Material Handling Equipment Market Size Worth $213.3 Billion By 2030: IndustryARC

Global Material Handling Equipment Market size is predicted to reach $213.3 billion by 2030, growing at a CAGR of 5.7% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Integration of robotics and increasing e-commerce demand propels market growth, finds IndustryARC in its recent report, titled “Material Handling Equipment Market – By Technology (Manual, Semi-Automated, Fully Automated), By Equipment Type (Conveyors & Sortation Systems, Storage & Handling Equipment, Industrial Trucks & Lifts, Automated Guided Vehicles (AGVs) & Robots, Others), By End-User Industry (Manufacturing, Retail & E-commerce, Food & Beverage, Healthcare, Construction, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030”

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APAC to Register Highest Growth:

APAC is set to register the highest growth in the Material Handling Equipment Market due to several key factors. The rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations are driving demand for efficient material handling solutions. The booming e-commerce sector in the region further necessitates advanced logistics and warehousing capabilities, leading to increased adoption of automated systems such as AGVs and ASRS. Additionally, government initiatives to boost manufacturing and infrastructure development contribute to market expansion. The region’s competitive manufacturing landscape and technological advancements in robotics and automation are also pivotal in propelling this growth.

Material Handling Equipment Market 2024-2030: Scope of the Report

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Material Handling Equipment Market Report – Key Takeaways:

• Manual Technology is Dominating the Material Handling Equipment Market

Despite technological advancements, the manual technology segment led the material handling equipment market with a 38% share in 2023. This is due to its simplicity, reliability, and cost-effectiveness compared to complex automated systems. Manual equipment is more accessible and affordable for small and medium-sized businesses, especially in emerging economies. It offers flexibility, requires minimal training, and can be quickly deployed. Additionally, manual solutions are crucial for handling delicate or irregular items. While automation progresses, manual equipment remains vital for its versatility and practicality in various material handling applications.

• Rapid Growth of Industrial Trucks & Lifts in Material Handling Equipment Market

Industrial trucks and lifts are set to be the fastest-growing equipment type in the material handling market, with a CAGR of 5.9% from 2024 to 2030. This growth is driven by increasing demand for efficient intra-logistics in manufacturing, e-commerce, and logistics. Technological advancements, including automation and electrification, have enhanced these trucks and lifts with better safety, productivity, and energy efficiency. The rise in warehouse automation and just-in-time manufacturing, coupled with the expanding volume of goods in e-commerce, further boosts the need for these versatile and robust solutions. These factors position industrial trucks and lifts as a key growth segment in the market.

• Significant Expansion of Manufacturing in Material Handling Equipment Market

Manufacturing is the fastest-growing end-use industry in the material handling equipment market, with a CAGR of 6.1% from 2024 to 2030. This growth is driven by globalization, rising consumer demand, and the need for optimized production processes. Material handling equipment is essential for efficient movement, storage, and handling of materials in manufacturing. The increasing use of automation and robotics, including AGVs, robotic arms, and conveyors, boosts productivity and safety while reducing labor costs. As manufacturers adopt lean and just-in-time production methods, effective material handling becomes crucial for minimizing waste and maximizing throughput, driving significant growth in this sector.

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Key Opportunity Analysis:

Integration of Advanced AI for Predictive Maintenance

The integration of advanced AI and machine learning technologies in Material Handling Equipment offers a significant growth opportunity. By utilizing AI-driven predictive maintenance, businesses can proactively address equipment failures, reducing downtime and maintenance costs. Predictive analytics allows for real-time monitoring and analysis of equipment performance, ensuring operational efficiency. This technological advancement is particularly appealing to industries with high-volume operations, such as logistics and manufacturing, where downtime can significantly impact productivity. Companies investing in AI-enabled systems are positioned to improve their competitiveness by enhancing workflow efficiency and extending the lifespan of their material handling equipment.

Expansion in Emerging Markets

The expansion of the Material Handling Equipment Market in emerging economies presents a substantial opportunity. Rapid industrialization and infrastructural development in regions such as Southeast Asia, Africa, and Latin America drive demand for efficient material handling solutions. As industries in these regions grow, the need for modern logistics, warehousing, and manufacturing solutions is increasing, creating opportunities for equipment manufacturers. Companies focusing on offering cost-effective, scalable solutions tailored to the unique needs of these emerging markets can capitalize on this growth. By establishing a presence in these regions, businesses can tap into new customer bases and expand their global market share.

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The report also covers the following areas:

• Material Handling Equipment Market Size and Forecast
• Material Handling Equipment Market Trends
• Material Handling Equipment Market Analysis by Product Type

Material Handling Equipment Market 2024-2030: Key Highlights

• CAGR of the market during the forecast period 2024-2030
• Value Chain Analysis of key stakeholders
• Detailed analysis of market drivers and opportunities during the forecast period
• Material Handling Equipment Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Material Handling Equipment Market

Covid and Ukrainian Crisis Impact:

• The COVID-19 pandemic significantly impacted the material handling equipment market by disrupting global supply chains and leading to delays in production and delivery. The pandemic triggered a surge in e-commerce and online retail, increasing demand for warehouse automation and material handling solutions to manage higher volumes of goods and ensure efficient order fulfillment. However, it also caused shortages of critical components and slowed down manufacturing processes, leading to higher costs and extended lead times for equipment. The focus on health and safety further accelerated investments in automated solutions to reduce human contact and enhance operational resilience.

• The Russia-Ukraine war has had a profound effect on the material handling equipment market by exacerbating supply chain disruptions and increasing raw material costs. The conflict has led to shortages of key materials, such as steel and semiconductor components, crucial for manufacturing equipment. Additionally, geopolitical instability has impacted trade routes and logistics, further straining the supply chain. Companies are facing higher operational costs and delays, prompting them to seek more localized and resilient supply chains. The uncertainty caused by the conflict has driven firms to invest in advanced and flexible material handling solutions to better navigate the turbulent market conditions.

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List of Key Market Players in the Material Handling Equipment Market:

The Global Material Handling Equipment Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• Toyota Industries Corporation
• KION Group AG
• Jungheinrich AG
• Crown Equipment Corporation
• Hyster-Yale Materials Handling, Inc.
• Mitsubishi Logisnext Co., Ltd.
• Caterpillar Inc.
• Daifuku Co., Ltd.
• Komatsu Ltd.
• Liebherr Group

Related Reports:

Material Handling Technology Market: size is forecast to reach $213.35 Billion by 2030, after growing at a CAGR of 5.7% during 2024-2030.

Report Code: AIR 0253

Automated Material Handling Market: The adoption of AI-driven robots for tasks like picking, sorting, and transporting materials is increasing, enabling more efficient and accurate operations.

Report Code: ESR 0198

About IndustryARC:

IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. 

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.

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