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The global material handling equipment market is expected to grow at a 5.45% CAGR during 2023-2030. In the manufacturing industry, material handling equipment is a vital link. Although it does not directly contribute to product manufacturing, it increases efficiency in product handling, sorting, transportation, and manufacturing. These machines make it possible to move enormous volumes of goods and heavy materials quickly. Material handling equipment automates numerous processes in industrial facilities, reducing the need for human interaction. The growth of worldwide material handling equipment throughout the projection period is due to this equipment complementing production activities by guaranteeing an immediate, efficient movement of goods. The increasing initiatives by the government to promote infrastructural development globally by building rail networks, seaports, airports, power plants, etc., increased foreign capital to establish manufacturing industries, the rapid growth of the e-commerce sector across the globe, rising consumer spending on durable and non-durable products,  investment to upgrade or replace existing material handling equipment with high-tech equipment, the advent of warehouse management systems will bolster the growth of the material handling equipment market.

The material handling equipment market refers to the industry that encompasses a wide range of equipment used for the movement, storage, control, and protection of materials, goods, and products in manufacturing, warehousing, distribution, and other industries. Material handling equipment is essential for improving operational efficiency, reducing manual labor, and streamlining logistics and supply chain processes.

Common types of material handling equipment include:

Forklifts: Used for lifting and moving materials over short distances. They are widely used in warehouses, distribution centers, and manufacturing facilities.

Conveyors: These are automated systems that transport materials from one location to another. They are commonly used in assembly lines, airports, and shipping facilities.

Automated Guided Vehicles (AGVs): Self-propelled vehicles that transport materials within a facility without the need for an operator. AGVs are often used for repetitive tasks in large warehouses or manufacturing plants.

Cranes: Used for lifting and moving heavy materials or goods vertically or horizontally. Cranes are commonly found in construction sites, ports, and manufacturing facilities.

Pallet Jacks: Manual or electric-powered equipment used to lift and move pallets of goods. They are commonly used in warehouses and retail environments.

Shelving and Racking Systems: Designed to store and organize materials and products efficiently. These systems can range from simple shelves to complex automated storage and retrieval systems (AS/RS).

Packaging Equipment: Machines used to package materials or products for storage, transportation, or retail purposes. This includes packaging machinery such as wrapping machines, labeling machines, and sealing machines.

Hoists and Lifts: Equipment used for lifting and positioning heavy or bulky objects. They are commonly used in construction sites and manufacturing facilities.

The material handling equipment market has been growing steadily due to factors such as increasing industrial automation, the need for efficient supply chain management, and the rise in e-commerce. Technological advancements, such as the integration of robotics and artificial intelligence in material handling systems, are also driving market growth.

It's worth noting that the material handling equipment market is influenced by factors such as economic conditions, industry trends, and government regulations. Therefore, the market size, demand, and specific trends may vary depending on the region and time period under consideration.

In November 2021, With the construction of a new supply chain solutions plant in Jinan, China, KION GROUP AG is pursuing its growth strategy in the Asia Pacific (APAC). KION's new counterbalance truck plant, which is nearing completion, will be adjacent to the new plant. This significant project, according to the global intralogistics supplier, will allow it to expand its product offering for warehouses and distribution centers in one of the most important and active material handling markets in the world. The KION Group's long-term expansion of operations in APAC, particularly in China, is critical to the company's growth strategy: in August 2020, the company began building on a new counterbalance truck manufacturing facility. The facility manufacturing forklift trucks is expected to be finished in early 2022.

The COVID-19 outbreak had slowed the growth of the material handling equipment industry in 2020. To avoid the virus from spreading, several government agencies implemented strict lockdowns. Large manufacturers' corporate development plans were hampered due to the coronavirus that hampered worldwide supply chains, halted production facilities.  The market, however, has regained momentum in 2022 with the resuming industrial operations following the relaxation of lockdown measures. During the ongoing pandemic, the business is likely to rise due to increased demand from the e-commerce market. A rise in the number of consumers who prefer to purchase online would motivate e-commerce companies to upgrade their warehouses, which will help the market outlook.

Browse 53 market data Tables and 35 Figures spread through 250 Pages and in-depth TOC on " Material Handling Equipment Market by Equipment Type (Industrial Trucks, Crane & Lifting, and Racking & Storage), by Operations (Assembly, Distributions, Transportation, and Others), by End-Use (Chemical, Consumer Goods & Electronics, Food & Beverages, Automotive, Construction, E-Commerce, Pharmaceuticals, Aviation, and Others), and Region - Global Forecast to 2030"

By equipment type, the industrial trucks dominate the market during the forecast period.

Industrial trucks will contribute to the largest share during 2023-2030 because of their wide range of applications in an industrial setting, these trucks are a preferred choice. Industrial trucks are used to transport huge containers or boxes in a large number of markets, resulting in a larger market share. Over the projection period, as logistic organizations strive toward embracing sustainable products, demand for battery-operated vehicles will grow.

Global Material Handling Equipment Market Segmentation Analysis

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“North America is anticipated to hold largest market share during the forecast period 2023-2030.”

North America holds the largest market share with increased awareness about worker safety, the need to properly manage bulk commodities and the rise of Industry 4.0 with increased IoT penetration expected to drive expansion. Furthermore, the need to reduce downtime as well as a strong focus on improving supply chain efficiency is predicted to encourage the adoption of MHE such as electric lift trucks.

Some of the major players in the global Material Handling Equipment market include BEUMER GROUP, Daifuku Co., Ltd., KION GROUP AG, Toyota Industries Corporation, Mecalux, S.A., LIEBHERR, The Manitowoc Company, Inc., Crown Equipment Corporation, Hyster-Yale Materials Handling, Inc., and Swisslog Holding AG.

Scope of the Report

Global Material Handling Equipment Market Coverage

Equipment Type Insight and Forecast 2018-2030

• Industrial Trucks
• Crane & Lifting
• Racking & Storage

Operations Insight and Forecast 2018-2030

• Assembly
• Distribution
• Transportation
• Others

End-Use Insight and Forecast 2018-2030

• Chemical
• Consumer Goods & Electronics
• Food & Beverages
• Automotive
• Construction
• E-Commerce
• Pharmaceuticals
• Aviation
• Others

Geographical Segmentation

Material Handling Equipment Market by Region

North America

• By Equipment Type
• By Operations
• By End-Use
• By Country – U.S., Canada, and Mexico

Europe

• By Equipment Type
• By Operations
• By End-Use
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

• By Equipment Type
• By Operations
• By End-Use
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Equipment Type
• By Operations
• By End-Use
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries