. Moreover, several players in the region are investing in the research and development of these systems and are undergoing mergers and acquisitions to expand their market presence. For instance, in December 2017, Hyster-Yale Materials Handling, Inc. announced that the company has entered into a contract to acquire 75 percent of the shares of Zhejiang Maximal Forklift Company Limited for an aggregate purchase price of USD 90 million.

Competitive Market Share

Key players operating in the material handling equipment market share include Columbus McKinnon, Intelligrated, Inc., Flexlink, Daifuku Co., Ltd., Hyster-Yale Materials Handling, Inc., Dematic GmbH & Co., KG, JBT Corporation, Kion Group AG, and KUKA AG, among others. These players are focusing on expanding their product lines to strengthen and expand their market presence. Also, manufacturers are continuously expanding their production capabilities to prevent dependence on other regions for the import of machine parts. For instance, in December 2018, Hyster-Yale Materials Handling, Inc., announced to expand its subsidiary company Bolzoni, which manufactures lift truck attachments as part of its plan to expand Bolzoni's capabilities in the U.S. The rise in manufacturing activities across several countries is encouraging 3PL companies such as FedEx, and Deutsche Post DHL to expand their businesses in untapped markets.

Industry Background

The companies operating in the material handling equipment market are focusing on strategic partnerships and acquisitions to expand their market presence. For instance, in September 2015, Columbus McKinnon Corporation, a material handling manufacturer, announced the acquisition of Magnetek, which develops motion control solutions for the material handling industry. The acquisition helped the company in expanding its products in several applications and to offer enhanced solutions to its customers. Several major players are also investing in R&D for developing advanced technologies to increase their customer base globally. For instance, in March 2018, JBT Corporation invested around USD 27 million in R&D to develop new products for the customers.

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