Global Material Handling Equipment market was valued, in 2017 USD XX million and in 2024 is expected to reach at USD XX million with growing CAGR of XX%.
The Material Handling Equipment market is growing rapidly growing due to rise in the demand for sophisticated automated systems coupled with the ever-increasing labour costs. The use of traditional human techniques leading to reduced productivity and increased time consumption has stressed the need for companies to manufacture high-performance material handling systems. In addition, the demand for automated pick & place robots is on the rise since these systems can be controlled remotely, offering features such as precise operational capability, contributing to the material handling equipment market demand.
The incorporation of advanced technologies into the apparatus that ensures enhanced throughput is a key factor influencing the material handling equipment market growth. The integration of technologies, such as big data , IoT, cloud, and robotics, into these systems is encouraging their adoption across several industry verticals. The implementation of big data in material handling equipment is aggregating supply chain data and is driving improvements across several businesses whereas the incorporation of IoT into these systems is enabling the real time monitoring and tracking of products.
Material Handling Equipment market consist of various players and it is understood that it is very competitive and fragmented. The players of the Material Handling Equipment market are Columbus McKinnon, KG, Dematic GmbH & Co., Hyster-Yale Materials Handling, Inc., Kion Group AG, JBT Corporation, KUKA AG, Flexlink, Daifuku Co., Ltd., and Intelligrated, Inc. among others.
The Material Handling Equipment market is bifurcated on the basis of product type, application and region. Based on product type, the material handling equipment market is classified into storage & handling equipment, industrial trucks bulk material handling equipment robotics, automated storage & retrieval system (AS/RS). Moreover, on the basis of application the material handling equipment market divided into 3PL, e-commerce, durable manufacturing, food & beverage, general merchandise, food retail
Additional, Based on region the market is classified into North America, Europe, APAC, Latin America and Middle East & Africa.
Market segmented based on medium of product type:
• Storage & Handling Equipment
• Stacking Frames
• Bins & Drawers
• Industrial Trucks
• Automated guided vehicles (AGVs)
• Platform & Pallet Trucks
• Order Pickers
• Pallet Jacks
• Walkie Stackers
• Bulk Material Handling Equipment
• Conveyor belts
• Automated Storage & Retrieval System (AS/RS)
• Unit-Load AS/RS
• Mini-Load AS/RS
Market segmented based on application:
• Durable Manufacturing
• Food & Beverage
• General Merchandise
• Food Retail
Market segmented based on region:
• North America
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Rest of Latin America
• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• Rest of MEA