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Material Handling Equipment Market Size, Share & COVID-19 Impact Analysis, By Equipment Type (Transport Equipment, Positioning Equipment, Storage Equipment, Others (Unit Load Formation Equipment, Identification, and Control Equipment), By Industry (Consumer Goods & Electronics, Automotive, Food & Beverages, Pharmaceutical, Construction, Mining, Semiconductors, Others (Aviation, Chemicals), and Regional Forecast, 2022-2029

Region : Global | Format: PDF | Report ID: FBI101501



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The global material handling equipment market size was valued at USD 206.50 billion in 2021 and is projected to grow from USD 216.18 billion in 2022 to USD 319.63 billion by 2029, exhibiting a CAGR of 5.7% during the forecast period. Based on our analysis, the global market exhibited an average growth of 4.5% in 2020 as compared to 2019.

Material Handling Equipment (MHE) is a mechanical equipment used to transport, store, regulate, and protect materials, commodities, and outputs during the manufacturing, consumption, disposal, and distribution processes. Transportation equipment, positioning equipment, storage equipment, and others (unit load formation equipment, identification, and control equipment) are the four primary categories of material handling equipment available.


Supply Chain & Manufacturing Activities Interruption Slowed Down the Market Growth During COVID-19 Pandemic

Post the outbreak of COVID-19 across major economies around the globe, most of the leading market players registered a considerable decline in their revenue generations and have subsequently witnessed a reduction in their profit margins. The abrupt closure of the manufacturing facility affecting the rate of daily output from the production facilities played a pivotal role in plummeting sales of these market players.

Additionally, restrictions during the initial phase of the pandemic and stringent Standard Operating Procedure (SOP) guidelines post lockdowns affected the standard supply chain of the market. The complete breakdown of the supply chain increased the inability of the market players to continue the streamlined supply of their products within the market.

The pandemic brought manufacturing facilities of major market players to a sudden halt for a brief period, creating a considerable supply-demand gap curtailing the possible market growth. The reduction in the cash liquidity compelled manufacturers to reduce investments in the research and development division, restricting the introduction of new products integrated with novel technologies and limiting product diversity.


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Surging Robotics and Process Automation to Propel the Market

The adoption of robots in the material handling equipment industry has evolved operations and productivity, as shown during the previous decade. Manufacturing facilities are trying rapidly to create high-quality goods with fewer resources in the supply chain. The high demand for these equipment is further enhancing the producers to have upgraded supply systems. Finally, the COVID-19 pandemic has demonstrated how rapidly material handling organizations must be prepared to pivot if inventory, sourcing, labor, and other factors interrupt operations. Automated procedures are a vital technique to react fast and boost productivity.

This market has undergone a technological boom, from conveyor belts to driverless forklifts. As the usage of robots grows, more automation will be used across the supply chain. This automation will significantly influence many parts of the supply chain, including personnel and warehouse management strategies as well as quick processing. Hence, the rising process automation further contributes to the material handling equipment market growth.


Increasing E-Commerce and Logistics Industries to Bolster the Market

Customization is at an all-time high as online shopping happens at a quicker rate than ever before. Customized systems and mining equipment will become more common, assisting the industry's growth despite the fact that a slight drop in demand in industrial use cases in 2020 and enormous development in the e-commerce market have aided the MHE industry's growth despite the pandemic. During the worldwide lockdowns, there was a healthy demand for grocery delivery and distribution, giving manufacturers higher expectations.

Additionally, the e-commerce industry is flourishing worldwide, which necessitates a lot of automation. Amazon, Walmart, and other large retailers are gradually introducing automated technology into their operations to make them more precise, efficient, secure, and cost-effective. Apart from that, the improvement of the manufacturing industry is a major factor in developing the market of material handling equipment.


High Initial Cost Involved for Purchasing & Maintaining to Hamper the Market

The high initial costs of integration, procurement, installation, accessories, programming, and other services are restricting the market growth. This constraints businesses, particularly Small and Medium-sized Enterprises (SMEs). As a result of the low-volume manufacturing & delayed Return on Investments (ROI), many businesses find it difficult to raise huge amounts of cash. High maintenance costs are also a stumbling block to the expansion of the global market.

The expense of software upgrades, replacement of various parts and other devices, and rising ownership costs contribute to the market's slowdown, further limiting the growth of material handling equipment.


By Equipment Type Analysis

Transport Equipment to Show Major Growth Owing to Durability

By equipment type, the market is divided into transport equipment, positioning equipment, storage equipment, and others (unit load formation equipment, identification, and control equipment). 

