Material Handling Equipment Market Trends Report & Forecast, 2017 – 2024
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<strong>Material</strong> <strong>Handling</strong> <strong>Equipment</strong> <strong>Market</strong> <strong>Trends</strong> <strong>Report</strong> &<br />
<strong>Forecast</strong>, <strong>2017</strong> <strong>–</strong> <strong>2024</strong>; Global <strong>Market</strong> Insights, Inc.<br />
<strong>Material</strong> handling equipment industry has evolved in the past few years with advanced<br />
technological interventions such as voice picking, RFID, Big data analytics, IoT, etc. With the<br />
developments in logistics operations globally, the adoption of material handling systems<br />
across several end users has turned huge. A strong investment in the installation of these<br />
machineries in warehouses to enhance the productivity, is anticipated to directly influence<br />
material handling equipment market growth path. Some of the end use industries such as<br />
general merchandise, food retail, and durable manufacturing are also automating their<br />
production base by incorporating material handling equipment in the process. As per Global<br />
<strong>Market</strong> Insights Inc., “<strong>Material</strong> handling equipment market having held a revenue of USD 110<br />
billion in 2015, is slated to exceed USD 190 billion in the next seven years, with a projected<br />
CAGR of 5% over the period of 2016-<strong>2024</strong>.”<br />
Automated Storage & Retrieval System (AS/RS)), industrial trucks, storage & handling<br />
equipment, and robotics are the major products prevalent in the market. <strong>Material</strong> handling<br />
equipment industry from robots is witnessing a significant demand. The high-end<br />
manufacturing plants are incorporating robots to offer high level productivity on grounds of<br />
minimum manual error.<br />
© 2018 Global <strong>Market</strong> Insights Inc. All Rights Reserved www.gminsights.com
These robots can efficiently transport objects from one location to other without human<br />
involvement. Industrial trucks usage has also increased in the recent times. The recurring<br />
transfer of goods from one place to other through a conveyor system is not at all a convincing<br />
option, which in turn is propelling material handling equipment market demand from<br />
industrial trucks sector. In a continuously developing dynamic manufacturing environment,<br />
automated storage & retrieval System (AS/RS) will also witness large scale adoption. (AS/RS)<br />
requires less human involvement, reduced floor space, and inventory levels, which puts them<br />
on a higher edge than manual storage approaches.<br />
E-commerce is expected to dominate the application landscape for material handling<br />
equipment industry in the years ahead. The advent of e-commerce has provided the<br />
customers with an infinite variety of choices, leading to a surging demand for faster deliveries<br />
worldwide. Numerous vendors of e-commerce industry are installing ware house<br />
management system for monitoring inventory levels, which is expected to have a direct<br />
impact on material handling equipment market growth chart.<br />
https://www.gminsights.com/industry-analysis/material-handling-equipment-market<br />
Asia-Pacific region is anticipated to witness substantial growth in material handling<br />
equipment industry in the coming timeframe. A major share of the region’s growth projection<br />
can be credited to the increasing industrial developments and the growing adoption of E-<br />
commerce across this belt that propels the implementation of material handling equipment.<br />
In addition to this, low labor and reduced transportation costs across these regions is allowing<br />
the manufacturers to incline toward automated systems, which in turn is influencing the<br />
regional growth.<br />
<strong>Material</strong> handling equipment market is highly competitive with more number of industry<br />
participants investing in research activities to upgrade the product portfolio. Though high<br />
maintenance cost is acting as a major challenge for the market players, yet global consumer<br />
cravings for integrating advanced technologies in logistics operations is expected to catalyze<br />
the market demand. Some of the key players in material handling equipment industry include<br />
Kion Group AG, Daifuku Co. Ltd, Bastian Solutions LLC, Dematic GmbH, etc.<br />
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© 2018 Global <strong>Market</strong> Insights Inc. All Rights Reserved www.gminsights.com
About Global <strong>Market</strong> Insights<br />
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