The global material handling equipment is growing rapidly mainly due to the technological advancement transpired in this industry, increasingly allowing for efficient and cost-effective automation in addition to the solutions. Although existing for decades, this equipment is still evolving and constantly undergoing a number of transformations.
Evidently, manufacturers are the key driving force who with their investments and seminal efforts are bringing up more betterments in this equipment. These advancements are making material handling equipment popular and widely adopted which in turn, is escalating the market value to an unparalleled level.
In addition to supporting its end-users in achieving three main goals - increased safety, flexibility and efficiency at a reduced cost, material handling equipment also support industrial automation. The increasing automation across manufacturing industries along with the growing pressure for optimization of resources and raw materials consumption is fostering the market growth, driving the demand for material handling equipment. Additional factors such as the constant innovation in technology, up gradation of manufacturing plants and the expansion of the manufacturing base in developing nations.
Acknowledging the traction, the market is perceiving currently, Market Research Future (MRFR) in its recently published study report asserts that the already thriving global Material Handling Equipment Industry growing further will post approx. a CAGR of 5.4% from 2020 to 2027.
Global Material Handling Equipment Industry - Segment
The MRFR analysis is segmented into four key dynamics for the convenience of the report;
By Operations: Comprising Assembly, Transportation, Packaging, Distribution, among others.
By System Types: Unit Load Material Handling System, Bulk Load Material Handling System.
By Applications: E-Commerce, Automotive, Food & Beverages, Metal & Heavy Machinery, and others.
By Regions: North America, Europe, APAC and the Rest-of-the-World.
Global Material Handling Equipment Industry -Regional Analysis
The Asia Pacific accounted for the lion's share in the global material handling equipment industry owing to the rapid industrialization, burgeoning ecommerce industry, and the improved standard of living of the people in the region backed by the improving economic conditions the region is witnessing.
India and China owing to the increasing per capita income perceive the growth in the e-commerce, automotive, food & beverages, metal & heavy machinery sectors which substantiates the market growth for material handling equipment in these countries and in the region.
Europe being one of the largest producers of material handling equipment has become a prominent market witnessing huge accruals. The growth of the market in this region is attributed to the booming industrial sector in the region and the safety concerns at workplaces, especially in industries such as automotive, food & beverage and metal & heavy industries.
The North America Material Handling Equipment Industry is emerging as one of the lucrative markets globally, growing rapidly due to the stringent government regulations for safety in this region that is increasing the uptake of this equipment. The region is projected to register a modest CAGR over the assessment years. Material handling equipment also facilitates the distribution and production of materials majorly in the e-commerce industry, thereby leading to the growth of the Material Handling Equipment Industry in the region.
Material Handling Equipment Industry – Competitive Analysis
The competitive market of material handling equipment appears to be fragmented due to numerous companies are churning the market competition. Constant innovations and technologies generate strong investment opportunities. Market players strive to commercialize other techniques that can lower the production cost.
These players try to attain expertise in developing techniques, managing supply chains and in-depth domain knowledge in a number of advanced materials in addition to the prevailing strategies such as acquisition, partnership, and expansion of manufacturing facilities to gain the competitive advantage. Alongside the other strategies adopted by vendors in the market include greater commercialization of their products, promotion initiatives through trade exhibitions, and increased collaboration.
Read Full Report Summary: https://www.marketresearchfuture.com/reports/material-handling-equipment-market-3214
Key Players:
The fervent players leading the global Material Handling Equipment Industry include KION Group AG (Germany), Liebherr Group (Switzerland), Jungheinrich AG (Germany), Eisenmann AG (Germany), Viastore Systems GmbH (Germany), Columbus McKinnon Corporation (US), Hytrol Conveyor Co., Inc. (US), Crown Equipment Corporation (US), Toyota Industries Corporation (Japan), and Xuzhou Heavy Machinery Co., Ltd. (China).
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