A continuous rise in the demand for automation and pick and place robots in industries have revolutionized the material handling equipment market. In developing economies, industrialization and modernization is ongoing at a rampant rate and the analyst of the latest IndustryARC report has foreseen fruitful returns. The report has estimated the global material handling equipment market value at $145.21 million as of 2018, and the demand is projected to grow at a compound annual growth rate (CAGR) of 7.50% during the forecast period of 2019 to 2025.
The report is titled “Material Handling Equipment Market: by Product Type (Conveying Equipment, Hoist, Cranes and Monorail); End-use Industry (Aerospace, Agriculture, Air Cargo and Construction) and Geography – Forecast (2019-2025).” The report also documents that increasing investments in the construction and real estate, automation, and robotics sector by start-up companies is another key factor driving the material handling equipment market.
Global Material Handling Equipment Market: Demand Analysis
Material handling equipment has a diverse range of tools and accessories that are involved in transporting, controlling, storing, and protecting the products. There are four major categories: transport equipment, positioning equipment, unit load formation equipment, and storage equipment. This one of the most essential part of the supply chain for varied industries.
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Global Material Handling Equipment Market: Leading Segment
Currently, global material handling equipment is dominated by APAC, which captured 38.19% of the total share in 2018. China has been identified as one of the fastest emerging economies and contributes the most in the development of APAC. The Made in China 2025 initiative by the Government of China is targeting to produce higher value products and services. This has encouraged global and domestic start-up companies to invest more in the market. The growing adoption of technologies like digital analytics, remote monitoring, and an autonomous vehicle in APAC is encouraging the material handling equipment market to grow.
Moreover, the key application segment in the material handling equipment market that is identified by the IndustryARC report is shipping. The growth opportunities in this application is estimated to observe an impressive CAGR of 8.10% during the forecast period of 2019-2025. The material handling equipment is a young and innovative sector with tremendous economic and ecological potential. APAC has started to acknowledge the benefits of it and has started investing ample money in the sector.
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Global Material Handling Equipment Market: Market Trends and Growth Drivers
- Robots and artificial intelligence has started to replace the jobs. Material handling equipment in various organizations is now being replaced with robots. This application ranges far beyond the self-driven cars and trucks. The companies are using AI to enhance inventory and operations.
- E-commerce adoption has widely increased shipments that can track real-time movements of the goods and services. In this era, it has become more promising and useful. This has eventually driven the material handling equipment market growth.
- Material handling is no longer dependent on the workforce, the era has changed and now only the skilled labors are being hired to handle the equipment. The company has to incur less cost and the labors are being more efficient.
- The electric-powered material handling equipment is becoming more popular day-by-day globally in warehouses and many distribution centers. It helps in preventing costs due to charging batteries.
- Material handling is highly influenced by the Internet of Things (IoT). The Warehouse Management System has completely relied on IoT. The data comes from material handling, as it uses messaging technology to distribute relevant messages to the appropriate people and systems. This has had a high influence on the demand and growth of the material handling equipment market.
Global Material Handling Equipment Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global material handling equipment market are Liebherr Group, KION Group AG, Jungheinrich AG, Viastore Systems GmbH, Eisenmann AG, Columbus McKinnon Corporation, Crown Equipment Corporation, Hytrol Conveyor Co., Inc, Xuzhou Heavy Machinery Co., Ltd, and Toyota Industries Corporation.
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What can you expect from the report?
The Material Handling Equipment Market is Prepared with the Main Agenda to Cover the following 20 points:
- Material Handling Equipment Market Size by Product Categories & Application
- Material Handling Equipment Market trends & Relevant Market Data
- Manufacturer Landscape
- Distributor Landscape
- Pricing Analysis
- Top 10 End-user Analysis
- Product Benchmarking
- Product Developments
- Mergers & Acquisition Analysis
- Patent Analysis
- Material Handling Equipment Market Demand Analysis (Revenue & Volume)
- Country-level Analysis
- Competitor Analysis
- Material Handling Equipment Market Shares Analysis
- Value Chain Analysis
- Supply Chain Analysis
- Material Handling Equipment Market Strategic Analysis
- Material Handling Equipment Market Current & Future Market Landscape Analysis
- Opportunity Analysis
- Material Handling Equipment Market Revenue and Volume Analysis
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