Global Material Handling Equipment Market: Industry Analysis and Forecast (2018-2026)

Global Material handling equipment market was valued US$ 138.46 Bn in 2017 and is anticipated to reach US$ 233.81 Bn in 2026 at a CAGR of 6.77 % throughout the forecast period. Material handling systems are gaining popularity with the growing inclination of industries to replace human labor with automated systems. Growing automation abilities in the manufacturing space coupled with increasing penetration of advanced technologies, such as IoT, RFID, and AI, are likely to drive the material handling equipment market growth.

Booming industrial sector across globe and the safety concerns at workplaces, especially in industries such as automotive, food & beverage and metal & heavy industries. Also, efficient distribution and production of materials majorly in the e-commerce industry, is fueling the growth of the material handling equipment market in the region. Ongoing shift toward use of more expensive and advanced machinery at the expense of conventional models to add opportunity to Material handling equipment. Real-time technical challenges in the operation of these systems with the requirement of high capital investment are anticipated to negatively impact the material handling equipment market. The complexions included in the integration of hardware and software for manufacturing facilities is restricting companies that have budgetary constraints from adoption. Moreover, cyber security threats are also factors limiting the market growth. Industrial truck and forklifts segment held the major share in the material handling equipment market. Industrial truck and forklifts are the conjoined part of major manufacturing plant as they carry heavy load on the shop floor much faster than human material handlers. Industrial truck and forklifts fascinates inventory control and warehouse management. Conveyors closely followed industrial truck and forklifts in terms of revenue. Conveyors are the most common material handling system available and an essential component for material transition within the all scale manufacturing unit.

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Other equipment like cranes & hoist, pallets, racks, and shelves also held a considerable share in the overall market. While, automated material handling equipment is figured as the the fastest growing equipment. Manufacturing & processing dominated the material equipment handling market in 2017. Among, end-use industry segment, manufacturing & processing and automotive industry compete each other closely for the majority of market share. While, transportation & logistics is estimated to exhibit the fastest CAGR in material handling equipment market. Growing global trade and robust growth of e-commerce depends heavily on material handling equipment market. Asia Pacific to Reign Supreme over North America and Europe in terms of market value. Presence of developing countries and high concentration of automotive and manufacturing process units has capped Asia Pacific as the leading region in material handling equipment market. Countries such as China, India, South Korea, and Taiwan among other witnessing an incredible growth in their manufacturing capacities and are acquiring more material handling methods for enhancing their production capabilities. North America as one of the earliest to adopt automated material handling equipment is now following Asia Pacific and industrial automation is growing at a sharp pace in this region. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology.

The report also helps in understanding material handling equipment market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in material handling equipment market.

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