Material Handling Equipment Market Size, Share & Trends Report

Material Handling Equipment Market Size, Share & Trends Analysis Report By Product (Cranes & Lifting Equipment, Racking & Storage Equipment), By Application, By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-1-68038-357-7
  • Number of Pages: 137
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the material handling equipment market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for material handling equipment market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of material handling equipment market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Material Handling Equipment Market Categorization:

The material handling equipment market was categorized into four segments, namely product (Cranes & Lifting Equipment, Industrial Trucks, Continuous Handling Equipment, Racking & Storage Equipment), application (Automotive, Food & Beverages, Chemical, Semiconductor & Electronics, E-commerce, Aviation, Pharmaceutical), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The material handling equipment market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The material handling equipment market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seventeen countries, namely, the U.S.; Canada; the UK.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Mexico; Argentina; Saudi Arabia; and South Africa

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Material handling equipment market companies & financials:

The material handling equipment market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • BEUMER GROUP - BEUMER GROUP, founded in 1935 and headquartered in Beckum, Germany, is a global leader in the development and manufacturing of intralogistics systems. These systems encompass various functions, including packaging, conveying, loading, sortation, palletizing, and distribution. With a strong focus on quality, the company and its subsidiaries offer comprehensive system solutions and an extensive customer service network to clients worldwide. Catering to various industries such as food/non-food, bulk materials, piece goods, airport baggage handling, mail order, and construction, BEUMER GROUP has established itself as a trusted partner in the field of logistics. The company's portfolio includes several innovative startups dedicated to developing cutting-edge solutions for logistics challenges, including Codept, Sparrow, Airsiders, ELARA, Liquisto, Countercheck, Cricleback, and HOLOCENE. One of the company's notable offerings is its Crisplant high-speed baggage handling system, which significantly enhances efficiency and overall service in airport baggage handling. Additionally, BEUMER GROUP serves as a full-line supplier for the building material industry, providing equipment for conveying, loading, filling, palletizing, and packaging loose and bagged bulk materials. Recognizing the importance of e-commerce logistics, the company also offers tailored solutions for this sector. These solutions encompass various stages of the logistics process, including goods receiving, returns handling, storage, retrieval, order picking, sorting, packing, and shipping. By effectively controlling the material flow, BEUMER GROUP ensures seamless operations for e-commerce businesses. Furthermore, the company extends its expertise to the mining industry, offering bulk handling solutions through advanced conveying technology. Its comprehensive range of products and systems for the mining sector includes conveying and loading technology, ship loaders, pipe conveyors, bulk loading heads, blending beds, conveyor belts, overland belt conveyors, and bulk material handling. Lastly, BEUMER GROUP provides loading and transport solutions for ports and terminals. Its products and systems in this domain encompass conveying and loading technology, ship loaders, and blending beds. The company contributes to the smooth operation of ports and terminals worldwide by offering reliable and efficient solutions.

  • Daifuku Co., Ltd. - Daifuku Co., Ltd., founded in 1937 and headquartered in Tokyo, Japan, specializes in material handling solutions. The company operates various facilities, including a warehouse, distribution center, hospital, columbarium, airport, flat panel display factory, semiconductor plant, and service station. Daifuku and its subsidiaries, Daifuku North America Holding Company and Daifuku Oceania Limited, design and manufacture logistics equipment. They also produce and sell personal computer (PC) peripheral devices, network equipment, and industrial computers. Additionally, the company manufactures and distributes baggage transfer systems widely used in airports. Daifuku provides comprehensive support to various industries, offering system integrator solutions, consulting services, after-sales support, and 24-hour assistance. They also offer remote monitoring of equipment operation and preventive maintenance services. Daifuku's solutions include wireless power supply, sorting and picking systems, conveyor systems, storage systems, car wash machines, IT systems, and material handling tools. Their clientele spans various sectors such as cleanroom, public, distribution, airport, automotive, manufacturing, etc.

  • Honeywell International Inc. - Honeywell International Inc. was founded in 2001 and is headquartered in Ohio, U.S. The company is a comprehensive provider of intelligent automated material handling systems, enhancing distribution and fulfillment productivity for retailers, manufacturers, and logistics providers worldwide. Honeywell offers a wide range of automation equipment, software, services, and support. Their expertise lies in manufacturing, designing, integrating, and installing complete material handling automation solutions, including conveyor systems, IntelliSort sortation systems, Alvey palletizers and robotics, and automated storage and retrieval systems. Advanced machine controls and software manage these solutions. Additionally, Honeywell provides scalable warehouse execution systems, which encompass software suites that oversee the fulfillment process, including equipment, workforce, and business analytics. These systems are complemented by voice and light-directed picking and putting technologies. Honeywell Intelligrated also supplies high-quality OEM and commodity parts for renowned materials handling industry brands, simplifying parts ordering while maintaining superior quality. The company further offers innovative material handling solutions, such as inbound handling, which reduces time and workforce expenses associated with incoming processing at distribution centers. Moreover, Honeywell assists with outbound handling and sortation systems, optimizing shipping activities and enabling cost-saving measures to keep shipping costs low and profitability high for distribution centers. In addition to these services, Honeywell Intelligrated also specializes in packaging/value-added services, palletizer and depalletizer applications, various types of picking (piece, case, pallet), replenishment, sortation, and conveyor systems, as well as storage and buffering solutions.

