Material Handling Equipment Market Size, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Material Handling Equipment Market


The global Material Handling Equipment market size is projected to reach US$ 45.06 billion by 2026, from US$ 30.36 billion in 2020, at a CAGR of 6.8% during 2021-2026. Rising demand for incorporation of automation and modernization in manufacturing processes, expansion of the aviation industry and e-commerce industry, and demand for transparency in supply chain and flexibility in warehouse operations are some of the factors expected to drive the growth.

Material handling equipment is used in warehouses for managing the storage and transportation of good and products. It ensures improved productivity by enhancing logistics at warehouses and manufacturing plants. These products offer cost-effective, process efficient, and an accurate method for the swift transition of goods across the manufacturing plants and warehouses, resulting in increased demand.

Material handling is a crucial intermediary in the manufacturing sector. Although it does not directly contribute to the production of goods, it leads to efficiency in handling, managing, storing, and transporting goods. This equipment complements the production activity by ensuring a swift, smooth, and efficient circulation of goods thereby, resulting in the increased demand for the equipment over the forecast period.

Rise in industrial and infrastructural activities to fulfil the demand from the ever-growing population, is anticipated to bode well for market growth. Manufacturing and other industries incessantly attract huge amounts of foreign capital, thus augmenting the production activities. Governments across the world are increasing their infrastructural development to build new airports, rail networks, seaports, and power plants, and upgrade the prevailing ones. All these activities are simplified by using material handling equipment such as forklifts, conveyors, and Automated Guided Vehicles (AGVs).

Rising employer inclination towards employee or worker safety is also expected to fuel growth of the material handling market. Thus, owing to the rise in industrial activities, industrialists have become more responsible for worker and workplace safety to maintain their goodwill in the market. As more companies are inclining toward automation to sustain the competition, encourage efficiency in the warehouse, and cut down costs, they are striving to build a safer working environment for employees. Thus, improving working and safety conditions is an integral part of their industrial activities, which is expected to remain a major growth avenue for this market.

Market Segmentation, Outlook & Viewpoint: Global Material Handling Equipment Market

Product Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Storage and Handling Equipment
  
Automated Storage and Retrieval System
  
Industrial Trucks
  
Bulk Material Handling Equipment
  
Others

End Use Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Automotive
  
Food & Beverages
  
Chemical
  
Semiconductor & Electronics
  
E-Commerce
  
Aviation
  
Pharmaceutical
  
Others

Key Players, Recent Developments & Regional Insights: Global Material Handling Equipment Market

The products segment has been segregated into storage and handling equipment, automated storage and retrieval system, industrial trucks, bulk material handling equipment, and others. The automated storage and retrieval system segment is anticipated to expand at the highest CAGR of over 5.0% over the forecast period, owing to growing adoption of robotic systems, conveyor systems, and AGVs in warehouses and manufacturing units.

Meanwhile, the storage and handling equipment are used to buffer or hold materials when they are not being transported. They are used for temporary storage and long-term storage. Thus, the demand for pallets, shelves, and racks is anticipated to rise over the forecast period. Furthermore, industrial trucks segment held the largest market share of over 30.0% in 2018 and is anticipated to witness significant growth over the forecast period. This is attributed to the technological advancements and emergence of automated solutions such as tracking and monitoring solutions in the industrial trucks.

End Use Insights

The end use segment has been segregated into automotive, food and beverages, chemical, semiconductor and electronics, e-commerce, aviation, pharmaceuticals, and others. The e-commerce segment held the largest market share exceeding 15% in terms of revenue in 2018, and is anticipated to expand at the highest CAGR of over 8% over the forecast period.

Meanwhile the food and beverages segment is anticipated to register a CAGR of over 5.0% over the forecast period. The rising need for handling, storing, and transporting materials within the factory for efficient manufacturing and packing of materials is anticipated to spur the equipment sales over the forecast period. Similarly, the aviation segment is anticipated to exceed USD 2.00 billion by 2018. Baggage handling systems, check-in systems, and other automation solutions incorporated in airports is expected to spur the sales.

Regional Insights

Europe held the largest market share in 2018 and accounted for over 30.0% owing to huge investments made by governments for the adoption of innovative solutions coupled with rising adoption of automation by several players. For instance, Toyota Industries Corporation launched two new automated shuttle solutions in the Europe market known as Toyota Autoshuttle and Toyota Radioshuttle. These shuttles are pallet carriers and are suitable for carrying heavy goods and ensures no goods damage.

Meanwhile, North American is projected to witness significant growth over the forecast period, attributed to the rising demand for automated material handling equipment. Increasing awareness pertaining to employee safety, accuracy and effectiveness in managing bulk materials, along with adequate usage of space, and the emergence of integrated Industry 4.0 with IoT is expected to positively impact the regional growth.

Material Handling Equipment Market Share Insights

The market is highly consolidated and characterized by high competition with the presence of major global players such as BEUMER Group; Intelligrated Systems Inc., Kion Group AG; Toyota Industries Corporation; and Murata Machinery Ltd.; among others. These companies are engaged in introducing innovative products to enhance their market presence and expand their geographical reach.

For instance, in November 2018, BEUMER Group launched an automated sortation system at Whistl Ltd. super depot in Bolton, U.K., Whistl Ltd. a doordrop delivery management company. The automated sortation system at Whistl Ltd. is known as automated cross-belt loop sorter. This automated cross-belt loop sorter ensures faster sortation of parcels and packets. This was a initiative undertaken by BEUMER Group to enhance its market presence in U.K. and also support Whistl Ltd. to offer effective processing of parcels and packets.

Similarly, various companies are engaged in mergers and acquisitions and collaborations or partnerships to enhance their market presence and expand their product portfolio. For instance, in February 2017, Toyota Industries Corporation announced the acquisition of Bastian Solutions LLC. The latter is based in U.S. and is engaged in developing software for material handling systems. Through this acquisition, Toyota Industries Corporation expects to strengthen its market presence in North America by engaging into large scale projects across the region.

Key Insights Covered: Global Material Handling Equipment Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Material Handling Equipment industry.
2. Global major manufacturers" operating situation (sales, revenue, growth rate and gross margin) of Material Handling Equipment industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Material Handling Equipment industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Material Handling Equipment industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Material Handling Equipment industry.

Research Methodology: Global Material Handling Equipment Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other