PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627775
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627775
The European material handling market is projected to grow at a CAGR of 5.25% over the forecast period, increasing from US$48.952 billion in 2025 to US$63.215 billion by 2030.
Material handling is the process through which raw materials or goods are moved to the manufacturing sites. There are three different types of material handling: manual, mechanical, and automated. Europe is one of the largest adopters of industrial automation and one of the key factors boosting investments in the Industry 4.0 revolution. Additionally, the automotive industry in Europe has always been at the forefront of manufacturing activity. As per the ACEA report, the European Union had 567 passengers and 83 commercial vehicles cars per 1,000 inhabitants in 2023. Luxembourg had the highest number of cars, with 689 cars per 1,000 passengers.
On the other hand, the European manufacturing sector's growth will push the material handling market in the region. The Eurostat, in its report, stated that the industrial production of the region grew about 8.5% in 2021, compared to the previous year and had an increase of about 0.4% in 2022. The report further stated that in 2023, the food, beverage, & tobacco sector recorded a higher market share in the total production with about 18%, followed by about 16% contribution by the motor vehicle & other transport equipment sector. The basic metals & fabricated metal products sector and chemical sector recorded a total production of about 14% and 8% respectively.
Europe material handling market drivers
One of the major factors driving the regional material handling market growth is the expansion of automotive production as material handling procedure is required for its efficient production. Automotive production in the European region has significantly grown in the recent few years. The International Organization of Motor Vehicle Manufacturers (OICA), in its production statistics, stated that in 2021, there were a total of about 16.137 million units of automotive products, which reduced to about 16.032 million in 2022, finally reaching about 18.122 million units in 2023.
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