Industrial, Manufacturing & Heavy Industry Market News

Material Handling Equipment market to reach at a CAGR of 5.2% by 2024

Industrial Market Research

The global material handling industry market report shows that the market size is expected to reach USD 124.5 billion, at a CAGR of 5.2% during the forecast period 2016-2024. The report discusses global material handling equipment market size, share, trends, and key vendors and growth prospects

Many major players in the e-commerce industry are installing warehouse management system (WMS) for real-time monitoring of inventory levels and to categorize the stock locations. Moreover, with the introduction of automated equipment’s and IoT, the global material handling equipment market is likely to witness demand for novel products and services over the forecast period. 

Global material handling equipment market outlook also includes new business models, product developments and capital investment as the key strategies adopted by the major players for a significant expansion of business across the globe. The global material handling equipment industry report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.

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Market Segmentation

On the basis of our in-depth analysis, global material handling equipment market can be segmented as follows:

By Product Type

  • Storage Equipment
  • Conveyor systems
  • Robotic delivery systems
  • Automatic guided vehicles (AGV)
  • Industrial Trucks & Lifts

By Applications Type

  • Storage and Retrieval
  • Transportation
  • Assembly
  • Packaging
  • Distribution

By Services

  • Software and Hardware (Installation and Up-gradations)
  • Training
  • Support and Maintenance

By End Users

  • Marine and Air Ports
  • Manufacturing Sector
  • Transportation and Logistics
  • Construction Industry
  • E-commerce

By Geography

  • North America {Market Share (%), Market Size (USD Billion)}
  • Europe {Market Share (%), Market Size (USD Billion)}
  • The Middle East and Africa {Market Share (%), Market Size (USD Billion)}
  • Latin America {Market Share (%), Market Size (USD Billion)}
  • Asia Pacific {Market Share (%), Market Size (USD Billion)}

“Global Material Handling Equipment Market Outlook 2024” contains a detailed overview of the global material handling equipment market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product, by application, by services, and by end users.

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Further, for the in-depth analysis, Global Material Handling Equipment Market Analysis encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Daifuku Co., Ltd., SSI Schaefer, Hyster-Yale Material Handling, Inc., Jungheinrich AG, KION Group AG, Toyota Industries Corporation.

The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report denotes the global material handling equipment market past and present trends along with market projections that will assist industry consultants, technology providers, existing players searching for expansion opportunities, new players examining possibilities and other stakeholders to bring into line their market-centric approaches according to the ongoing and expected trends in the future.

Key queries countered in this global material handling equipment market report

  • What is the global material handling equipment market size by 2024 and what would be the expected growth rate of sales?
  • What is the material handling equipment market trends?
  • What are the dynamics which are driving this market?
  • What are the major barriers to material handling equipment market growth?
  • Who are the prominent vendors in this market space?
  • What are the market prospects for the current and entry level players?
  • What are the latest improvements and market strategies of the key players?

Global material handling equipment market is further bifurcated in various segments with separate market analysis mentioned below: Global Automated Material Handling Equipment Market

Automated Material Handling Equipment Market state that the physical distribution or logistics goods from manufacturing plant to customers alone accounts for 25% of the product cost, which is the major factor motivating the adoption of cost-effective and efficient automated material handling equipment to confirm the quick and high productive material handling operations.  Automated material handling equipment market to expand at a CAGR of 8.2% during the forecast period 2016-2024.

Cargo Handling Equipment Market

Growing e-commerce business is lifting up cargo handling equipment market. Cargo traffic at airports and marine ports driven by the rising e-commerce business driving the growth of cargo handling equipments market.

Global cargo handling equipment market is projected to reach USD 89.4 billion by 2024, further; the market is expected to expand at a CAGR of 4.4% over the forecast period i.e. 2016-2024.

Forklift Trucks Market

Implementation of intelligent truck systems enable automation of entire material flow and increase the efficiency of warehouse by providing acceleration in product handling and shipments. Forklift trucks market was accounted for USD 36.2 billion in 2015 owing to expansion of warehouse space globally and growing e-commerce business around the world.

Further, the Australia forklift trucks market is predicted to reach USD 2.86 billion by the end of forecast period. Australia forklift truck market to grow at a CAGR of 7.48% during the period 2016-2024. 

Electric Forklift Truck Market

Global electric forklift truck market to expand at a CAGR of 7.1% during the forecast period 2016-2024. Further, the market is anticipated to reach USD 39.4 billion by the end of forecast period.

Counter balanced forklift trucks accounted for the largest revenue share of 55% in global electric forklift truck market in 2016. 

Collaborative Robots Market

Collaborative robots are technological innovation which is transforming the existing robotics and automation industry. Technological advancement in automotive sector and adoption of collaborative robots over traditional robots is expected to boost the demand for industrial collaborative robots in near future.

Flexible deployment with low labour cost is going to expand the collaborative robots market across the globe. Global cobots market is expected to reach USD 15.2 billion by 2024 from USD 0.79 billion in 2016, growing at a CAGR of 44.72% over the forecast period i.e.

2016 - 2024.

Warehousing Robots Market

Innovations in robotics technology and rising expenditures over research and development (R&D) are the key factors driving the growth of global warehouse robots market. Global warehouse robots market size accounted for more than USD 12.0 billion in 2016 and projected to surpass USD 22.1 billion by the end of 2024.

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