Global Material Handling Equipment Market Expected to Grow at a CAGR of 7.2% between 2024 and 2032.

The global material handling equipment market is driven by the significant role it plays in the manufacturing sector. The material handling does not directly contribute to the manufacture of products, but it enables effective handling, management, storage, and transport of products ensuring that products circulate quickly, smoothly, and efficiently. The growth in the industrial and infrastructural operations is expected to cater to the ever-growing population, further enhancing the material handling equipment market growth.

Daifuku Co., Ltd. (TYO: 6383) and Toyota Industries Corporation (OTCMKTS: TYIDY) are some of the major players in the global material handling equipment market. In April 2020, Daifuku Co., Ltd., a leading global manufacturer and supplier in the material handling industry, acquired the India-based material handling equipment manufacturer, Vega Conveyors & Automation Private Limited, to expand manufacturing and distribution business segments within Asia.

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Market Analysis by Product, System Type, Function, Industry, and Region:

• The material handling equipment market, on the basis of product, is divided into storage and handling equipment, automated storage and retrieval system, industrial trucks, and bulk material handling equipment, among others.

• On the basis of system type, the market is bifurcated into unit load material handling systems and bulk load material handling systems.

• Based on function, the market is segmented into assembly, packaging, transportation, distribution, storage, and waste handling.

• On the basis of industry, the market is divided into automotive, metal and heavy machinery, food and beverages, chemicals, semiconductors and electronics, healthcare, aviation, and e-commerce, among others.

• Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of The Report:

• The global material handling equipment market is driven by the increasing demand for integration of automation and modernisation into manufacturing procedures to make the production process simpler and cost-effective. 

• The development of the aviation and e-commerce sectors, and the rising demand for supply chain transparency and flexibility in warehouse activities, along with the increasing demand for enhanced storage and transportation of goods in warehouses are expected to aid the market growth of material handling equipment.

• The material handling equipment makes for a process-efficient, cost-effective, and precise technique for the quick transfer of goods across production plants and warehouses, resulting in its enhanced demand and, thus, aiding the industry growth. 

• The spurring material handling equipment market in emerging economies such as India is expected to propel the overall industry growth globally. 

• The market is further invigorated by the constant attraction of enormous quantities of foreign capital by manufacturing and other sectors, thereby increasing the manufacturing operations.

• The rising infrastructure to construct and upgrade new airports, rail networks, seaports, and power plants ensures improved productivity by enhancing logistics at warehouses and manufacturing plants.

Key Offerings of the Report:

• The EMR report gives an overview of the global material handling equipment market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the products, system types, functions, industries, and regional markets of material handling equipment. 

• It assesses the market based on the SWOT and Porter’s Five Forces models.

Daifuku Co., Ltd., Jungheinrich AG, The Beumer Group GmbH & Co. KG, Kion Group AG, Mecalux, S.A., Toyota Industries Corporation, Hyster-Yale Group, Inc., JBT Corporation, KUKA AG, among others, are the key players in the global material handling equipment market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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