Global Material Handling Equipment Market Size to worth USD 418.5 Billion by 2033: Market Study Report

Global Material Handling Equipment Market Size to worth USD 418.5 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Material Handling Equipment Market Size is Expected to Grow from USD 225.7 Billion in 2023 to USD 418.5 Billion by 2033, at a CAGR of 6.37% during the forecast period 2023-2033.  

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Material Handling Equipment Market Size, Share, and COVID-19 Impact Analysis, By Equipment Type (Transport Equipment, Handling Equipment, Racking & Storage Equipment, and Others), By Industry (Consumer Goods & Electronics, Automotive, Food & Beverages, Pharmaceutical, Construction, Mining, Semiconductors, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.     

Material handling equipment market refers to the use of a tool or machine for storage, processing, transporting, or packaging materials. Fully automated industrial facilities have been established in industrialized nations as a result of the market's continuous technological advancements and growing use of automation. The market for material handling equipment is expected to rise as a result of the continuous modernization of industrial infrastructure and facilities to increase their production capacity. The ability of material handling equipment to increase the efficiency and speed of the picking and sorting processes is offering growth opportunities for the material handling equipment market. The rapid industrialization and high demand for automation in material handling equipment are expected to propel the market. Further, the growing e-commerce and implementation of automated guided vehicles are supporting the market growth. On the contrary, the increased investment required for integrating material handling equipment and frequent maintenance are challenging the market.

The transport equipment segment is anticipated to grow at the fastest CAGR growth during the forecast period.

Based on the equipment type, the global material handling equipment market is divided into transport equipment, handling equipment, racking & storage equipment, and others. Among these, the transport equipment segment is anticipated to grow at the fastest CAGR growth during the forecast period. The increasing transportation industry driving the need for equipment for transferring material is driving the market demand in the transport equipment segment.

The construction segment is dominating the global material handling equipment market during the forecast period.

Based on the industry, the global material handling equipment market is divided into consumer goods & electronics, automotive, food & beverages, pharmaceutical, construction, mining, semiconductors, and others. Among these, the construction segment is dominating the global material handling equipment market during the forecast period. The increased infrastructure development and government policies, initiatives, and funds to develop logistic parks, ports, airports, and manufacturing facilities are driving the market growth.

Asia Pacific is projected to hold the largest share of the global material handling equipment market over the forecast period.

Asia Pacific is projected to hold the largest share of the global material handling equipment market over the forecast period. The increasing automotive and manufacturing facilities along with the growing construction activities in the region are responsible for driving the market for material handling equipment. Further, the adoption of material handling in the food retail sector due to their ability to enhance the efficiency of the picking and sorting processes is propelling the market growth.

North America is predicted to grow at the fastest CAGR in the material handling equipment market over the forecast period. This is attributed to the strong presence of key market players, technological advancements, and innovative product offerings that significantly contribute to driving the market growth. The need for modern products in warehouses, prompting companies to provide high-quality products is also driving the market demand.

Company Profiling 

Major key players in the material handling equipment market include BEUMER GROUP, Daifuku Co., Ltd., Honeywell International, Inc., KION GROUP AG, Mecalux, S.A., Murata Manufacturing Co., Ltd., SSI SCHAEFER, Swisslog Holding AG, TOYOTA INDUSTRIES CORPORATION, Vanderlande Industries B.V., and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In February 2024, Bobcat unveiled its fully rebranded material handling product lineup at LogiMAT 2024, featuring forklift trucks and warehouse equipment under the integration of Doosan Industrial Vehicle (DIV).

• In September 2023, Yale Lift Truck Technologies launched a new Outdoor Reach Truck, which applies smart design to meet the operational needs of logistics businesses.

• In May 2023, Toyota Material Handling (TMH), the industry leader in material handling innovation, is launching three new electric forklift models, adding to the company’s industry-leading lineup of material handling products and solutions.

• In April 2023, Clark expanded its GEX20-30L and GEX40-50 electric forklift series to include models with an 80-volt lithium-ion battery (Li-ion), which further extends the product range in the segment of electric counterbalance trucks with Li-ion technology.

• In April 2023, Crown is launching the newly developed SP 1500 Series of high-level order pickers across Europe. Pioneering features include an ergonomically optimised operator compartment with unmatched all-around visibility and a wide variety of customisable controls, all of which are designed to make order picking easier and safer.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global material handling equipment market based on the below-mentioned segments:

Global Material Handling Equipment Market, By Equipment Type

• Transport Equipment
• Handling Equipment
• Racking & Storage Equipment
• Others

Global Material Handling Equipment Market, By Industry

• Consumer Goods & Electronics
• Automotive
• Food & Beverages
• Pharmaceutical
• Construction
• Mining
• Semiconductors
• Others

Global Material Handling Equipment Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa