Material Handling Equipment Market Extensive Growth,Demand,Revenue,Outlook 2026
The
global Material Handling Equipment market is anticipated to reach USD 46.2
billion by 2026.
“Material Handling Equipment Market was estimated at 26.2 billion in 2017 and
is anticipated to grow at a CAGR of 6.6% during the forecast period. Material
handling equipment includes tools, vehicles, storage units, appliances and
accessories, which are used for transporting, and storing of products.”
There has been an increasing adoption
of material handling equipment across the world owing to growing manufacturing
industry. The increasing need for efficient warehouse operations, and
increasing automation of manufacturing processes further supports the Material
Handling Equipment market growth. Other factors driving the growth of this
market include growth in the global automotive industry, reducing availability
of labors, and increasing labor costs. Increasing demand of material handling
equipment in chemical, pharmaceutical, electronics, and food and beverage
industries has created the need to develop new innovative products for
diversified application areas in these sectors. However, high initial
investment restricts the growth of the material handling equipment market.
Growing demand from emerging economies, and technological advancements are
factors expected to provide numerous growth opportunities in the market during the
forecast period.The global Material Handling Equipment market is segmented on
the basis of type, application, end-user, and region. Based on the type, the
market is segmented into storage & handling equipment, industrial trucks,
bulk material handling equipment, and others. The application segment is
divided into assembly, storage, packaging, transportation, and others. The
end-users include automotive, electronics, chemical, pharmaceutical, aviation,
and others.In 2017, Europe generated the highest revenue in the Material
Handling Equipment market. The increasing automation in the manufacturing
sector, and the established automotive industry drive the growth of this
market. Growing cost of labor, and limited availability of labor further
support market growth. Increasing investments and subsidies by governments are
expected to boost the adoption of material handling equipment in the region.
Increasing need to improve efficiency and productivity along with increased
industrialization and automation further supplements market growth.
Asia-Pacific is expected to grow at the highest CAGR in during the material
handling equipment market during the forecast period
The well-known 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. These companies launch new products and collaborate with other market
leaders to innovate and launch new products to meet the increasing needs and
requirements of consumers.
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The Material Handling Equipment Market
is segmented on the basis of type,
application, end-user, and region. Based on the type, the market is segmented
into storage & handling equipment, industrial trucks, bulk material
handling equipment, and others. The application segment is divided into
assembly, storage, packaging, transportation, and others. The end-users include
automotive, electronics, chemical, pharmaceutical, aviation, and others.
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The overall Material Handling
Equipment Market size has been derived using both primary and secondary
sources. The research process begins with exhaustive secondary research using
internal and external sources to obtain qualitative and quantitative
information related to the Material Handling Equipment Market. Also, multiple
primary interviews were conducted with industry participants and commentators
to validate data and analysis. The participants who typically take part in such
a process include industry expert such as VPs, business development managers,
market intelligence managers, and national sales managers, and external
consultants such as valuation experts, research analysts, and key opinion
leaders specializing in the Material Handling Equipment Market.
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