FMI estimates that by 2023, material handling equipment market could reach USD 4,411.5 million, and forecasts a compound annual growth rate (CAGR) of 4.5% over the next decade, with the total market value expected to reach USD 6,555.9 million by 2033.
The increasing adoption of intelligent manufacturing techniques and industrial automation has made advanced material-handling machinery essential for process optimization, productivity enhancement, and reducing manual labor. Government investments in infrastructure development, particularly in emerging economies, have further boosted the use of material handling equipment to improve transportation and warehousing efficiency.
Additionally, the rapid expansion of e-commerce and the logistics sector has led to a rising demand for material handling equipment to manage and move goods efficiently within fulfillment centers and distribution hubs. Growing attention to sustainability has also increased the demand for energy-efficient equipment, encouraging manufacturers to prioritize eco-friendly solutions in the market.
Key Takeaways:
- The North American region dominated the global market with an overall global market share of 27.3% in 2022. Likewise, the regional market in the United States alone captured a global revenue share of 16.9% that year. So, the manufacturers in the United States are in an advantageous position to establish market trends and achieve consistent growth in the global market.
- The regional markets in Europe contributed to nearly 23.4% of the total revenue generated by the global market in 2022. With a robust industrial base, Germany is the prominent country for producing material handling equipment, with a 6.2% global market share in 2022. Meanwhile, the United Kingdom regional market is projected to witness an annual growth rate of 3.5% through 2033.
- There is expected greater growth and competition in the Asia Pacific market as the need for material handling equipment is surging with rapid industrialization. China and India, for instance, are poised to witness annual growth rates of 5.1% and 5.5% respectively over the next ten years.
Competitive Landscape for the Material Handling Equipment Market Key Players:
- Liebherr,
- KION,
- Jungheinrich,
- Viastore,
- WITRON Logistik,
- Eisenmann,
- Beumer Maschinenfabrik,
- Jervis B. Webb,
- Columbus McKinnon,
- Hyster-Yale,
- Hytrol,
- Manitowoc,
- Xuzhou,
- Toyota
Key Segments Covered in the Material Handling Equipment Industry Analysis
By Product Type:
- Conveying Equipment
- Industrial Trucks & Lifts
- Hoist
- Cranes & Monorails
- Automated Material Handling Equipment
By End Use:
- Aerospace
- Agriculture
- Air Cargo
- Automotive
- Building and Construction
- Electrical & Electronic Equipment
- Industrial Machinery
- Shipping Industry
- Warehousing
- Postal/Express Delivery
- Other industries
By Region:
- North America Material Handling Equipment Market
- Latin America Material Handling Equipment Market
- Europe Material Handling Equipment Market
- Asia Pacific Material Handling Equipment Market
- Middle East & Africa Material Handling Equipment Market
Report Preview: https://www.futuremarketinsights.com/reports/material-handling-equipment-market
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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