The global material handling equipment market size is anticipated to reach $41.1 billion by 2025. The market is projected to witness the high growth owing to the increasing manufacturing activities in the pharmaceuticals, chemical, food & beverages and automotive industries paired with safety concerns over the workplace. Moreover, a technological development like robotic arms, escalators, automation, etc. started an evolution in the industries which efficiently perform tasks with error free and time & cost saving manufacturing processes, may fuel the market growth.
The increasing demand for retrieval systems and automated storage in pharmaceutical, food & beverages, chemical, and automotive industries are expected to be a key driving factor of the market growth due to the adoption of equipment by manufacturers in warehouses as well as the distribution & production centers.
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The product handling equipment reduces the cost as well as the risk of damaging a product due to manual transportation and processing activities. Trucks are the dominating segment of handling equipment and had the highest market share in 2015. However, retrieval systems & automated storage is likely to acquire significant market share over the forecast period owing to increased adoption of the automation systems across the APAC.
A variety of Automated, semi-automated, and manual material handling equipment lower the handling cost, shorten the delivery time and reduces the risk of damage and inventory. Thus, the adoption of material handling equipment is projected to upsurge.
The e-commerce industry is anticipated to persist as a leading and fastest growing segment of the end-use due to the rising adoption of material handling equipment for storage & transportation purpose in a warehouse. These mechanical products used for the movement of goods, storage, tracking products, organization of orders and protection of material. Thus, they reinforce the operational capability, handle warehouse activities efficiently, and streamline the supply chain.
The flourishing e-commerce and manufacturing industries like textile, chemical, automotive, food & beverage, and pharmaceutical inducing a demand for warehousing the goods for managing and storing purposes. Thus, material handling systems act as a key factor in managing external and internal manufacturing/warehousing operations. They are widely used in the automotive industry owing to lessen the labor intensity, improved production activities, and timely delivery of goods or material.
Europe is one of the dominating regions with a significant market share in 2015 and estimated over 35% of the sector share. However, APAC is expected to grow at a CAGR of over 7% making the region a fastest growing market in the forecast period. The increase in the manufacturing facilities, paired with the expansion of the e-commerce and industrial sector in APAC, is likely to drive the material handling equipment market in the region. Moreover, the mounting importance of safety at a workplace in manufacturing and chemical industries is projected to increase the demand in the forecast period.
The rapid global development of e-commerce and industrialization are projected to boost the demand for the market in warehouses. Moreover, Middle East, Africa and Latin America are anticipated to make massive investments in the material handling equipment market.
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The market is highly competitive with the existence of major players and small vendors supplying a broad range of the equipment. Furthermore, the industry is witnessing joint ventures or acquisitions. For instance, in 2015, SSI Schaefer acquired MoTuM NV and included Automated Guided Vehicles (AGV) in its product portfolio.
Additionally, manufacturers are adopting automation to sustain in the market. At present, the sector is dominated by global players, like SSI Schaefer, Daifuku, Murata Machinery Ltd., Kion Group (Dematic), Mecalux S.A., and Vanderlande Industries B.V.
Material Handling Equipment Product Outlook (Revenue, USD Billion; 2014 - 2025)
• Storage & handling equipment
• Automated storage & retrieval system
• Industrial trucks
• Bulk material handling equipment
Material Handling Equipment End-Use Outlook (Revenue, USD Billion; 2014 - 2025)
• Food & beverages
• Semiconductor & electronics
Material Handling Equipment Regional Outlook (Revenue, USD Billion; 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa