Material Handling Equipment Market - Anticipated to grow at a CAGR of 6.6% to 2026

The global Material Handling Equipment market is estimated to generate USD 26.2 billion in 2017 and is anticipated to grow at a CAGR of 6.6% during the forecast period according to a new study published by Polaris Market Research.

Material handling equipment assists in movement, protection, and storage of materials and products in manufacturing, warehousing, distribution, consumption and disposal. Material handling equipment is available in manual, semi-automated and automated options. Use of material handling equipment enables efficient inventory management, production planning, forecasting, resource allocation, and process management among others. Material handling equipment reduces workforce costs, increases cost efficiency, enhances accuracy, and increases speed of operations.

In 2017, Europe generated the highest revenue in the material handling equipment market owing to increasing need of process automation in diverse industries such as automotive, aerospace, electronics and pharmaceutical in the region. The growing need to reduce the operational cost and increase effectiveness, along with technological advancements has increased the adoption of material handling equipment in the region.

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The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Material Handling Equipment Market. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

There has been an increasing demand of material handling equipment owing to increasing automation of processes in businesses. Organizations are significantly investing in material handling equipment to improve efficiency and reduce human errors, thereby supporting market growth. The increasing need to reduce overall operation cost, and reduce human labor has increased the adoption of material handling equipment. Growing adoption in small and medium businesses, and technological advancements support the growth of the material handling equipment market.

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The leading companies profiled in the material handling equipment market report include KUKA AG, Swisslog AG, Kion Group, Beumer Group, Intelligrated Systems Inc., Clark Material Handling International, Daifuku Co., Ltd., Crown Equipment, Bastian Solutions, LLC, Columbus Mckinnon, Toyota Industries Corporation, and Dematic GmbH & Co. Kg.

Competitive Landscape and Key Vendors

The global material handling equipment market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.