According to a new report by Expert Market Research titled, ‘Global Material Handling Equipment Market Report and Forecast 2020-2025‘, the global material handling equipment market reached a value of almost USD 30.5 billion in 2019. The market is further expected to grow at a CAGR of 7.2% in the forecast period of 2020-2025.
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The global material handling equipment market is driven by the significant role it plays in the manufacturing sector. The material handling does not directly contribute to the manufacture of products, but it enables effective handling, management, storage, and transport of products ensuring that products circulate quickly, smoothly, and efficiently. The growth in the industrial and infrastructural operations is expected to cater to the ever-growing population, further enhancing the material handling equipment market growth.
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Daifuku Co., Ltd. (TYO: 6383) and Toyota Industries Corporation (OTCMKTS: TYIDY) are some of the major players in the global material handling equipment market. In April 2019, Daifuku Co., Ltd., a leading global manufacturer and supplier in the material handling industry, acquired the India-based material handling equipment manufacturer, Vega Conveyors & Automation Private Limited, to expand manufacturing and distribution business segments within Asia.
Market Analysis by Product:
The material handling equipment market, on the basis of product, is divided into storage and handling equipment, automated storage and retrieval system, industrial trucks, and bulk material handling equipment, among others.
Market Analysis by System Type:
On the basis of system type, the market is bifurcated into unit load material handling systems and bulk load material handling systems.
Market Analysis by Function:
Based on function, the market is segmented into assembly, packaging, transportation, distribution, storage, and waste handling.
Market Analysis by Industry:
On the basis of industry, the market is divided into automotive, metal and heavy machinery, food and beverages, chemicals, semiconductors and electronics, healthcare, aviation, and e-commerce, among others.
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Market Analysis by Region:
Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Competitive Landscape & Supplier Analysis:
Daifuku Co., Ltd., Jungheinrich AG, BEUMER Group, Kion Group AG, Mecalux, S.A., Toyota Industries Corporation, Hyster-Yale Materials Handling, Inc., JBT Corporation, and KUKU AG, among others, are the key players in the global material handling equipment market. The Expert Market Research report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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