The global material handling equipment market size was US$ 40.1 billion in 2021. The global material handling equipment market is forecast to grow to US$ 69.9 billion by 2030 by growing at a compound annual growth rate (CAGR) of 7% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The growing deployment of automated solutions and robots is forecast to surge the growth of the global material handling equipment market. Automated products enhance the efficiency of processes. In addition, they are also considered cost-effective for managing goods in warehouses. The benefits of automated technology will drive the material handling equipment market forward.

The growing number of advancements and rising demand for automation in various industrial verticals, such as food & retail, and e-commerce, will drive the market growth. In addition, material handling equipment finds its applications in automotive, chemicals, aviation, semiconductor & electronics, healthcare, metals, and other industries. Thus, the growth of these industries will drive the growth of the material handling equipment market.

The rising number of warehouses will surge the demand for material handling equipment in the coming years. Furthermore, the rising demand for electric material handling solutions will benefit the overall market.

Growing concerns over environmental pollution and the rising need for fuel-efficient solutions will accelerate the growth of the material handling equipment market. On the contrary, the high initial cost of material handling equipment may restrict the growth of the market.

COVID-19 Impact Analysis

The COVID-19 pandemic created various disruptions for the food and beverage, automotive, chemicals, aviation, electronics, and other industries. As a result, it also hampered the growth of the global material handling equipment market. The demand for equipment reduced drastically. Various end-user industries had to put a pause on their operations in order to abide by the rules. Thus, it restricted the growth of the global material handling equipment market. Furthermore, import-export bans and other such challenges hampered the manufacturing activities, which ultimately influenced the global material handling equipment market.

Regional Analysis

North America is forecast to hold the highest market share in the global material handling equipment market. The growth of the market is attributed to the rising penetration of advanced technologies and growing automation across various industrial verticals in the region. Furthermore, the presence of prominent end-use industry players will propel the regional material handling equipment market forward.

Competitors in the Market

'Daifuku Co., Ltd.
Jungheinrich AG
BEUMER Group
Kion Group AG
Mecalux, S.A.
Toyota Industries Corporation
Hyster-Yale Materials Handling, Inc.
JBT Corporation
SSI Schaefer
Murata Machinery
KUKU AG
Other Prominent Players
Market Segmentation

The global material handling equipment market segmentation focuses on Product, System Type, Function, Industry, and region.

Based On Product

Forklifts
Conveyors and Sortation Systems
Automated Storage and Retrieval Systems (ASRS)
Cranes
Automated Guided Vehicles (AGV)
Based on System Type

Unit Load Material Handling Systems
Bulk Load Material Handling Systems
Based on Function

Storage
Transportation
Assembly
Packaging
Distribution
Waste Handling
Based on Industry

Automotive
Chemicals
Aviation
Semiconductor & Electronics
E-Commerce
Food & Beverages
Healthcare
Metals and Heavy Machinery
Based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America