The material handling equipment market size is expected to hit USD 46.38 billion by 2030 and expanding growth at a compound annual growth rate (CAGR) of 7.5% from 2021 to 2030.
London, Nov. 23, 2021 (GLOBE NEWSWIRE) -- According to Precedence Research, The global material handling equipment market size was reached at USD 26.5 billion in 2020. The material handling equipment is mechanical automated equipment used for storage, controlling, and managing of materials and goods. It is used in the industry for handling the operations such as manufacturing, shipping, packaging and distributing, based on these operations they are categorized as positioning equipment, unit load formation equipment, transport equipment and storage equipment. For arranging the goods and materials, sortation conveyor system is one of the best equipment used in the sector. Shipping is the primary application in the material handling equipment market.
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Crucial factors accountable for market growth are:
Rapid growth of ecommerce industry fosters the market growth.
Development of public infrastructure accelerates the market growth.
Favorable Government initiatives create huge growth opportunities.
Market Size in 2020
USD 26.5 billion
Growth Rate From 2021 to 2030
CAGR of 7.5%
Fastest Growing Market
BEUMER Group, Daifuku Co., Ltd., Swisslog Holding AG, Honeywell International Inc., Kion Group AG, Mecalux, S.A, Toyota Material Handling Group, Murata Machinery Ltd., SSI Schaefer AG, and Vanderlande Industries B.V.
Europe is expected to grow remarkable during the forecast period and is anticipated to contribute more than 34.5% of the market share owing to the adoption of advanced products to support large-scale industrial presence in the region. For instance, On 29th September 2021, Yari, an Inclusive cosmetics distributor announced that it is implementing the Easy WMS warehouse management system from Mecalux in its facility in BerkelenRodenrijs, Netherlands. This solution will help Yari to boost picking and control all its stock in real time.
The industrial trucks Product segment is expected to lead the market contributing more than 30.5% of the revenue share in the upcoming years.
The e-commerce end use segment of the Material Handling Equipment Market is estimated to lead the market with a market share of more than 23.4% in 2020.
By Geography, Europeholds a significant share accounting for more than 34.5% in 2020 in the Material Handling Equipment Marketin terms of revenue share because of the adoption of advanced products to support large-scale industrial presence in the region.
The significant growth of the ecommerce sector is expected to drive the market growth. Furthermore, during the COVID-19 pandemic in order to follow the social distancing norms, lockdowns, and other measures consumers opted for online shopping and this attribute fueled the growth of Material Handling Equipment Market. For instance, On 19th July 2021, Swisslog Holding AG announced that it is maximizing the Synergies of Co-locating a Micro-fulfillment centers within the Retail Environment.
The major restraining factor that will negatively impact the growth of the Material Handling Equipment Market includes the high upfront cost involved in the installation of Material Handling Equipment.
As there is huge growth in the ecommerce sector, the ecommerce companies find it difficult in processing complex orders for customized and personalized products through manual process. Therefore, the ecommerce company’s desire for installing Material Handling Equipment for handling the complex orders and this factor will generate huge growth opportunities that will drive the growth of Material Handling Equipment Market.
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On 20th August 2021, The BEUMER Group has announced plans to expand in the United States. In Denver, Colorado, it will open a new office. The new facility in Denver is ideally positioned to make it easy to contact all consumers. This new facility will primarily manage projects in the mining and airport industries.
On 11th February 2021, Murata Machinery Ltd. has announced the introduction of warehouse automation solutions such as transport: automated guided vehicles (AGVS), storage: automated storage and retrieval systems (AS/RS) and picking: automated sorting & sequencing.
On 23rd July 2021, BEUMER Group report that it will present efficient system solutions with overland conveyors, Pipe Conveyors and ship loaders at MINExpo 2021, the international tradeshow platform for the mining industry.
On 15th July 2021, Swisslog, a global pioneer in robotic and data-driven intralogistics solutions, has announced a partnership with Temasek Polytechnic (TP) to establish the Intralogistics Automation System (IAS) at TP's Advanced Manufacturing Centre (TP AMC). Through interactions with Swisslog Smart Intralogistics technology, this cooperation aims to improve student learning and upskill adult learners.
Segments Covered in the Report
Storage and Handling Equipment
Automated Storage and Retrieval System
Bulk Material Handling Equipment
By End Use
Food & Beverages
Semiconductor & Electronics
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