Asia Pacific to Dominate Material Handling Equipment Market due to Growing Ecommerce, Automotive Sectors

The global material handling equipment market is expected to exhibit a growth rate of 7.5% over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global material handling equipment market is set to drive significant impetus from the growing demand for industrial automation across the world’s leading economies as well as developing countries.

Material handling equipment includes robotic systems used for storage, protection, and movement of a wide variety of goods in the industrial sector. The growing demand for automated systems in the manufacturing sector is likely to be the major driver for the global material handling equipment market over the forecast period. The automotive industry and the metal and heavy machinery industry have been among the leading adopters of automation systems in the manufacturing sector. A number of leading automotive companies have already installed comprehensive automation systems in their manufacturing plants, leading to a growing demand from the material handling equipment market. The growing demand for industrial automation solutions in the automotive manufacturing industry is likely to be a major driver for the global material handling equipment market over the forecast period.

The growing ecommerce sector around the world is also likely to emerge as a leading consumer of material handling equipment over the forecast period due to the growing demand for automated solutions for warehouse management. The growing volume of ecommerce transactions has led to a growing demand for comprehensive material handling equipment that facilitates smooth movement of the products in storage and shipping facilities. This is likely to be a major driver for the global material handling equipment market over the forecast period.

Competitive Analysis:

Leading players in the global material handling equipment market include Toyota Industries Corporation, Xuzhou Heavy Machinery Co. Ltd., Hytrol Conveyor Co. Inc., Crown Equipment Corporation, Columbus McKinnon Corporation, Eisenmann AG, Viastore Systems GmbH, Jungheinrich AG, KION Group AG, and Liebherr Group. Leading players in the global material handling equipment market are likely to focus on developing innovative products that fulfill diverse needs that different buyers may have. Developing better customer interaction interfaces is also likely to be a key aspect for companies in the global material handling equipment market over the forecast period.

In May 2019, Material Handling Services LLC, a leading player in the global material handling equipment market, launched a new brand, OnPoint Group, to facilitate better and smoother connections with customers. The new brand provides bundles material handling services, meaning the buyers can customize their services as per their need.

Segmentation:

The global material handling equipment market is segmented on the basis of operation, system type, application, and region.

By operation, the global material handling equipment market is segmented into assembly, transportation, packaging, distribution, and others.

By system type, the global material handling equipment market is segmented into unit load material handling systems and bulk load material handling systems.

By application, the global material handling equipment market is segmented into e-commerce, automotive, food and beverages, metal and heavy machinery, and others.

Regional Analysis:

Asia Pacific is likely to dominate the global material handling equipment market over the forecast period due to the growing ecommerce industry in the region, which has driven the demand for warehouses and warehouse management systems. The growing disposable income of consumers in the region is likely to drive further development of the ecommerce sector over the forecast period, leading to steady growth of the material handling equipment market in the region over the forecast period.

The growing automotive manufacturing sector in Asia Pacific is also likely to be a major driver for the material handling equipment market in the region over the forecast period, as countries such as China, South Korea, and Japan are home to highly advanced automotive industries that could viably witness widespread adoption of material handling equipment over the forecast period.

North America and Europe are also likely to be leading regional markets for material handling equipment over the forecast period due to the growing adoption of industrial automation systems in these regions.