  • KION GROUP AG - Established in 2006 and headquartered in Frankfurt, Germany, KION GROUP AG is a renowned supplier of industrial trucks and supply chain solutions. The company's diverse product portfolio includes forklift trucks, warehouse trucks, integrated automation technology, and software solutions for optimizing supply chain operations. Additionally, KION Group offers a comprehensive range of connected services. With its logistics solutions, the company effectively enhances the movement of material and information within factories, warehouses, and distribution centers across more than 100 countries worldwide. As a prominent member of the MDAX, KION Group holds the distinction of being Europe's leading manufacturer of industrial trucks. The company boasts several well-known brands, including Dematic, Linde, STILL, Baoli, Fenwick, and OM. Dematic, in particular, is a global leader in warehouse automation, providing intelligent supply chain and automation solutions. Linde and STILL are esteemed premium brands that offer high-value industrial trucks. On the other hand, Baoli specializes in low-value and economy industrial trucks. Fenwick, a regional brand, played a significant role as one of the primary suppliers of material handling products in France in 2020. Lastly, OM stands as a market leader in India.

  • Mecalux, S.A. - Mecalux, S.A., founded in 1966 and headquartered in Barcelona, Spain, specializes in the design, manufacturing, sale, and services of metal racking, automated warehouses, and other storage solutions. The Mecalux Group's growth and development strategy focuses on various factors, including the establishment of new branches, expansion of sales distribution networks, investment in research and development, automated warehouse business, and the logistics web Logismarket. This strategic approach has ensured the delivery of high-quality products and exceptional client service for the past 50 years. Mecalux serves various industries: retail, chemical and pharmaceutical, automotive, food and beverage, industrial manufacturing, third-party logistics, and consumer electronics. As the leading storage company in Spain and the third-largest global company in its field, Mecalux sells its products to over 70 countries. The company's prominent position is attributed to its utilization of cutting-edge technology and extensive distribution network across various countries such as France, Mexico, Slovakia, Spain, Belgium, Portugal, Holland, the U.S., Italy, the UK, Germany, Poland, the Czech Republic, Turkey, Canada, Panama, Argentina, Peru, Uruguay, Chile, and Brazil.

  • Murata Manufacturing Co., Ltd. - Murata Manufacturing Co., Ltd., founded in 1950, is headquartered in Kyoto, Japan. The company operates across three key segments: components, modules, and others. Murata provides a range of products within the components segment, including capacitors, piezoelectric components, and other electronic components. The company offers communication modules, power supplies, and various other modules in the modules segment. The other segment encompasses machinery manufacturing, welfare services, and software sales. Murata's extensive product portfolio includes multilayer ceramic devices, multilayer ceramic capacitors, ceramic filters, SAW filters, ceramic resonators, piezoelectric buzzers, piezoelectric sensors, EMI suppression filters, short-range wireless communication modules, connectors, isolators, power supplies, circuit modules, inductors, sensors, and lithium-ion batteries. The company's primary focus lies in the research, production, and sales of electronic devices made from fine ceramics. Murata continuously strives to develop and enhance its fundamental technology bases, encompassing materials, front-end process, product design, back-end process, and analytical technology. As of 2021, the components segment accounted for the highest sales, representing 76.5% of the company's total revenue, while the modules segment accounted for 23.5% of sales.

