Material Handling Equipment Market worth around USD 195 bn by 2024

Material Handling Equipment Market size is set to be around USD 195 billion by 2024; according to a new research report by Global Market Insights, Inc.
 

Growing automation and technological advancements in the manufacturing sector are driving the market growth. The equipment improves productivity, order accuracy, and cycle time. The manufacturing industries are adopting these systems for fast & easy transportation of goods or products, locating stock and preparing orders. The implementation of the equipment in production processes ensures fast, smooth, and efficient transportation of goods with reduced operating costs. Moreover, the rise in industrialization and the demand for efficient material handling processes in warehouse operations are some of the other factors expected to drive the material handling equipment market growth.

 

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Rising inclination of governments and industries toward worker safety is also expected to fuel the market growth. Stringent government standards for workers health & safety in manufacturing processes are forcing industries to implement advanced technologies for improving safety at workplaces. For instance, International Labour Standards (ILS) promotes the development of effective practices to provide maximum safety to workers. Such regulations are encouraging industries to shift toward the adoption of automated material handling equipment to build a safer working environment for employees. Additionally, it helps them to improve efficiency in warehouses and sustain in the growing competitive environment.
 

Material Handling Equipment Market

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In the material handling equipment market share, the food & beverage industry is expected to witness a high demand owing to the rising need for high-speed manufacturing operations and to improve business productivity. The installation of these systems will allow businesses to perform food packaging and processing operations in comparatively lesser time & lower efforts. Additionally, the increasing competition in the sector due to changing consumer preferences & tastes and rising labor costs is resulting in the higher adoption of automated technologies. Such factors are encouraging the food & beverage industry to implement advanced technologies such as Automatic Guided Vehicles (AGVs) and Warehouse Management Systems (WMS) to enhance the reliability and productivity in their manufacturing operations. The substantial growth of the food & beverage industry will drive the industry growth.
 

Browse key industry insights spread across 395 pages with 417 market data tables & 40 figures & charts from the report “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” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/material-handling-equipment-market
 

The increased interest of industries to adopt Automated Storage and Retrieval System (AS/RS) is predicted to accelerate the material handling equipment market share. These systems incorporate automated hardware and software tools for accurate placing & picking of objects, resulting in less labor, floor space, and stock storage requirements. It offers high reliability and efficiency in storing, staging, and order picking tasks in comparison to manual storage solutions. Moreover, these systems enable maintaining real-time product tracking & identification and ensure efficient order fulfillment. Industries are highly implementing AS/RS to manage storage, increase product output, and deliver real-time management information.
 

Rapid industrialization in several countries is driving the Europe material handling equipment market growth. Manufacturers are adopting modern technologies in various industrial sectors to improve the efficiency and performance of their business operations. Several countries in Europe including Italy and Spain are trying to gain stability after the economic crisis, a key factor that supports the industry growth in the region. Expensive labor in the region is stressing the need to incorporate automated material handling equipment in production facilities. Severe government rules relating to operator safety are compelling 3PL, food & beverage, and e-commerce sectors to utilize these systems for handling hazardous/heavy materials. The European directives consist of a range of health & safety requirements. The Health and Safety Framework Directive helps guarantee a high degree of protection for workers.
 

Major companies participating in the material handling equipment market share include Bastian Solutions, LLC, Beumer Group GmbH & Co. Kg, Clark Material Handling Company, Crown Equipment Corporation, Daifuku Co., Ltd., Hyster-Yale Materials Handling, Inc, Kion Group AG, JBT Corporation, and KUKA AG, among others. These manufacturers are focusing on strategic mergers & acquisitions for expanding their business presence. For instance, in October 2018, Liebherr Group announced the Morrow Equipment Company’s business operations. The acquisition will help the company to strengthen its presence by distributing its products in Australia, New Zealand, and other Oceania countries.
 

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Material handling equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:

Material Handling Equipment Market, By Product

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

Material Handling Equipment Market, By Application

  • 3PL
  • E-Commerce
  • General merchandise
  • Food Retail
  • Food & beverage
  • Durable manufacturing

The above material handling equipment market information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile
    • Colombia
    • Peru
    • Bolivia
  • MEA

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