Asia Pacific Material Handling Equipment Market, By Product Type (Forklifts, Conveyor Systems, Cranes, Automated Guided Vehicles, Pallet Jacks, and Others), By Equipment Type, By End-use Industry

The Asia Pacific material handling equipment market is estimated to be valued at US$ 112.45 Bn in 2024 and is expected to reach US$ 174.23 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

Figure. Asia Pacific Material Handling Equipment Market Share (%), By Product Type, 2024

The Asia Pacific material handling equipment market has been witnessing steady growth over the past few years owing to the growing e-commerce and logistics industries across developing economies. Material handling involves the movement, protection, storage and control of materials and products throughout the process of manufacturing or distribution. The proliferation of modern warehousing facilities, automated distribution centers, and smart supply chains has propelled the adoption of material handling equipment such as conveyors, cranes, lifts, automated storage & retrieval systems in the region. Rapid industrialization and construction activities in countries such as China, India, and Southeast Asian nations have increased the demand for heavy construction vehicles and machinery used for infrastructure development. Favorable government policies promoting Make in India, smart cities, and domestic manufacturing are also expected to drive demand over the coming years.

Market Dynamics:

The key drivers propelling the Asia Pacific material handling equipment market include rapid growth of the e-commerce sector across developing nations, expansion of warehousing facilities & mega distribution centers by major players, and shortage of labor motivating increased automation. However, high initial investment costs associated with automated equipment and lack of standardized skills & technical expertise in some countries continue to restrict wider adoption. On the flip side, rising focus on supply chain efficiency, growing industrialization & urbanization levels, and government initiatives to develop smart infrastructure present significant opportunities for equipment vendors. Industry 4.0 revolution is also encouraging the deployment of next-generation intelligent systems for advanced material movement applications.

Key Features of the Study:

This report provides in-depth analysis of the Asia Pacific material handling equipment market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the Asia Pacific material handling equipment market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Toyota Industries Corporation, KION Group AG, Jungheinrich AG, Mitsubishi Logisnext Co., Ltd., Hyster-Yale Materials Handling, Inc., Crown Equipment Corporation, Raymond Corporation, Komatsu Ltd., Doosan Industrial Vehicle, Hitachi Construction Machinery Co., Ltd., Yale Materials Handling Corporation, Clark Material Handling Company, Nissan Forklift Corporation, TCM Corporation, and Manitou Group

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The Asia Pacific material handling equipment market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Asia Pacific material handling equipment market

Detailed Segmentation-

• Product Type Insights (Revenue, US$ Bn, 2019 - 2031)
  • Forklifts
  • Conveyor Systems
  • Cranes
  • Automated Guided Vehicles (AGVs)
  • Pallet Jacks
  • Others
• Equipment Type Insights (Revenue, US$ Bn, 2019 - 2031)
  • Manual
  • Semi-Automatic
  • Fully Automatic
• End-use Industry Insights (Revenue, US$ Bn, 2019 - 2031)
  • Warehousing & Distribution
  • Manufacturing
  • Retail
  • Food & Beverage
  • Pharmaceuticals
  • Others
• Key Players Insights
  • Toyota Industries Corporation
  • KION Group AG
  • Jungheinrich AG
  • Mitsubishi Logisnext Co., Ltd.
  • Hyster-Yale Materials Handling, Inc.
  • Crown Equipment Corporation
  • Raymond Corporation
  • Komatsu Ltd.
  • Doosan Industrial Vehicle
  • Hitachi Construction Machinery Co., Ltd.
  • Yale Materials Handling Corporation
  • Clark Material Handling Company
  • Nissan Forklift Corporation
  • TCM Corporation
  • Manitou Group