Global Material Handling Equipment Market Projected To Grow by 2023

The Global Material Handling Equipment Market is garnering substantial traction. The market growth attributes to the increasing automation across manufacturing industries. Besides, the continually increasing pressure for optimization of resources and energy drives the development of the market. Moreover, constant innovation in technology, upgrades of manufacturing plants, and the expansion of manufacturing sectors worldwide escalate the growth of the market.

Get Free Sample Report : https://www.marketresearchfuture.com/sample_request/3214 According to Market Research Future (MRFR), the global material handling equipment market is projected to grow at approximately 7.5% CAGR during the review period (2019 -2025). Material handling equipment plays a causal role in improving various industrial processes such as the movement, storage, protection, and distribution of goods. Hence, they are extensively used across the rapidly growing end-use industries, including e-commerce, automotive, food & beverages, and metal & heavy machinery.

Augmented uptake and demand worldwide encourage manufacturers to bring more novelties in quality for material handling equipment. Additionally, substantial R&D investments in product developments pay off well, bringing about advanced material handling equipment and increasing the uptake and market sales. The burgeoning eCommerce industry and the rising number of shipment companies boost the instrument transformer market size.

Also, increasing application areas of material handling equipment across the manufacturing sectors accelerate market growth. Besides, the increasing demand for energy-efficient material handling instruments and quadrupling supply chains provide impetus to market growth. Conversely, high capital investment is the major factor projected to impede market growth.

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Global Material Handling Equipment Market - Segments

The report is segmented into four dynamics;

By Operation : Assembly, Transportation, Packaging, Distribution, and others.

By System Type : Bulk Load Material Handling System, Unit Load Material Handling System, and others.

By Application : Automotive, E-Commerce, Food & Beverages, Metal & Heavy Machinery, and others.

By Regions : Europe, Americas, APAC, and Rest-of-the-World.

Global Material Handling Equipment Market - Regional Analysis

The Asia Pacific region dominates the global material handling equipment market. The largest market share attributes to the booming industrial sector in the region. Besides, rising safety concerns at workplaces and industrial set-ups drive the growth of the regional market. Moreover, the spurting rise in the major end-user industries such as automotive, food & beverage, and metal & heavy industries substantiates market demand.

Also, the burgeoning e-commerce industry in the region influences the market growth, creating the demand for efficient distribution and sorting applications. The improving economy fosters the growth of the market, increasing the numbers of production plants across the region. India and China account for considerable shares in the regional market, witnessing exponential growth. The APAC material handling equipment market is projected to retain its dominance throughout the assessment period.

North America stands second in the global material handling equipment market. The wide adoption of advanced technology drives the market growth for the material handling process. Additionally, the high penetration of material handling equipment in application areas such as eCommerce, automotive, food & beverages, metal & heavy machinery, and others drives the regional market growth.

Also, the strong presence of notable industry players in the region positively impacts the growth of the market. Moreover, the well-developed economy and the high per capita disposable income of demographics substantiate the regional market growth. The US & Canada account for the largest share, providing an enormous impetus to the regional market growth. The material handling equipment market in the North American region is projected to create a substantial revenue pocket during the forecast period.

Europe possesses a sizable share in the global material handling equipment market. Factors such as the augmented demand from the rapidly growing end-use industries boost market growth. Germany, Italy, and France are key markets for material handling equipment, expanding the regional market growth. The European material handling equipment market is expected to increase at a steady growth rate during the review period.

Material Handling Equipment Market - Competitive Analysis

Highly competitive, the material handling equipment market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, product launch, and expansion.

Major Players:

Players leading the material handling equipment market include KION Group AG (Germany), Liebherr Group (Switzerland), Jungheinrich AG (Germany), Eisenmann AG (Germany), Viastore Systems GmbH (Germany), Columbus McKinnon Corporation (US), Hytrol Conveyor Co., Inc. (US), Crown Equipment Corporation (US), Xuzhou Heavy Machinery Co., Ltd. (China), and Toyota Industries Corporation (Japan), among others.

Industry/ Innovation/ Related News:

September 16, 2020 ---- Runnion Equipment Co. (the US), announced the addition of the full line of Princeton forklifts to its lineup of material handling equipment. All Princeton forklift units can be rear-mounted or top-mounted on a variety of commercial trucks and trailers. The forklift models ranging from 4,000- to 8,000-pound capacity would help Runnion round out its material delivery options across the installed customer base.

The addition of Princeton forklifts would enable the company to offer more options to its customers in the roofing supply, brick & block, wallboard, and sod delivery industries, adding to their equipment fleets through purchase or rental.