Overview and Scope
Materials handling refers to the movement of raw goods from their native site to the point of use in manufacturing, their subsequent manipulation in production processes, and the transfer of finished products from factories and their distribution to users or sales outlets.
Sizing and Forecast
The material handling market size has grown strongly in recent years. It will grow from $40.45 billion in 2023 to $44.46 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to industrialization and manufacturing growth, e-commerce expansion, global supply chain networks, safety and ergonomics compliance, efficiency and cost reduction initiatives.
The material handling market size is expected to see strong growth in the next few years. It will grow to $64.85 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to e-commerce growth trajectory, automation and robotics integration, sustainability and green initiatives, rise of smart warehousing, adaptation to changing market dynamics.e-commerce growth trajectory, automation and robotics integration, sustainability and green initiatives, rise of smart warehousing, adaptation to changing market dynamics. Major trends in the forecast period include augmented reality (ar) for training and maintenance, predictive maintenance with machine learning, customization and scalability, human-robot collaboration (hrc), blockchain for supply chain transparency.
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Segmentation & Regional Insights
The material handling market covered in this report is segmented –
1) By Type: Automated Guided Vehicles, Automated Storage And Retrieval Systems, Trucks And Lifts, Cranes, Pallet Racking, Conveying Systems, Hoists, Other Types
2) By Operations: Assembly, Distribution, Transportation, Other Operations
3) By End User: Food & Beverages, Automotive, Construction, Consumer Goods & Electronic, Pharmaceuticals, E-Commerce, Other End Users
Asia-Pacific was the largest region in the material handling market in 2023. Western Europe was the second-largest region in the global material handling market share. The regions covered in the material handling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growth of material handling market witnessed growth owing to a rise in the e-commerce industry. For instance, in September 2022, according to the International Trade Administration, a US-based department of commerce, consumer ecommerce now makes up 30% of the UK’s overall retail sector (up from 20% in 2020), with an annual e-commerce revenue of more than $120 billion. In 2021, 82% of people in the UK will have made at least one online purchase. The increase in e-commerce is mostly driven by COVID-19 as people preferred shopping online rather than visiting any physical store. Rising e-commerce industry growth boosted the demand for material handling services and with this increase, the industry players in the material handling market are focusing on developing customized equipment and systems such as manufacturing engineered systems, smart warehousing, and remotely tracked transport vehicles. Therefore, the increase in online shopping is expected to drive the material handling market during the period.
Key Industry Players
Major companies operating in the material handling market report are Mitsubishi Logisnext Co.Ltd., Komatsu Ltd., Toyota Industries Corporation, Liebherr Group, Doosan Corporation, Kion Group AG, Jungheinrich AG, Crown Equipment Corporation, Daifuku Co. Ltd., Cascade Corporation, Hyster-Yale-Materials Handling, Dematic Group, Manitou Group, Hangcha Group Co. Ltd., SSI Schaefer Systems International, Hoist Liftruck Mfg. Inc., Anhui Heli Co. Ltd., Clark Material Handling Company, Columbus McKinnon Corporation, Raymond Corporation, Bastian Solutions LLC, Eisenmann AG, Godrej & Boyce Manufacturing Co. Ltd., Hytrol Conveyor Co., Combilift Ltd., Viastore Systems, Schaefer Systems International Pvt. Ltd., EMH Inc., Carolina Material Handling Services Inc., Beumer Group, KUKA AG, AGV International, TGW Logistics Group, Interroll Group
The material handling market report table of contents includes:
1. Executive Summary
2. Material Handling Market Characteristics
3. Material Handling Market Trends And Strategies
4. Material Handling Market – Macro Economic Scenario
5. Global Material Handling Market Size and Growth
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31. Material Handling Market Other Major And Innovative Companies
32. Global Material Handling Market Competitive Benchmarking
33. Global Material Handling Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Material Handling Market
35. Material Handling Market Future Outlook and Potential Analysis
36.Appendix
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