Global Market for Material Handling Equipment
Dublin, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The "Material Handling Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Material Handling Equipment Market to Reach US$156 Billion by the Year 2026
The rising need for global production companies to automate operations, and foster flow of goods in an efficient manner is the key force driving the market, at present. Growth in the market is also driven by improving investment in the construction and industrial sector, growing consumer spending on non-durable as well as durable products, improvement in fixed investment spending, and rise in mining activities worldwide.
Growth in the MHE industry is further underpinned by the replacement of antiquated machinery with new automated systems and robotics amid the increasing production shift towards artificial intelligence and Industry 4.0. A notable trend in the industry is increasing switch to cleaner battery-powered electric materials handling systems.
Demand for automated guided vehicles, and automated conveyors are expected to particularly register strong gains through the forthcoming years. Mature industrialized countries in Europe and the US contribute to the bulk of revenues, fueled by healthy replacement demand and the move towards automation and modernization of production processes in key end-use sectors. Amid the COVID-19 crisis, the global market for Material Handling Equipment estimated at US$127.7 Billion in the year 2022, is projected to reach a revised size of US$156 Billion by 2026, growing at a CAGR of 4.7% over the analysis period.
The U.S. Market is Estimated at $33.3 Billion in 2022, While China is Forecast to Reach $27.3 Billion by 2026 The Material Handling Equipment market in the U.S. is estimated at US$33.3 Billion in the year 2022. The country currently accounts for a 26.39% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$27.3 Billion in the year 2026 trailing a CAGR of 6.4% through the analysis period. Hoists & Cranes Segment to Reach $21.7 Billion by 2026 Hoists and Cranes operate in a fixed location and a single work place. The equipment is used primarily to handle heavy loads and find application in areas of construction, shipbuilding and shipping industries. Electric drives are gaining traction in the material handling equipment sector, particularly in the crane and hoists segment. . Select Competitors (Total 463 Featured):
BEUMER Group GmbH & Co. KG
Honeywell Safety and Productivity Solutions (SPS)
SSI SCHAFER - Fritz Schafer GmbH
Vanderlande Industries Nederland B.V.
Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS
Global Material Handling Equipment Market Heading towards Substantial Gains
Trend towards Industry 4.0 Redefines Material Handling Equipment Market
The Internet of Things Gains Prominence
IIoT Applications in Material Handling Equipment
Predictive Analytics: Simplify Decision Making
Big Data: Helps Identify the Best WM Practices
Mobility Devices Take Center Stage
Wearable Devices: Pilot Adoption Underway
3D Printing to Transform the Supply Chain
Companies Improving Traceability and Enhancing Material Handling Efficiency
Integration of MHE with Warehouse Management Systems
Third Party Logistics (3PL): Expanding in Industrial Manufacturing, Retail and Wholesale Sectors
Technology Tools Seek Wider Role in 3PL Domain
Expanding Retail Industry Generates Significant Opportunities
e-Commerce Emerges as New Growth Driver
Uptrend in e-Commerce Impacts Automated Conveyor Systems
e-commerce Bringing Changes in Supply Chain Management
Food & Beverage Manufacturing & Retail: One of the Leading Application Markets
Growing Importance of Automation & Technology Drive MHE in F&B Industry
Material Handling Market Steps Up Focus on Sustainability
Aging Workforce Drives Demand for Automated and Ergonomic Systems
Focus Intensifies on Cost-Effective MH Solutions
Traditional Supply Chain Facing Stiff Competition from Omnichannel Commerce
Technological Advances to Propel the Industry
Driverless Vehicles and Drones: No Longer a Distant Reality
Productivity and Safety Gain Immense Attention
Voice Recognition Systems Find Way
Select Product and Application Trends
Demand Goes Strong for Smart Conveyor Equipment
Modular Designed Conveyor Systems Add Versatility
Automated Lift Trucks Witness Increasing Adoption
Technologies Making Their Way into Lift Trucks
Pallet Trucks Grow in Sophistication
Demand for Automated Forklifts Picks up in Emerging Countries
Industry Demand Shifts towards Electric Trucks
Adoption of Electric Drives in Cranes and Hoists on Rise
Lithium Batteries Emerge as Hottest Trend
Advanced Material Handling Technologies Systems Improve Supply Chain Excellence
Automated Material Handling Equipment Make a Cut
Unit Load Systems Seek Bigger Role
Strong Contribution from North American Automated MHE Market
Advanced Robotics Impacts Automated Material Handling Equipment
Automation Initiatives of Industrial Units Spur Demand for AGVs
Advancements Lead to Expanded Opportunities for AGVs
Increasing Automation in Manufacturing Industries
Transition of Material Handling in Automobile Industry
Expansion of E-Commerce & Retail Industries
Entry of Start-Ups with Warehouse Automation Solutions
Automated Systems Gain Traction in Consumer Electronics Production Units
Rising Adoption of Automated Systems to Boost Global Pharmaceutical Material Handling Equipment Market
4. GLOBAL MARKET PERSPECTIVE III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/k9stq7
Global Market for Material Handling Equipment
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