Material Handling market is projected to expand at a CAGR of 4.31% to reach a total market size of US$161.606 billion by 2022, from US$128.358 billion in 2017. Growing adoption of industrial automation solutions across various end-use industries is one of the major factors driving the growth of global material handling market. Owing to booming e-commerce industry, rising investments by manufacturers in the installation of various equipment at distribution centers and warehouses is also fueling the demand for material handling products and solutions across the globe. Stringent regulations regarding workerâs safety require manufacturers to implement material handling solutions in the hazardous work environment.
- Restart your WhaTech membership at anytime. -
Material Handling market is projected to expand at a CAGR of 4.31% to reach a total market size of US$161.606 billion by 2022, from US$128.358 billion in 2017. Growing adoption of industrial automation solutions across various end-use industries is one of the major factors driving the growth of global material handling market.
Browse the full report with a table of contents: www.reportsandmarkets.com/reports/…7-to-2022-1570851
Owing to booming e-commerce industry, rising investments by manufacturers in the installation of various equipment at distribution centres and warehouses are also fueling the demand for material handling products and solutions across the globe. Stringent regulations regarding workerâs safety require manufacturers to implement material handling solutions in the hazardous work environment.
- Restart your WhaTech membership at anytime. -
By product, trucks and lifts segment accounted for the bulk of the demand for different material handling solutions in 2016. This dominance is attributed to the shift towards automated lifts and trucks due to the expensive human workforce and growing need to improve operational efficiency throughout the entire supply chain.
Increasing number of construction projects in developing countries is driving the demand for small trucks and specialized heavy lifting equipment. Moreover, booming global logistics industry will further push the market growth over the next five years.
Automated storage and retrieval systems (AS/RS) will witness the fastest growth during the forecast period owing to the increasing demand for automated machines and equipment that assist in reducing floor space, labour cost, and inventory levels to enhance productivity while reducing manufacturing cycle time.
By application, warehousing and distribution segment held the largest market share in 2016 and is projected to dominate the global market by growing at the highest CAGR during the forecast period. Growing Global Third Party Logistics (3PL) industry is significantly driving the demand for material handling solutions.
The entry of new startups in growing global e-commerce industry is boosting the demand for 3PL solutions, as they rely on other logistic enterprises as part of the supply chain. Thus, there is high demand for material handling solutions from warehousing and distribution segment of the 3PL industry to smoothen the entire supply chain.
Airport baggage handling application will also experience significant market growth due to growing global tourism industry. Increasing purchasing power and improving living standards in developing countries have led to a significant shift towards air travelling.
This has led to a rise in the number of air travel passengers which, in turn, will spur the demand for airport baggage handling solutions at airports.
By Industry Vertical
By industry vertical, the manufacturing sector is projected to dominate the global material handling market throughout the forecast period. Rising global manufacturing activities and infrastructural development, especially in developing countries, will spur the demand for material handling solutions for timely production requirements and increased productivity.
Moreover, high labour costs coupled with stringent regulations for the safer workplace is pushing manufacturers to shift from labour-intensive to capital-intensive production methods, thereby positively impacting the global material handling market growth. Healthcare sector will witness the fastest market growth over the projected period due to rising global ageing population and increasing cases of chronic diseases.
The increase in demand for various complex drugs and medicines and medical devices will require healthcare and pharmaceutical industry to opt for efficient material handling solutions.
Geographically, Asia Pacific accounted for the largest global market share in 2016 and will continue its dominance throughout the forecast period by growing at the highest CAGR. Rapid industrialization and rising manufacturing activities in developing Asian economies such as China, India, and South Korea are boosting the demand for material handling solutions.
Growing e-commerce industry in India and China due to rising use of smartphones and proliferation of internet connectivity is also fuelling the demand for material handling solutions for warehousing and distribution applications. The booming construction industry and investments in infrastructural development supported by favourable government initiatives and policies will further propel the growth of Asia Pacific Material Handling market over the next five years.
Prominent key market players in Material Handling market Liebherr, BEUMER, Kion, Swisslog Holding, Daifuku, Konecranes, and Siemens among others. The global material handling industry is highly competitive owing to the presence of a large number of international and regional market players offering a wide range of material handling machines and equipment.
This intense competition requires key players to enter a strategic partnership and implement comprehensive growth strategies to maintain their market position. Market players are also investing heavily in R&D to provide material handling machines and equipment integrated with automation and advanced technology like RFID tags and sensors.
In 2016, Kion acquired Dematic to become the worldâs leading provider of supply chain solutions with a unique and comprehensive product portfolio.
In this report, Material Handling market is segmented by product, application, industry vertical, and geography:
Automated Guided Vehicles
Automated Storage and Retrieval Systems
Trucks and Lifts
Warehousing and Distribution
Airport Baggage Handling
Postal and Parcel Delivery
By Industry Vertical
Food and Beverage
Europe Middle East and Africa
Category: Market Research Publishers and RetailersCompany profile: Reports And Markets are part of the Algoro Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Are you mastering your market? Do you know what the market potential is for your product, who the market players are and what the growth forecast is? We offer standard global, regional or country specific market research studies for almost every market you can imagine ...
For more information:Make an Inquiry about this report HERE!