Material handling equipment market to grow at a CAGR of 6.49% from 2022 to 2027

NEW YORK, July 24, 2023 /PRNewswire/ -- The material handling equipment market size is expected to increase by USD 14,096.55 million from 2022 to 2027, registering a CAGR of 6.49%, according to the latest research report from Technavio. Discover Industrial Machinery industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

The material handling equipment market covers the following areas:

Material Handling Equipment Market Sizing

Material Handling Equipment Market Forecast

Material Handling Equipment Market Analysis

The material handling equipment market - Vendor Landscape

The material handling equipment market is fragmented with the presence of many global vendors including Beumer Group GmbH and Co. KG, Columbus McKinnon Corp., Crown Equipment Corp., Daifuku Co. Ltd., FlexLink Holding AB, Fritz SCHAFER GmbH and Co KG, Godrej and Boyce Manufacturing Co. Ltd., Honeywell International Inc., Hytrol Conveyor Co., Interroll Holding AG, Jungheinrich AG, KION GROUP AG, KUKA AG, Liebherr International Deutschland GmbH, Mecalux SA, Mitsubishi Chemical Group Corp., Murata Manufacturing Co. Ltd., Toyota Industries Corp., via store SYSTEMS GmbH, and NACCO Industries Inc. These vendors focus on R&D, technology, and branding to compete in the market. The material handling equipment market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Vendor Offerings

Columbus McKinnon Corp.: The company offers strategic material handling solutions such as automation, crane kits, crane solutions, and energy savings.

Crown Equipment Corp.: The company offers material handling equipment such as forklifts, used forklifts, and new forklifts.

Daifuku Co. Ltd.: The company offers various conveyor material handling equipment under its subsidiary called Vega Conveyors and Automation Private Limited.

For market's vendor landscape highlights with a comprehensive list of vendors and their offerings - View Sample in minutes

The material handling equipment market - Market Segmentation

This report extensively covers market segmentation by type (cranes and lifting equipment, industrial trucks, continuous handling equipment, and racking and storage equipment), application (construction, e-commerce, foods and beverages, automotive, and others), and geography (Europe, APAC, North America, Middle East and Africa, and South America).

The cranes and lifting equipment segment will account for a major share of the market's growth during the forecast period. The growth of the construction and heavy equipment industry has increased the demand for cranes and other lifting equipment for material handling applications. Bridge, port, truck-mounted, and jib cranes are commonly used for lifting and lowering materials. Furthermore, harbor cranes are mainly designed to handle cargo and containers. Harbor cranes are equipped with different tools according to the handling of different types of cargo.

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The material handling equipment market - Regional Market Outlook

Europe is estimated to contribute 38% to the growth by 2027. Growing urbanization has increased the demand for residential properties in European countries, which is also a key factor driving the increasing demand for material handling equipment in Europe. According to data released by the European Commission, Europe's urban population is estimated to grow by 80% by 2050. Thus, will subsequently fuel the growth of the material-handling equipment market in Europe during the forecast period.

For more key highlights on the regional market share of most of the above-mentioned countries.- View Sample Report

Companies Mentioned

Beumer Group GmbH and Co. KG

Columbus McKinnon Corp.

Crown Equipment Corp.

Daifuku Co. Ltd.

FlexLink Holding AB

Fritz SCHAFER GmbH and Co KG

Godrej and Boyce Manufacturing Co. Ltd.

Honeywell International Inc.

Hytrol Conveyor Co.

Interroll Holding AG

Jungheinrich AG

KION GROUP AG

KUKA AG

Liebherr International Deutschland GmbH

Mecalux SA

Mitsubishi Chemical Group Corp.

Murata Manufacturing Co. Ltd.

Toyota Industries Corp.

viastore SYSTEMS GmbH

NACCO Industries Inc.

What's New?

Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession

Global competitiveness and key competitor positions

Market presence across multiple geographical footprints-Strong/Active/Niche/Trivial- buy the report!

The material handling equipment market - Market Dynamics

Key Driver

Growing demand for improved operational efficiency is the key factor driving the growth of the material handling equipment market. Material handling is important in almost every industry, including manufacturing and construction. Increasing globalization and the rapid growth of online shopping have raised the demand for efficient and cost-effective material handling solutions. Furthermore, by using standard material handling equipment, enterprises can increase workflow efficiency, improve customer service, reduce production costs, improve product quality, reduce material damage, and minimize delivery times. Hence, rising demand for improved operational efficiency will drive the growth of the global focus market during the forecast period.

