Material Handling Equipment Global Market Report 2023

The material handling equipment refers to a mechanical equipment utilised for a variety of purposes throughout the transit or storage of products in industrial settings. It facilitates the transportation, storage, and control of commodities and materials during the manufacturing, distribution, usage, and disposal. These devices make it possible to move big quantities of products and heavy objects quickly and efficiently.

The main types of material handling equipment are used by manufacturer and distributor. The manufacturer refers to company who are in the manufacturing and handling of material handling equipment. A manufacturer is a person or a registered corporation that creates finished goods from raw materials in order to gain profit. The different product are cranes and lifting equipment, industrial trucks, continuous handling equipment, and racking and storage equipment, which are used in automotive, food and beverages, chemical, semiconductor and electronics, e-commerce, aviation, pharmaceutical, and others.

The global material handling equipment market is expected to grow from $180.60 billion in 2022 to $194.27 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The material handling equipment market is expected to reach $248.83 billion in 2027 at a CAGR of 6.3%.

The material handling equipment market research report is one of a series of new reports that provides material handling equipment market statistics, including material handling equipment industry global market size, regional shares, competitors with a material handling equipment market share, detailed material handling equipment market segments, market trends and opportunities, and any further data you may need to thrive in the material handling equipment industry. This material handling equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Technological innovation are a key trend gaining popularity in the material handling equipment market. Major players are concentrating on creating innovative equipment technologies products, such as electric material handling equipment to strengthen their position. For instance, in May 2022, Linde Material Handling, a Germany-based manufacturer of forklift trucks and warehouse equipment company, introduced electric heavy-duty forklift trucks with load capacities ranging from 10 to 18 tonnes. This innovative, compact, heavy-duty truck series is built on the eight-ton range and includes a double drive, double lifting hydraulics, two batteries, and scaled pumps.

In Nov 2021, Wolter, Inc., formerly Wolter Group LLC, a US-based material handling equipment and machinery manufacturing company, acquired Advantage Materials Handling Group for an undisclosed amount. This acquisition will expand Wolter's coverage area for Kion North America's Linde and Baoli electric, gas, and LP forklift ranges. Advantage Materials Handling Group is a US-based company offering industrial machinery and equipment.

Asia-Pacific was the largest region in the material handling equipment market in 2022. The regions covered in the material handling equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the material handling equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The rising e-commerce industries are expected to propel the material handling equipment market going forward. E-commerce is a business approach that allows people to buy and sell goods and services through the Internet. The e-commerce sector is rising due to changes in consumer preference, increased convenience, and personalized experience. The automatic material handling equipment provides convenience to businesses in packaging, bulk material handling, and managing the supply chain ecosystem in their industrial spaces. For instance, according to Forbes, an American business magazine, in the US, e-commerce sales reached $870 billion in 2021, up 50.5% from the previous year and 14.2% from 2020. Moreover, e-commerce accounted for 13.2% of retail sales in the US in 2021. Thus, such a rise in e-commerce will drive the material-handling equipment market.

The material handling equipment market consists of sales of casters and wheels, controllers, conveyors, dock equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Major players in the material handling equipment market are The Beumer Group, Daifuku Co Ltd., Kion Group AG, Toyota Industries Corporation, Honeywell International Inc., Schaefer System International Ltd., Jungheinrich AG, Crown Equipment Corporation, Hyster-Yale Materials Handling Inc., Mitsubishi Caterpillar Forklift America Inc., Mecalux S.A., Murata Manufacturing Co Ltd., Liebherr Group, Swisslog Holding AG, and Action Construction Equipment Ltd.



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