Material Handling Equipment Market To Reach $421.79 Billion By 2033

Material Handling Equipment Market Growth & Trends

The global material handling equipment market size is expected to reach USD 421.79 billion by 2033, registering a CAGR of 6.1% from 2026 to 2033, according to a new report by Grand View Research, Inc. Growing demand for warehouse operational flexibility and supply chain transparency is anticipated to have a positive impact on industry growth. The market for material handling equipment was temporarily shut down due to the outbreak of COVID-19, resulting in the shutdown of manufacturing facilities and a slowdown in the logistics industry. The ongoing suspension of business operations has a negative effect on the growth of the industry, particularly in the industrial sector.

Small hand trucks, pallet jacks, automatic guided vehicles (AGVs), and shelves or racks are required in warehouses to locate the stock, move goods quickly, manage orders, and localize the stock. The rising demand for warehouse operational flexibility, combined with increased supply chain transparency, is anticipated to drive the global demand for these products. Ongoing automation and technological improvements in the market such as the introduction of robotic systems and conveyors and the increasing demand for automated products, such as automated guided vehicles automated conveyors, and robotic systems, are expected to boost the industry growth.

The material handling equipment enhances industrial operations, ensures timely material supply, and reduces labor requirements. In addition, increasing requirements of manufacturers for optimum resource utilization and surging concerns over warehouse downtime are expected to fuel the growth of the market. Manufacturers of the product adopt several strategies, including mergers and acquisitions and joint ventures, to enhance their market penetration. For instance, in June 2022, BEUMER Group acquired FAM Group, a supplier of conveyor systems. With this initiative, BEUMER Group strengthened its market position in the minerals and mining sectors.

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Material Handling Equipment Market Report Highlights

• By product, the cranes and lifting equipment segment led the market with the largest revenue share of 36.46% in 2025. The racking and storage equipment segment is estimated to expand at the fastest CAGR of 7.2% over the forecast period, as the equipment helps in increasing storage capacity.

• Based on application, the e-commerce segment led the market with the largest revenue share of 21.47% in 2025. The pharmaceutical segment is estimated to register at the fastest CAGR over the forecast period.

• Asia Pacific dominated the global material handling equipment market with the largest revenue share of 36.50% in 2025 and is anticipated to grow at the fastest CAGR during the forecast period.

• The material handling equipment industry in China accounted for the largest market revenue share in the Asia Pacific in 2025.

Material Handling Equipment Market Segmentation

Grand View Research has segmented global material handling equipment market report based on product, application, and region:

Material Handling Equipment Product Outlook (Revenue, USD Billion, 2021 - 2033)

• Cranes & lifting equipment

• Industrial trucks

• Continuous handling equipment

• Racking & storage equipment

Material Handling Equipment Application Model Outlook (Revenue, USD Billion, 2021 - 2033)

• Automotive

• Food & Beverages

• Chemical

• Semiconductor & Electronics

• E-Commerce

• Aviation

• Pharmaceutical

• Others

Material Handling Equipment Regional Outlook (Revenue, USD Billion, 2021 - 2033)

• North America

  • U.S.

  • Canada

• Mexico

  • Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • KSA

  • UAE

  • South Africa

List of Key Players of Material Handling Equipment Market

• 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.