The global material handling equipment market is expected to reach USD 41.1 billion by 2025, according to a new report conducted by Grand View Research, Inc. The rise in manufacturing activities in the automotive, pharmaceutical, chemical, and food & beverage industries is projected to spur demand. The growing concerns for workplace safety are expected to remain a key driver.
The global material handling equipment market is anticipated to witness a high growth over the forecast period. This is accredited to the use of technologically advanced products, such as hydraulic components which are incorporated into this equipment. Furthermore, the integration of telematics solutions & tracking sensors into these products is expected to gain traction in the near future, thereby fueling the equipment sales. The rising espousal of automated storage and retrieval systems is expected to further catapult the equipment market growth over the next nine years.
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Further key findings from the report suggest:
Automated storage & retrieval systems segment captured over 25% of the total revenue in 2015 and is projected to exhibit a significant growth at a CAGR of over 6.9% from 2016 to 2025. This growth is attributed to the surging espousal of automated equipment in warehouses and manufacturing centers
On account of the wide scope of applications, these products aid in moving, protecting, and storing goods in warehouses. The e-commerce segment is expected to gain prominence over the forecast period with an estimated CAGR exceeding 10.0%.
Asia Pacific emerged as the fastest growing market and is expected to witness a healthy CAGR of over 7%, which is primarily due to the rising manufacturing activities in the developing countries of this region
The key purveyors in this industry comprise Daifuku,SSI Schaefer,BEUMER Group, Kion Group (Dematic), and Swisslog AG.
Grand View Research has segmented the global material handling equipment market on the basis of product, end-use, and region:
Material Handling Equipment Product Outlook (Revenue, USD Billion; 2014 - 2025)
Storage & handling equipment
Automated storage & retrieval system
Bulk material handling equipment
Material Handling Equipment End-Use Outlook (Revenue, USD Billion; 2014 - 2025)
Food & beverages
Semiconductor & electronics
Material Handling Equipment Regional Outlook (Revenue, USD Billion; 2014 - 2025)
Middle East & Africa
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