Material Handling Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031

Description

The global material handling equipment market is witnessing significant growth due to the increasing need for automation and efficiency across various industries. The global material handling equipment market is projected to experience substantial growth, reaching approximately $230.63 billion in 2024 and $385.9 billion by 2031, reflecting a compound annual growth rate (CAGR) of 7.60%. The rise in industrial development and the growing adoption of mechanization and robotics are key factors propelling the demand for material handling systems. These systems are becoming essential in sectors like engineering, machining, and automotive, where efficient material handling is critical. As businesses focus on enhancing operational efficiency, the demand for advanced material handling equipment is expected to grow steadily in the coming years.

A key driver of this market's growth is the widespread use of lifting accessories such as drum lifters, crown pallet jacks, and electric pallet trucks across several industries. These tools play an integral role in improving the efficiency of material handling processes. Traditional material handling equipment has its limitations, particularly in terms of picking and sorting errors. However, modern equipment such as order-lifting forklifts is designed to overcome these issues, ensuring error-free operations. The adoption of automated material handling systems not only reduces operational costs but also speeds up production and delivery times, making these systems indispensable for manufacturers aiming to stay competitive.

Key Market Trends Supporting Growth

The growth of industrial infrastructure and investments in machinery are closely tied to the increasing demand for material handling equipment. This demand is further bolstered by the adoption of automation in manufacturing and storage facilities across developed economies. As companies seek to modernize their operations, the remodeling of industrial setups is expected to drive the material handling equipment market, particularly in emerging economies.

Another significant trend in the market is the rise of eCommerce. The increasing popularity of online shopping platforms and the expansion of logistics networks are contributing to the growing demand for material handling equipment, particularly in warehouses. Warehouse operators are increasingly incorporating advanced equipment to efficiently manage their supply chain and distribution ecosystems, further driving the market's growth.

Opportunities for Growth in the Material Handling Equipment Market

The integration of digital technologies and eCommerce platforms has dramatically increased the demand for automated material handling equipment. Automated warehouse systems are becoming more prevalent as businesses seek to improve their operational efficiency and reduce labor costs. Equipment such as electric pallet jacks and other automated tools are becoming essential for warehouse racking systems, contributing to the market's growth.

Additionally, the adoption of integrated solutions, including electric pallet trucks, manual forklifts, and walkie stackers, is expected to be a game changer in the material handling equipment market. These tools enable businesses to streamline their material handling processes, leading to increased efficiency and reduced operational costs. The demand for such equipment is particularly strong in industries such as manufacturing, ports, logistics, and warehousing.

The ongoing transformation of material handling practices, driven by new business models and technological advancements, is another key factor driving market growth. The food industry, in particular, is expected to present new opportunities for the material handling equipment market as grocery stores evolve to offer fast-food-like services, such as frozen foods and prepared meals. This shift is expected to increase the demand for precise and advanced material handling equipment.

Product Segments in the Material Handling Equipment Market

The material handling equipment market is segmented into various product categories, with cranes and lifting equipment being the largest segment. This category accounts for a significant portion of the market, as cranes and lifting equipment are essential for heavy-duty industrial operations. Industrial pallet trucks are also in high demand due to their versatility and efficiency in moving goods within manufacturing and storage facilities.

Racking and storage equipment is another key segment that is expected to witness significant growth. As businesses seek to maximize storage capacity and reduce operational costs, the demand for equipment such as pallet stackers is increasing. Pallet stackers not only help businesses save on storage space but also improve throughput, making them a valuable asset for companies looking to enhance their efficiency.

Application Segments Leading the Market

The eCommerce sector is the dominant application segment in the material handling equipment market. The rapid growth of online shopping, coupled with the expansion of logistics and transportation networks, has created a strong demand for equipment such as platform trucks and order picker forklifts in eCommerce warehouses. This trend is expected to continue as more businesses adopt online platforms for their operations.