Transport equipment segment is anticipated to hold the highest CAGR during the forecast period. It is owing to its utilization of transferring material from one site to another (for example, from a loading dock to a storage facility). This type of equipment is used to handle material in a single spot. Conveyors, cranes, industrial trucks & others (hoppers, reclaimers) are some of the major pieces of equipment that are being widely used across various industries.

Whereas position equipment is experiencing major growth in the future. This kind of equipment is used to manage the material in a single spot. It could be used to orient, load/unload, feed, or otherwise handle items at a workplace so that they are in the proper position for future machining, handling, storage, or transport. This equipment further includes a dock leveler, hoist & others, i.e., rotary index table, lift/tilt/turn table, parts feeder, balancer.

Furthermore, storage equipment is expected to witness progressive growth in the coming years. The materials are held or buffered in storage equipment for a significant period of time. The design of each form of storage equipment, as well as its use in warehouse design, reflects a trade-off between decreasing material handling costs by making it conveniently accessible and increasing space usage (or cube). Automatic storage/retrieval system, selective pallet rack, and others (sliding racks, stacking frames, push-back racks) are key systems mainly used under storage equipment.

By Industry Analysis

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Construction Industry to Hold Highest CAGR Owing to Restructuring Activities

By industry, the market is distributed into automotive, consumer goods & electronics, pharmaceutical, food & beverages, mining, construction, semiconductors, and others.

The construction industry is booming due to significant building and restructuring initiatives in both developed and emerging economies. Furthermore, government initiatives for infrastructure development and enormous investment in the real estate industry are helping to drive the market ahead.

The rise of the automotive industry is fueling the surge in demand for material handling equipment. Manufacturers are concentrating on refining the assembly process to minimize turnaround time and implementing lean management to produce the car on time. In such situations, the flow of spares and other components is critical for the proper operation of the process, which increases the equipment's potential in the market.

In addition, the consumer goods & electronics segment is expected to have a substantial rise over the forecast period. The growth is attributed to the utilization of these equipment in the processing & packaging of consumer products. This equipment inspects the quality & integrity of a product & then guides the robotic pick & place of packages.

Additionally, the pharmaceutical industry is anticipated to witness considerable growth in the coming years, owing to the government's increased focus on improving healthcare access. Governments are projected to be pharma businesses' principal point of contact in emerging countries, with public-private cooperation in manufacturing and R&D enhancing the prospects of winning state drug contracts.

Furthermore, the semiconductor and mining industries are expected to increase at a moderate rate due to the growing population, demand for precious metals, regulatory regulations to manage hazardous chemicals and composition, and the rising automation sector.


Asia Pacific Material Handling Equipment Market Size, 2021 (USD billion)

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The report's scope comprises five major regions, North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

The Asia Pacific market is estimated to exhibit a notable CAGR. The growth of the market is attributed to robust economic progress of India, China, and certain countries within ASEAN, with cumulative development of the market in Asia Pacific. Also, numerous customers' efforts and hefty investments toward enhancing their existing delivery centers and warehousing infrastructure are increasing the material handling equipment market share globally.

Furthermore, China is witnessing phenomenal growth in the industry. The country is a manufacturing hub for the equipment industry. China is estimated to hold the highest market share as a result of tremendous opportunities for the handling equipment manufacturers in the automotive manufacturing sector and the establishment of numerous manufacturing clusters in the country, which is propelling the growth of the construction sector.

The North America market is anticipated to have a major growth during the forecast period. The market growth initially derailed due to the outbreak of COVID-19 Pandemic, but the market slowly regained its growth pace & grew steadily. The strong presence of prominent companies in the region is also aiding the growth of the market. Additionally, these companies' indirect attempts in terms of technological advances, strategic alliances, acquisitions, collaborations, and joint ventures are further contributing toward the market growth of material handling equipment.

Additionally, the European market initially experienced moderate growth, but for a long period, it is estimated to grow progressively over the forecast period. The major determining factor of rising demand is a requirement of an efficient, streamlined and flexible supply chain structure for better operations. Moreover, the increasing demand for these products in the construction industry hinges on the increasing infrastructural projects with the demand for new equipment.

Whereas the Middle East & Africa region is witnessing a steady growth in this market. Due to the developing infrastructure projects, the industrial application is expected to grow at a higher pace, with the increasing demand for this equipment across the region.

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Latin America is projected to grow moderately compared to other regions, owing to less presence of the players in the geography. The construction and supply chain development and management sector have observed a slow growth over the past few years, owing to moderate infrastructure investments.


Major Players Focusing on Expansion Strategies to Strengthen their Market Positions

Manufacturers are focusing on adopting various marketing strategies such as collaboration and mergers & acquisitions with other logistics solution businesses to attain a considerable position in terms of comprehensive strength. Key players are consistently providing a variety of specialized machines, such as cranes, industrial trucks, and others, and material handling technologies to their end-users across the countries to deeply penetrate into the market.



  • July 2021 - In Kolbaskowo, Poland, KION GROUP AG constructed an industry-leading industrial truck manufacturing. The factory, which is part of the KION Industrial Trucks & Services sector, manufactures counterbalance trucks for all brands. The firm is concentrating on expanding its European production locations and catering to consumers across the EMEA area as a result of this.

  • April 2021 - Jungheinrich expanded its product line by launching the new tugger train system, i.e., LiftLiner, which allows carts to be unloaded & loaded from mutual sides. To achieve this goal, the company is working with K. Hartwall, a Finnish logistics solutions firm with a long history of supplying load carriers.

  • April 2021 - Godrej Material Handling, a division of the Godrej Group, introduced the 'Uno Electric Forklift Truck,' which has modern ergonomics, enhanced visibility, increased safety, and a lengthy runtime on each charge.

  • December 2021 – A new forklift truck plant was opened by KION Group in China to offer a supply chain solution. This plant is equipped with a volume of almost 140 million for future production of supply chain solutions and industrial trucks in Jinan.

  • August 2021 – In Japan, Toyota material handling introduced an operation assists system SenS+ that senses and differentiate pedestrians and objects behind the forklift and accordingly powers the speed of travel and stops the backward motion of the truck.


An Infographic Representation of Material Handling Equipment Market

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The research report provides a detailed analysis of the types, applications, and industries. It provides information about leading companies and their business overview, types, and leading applications of the product. Besides, it offers insights into the competitive landscape, SWOT analysis, current material handling equipment market trends, and highlights key drivers and restraints. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the market's growth in recent years.

Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period



Value (USD billion)


By Equipment Type, Industry, Region

By Equipment Type

  • Transport Equipment

    • Roller

    • Chain

    • Wheel

    • Others (Vertical, Screw Conveyor, Inclined Belt)

    • Jib Cranes

    • Bridge Cranes

    • Gantry Cranes

    • Others (Hammerhead, Telescopic, Crawler)

    • Hand Trucks

    • Pallet Trucks

    • Lift Truck

    • Others (Pallet Jacks, Side Loaders, Walking Stackers)

    • Conveyors

    • Cranes

    • Industrial Trucks

    • Others (Hoppers, Reclaimers)

  • Positioning Equipment

    • Dock Leveler

    • Hoist

    • Others (Rotary Index Table, Lift/Tilt/Turn Table, Parts Feeder, Balancer)

  • Storage Equipment

    • Automatic Storage/Retrieval System

    • Selective Pallet Rack

    • Others (Sliding Racks, Stacking Frames, Push-back Racks)

  • Others (Unit Load Formation Equipment, Identification, and Control Equipment)

By Industry

  • Consumer Goods & Electronics

  • Automotive

  • Food & Beverages

  • Pharmaceutical

  • Construction

  • Mining

  • Semiconductors

  • Others (Aviation, Chemicals)

By Region

  • North America (By Equipment Type, By Industry)

    • U.S. (By Industry)

    • Canada (By Industry)

  • Europe (By Equipment Type, By Industry)

    • Germany (By Industry)

    • Italy (By Industry)

    • France (By Industry)

    • Spain (By Industry)

    • U.K. (By Industry)

    • Rest of Europe

  • Asia Pacific (By Equipment Type, By Industry)

    • China (By Industry)

    • Japan (By Industry)

    • India (By Industry)

    • Southeast Asia (By Industry)

    • Rest of Asia Pacific (By Industry)

  • Middle East & Africa (By Equipment Type, By Industry)

    • GCC (By Industry)

    • South Africa (By Industry)

    • Rest of Middle East and Africa

  • Latin America (By Equipment Type, By Industry)

    • Brazil (By Industry)

    • Mexico (By Industry)

    • Rest of Latin America

Frequently Asked Questions

Fortune Business Insights says that the market was valued at USD 206.50 billion in 2021.

In 2029, the market is expected to be valued at USD 319.63 billion.

Asia Pacific is expected to hold a major market share in the market. The region stood at USD 89.35 billion in 2021.

Within the equipment type segment, transport equipment is expected to be the leading segment in the market during the forecast period.

Increasing e-commerce and logistics industries to propel the market growth.

Daifuku Co., Ltd., Liebherr Group, Schaefer System International Ltd., Toyota Industries Corporation, Beumer Group, Jungheinrich AG, Godrej Group, Kion Group AG, Action Construction Equipment Ltd., and Hyster-Yale Materials Handling, Inc.

The construction industry is expected to drive the market.

The major players in the market constitute approximately 12%-15% of the market which is majorly owed to their brand image and presence in multiple regions.

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