Leading Trend

Increased digitization is the primary trend in the material handling equipment market. Online orders are rising day by day owing to the factors such as the rapid growth of the e-commerce industry, increasing adoption of omnichannel distribution systems, and changing consumer expectations. By digitizing processes and operations, companies can improve reliability and productivity. The use of sensor technology and radio frequency identification (RFID) is expected to drive product innovation in the material handling equipment market. Hence, rising digitization using RFID and wireless technologies and advancements in technology in material handling equipment are expected to fuel the growth of the material handling equipment market during the forecast period.

Significant Challenge

Shortage of skilled workforce is a major challenge impeding the growth of the global material handling equipment market. Every industry is being forced to adopt advanced technology to improve workflow, efficiency, and productivity and generate more revenue. Moreover, with the rising adoption of automation in industrial applications, there is a growing demand for qualified and trained professionals to perform a wide variety of tasks in material handling processes. Low compensation, work-life balance issues, ineffective policies and procedures, and unsatisfactory management are among the major factors of skilled professional shortages in organizations. Hence, the lack of a skilled and trained workforce in industries is expected to impede the growth of the material handling equipment market during the forecast period.

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Material Handling Equipment Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.49%

Market growth 2023-2027

USD 14,096.55 million

Market structure

Fragmented

YoY growth 2022-2023(%)

5.0

Regional analysis

Europe, APAC, North America, Middle East and Africa, and South America

Performing market contribution

Europe at 38%

Key countries

US, China, India, Germany, and France

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Beumer Group GmbH and Co. KG, Columbus McKinnon Corp., Crown Equipment Corp., Daifuku Co. Ltd., FlexLink Holding AB, Fritz SCHAFER GmbH and Co KG, Godrej and Boyce Manufacturing Co. Ltd., Honeywell International Inc., Hytrol Conveyor Co., Interroll Holding AG, Jungheinrich AG, KION GROUP AG, KUKA AG, Liebherr International Deutschland GmbH, Mecalux SA, Mitsubishi Chemical Group Corp., Murata Manufacturing Co. Ltd., Toyota Industries Corp., viastore SYSTEMS GmbH, and NACCO Industries Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global material handling equipment market 2017 - 2021

4.2 Type Segment Analysis 2017 - 2021

4.3 Application Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Type

6.1 Market segments

6.2 Comparison by Type

6.3 Cranes and lifting equipment - Market size and forecast 2022-2027

6.4 Industrial trucks - Market size and forecast 2022-2027

6.5 Continuous handling equipment - Market size and forecast 2022-2027

6.6 Racking and storage equipment - Market size and forecast 2022-2027

6.7 Market opportunity by Type

7 Market Segmentation by Application

7.1 Market segments

7.2 Comparison by Application

7.3 Construction - Market size and forecast 2022-2027

7.4 E-commerce - Market size and forecast 2022-2027

7.5 Foods and beverages - Market size and forecast 2022-2027

7.6 Automotive - Market size and forecast 2022-2027

7.7 Others - Market size and forecast 2022-2027

7.8 Market opportunity by Application

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 Europe - Market size and forecast 2022-2027

9.4 APAC - Market size and forecast 2022-2027

9.5 North America - Market size and forecast 2022-2027

9.6 Middle East and Africa - Market size and forecast 2022-2027

9.7 South America - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 Germany - Market size and forecast 2022-2027

9.11 France - Market size and forecast 2022-2027

9.12 India - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Beumer Group GmbH and Co. KG

12.4 Columbus McKinnon Corp.

12.5 Crown Equipment Corp.

12.6 Daifuku Co. Ltd.

12.7 FlexLink Holding AB

12.8 Honeywell International Inc.

12.9 Hytrol Conveyor Co.

12.10 Interroll Holding AG

12.11 Jungheinrich AG

12.12 KION GROUP AG

12.13 Liebherr International Deutschland GmbH

12.14 Mecalux SA

12.15 Mitsubishi Chemical Group Corp.

12.16 NACCO Industries Inc.

12.17 viastore SYSTEMS GmbH

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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