In addition to eCommerce, the pharmaceutical industry is emerging as a significant growth area for material handling equipment. As the demand for medications increases, pharmaceutical companies are investing in storage and material handling solutions to meet this demand efficiently. Automated systems such as pallet stackers are being used to improve productivity, reduce labor costs, and enhance product quality in the pharmaceutical sector.

Regional Insights in the Material Handling Equipment Market

The North American region is a key player in the global material handling equipment market, with the United States leading in terms of manufacturing, sales, and exports. The presence of major industry players and advanced technological infrastructure has contributed to the region's dominance in the market. The increasing use of automated systems in warehouses and the growing popularity of online shopping are expected to drive further growth in the United States.

Europe is also expected to be a lucrative market for material handling equipment. Countries such as the UK and Germany are at the forefront of adopting advanced material handling solutions. Legal changes regarding workplace safety and quality standards are driving the demand for modern equipment in European industries. Additionally, increased capital investment in industrial machinery is expected to boost sales in the region.

In the Asia-Pacific region, countries such as Japan and South Korea are experiencing strong growth in the material handling equipment market. The expanding food retail industry in the region, along with the increasing use of automation in industrial operations, is driving demand for material handling equipment. The focus on improving supply chain efficiency and reducing downtime is expected to further boost market growth in these countries.

Competitive Analysis in the Material Handling Equipment Market

The material handling equipment market is highly competitive, with several key players dominating the industry. Companies such as BEUMER Group, Daifuku Co., Ltd., Honeywell International, Inc., KION Group AG, Mecalux, S.A., and Toyota Industries Corporation are among the leading players in the market. These companies are focused on maintaining their competitive edge through both organic and inorganic growth strategies.

Key Companies Profiled

BEUMER Group
Daifuku Co., Ltd.
Honeywell International, Inc.
KION Group AG
Mecalux, S.A.
Murata Manufacturing Co., Ltd.
SSI SCHAEFER
Swisslog Holding AG
TOYOTA Industries Corporation
Vanderlande Industries B.V.

Key Segments Covered in the Material Handling Equipment Industry Report

Material Handling Equipment Industry by Product Type

Cranes and Lifting Equipment
Racking & Storage Equipment
Industrial Trucks
Continuous Handling Equipment

Material Handling Equipment Industry by Application

eCommerce
Automotive
Food & Beverages
Chemical
Semiconductor & Electronics
Aviation
Pharmaceutical
Others

Material Handling Equipment Industry by Region

North America Material Handling Equipment Industry
Europe Material Handling Equipment Industry
East Asia Material Handling Equipment Industry
South Asia and Pacific Material Handling Equipment Industry
Middle East & Africa Material Handling Equipment Industry
South America Material Handling Equipment Industry

1. Executive Summary

1.1. Global Material Handling Equipment Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Material Handling Equipment Market Outlook, 2019 - 2031

3.1. Global Material Handling Equipment Market Outlook, by Product Type, Value (US$ Bn), 2019 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Cranes and Lifting Equipment
  - 3.1.1.2. Racking & Storage Equipment
  - 3.1.1.3. Industrial Trucks
  - 3.1.1.4. Continuous Handling Equipment
3.2. Global Material Handling Equipment Market Outlook, by Application, Value (US$ Bn), 2019 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. eCommerce
  - 3.2.1.2. Automotive
  - 3.2.1.3. Food & Beverages
  - 3.2.1.4. Chemical
  - 3.2.1.5. Semiconductor & Electronics
  - 3.2.1.6. Aviation
  - 3.2.1.7. Pharmaceutical
  - 3.2.1.8. Others
3.3. Global Material Handling Equipment Market Outlook, by Region, Value (US$ Bn), 2019 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa

4. North America Material Handling Equipment Market Outlook, 2019 - 2031

4.1. North America Material Handling Equipment Market Outlook, by Product Type, Value (US$ Bn), 2019 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Cranes and Lifting Equipment
  - 4.1.1.2. Racking & Storage Equipment
  - 4.1.1.3. Industrial Trucks
  - 4.1.1.4. Continuous Handling Equipment
4.2. North America Material Handling Equipment Market Outlook, by Application, Value (US$ Bn), 2019 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. eCommerce
  - 4.2.1.2. Automotive
  - 4.2.1.3. Food & Beverages
  - 4.2.1.4. Chemical
  - 4.2.1.5. Semiconductor & Electronics
  - 4.2.1.6. Aviation
  - 4.2.1.7. Pharmaceutical
  - 4.2.1.8. Others
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
4.3. North America Material Handling Equipment Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S. Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 4.3.1.2. U.S. Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 4.3.1.3. Canada Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 4.3.1.4. Canada Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Material Handling Equipment Market Outlook, 2019 - 2031

5.1. Europe Material Handling Equipment Market Outlook, by Product Type, Value (US$ Bn), 2019 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Cranes and Lifting Equipment
  - 5.1.1.2. Racking & Storage Equipment
  - 5.1.1.3. Industrial Trucks
  - 5.1.1.4. Continuous Handling Equipment
5.2. Europe Material Handling Equipment Market Outlook, by Application, Value (US$ Bn), 2019 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. eCommerce
  - 5.2.1.2. Automotive
  - 5.2.1.3. Food & Beverages
  - 5.2.1.4. Chemical
  - 5.2.1.5. Semiconductor & Electronics
  - 5.2.1.6. Aviation
  - 5.2.1.7. Pharmaceutical
  - 5.2.1.8. Others
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Material Handling Equipment Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.3.1.2. Germany Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 5.3.1.3. U.K. Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.3.1.4. U.K. Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 5.3.1.5. France Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.3.1.6. France Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 5.3.1.7. Italy Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.3.1.8. Italy Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 5.3.1.9. Turkey Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.3.1.10. Turkey Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 5.3.1.11. Russia Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.3.1.12. Russia Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 5.3.1.13. Rest of Europe Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 5.3.1.14. Rest of Europe Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Material Handling Equipment Market Outlook, 2019 - 2031

6.1. Asia Pacific Material Handling Equipment Market Outlook, by Product Type, Value (US$ Bn), 2019 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Cranes and Lifting Equipment
  - 6.1.1.2. Racking & Storage Equipment
  - 6.1.1.3. Industrial Trucks
  - 6.1.1.4. Continuous Handling Equipment
6.2. Asia Pacific Material Handling Equipment Market Outlook, by Application, Value (US$ Bn), 2019 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. eCommerce
  - 6.2.1.2. Automotive
  - 6.2.1.3. Food & Beverages
  - 6.2.1.4. Chemical
  - 6.2.1.5. Semiconductor & Electronics
  - 6.2.1.6. Aviation
  - 6.2.1.7. Pharmaceutical
  - 6.2.1.8. Others
- 6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Material Handling Equipment Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. China Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 6.3.1.2. China Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 6.3.1.3. Japan Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 6.3.1.4. Japan Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 6.3.1.5. South Korea Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 6.3.1.6. South Korea Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 6.3.1.7. India Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 6.3.1.8. India Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 6.3.1.9. Southeast Asia Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 6.3.1.10. Southeast Asia Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 6.3.1.11. Rest of Asia Pacific Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 6.3.1.12. Rest of Asia Pacific Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Material Handling Equipment Market Outlook, 2019 - 2031

7.1. Latin America Material Handling Equipment Market Outlook, by Product Type, Value (US$ Bn), 2019 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Cranes and Lifting Equipment
  - 7.1.1.2. Racking & Storage Equipment
  - 7.1.1.3. Industrial Trucks
  - 7.1.1.4. Continuous Handling Equipment
7.2. Latin America Material Handling Equipment Market Outlook, by Application, Value (US$ Bn), 2019 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. eCommerce
  - 7.2.1.2. Automotive
  - 7.2.1.3. Food & Beverages
  - 7.2.1.4. Chemical
  - 7.2.1.5. Semiconductor & Electronics
  - 7.2.1.6. Aviation
  - 7.2.1.7. Pharmaceutical
  - 7.2.1.8. Others
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Material Handling Equipment Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 7.3.1.2. Brazil Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 7.3.1.3. Mexico Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 7.3.1.4. Mexico Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 7.3.1.5. Argentina Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 7.3.1.6. Argentina Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 7.3.1.7. Rest of Latin America Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 7.3.1.8. Rest of Latin America Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Material Handling Equipment Market Outlook, 2019 - 2031

