"We Envision Growth Strategies Most Suited
to Your Business"

Material Handling Equipment Market to Grow at a CAGR of 5.7% During 2022-2029; Rapid Industrialization & Commercialization to Bolster Market Growth

July 21, 2022 | Machinery & Equipment

The global material handling equipment market size was USD 206.50 billion in 2021. The market is projected to grow from USD 216.18 billion in 2022 to USD 319.63 billion by 2029 at a CAGR of 5.7% during the 2022-2029 period.


Fortune Business Insights™ publishes this information in its report titled, "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."


Restricted Workforce Amid Pandemic Hampered Market Growth


The outbreak of COVID-19 pandemic affected numerous industries globally. Governments imposed strict restrictions on import/export activities to control the virus spread. Also, the employees were instructed to work at 50% capacity, hampering the overall business performance during the initial lockdown phase. The disruptions in the supply chain and interrupted manufacturing operations affected the material handling equipment market growth during the pandemic.  


Daifuku Co., Ltd. Partnered with AFT Industries AG to Improve Business Performance


Daifuku Co., Ltd. and AFT Industries AG formed a partnership to enhance their business performance and develop their experience in material handling equipment in the automobile sector. Also, the companies aim to expand their business globally by focusing on potential target customers from different industries. These factors will allow companies to propel growth and improve their business portfolio.


Rising Industrialization & Commercialization to Foster Growth


The market is expected to gain traction during the forecast period due to various industries' surging robotics and process automation. The increasing industrialization and commercialization in developed and developing countries are expected to foster market growth. Furthermore, increasing the adoption of online shopping and changing consumer preferences are major growth factors. Also, increasing e-commerce and logistics industries are anticipated to bolster the market growth in the coming years.


Business Partnerships Allow Companies to Strengthen their Market Position


The leading market players focus on expanding their business worldwide by adopting various business growth strategies. Also, implementing innovative product development ideas to launch new products allow companies to attract customers. These strategies include forming a partnership and acquiring supporting companies.


Notable Industry Development:



  • February 2021: Daifuku Co., Ltd. and AFT Industries AG, based in Germany, have agreed to develop a business partnership to utilize both companies' experience in material handling equipment in the automobile sector.


List of Key Players Covered in the Report:



  • Daifuku Co., Ltd. (Japan)

  • Liebherr Group (Switzerland)

  • Schaefer System International Ltd. (Germany)

  • Toyota Industries Corporation (Japan)

  • Beumer Group (Germany)

  • Jungheinrich AG (Germany)

  • Godrej Group (India)

  • Kion Group AG (Germany)

  • Action Construction Equipment Ltd. (India)

  • Hyster-Yale Materials Handling, Inc. (U.S.)


Further Report Findings:


Asia Pacific is expected to exhibit a higher CAGR during the forecast period due to increasing development in construction activities in developing countries. Also, the regional market registered USD 89.35 billion in 2021. The region is expected to dominate the global material handling equipment market share in the coming years.


Based on equipment type, the market is categorized into transport equipment, positioning equipment, storage equipment, and others (unit load formation equipment, identification, and control equipment). Transport equipment is further divided into sub-segments such as conveyors (roller, chain, wheel, vertical belt, screw conveyor, and inclined belts), cranes (jib cranes, bridge cranes, gantry cranes, hammerhead, telescopic, and crawler), industrial trucks (hand trucks, pallet trucks, lift truck, and others), hoppers, and reclaimers. The positioning equipment segment is sub-segmented into dock levelers, hoist, and others. The storage equipment segment is further segregated into automatic storage/retrieval system, selective pallet rack, and others. The transport equipment segment is expected to dominate the global market due to its high durability and efficiency.


Table of Segmentation:

















































 ATTRIBUTE

  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD billion)



Segmentation



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




Material Handling Equipment Market
  • PDF
  • 2021
  • 2018-2020
  • 160

    CHOOSE LICENSE TYPE

  • 4850
    5850
    7850

Our Clients

Nikon
Siemens Healthineers
Fujitsu
Citibank
Itic
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X