Storage and handling equipment, Automated storage and retrieval system, Industrial trucks
DUBLIN, June 30, 2021 / PRNewswire / – The “Material Handling Equipment Market Size, Share and Trend Analysis Report by Product (Storage and Material Handling Equipment, Automated Storage and Retrieval System, Industrial Trucks), End Use Forecast , region and segment, 2021-2028 â the report was added to ResearchAndMarkets.com offer.
The global material handling equipment market size is expected to reach $ 44.5 billion by 2028. The market is expected to grow at a CAGR of 7.4% from 2021 to 2028.
Rapid industrialization and increased demand for automation of material handling equipment will drive the market growth during the forecast period. In addition, an upsurge in the growth of e-commerce globally will also serve as a catalyst for the future growth of the market. However, the lack of skilled manpower to operate the functions of the automated system can limit the adoption to some extent.
The COVID-19 pandemic has forced several businesses to operate with limited staff. Therefore, the demand for automated systems / equipment has seen a slight increase in 2020, a trend that is expected to continue over the next few years.
Although overall demand for products has declined, the pandemic has offered ways for suppliers to focus on encouraging the adoption of automated / robotic material handling systems. The year 2020 also saw an increase in demand for battery-powered trucks to meet the growing demand resulting from strong growth in e-commerce.
The increasing need for transparent supply chain processes and the demand for a sophisticated system that provides flexible operation of tasks in warehouses are believed to be driving factors for the growth of the hardware equipment market. The adoption of sophisticated automation systems, such as automated storage and retrieval systems, is increasingly used in warehouses to facilitate the storage and retrieval of raw materials and finished products.
In addition, forklifts and electric forklifts find many applications in pharmaceutical and robotic delivery systems in the food industry. On the other hand, conveyors find applications in baggage transport systems at airports. Hence, the expansion of the aviation industry in the world will boost the demand for conveyor systems, which may contribute to the growth of the market during the forecast period.
Highlights of Material Handling Equipment Market Report
- The automated storage recovery segment is expected to register a CAGR above 8% during the forecast period. Growth is attributed to increasing demand for automated systems with minimal human intervention
- The automotive sector segment was valued at $ 4.1 billion in 2020. Receiving, storing and efficiently moving automotive components in automotive production is a critical area for all OEMs and therefore requires the deployment of handling solutions.
- With rapid industrial development, Asia Pacific is expected to register a CAGR of 9.7% from 2021 to 2028. The demand is expected to come from the growing demand for India and South East Asia
Main topics covered:
Chapter 1. Methodology and scope
Chapter 2. Executive summary
2.1. Material Handling Equipment Market – Industry Overview and Key Buying Criteria, 2017-2028
Chapter 3. Prospect of Material Handling Equipment Industry
3.1. Market segmentation
3.2. Value chain analysis
3.3. Market dynamics
3.4. Mapping of penetration and growth prospects
3.5. Industry Analysis – Porter’s Five Forces Analysis
3.6. PESTEL analysis
Chapter 4. Material Handling Equipment Market: Product Outlook
4.1. Material Handling Equipment Market Estimates & Forecasts, By Product, 2020 & 2028 (USD Billion)
4.2. Storage and handling equipment
4.3. Automated storage and retrieval system
4.4. Industrial trucks
4.5. Bulk Material Handling Equipment
Chapter 5. Material Handling Equipment Market: End Use Outlook
5.1. Material Handling Equipment Market Estimates & Forecasts, By End Use, 2020 & 2028 (USD Billion)
5.3. Food and drinks
5.5. Semiconductor and electronics
Chapter 6. Material Handling Equipment Market: Regional Outlook
6.1. Material Handling Equipment Market Estimates & Forecasts, By Region, 2020 & 2028 (USD Billion)
6.2. North America
6.4. Asia Pacific
6.5. Latin America
6.6. Middle East & Africa
Chapter 7. Competitive landscape
7.1. BEUMER Group
7.2. Daifuku Co., Ltd.
7.3. Honeywell International Inc.
7.4. Kion SA Group
7.5. Mecalux, SA
7.6. Murata Machines Ltd.
7.7. SSI Schaefer AG
7.8. Swisslog Holding AG
7.9. Toyota Material Handling Group
7.10. Vanderlande Industries BV
For more information on this report, visit https://www.researchandmarkets.com/r/1s8wv3
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