Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Material Handling Equipment market. Market segmentation includes Segment (Conveying Equipment, Industrial Trucks & Lifts, Hoists, Cranes, & Monorails, Automated Storage & Retrieval Systems, Other Segments); and Application (Third-Party Logistics, E-Commerce & General Merchandise, F&B Manufacturing & Retail, Consumer Durables, Other Applications).
The global Material Handling Equipment market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Industrial Trucks & Lifts, one of the segments analyzed and sized in this study, is forecast to grow at over 4.4% and reach a market size of US$52.9 billion by the end of the analysis period. The United States is forecast to readjust to a 3.8% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$6.9 billion growing at a CAGR of 3.5% over the next couple of years. In addition, over US$5.9 billion worth of projected demand in the region will come from Rest of European markets. In Japan, the Industrial Trucks & Lifts segment will reach a market size of US$3.7 billion by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Industrial Trucks & Lifts segment in this country against this backdrop will grow at a CAGR of 5.5% over the next couple of years to create an addressable market opportunity worth US$9.8 billion by the year 2027.
Future growth in the market would be 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, among other factors. Demand for automated guided vehicles, and automated conveyors are expected to particularly register strong gains through the forthcoming years. Demand for such automated equipment is likely to stay strong, thanks to their ability to reduced labor input and thereby limit labor costs. Apart from this, machines which offer energy efficiency such as electric lift trucks are anticipated witness growing demand, thanks to increasing consumer focus on reducing costs. Anticipated rise in demand for electrical/electronic equipment and industrial machinery also bodes well for the market. The ongoing trend towards automation is expected to further gain momentum as disrupting forces such as multichannel distribution and growing consumer demand for anytime, anywhere goods delivery drives adoption of new technologies. Multichannel retailing is becoming the new normal in the distribution space as manufacturers and retail companies adopt multiple channels including retail, e-commerce, flash stores, popup stores, catalog sales to sell products. This brings with it challenges such as transitioning from the traditional batch operations to small order fulfilments and shorter order processing time, while paving the way for wider uptake of material handling equipment.
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 5912. Among this pool, 946 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 177 unique participations, a total of 81 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
Key Competitors Covered in the Report -
Mitsubishi Heavy Industries Ltd.
Rockwell Automation, Inc.
Kawasaki Heavy Industries Ltd.
Bosch Rexroth AG
Segments Covered in the Report -
Segment (Conveying Equipment, Industrial Trucks & Lifts, Hoists Cranes & Monorails, Automated Storage & Retrieval Systems, and Other Segments)
and Application (Third-Party Logistics, E-Commerce & General Merchandise, F&B Manufacturing & Retail, Consumer Durables, and Other Applications)
Geographies Analyzed in the Report -
Rest of Europe
Rest of Asia-Pacific
Rest of Latin America
Rest of Middle East
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.