Market Overview

Global Material Handling Equipment Market size was valued at around 237.47 billion in 2023 and is expected to reach a value of USD 387.78 billion by 2032, at a CAGR of 5.6% over the forecast period (2024–2032).

The material handling equipment market is a vital and dynamic sector throughout the world with a central intermediary function to provide in manufacturing procedures as well as logistics in the majority of businesses. The industry is engaged with the management of a very extensive variety of material movement, storage, control, and protection apparatus by manufacturing activities, warehousing, distribution, and transportation. Material handling equipment has been an integral part in the prevention of manual handling and operation maximization in the form of increased efficiency, productivity, and safety as a means of doing things in a better way.

The sector has experienced unprecedented growth with increasing orders for automation and state-of-the-art technology. Organizations are embracing higher volumes of automated technology such as robot systems, automated guide vehicles (AGVs), and conveyor systems in order to attain maximum operational effectiveness and minimal touch. The technologies are being increasingly adopted in industries such as e-commerce, autos, food and beverage, and pharmaceuticals, where scalability, accuracy, and speed are given importance. In addition to this, convergence of Internet of Things (IoT), artificial intelligence (AI), and data analytics with material handling systems has introduced real-time monitoring, predictive maintenance, and improved decision-making, contributing to market growth.

Material handling equipment demand has been strongly fuelled by e-commerce growth and need for efficient supply chain management, and also technological innovation. The rapid growth of electronic commerce has led to a surge in demand for distribution centres and warehouses, which likewise require sophisticated material handling systems for processing huge amounts of merchandise efficiently. In order to remain competitive with rising demands for efficient handling of logistics and timely order delivery, companies are installing palletizers, sorters, and automatic storage and retrieval systems (AS/RS).

Workplace safety and ergonomic solutions are also a major driver of the market. Next-generation material handling equipment is being employed in markets to reduce workplace injury and comply with regulatory requirements. The equipment, including forklifts, cranes, and hoists, is made safe at the operator level and load-handling capacity optimization.

Sustainability increasingly is emerging as a growth imperative in the material handling equipment segment with firms seeking to create energy-efficient and environmentally friendly solutions. Electric and renewable energy-driven solutions are gaining prominence as firms try to lower their carbon footprint and overheads.

Key Findings:

• Green electric forklifts, developed by CLARK Europe GmbH in January 2024, will usher in sustainable logistics. The company also unveiled its latest innovations in warehouse technology and a range of electric counterbalance trucks.
• Hyster Yale launched a new reach truck in November 2023 that is capable of operating both indoors and outdoors, including on slightly uneven terrain.

Market Drivers

Rising Adoption of Automation and Advanced Technologies

• Increasing use of automation and new technologies is a primary market driver of the material handling equipment market. The industries are applying automatic means in the form of robotic machinery, automated guide vehicles (AGVs), and conveyor belts in order to facilitate ease of efficiency and reduce the dependence on human labour. The technologies improve speed of process, accuracy, and scalability and therefore become hugely suitable in applications such as manufacturing, logistics, and e-commerce. Additionally, the incorporation of intelligent technologies, including IoT and AI, enables real-time monitoring, predictive maintenance, and optimization of equipment, leading to enhanced productivity and cost savings.

Growth of E-Commerce and Demand for Efficient Supply Chain Management

• The rapid expansion of e-commerce has revolutionized supply chain operations, requiring speedier and more effective material handling solutions. Warehouses and distribution centres have seen increased demand for equipment like automated storage and retrieval systems (AS/RS), sortation systems, and conveyors to effectively manage large amounts of inventory. The pressure to rapidly fulfil orders and optimize logistics operations has prompted companies to invest in sophisticated material handling equipment to remain competitive. The growth of online shopping has also spurred innovations to facilitate omnichannel supply chains as well as reduce operational bottlenecks.

Market Opportunities

Integration of IoT and AI in Material Handling Equipment

• The integration of IoT and AI into material handling equipment offers a promising avenue for market expansion. IoT-based systems can offer real-time insights into equipment performance, inventory, and operational efficiency, allowing predictive maintenance and minimizing downtime. AI-based technologies improve decision-making through enhanced analytics and automation, streamlining workflows and resource allocation. These technologies provide companies with the means to respond to changing operational needs, enhance efficiency, and achieve a competitive advantage in their markets.

Increasing Demand for Sustainable and Energy-Efficient Solutions

• Growing emphasis on sustainability and stewardship of the environment has given a boost to energy-efficient solutions in material handling. Companies seek equipment that helps in saving energy, reducing emissions, and fits into corporate green initiatives. Trends include electric-forklifts, renewable power-based systems, and recyclable equipment material, which are trending because they meet not only the environmental challenges but also offer savings in the longer run, therefore, attracting businesses interested in reducing their carbon imprint and operational expense.

Market Restraining Factors

High Initial Investment Costs

• One of the major constraints on the market for material handling equipment is the huge initial capital required to purchase and install sophisticated technologies. AGVs and AS/RS are some of the automated solutions and technologies that require a huge initial hardware investment, software integration, and training. Small and medium-sized enterprises (SMEs), who cannot afford the initial cost even with the long-term benefits, would be most impacted by this cost barrier. Also, the necessity of skilled employees and periodic maintenance expenses add the cost element, which limits take-up among budget-conscious organizations.

Segmentation Analysis

The market scope is segmented because of by Equipment Type, by System Type, by Operation.