8.1. Middle East & Africa Material Handling Equipment Market Outlook, by Product Type, Value (US$ Bn), 2019 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Cranes and Lifting Equipment
  - 8.1.1.2. Racking & Storage Equipment
  - 8.1.1.3. Industrial Trucks
  - 8.1.1.4. Continuous Handling Equipment
8.2. Middle East & Africa Material Handling Equipment Market Outlook, by Application, Value (US$ Bn), 2019 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. eCommerce
  - 8.2.1.2. Automotive
  - 8.2.1.3. Food & Beverages
  - 8.2.1.4. Chemical
  - 8.2.1.5. Semiconductor & Electronics
  - 8.2.1.6. Aviation
  - 8.2.1.7. Pharmaceutical
  - 8.2.1.8. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Material Handling Equipment Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 8.3.1.2. GCC Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 8.3.1.3. South Africa Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 8.3.1.4. South Africa Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 8.3.1.5. Egypt Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 8.3.1.6. Egypt Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 8.3.1.7. Nigeria Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 8.3.1.8. Nigeria Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
  - 8.3.1.9. Rest of Middle East & Africa Material Handling Equipment Market by Product Type, Value (US$ Bn), 2019 - 2031
  - 8.3.1.10. Rest of Middle East & Africa Material Handling Equipment Market by Application, Value (US$ Bn), 2019 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Company Market Share Analysis, 2024
9.2. Competitive Dashboard
9.3. Company Profiles
- 9.3.1. BEUMER Group
  - 9.3.1.1. Company Overview
  - 9.3.1.2. Therapy Portfolio
  - 9.3.1.3. Financial Overview
  - 9.3.1.4. Business Strategies and Development
- 9.3.2. Daifuku Co., Ltd.
  - 9.3.2.1. Company Overview
  - 9.3.2.2. Therapy Portfolio
  - 9.3.2.3. Financial Overview
  - 9.3.2.4. Business Strategies and Development
- 9.3.3. Honeywell International, Inc.
  - 9.3.3.1. Company Overview
  - 9.3.3.2. Therapy Portfolio
  - 9.3.3.3. Financial Overview
  - 9.3.3.4. Business Strategies and Development
- 9.3.4. KION Group AG
  - 9.3.4.1. Company Overview
  - 9.3.4.2. Therapy Portfolio
  - 9.3.4.3. Financial Overview
  - 9.3.4.4. Business Strategies and Development
- 9.3.5. Mecalux, S.A.
  - 9.3.5.1. Company Overview
  - 9.3.5.2. Therapy Portfolio
  - 9.3.5.3. Financial Overview
  - 9.3.5.4. Business Strategies and Development
- 9.3.6. Murata Manufacturing Co., Ltd.
  - 9.3.6.1. Company Overview
  - 9.3.6.2. Therapy Portfolio
  - 9.3.6.3. Financial Overview
  - 9.3.6.4. Business Strategies and Development
- 9.3.7. SSI SCHAEFER
  - 9.3.7.1. Company Overview
  - 9.3.7.2. Therapy Portfolio
  - 9.3.7.3. Financial Overview
  - 9.3.7.4. Business Strategies and Development
- 9.3.8. Swisslog Holding AG
  - 9.3.8.1. Company Overview
  - 9.3.8.2. Therapy Portfolio
  - 9.3.8.3. Financial Overview
  - 9.3.8.4. Business Strategies and Development
- 9.3.9. TOYOTA Industries Corporation
  - 9.3.9.1. Company Overview
  - 9.3.9.2. Therapy Portfolio
  - 9.3.9.3. Financial Overview
  - 9.3.9.4. Business Strategies and Development
- 9.3.10. Vanderlande Industries B.V.
  - 9.3.10.1. Company Overview
  - 9.3.10.2. Therapy Portfolio
  - 9.3.10.3. Financial Overview
  - 9.3.10.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations