Market Research Report
Global Material Handling Equipment Market Forecast 2020-2028
|Published by||Inkwood Research||Product code||557745|
|Published||Content info||210 Pages
Delivery time: 2-3 business days
|Global Material Handling Equipment Market Forecast 2020-2028|
|Published: January 6, 2020||Content info: 210 Pages||
The global market for material handling equipment is projected to record a CAGR of 5.65% during the estimated period, 2020-2028. The increasing penetration of automation in all segments, the rising demand for technologically advanced equipment, and the growth in the developing economies, are the most important factors propelling the market growth.
Material handling encompasses the transportation of products in warehouses or manufacturing. There is an increasing preference for material handling equipment in sectors like agriculture, aerospace, automotive, etc., since it is a necessary aspect of the plant or warehouse maintenance. The most important factor driving market growth is the growing automation in several segments. Since the production, consumption, and distribution, are fully automated, the material handling equipment is increasingly becoming automated. The continuously changing consumer behavior, demographics, seasonal fluctuations, etc. in the e-commerce industry across the globe is resulting in the automation of warehouses. This smoothens the logistics operations, along with impacting profit margins, thereby resulting in increasing market growth opportunities for the material handling equipment.
The market is assessed to be competitive in nature due to the presence of several local and international players. The products and services offered by these players are both, manually operated and automated. Further, material handling equipment entails uninterrupted technical support and maintenance in order to function efficiently. It requires skilled technicians, and several market regions across the globe face a shortage of skilled labor. This phenomenon hinders the growth of the market.
The market regions taken into consideration for the further analysis of the global material handling equipment market include, Europe, Asia Pacific, North America, and the rest of the world. The Asia Pacific market region, with high growth potential, is estimated to be the fastest-growing market region during the forecasted period. As of 2019, the market region also encompasses the largest market share in terms of revenue. There is increasing automotive production in developing countries like India and China. The increasing installation of automated material handling equipment in many countries of the region drives its market growth. The growing number of warehouses opting for automation for growth prospects, due to the rising number of supermarkets and hypermarkets in the region further aids in market growth.
The increasing competition between the market players contributes to the increasing revenue of the market. Some of the renowned companies in the market include, Daifuku Co., Ltd., Cargotec Oyj, Columbus McKinnon Corporation (CMC), Beumer Group, Clark Material Handling Company (CMHC), Crown Equipment Corporation, etc.
Our report offerings include:
Explore key findings of the overall market
Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
Market Segmentation cater to a thorough assessment of key segments with their market estimations
Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments