Material Handling Equipment Market Global Market Report 2024

The material handling equipment market has grown strongly in recent years. It will grow from $193.08 billion in 2023 to $206.84 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The expansion observed in the historical period can be attributed to factors such as the growth of e-commerce, expansion in the manufacturing sector, global optimization of supply chains, warehouse automation initiatives, and increased activities in ports and terminals.

The material handling equipment market is expected to see strong growth in the next few years. It will grow to $270.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the forecast period can be attributed to the evolution of e-commerce logistics, the adoption of green and sustainable practices, shifts in global manufacturing trends, increased demand for last-mile delivery services, and the integration of smart logistics. Major trends expected in the forecast period include a focus on ergonomic design for operator comfort and safety, the adoption of customization and modular solutions in material handling systems, the implementation of artificial intelligence for smart decision-making, the expansion of autonomous material handling equipment, and an emphasis on safety technologies, including collision avoidance.

The upward trajectory of the e-commerce industry is poised to drive the material handling equipment market in the future. E-commerce, facilitating online buying and selling of goods and services, is gaining momentum due to shifts in consumer preferences, heightened convenience, and personalized experiences. Automatic material handling equipment proves beneficial for businesses engaged in packaging, bulk material handling, and supply chain management within their industrial spaces. Forbes reports that in the US alone, e-commerce sales surged to $870 billion in 2021, marking a 50.5% increase from the previous year and a 14.2% rise from 2020. Additionally, e-commerce contributed to 13.2% of retail sales in the US in 2021. This substantial growth in e-commerce is expected to propel the material handling equipment market.

The increasing adoption of automated solutions and robotics is anticipated to fuel the material handling equipment market. Automated solutions and robotics involve leveraging technology to create systems capable of performing tasks and operations without direct human intervention. These technologies streamline processes and enhance efficiency across various industries. Material handling equipment plays a crucial role in the transportation, sorting, and distribution processes of automated solutions and robotics due to its precision, speed, and ability to handle repetitive tasks accurately. As of December 2021, the International Federation of Robotics reported a global surge in the adoption of industrial robots, with an average density of 126 robots per 10,000 employees in manufacturing industries. The rising adoption of automated solutions is expected to drive the growth of the material handling equipment market.

Technological innovation is a prominent trend gaining momentum in the material handling equipment market. Major players in the industry are directing their efforts toward creating innovative products, such as electric material handling equipment, to fortify their market positions. Linde Material Handling, a Germany-based manufacturer of forklift trucks and warehouse equipment, introduced electric heavy-duty forklift trucks with load capacities ranging from 10 to 18 tons in May 2022. This innovative series, built on the eight-ton range, includes features such as double drive, double lifting hydraulics, two batteries, and scaled pumps.

Key companies in the material handling equipment market are placing a strong emphasis on product innovation, introducing solutions such as high-level order picking systems to enhance their product portfolios. High-level order picking solutions are advanced and automated systems designed for efficient and accurate fulfillment of customer orders in warehouse and distribution operations. Toyota Material Handling, a US-based manufacturer of material handling products, launched 22 new electric products in January 2022, expanding their portfolio to address customer needs. These products include low-level order pickers, furniture order pickers, enclosed end rider, stand-up rider pallet jacks, and four electric pneumatic forklift models with capacities ranging from 3,000 to 17,500 pounds.

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

Major companies operating in the material handling equipment market market report are Beumer Group GmbH & Co. KG, Daifuku Co. Ltd., KION Group AG, Toyota Industries Corporation, Honeywell International Inc., SSI Schäfer Group GmbH, 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, Action Construction Equipment Ltd., TGW Logistics Group GmbH, Viastore Systems GmbH, WITRON Logistik + Informatik GmbH, BHS Corrugated Maschinen- und Anlagenbau GmbH, Cimcorp Automation Ltd., Columbus McKinnon Corporation, Eisenmann SE, Elettrric80 S.p.A., Hanel GmbH & Co. KG, Hapman LLC, Hytrol Conveyor Company Inc., ICM Airport Technics GmbH, Intelligented Co. Ltd., Jervis B. Webb Company, KITO Corporation, KNAPP AG.

Asia-Pacific was the largest region in the material handling equipment market share in 2023. The regions covered in the material handling equipment market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the material handling equipment market market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of material handling equipment find application in manufacturing and distribution. Manufacturers in this context refer to companies engaged in the production and handling of material handling equipment. A manufacturer is an entity, whether an individual or a registered corporation, involved in the creation of finished goods from raw materials for profit. Various products in this category include cranes and lifting equipment, industrial trucks, continuous handling equipment, and racking and storage equipment. These material handling equipment types are utilized across diverse industries such as automotive, food and beverages, chemical, semiconductor and electronics, e-commerce, aviation, pharmaceuticals, and others.

The material handling equipment market research report 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.

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.


This product will be delivered within 3-5 business days.