  • SSI SCHAEFER - SSI SCHAEFER, founded in 1937 and headquartered in North Carolina, U.S., is a renowned manufacturer of storage and logistics systems. With expertise in six market sectors, including food retail, food and beverage, retail and wholesale, healthcare, cosmetics, industry, and fashion, the company offers a wide range of solutions. These include systems, storage and conveyor systems, workstations, logistics software, waste engineering, and recycling. SSI SCHAEFER provides innovative storage systems for small and large load carriers, overhead conveying systems, conveying systems, and automated guiding vehicles. They also offer manual, semi-automatic, and fully automated picking systems for fashion logistics. In the industrial sector, the company provides small load carriers, storage systems, pallet racks, container systems, automated guided vehicles, workstations, and logistic software known as WAMAS. SSI SCHAEFER offers high bay warehouses, storage and shuttle systems, KPIs and dashboards, and SSI case picking for the food industry. In the food and beverage industry, they provide mobile pallet racks, SSI orbiters, pallet conveying systems, automated guided vehicles, and storage systems. For the healthcare and cosmetic sectors, the company offers manual picking, partially automated and fully automated picking systems, containers, trays, auto-guided transport systems, robots for picking and pallet loading, and a wide range of goods-to-person systems. SSI SCHAEFER also excels in implementing complete logistics systems, including IPMA-certified project management, comprehensive system planning and consulting, turnkey systems, and tailored service and maintenance agreements. With a global presence in countries such as India, Australia, China, Hong Kong, Indonesia, Malaysia, the Philippines, Saudi Arabia, Singapore, South Africa, South Korea, Taiwan, Thailand, and Vietnam, the company had a workforce of 10,500 employees worldwide in 2021.

  • Swisslog Holding AG - Swisslog Holding AG, founded in 1900 and headquartered in Aarau, Switzerland, is renowned for its commitment to quality, innovation, and in-house development of robotics technologies. The company specializes in providing data-driven and robotic solutions for logistics automation in collaboration with KUKA and offers reliable modular services tailored to meet the unique requirements of businesses. Their comprehensive range of services includes concept studies, consulting, project implementation, cutting-edge technologies, customer service, and software. Swisslog Holding AG excels in automated storage and retrieval systems, automated transport and conveyor systems, and picking and palletizing solutions. They cater to various industries, including beverage, pharmaceutical, retail and e-commerce, frozen food, e-grocery fulfillment, organic and natural food, micro fulfillment, vertical farming, banking, automotive, home and personal care, and tobacco. With a strong focus on customer satisfaction, the company provides an extensive range of customer service portfolios, encompassing field service, spare parts, modernization and expansion, system operations, condition monitoring, training, ongoing optimization, and 24/7 support. Operating in approximately 20 different countries across Europe, Asia & Oceania, the Americas, and the Middle East & Africa, Swisslog Holding AG has a global workforce of over 2,100 employees as of 2021.

  • TOYOTA INDUSTRIES CORPORATION - TOYOTA INDUSTRIES CORPORATION, established in 1926 and headquartered in Aichi, Japan, is a company that specializes in the manufacturing and sales of various products. These include textile machinery, materials handling equipment, automobiles, and automobile parts. The company also focuses on the development, production, sales, and services of a wide range of products, particularly industrial vehicles such as lift trucks and material handling systems. TOYOTA INDUSTRIES CORPORATION operates through eight primary business segments: materials handling, vehicle, engine, car air conditioning compressor, automobile, electronic parts, textile machinery, and others. Its materials handling equipment/logistics business offers lift trucks, industrial vehicles, and efficient logistics solutions. The automobile business engages in various car-related activities, leveraging synergies among its divisions in development and production. The textile machinery business provides state-of-the-art weaving machinery, spinning machinery, and quality monitoring solutions that incorporate advanced technologies in controlling, communications, and mechatronics. In terms of revenue shares in 2022, the material handling equipment segment accounted for 66.1%, while the vehicles segment contributed 3.1%. The engine segment, car air-conditioning compressor segment, electronic parts, automobile, and textile machinery segments represented revenue shares of 9.9%, 13.2%, 3.1%, 29.3%, and 2.6%, respectively. The other segment had the lowest revenue share of 2.0% in 2022.

  • Vanderlande Industries B.V. - Vanderlande Industries B.V., founded in 1949 and headquartered in Veghel, Netherlands, specializes in logistics automation for warehousing, airports, and parcel sectors. With a wide range of integrated solutions, including innovative systems, intelligent software, and life-cycle services, Vanderlande Industries provides fast, reliable, and efficient automation technology. The company operates through three primary business segments: airports, parcels, and warehousing. Vanderlande Industries offers check-in, security screening, transportation, bag storage, bag sortation, and reclaim services within the airports segment. The company provides innovative systems for general merchandise, food, and fashion sub-segments in the warehousing segment, covering goods receiving, storage, picking, sortation, shipping, and internal transport. The parcel segment focuses on unloading, sorting, loading, and screening, catering to various channels such as e-commerce, retail, and omnichannel. Vanderlande Industries has a global presence with offices in the Netherlands, Germany, Belgium, France, the UK, Spain, China, Canada, South Africa, India, and the U.S. Additionally, the company has established customer centers worldwide. As of 2021, Vanderlande Industries employs approximately 9,000 individuals globally.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Material Handling Equipment Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2021, historic information from 2017 to 2020, and forecast from 2022 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Material Handling Equipment Market Report Assumptions:

  • The report provides market value for the base year 2021 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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