ID: MRFR/CO/2323-HCR | February 2021 | Region: Global | 111 pages
Material Handling Equipment Market is expected to grow at CAGR of ~7.5% during the period 2017 to 2023.
The major driver for the growth of the Material Handling Equipment Market is the increasing automation across manufacturing industries. The constantly increasing pressure for optimization of resources and raw materials consumption, is driving the use of Material Handling Equipment Market. The other factors driving the growth of the Material Handling Equipment Market are constant innovation in technology, up gradation of the manufacturing plants and the expansion of the manufacturing base in developing nations.
The Asia-Pacific region is expected to grow significantly in the global power quality equipment market. The growth of the Asia-Pacific region in the Material Handling Equipment Market can be attributed to the booming industrial sector in the region and the safety concerns at workplaces, especially in industries such as automotive, food & beverage and metal & heavy industries. Material handling equipment also facilitate the distribution and production of materials majorly in the e-commerce industry, thereby leading to the growth of the material handling equipment market in the region.
The key players of Material Handling Equipment Market are Liebherr Group (Switzerland), KION Group AG (Germany), Jungheinrich AG (Germany), Viastore Systems GmbH (Germany), Eisenmann AG (Germany), Columbus McKinnon Corporation (U.S.), Crown Equipment Corporation (U.S.), Hytrol Conveyor Co., Inc. (U.S.), Xuzhou Heavy Machinery Co., Ltd. (China) and Toyota Industries Corporation (Japan).
Material handling equipment is equipment used for the movement, storage and protection of goods in all industries for manufacturing and distribution.
Study Objectives of Material Handling Equipment Market:
The report for Material Handling Equipment Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2027: Significant Value|
|CAGR||7.5% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Operation, System Type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Liebherr Group (Switzerland), KION Group AG (Germany), Jungheinrich AG (Germany), Viastore Systems GmbH (Germany), Eisenmann AG (Germany), Columbus McKinnon Corporation (U.S.), Crown Equipment Corporation (U.S.), Hytrol Conveyor Co., Inc. (U.S.), Xuzhou Heavy Machinery Co., Ltd. (China) and Toyota Industries Corporation (Japan).|
|Key Market Opportunities||Increasing pressure for optimization of resources and raw materials consumption|
|Key Market Drivers||Increasing automation across manufacturing industries|
Frequently Asked Questions (FAQ) :
Material handling equipment is used for storing, transporting, controlling, and protecting products during their manufacturing or disposal.
Liebherr Group (Switzerland), Jungheinrich AG (Germany), KION Group AG (Germany), and Viastore Systems GmbH (Germany) are some potential material handling equipment vendors.
The presence of a large population base in APAC is resulting in a surge in the consumption of commodities. This is contributing to the expansion of the manufacturing sector in the region. Thus, the APAC material handling equipment market is expected to thrive at a high CAGR in the review period.
Numerous small and large vendors of material handling equipment are residing across the globe. Recent developments and investments made by them are identified to contribute to the expansion of the regional market, where these companies reside.
Bulk load material handling system and unit load material handling system are two types of material handling equipment. The advantage of handling multiple items at a time offered by unit loads is contributing to their growing adoption in the manufacturing sector. Thus, the unit load material handling system segment is expected to gain high traction.