• By Equipment Type

Based on the Equipment Type of the market is segmented into Conveyors, Forklifts, Cranes, Automated Storage and Retrieval Systems (AS/RS), Pallet Trucks, Others.

Conveyors business has led the market for material handling equipment, due to its wide use across a wide range of industries such as manufacturing, e-commerce, automotive, and food and beverages. Conveyors are critical in process optimization because they facilitate continuous smooth flow of products over distances with little or no need for human intervention. The capacity to manage different materials ranging from light packages to heavy loads is what renders them extremely versatile and unavoidable in massive operations.

Among e-commerce retail industry, the skyrocketing trend in online buying has compelled demand for conveyors chiefly. Warehouse distribution facilities use automatic conveyor systems for quick and accurate sorting, packing, and sending orders as per high-volume business needs. Moreover, integration with next-generation technologies like IoT and sensors has made the conveyors even more efficient in real-time tracking, predictive repair, and calibration, further enhancing their demand to an extreme.

• By System Type

Based on the System Type of the market is segmented into Automated Systems, Semi-Automated Systems, Manual Systems.

The Automated Systems business has spearheaded the material handling equipment market with tighter demands of efficiency, precision, and operating expenses savings by numerous sectors. Automated systems like robotic arms, automated guide vehicles (AGVs), and automated storage and retrieval systems (AS/RS) have caught pace because they facilitate material handling at increased speeds and in a repetitive sequence. These systems reduce human involvement, minimize errors, and use maximum productivity, and thus become a requirement in industries like e-commerce, automobiles, and manufacturing.

The growth rate of e-commerce has been one of the major forces toward the prevalence of automated systems. Large warehouses and distribution centres increasingly use these systems in stock handling, order processing automation, and quick turnaround time. Moreover, integration of more recent technologies such as IoT, artificial intelligence, and machine learning has improved the ability of automated systems with real-time monitoring, predictive maintenance, and better utilization of resources.

Automated systems also facilitate increased workplace safety and ergonomic needs by performing less manual work and related risk factors. While semi-automatic and manual systems may still remain viable for certain applications, automated systems offer unparalleled scalability, working capacity, and cost-effectiveness in the long term, and thus are the preferred choice for industries looking for high volume and accuracy in material handling operations.

• Regional Snapshots

By region, Insights into the markets in North America, Europe, Asia-Pacific, Latin America and MEA are provided by the study. The Asia Pacific market led the market and held more than 34.9% of worldwide revenue in 2021. Due to its capacity to improve the efficiency and pace of the sortation and picking process, the expanding food retail business in Asia Pacific is attributed with the common usage. Systematically combined solutions on the basis of bringing new legal reforms in aspects of quality and safety are apt to help stimulate Europe's development. In addition, automated cases and industrial tractors are mainly driving the request for material handling equipment from manufacturers, warehouses, and ports industries.

Firms are now delivering quality products because of high demand for contemporary products in warehouses triggered by the high usage of e-commerce websites. It has been estimated that the rising need for automated warehouse operations in North America will drive the market growth. A 6.0% compound annual growth rate (CAGR) is predicted in Latin America during the forecast period. Latin American industry is driven mainly by growing investment in numerous end-use sectors like food and beverages and autos.

List of Companies Profiled

• Daifuku Co., Ltd.
• Liebherr Group
• Schaefer System International Ltd.
• Toyota Industries Corporation
• Beumer Group
• Jungheinrich AG
• Godrej Group
• Kion Group AG
• Action Construction Equipment Ltd.
• Hyster-Yale Materials Handling, Inc.
• Swisslog Holding AG
• Crown Equipment Corporation
• Hyster-Yale Materials Handling, Inc.
• Mitsubishi Logisnext Co., Ltd.
• KUKA AG

Key Industry Developments

In February 2024, one of the world's largest manufacturers of material handling products, Bobcat, revealed its expanded product range following its decision to make Doosan Industrial Vehicle (DIV) part of it on a strategic level. The company has renamed all of its machinery, from forklift trucks and other warehousing equipment, in a bid to increase its product portfolio and secure new customers.

In May 2023, three TMH electric forklifts have been launched. Incorporating these products into its existing line, the company will establish itself as a prominent material handling product and solutions supplier.

In April 2023, the recently launched SP1500 high level order pickers from Crown Equipment Corporation, an international material handling equipment manufacturer and supplier, incorporate new features such as an ergonomic operator station with programmable controls for improved safety and speed of order picking.

In March 2023, Li-Cycle, a leader in lithium-ion resources, and KION Group, a specialist in material handling equipment, have entered into a strategic alliance to enhance the company's position in the battery recycling and sustainability products market.

In January 2023, Crown Equipment Corporation diversified its product offerings to cover electric counterbalance forklifts and internal combustion forklifts with 5.5 tonnes maximum load capacity.

Report Coverage

The report will cover the qualitative and quantitative data on the Global Material Handling Equipment Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations

Global Material Handling Equipment Market Regional Analysis

North America accounted for the highest xx% market share in terms of revenue in the Material Handling Equipment market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Material Handling Equipment. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Material Handling Equipment companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Material Handling Equipment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Material Handling Equipment Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions:

• How much the global Material Handling Equipment Market valued?
• Which region has the largest share in 2024 for the global Material Handling Equipment Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Material Handling Equipment Market

• Historic year: 2019-2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Material Handling Equipment Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: