The Material Handling Equipment Market size was estimated at USD 206.59 Billion in 2022 and is expected to reach USD 319.69 Billion by 2030 at a CAGR of 5.6% during the forecast period of 2023-2030.
The material handling equipment market is a critical component of the logistics and manufacturing industries, providing the tools and machinery necessary for efficient movement, storage, and control of goods within facilities. This market encompasses a wide range of equipment, including conveyor systems, forklifts, pallet jacks, and automated storage and retrieval systems. With the increasing demand for automation in warehousing and manufacturing processes, the material handling equipment market has seen significant growth. This growth is driven by the need for greater efficiency, reduced labor costs, and improved safety in material handling operations. As industries continue to adopt advanced technologies like robotics and AI, the market is expected to further expand, offering innovative solutions to meet the evolving needs of businesses.
In recent years, the material handling equipment market has been significantly influenced by the rise of e-commerce and the globalization of supply chains. The rapid expansion of online retail has led to an increased demand for sophisticated logistics systems capable of handling high volumes of goods quickly and accurately. This has spurred investments in automated material handling systems, such as automated guided vehicles (AGVs) and robotic picking systems, which help streamline operations and reduce order fulfillment times. Additionally, the globalization of supply chains has necessitated the development of more versatile and adaptable material handling solutions that can efficiently manage complex logistics networks. As companies strive to enhance their supply chain efficiency and resilience, the material handling equipment market is poised for continued innovation and growth
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Covid 19 impact analysis:
The latest report is the most recent study that offers 360° coverage of the Material handling equipment industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Material handling equipment market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Major companies profiled in the market report include
BEUMER GROUP, Daifuku Co., Ltd., Honeywell International, Inc., KION GROUP AG, Mecalux, S.A, Murata Manufacturing Co., Ltd., SSI SCHAEFER, Swisslog Holding AG, TOYOTA INDUSTRIES CORPORATION, Vanderlande Industries B.V., are and others
Research objectives:
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Material handling equipment market.
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It has segmented the global Material handling equipment market
By Product
- Cranes & Lifting Equipment
- Industrial Trucks
- Continuous Handling Equipment
- Racking & Storage Equipment
By Application
- Automotive
- Food & Beverages
- Chemical
- Semiconductor & Electronics
- E-commerce
- Aviation
- Pharmaceutical
- Others
Key Objectives of the Global Material handling equipment Market Report:
- The report conducts a comparative assessment of the leading market players participating in the global Material handling equipment
- The report marks the notable developments that have recently taken place in the Material handling equipment industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Material handling equipment market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market
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