Materials and products often need facilities for storage, protection and retrieval. And, material handling equipment may provide just that to users. A combination of tools may in fact provide the perfect control through facilitating the movement and other tasks mentioned here. And, thus these are widely used in manufacturing plants and warehouses. And, as they improve on logistics, they save on costs, thus gaining popularity among users. These also massively contribute to locating stock and maintaining inventory, preparing orders, etc.
Thus, owing to the need to utilize floor space optimally and efficiently, the global material handling equipment market is set to a chart a high growth trajectory between 2018 and 2026. Some developments that seem critical for the growth in the global material handling equipment market are outlined below:
- A massive wave of automation is sweeping businesses to much growth across industry verticals. And, the reasons are not hard to find. For instance, using these equipment not only can layout of plants can be better put to use but also supply chain can be made highly efficient. Additionally, at the manufacturing plants, downtime can be minimized. This is critical for businesses to plug wastage of resources. Besides, as safety concerns mount, automation becomes more important now than ever. Thus, innovation also plays a crucial role in the market landscape. And, thus a number of market players are investing themselves heavily in the zone. This adds to the growth of the market.
- The future is material handling equipment market will be marked by high control methodologies and will see artificial intelligence as a crucial part of the technology. This not just changes the outlook of how businesses grow in the future but also adds to much growth in the global material handling equipment market over the forecast period.
Global Material Handling Equipment Market: Overview
Material handling equipment is a tool or a combination of tools used facilitate the movement, protection, storage, and retrieval and control of materials and products. This equipment is used to manage the storage and movement of good and products in warehouses or manufacturing plants. Material handling equipment tends to increase productivity by improving logistics in manufacturing plants. It is required in warehouses or manufacturing plants for quick movement of goods or products, locating stock, preparing orders, and localizing stock. Increase in need for optimum utilization of floor space, efficient and smooth in and outflow of material, streamlined plant layouts, efficient supply chain, and minimization of downtime at manufacturing plants are the key trends driving the material handling equipment market. Moreover, a shift toward automation in material handling equipment is likely to propel the market.
Emphasis on automation, safety, and productivity is increasing in the global material handling equipment market. Companies are focusing on innovating equipment based on these three factors and as per customer requirements. In the future, high control methodologies are expected to be used in the material handling equipment market. Integration of electronic intelligence with material handling equipment is expected to change the outlook for the global material handling equipment market over the forecast period.
Material handling equipment is available in a wide variety of configuration and types such as conveying equipment, bucket conveyor, screw conveyer, vibrating conveyer, roller conveyer, magnetic belt conveyer, chain conveyer, platform truck, walkie stacker, pallet jack, platform truck, etc. Based on type, the global material handling market can be categorized into storage and handling equipment, engineered systems, industrial trucks, and bulk material handling equipment. Storage and handling equipment includes racks such as pallet trucks, push-back racks, and sliding trucks; stacking frames, shelves, bins & drawers, etc. Engineered systems on the other hand are typically automated material handling equipment such as AS/RS, conveyor systems, robotic delivery system, and automated guided vehicles. Industrial trucks such as forklift, hand trucks, pallet trucks, walkie stackers, side loader, etc. are used to handle large materials or containers around the manufacturing floor. Bulk material handling equipment includes conveyor belts, stackers, reclaimers, and bucket & grain elevators.
Global Material Handling Equipment Market: Regional Outlook
The material handling equipment market in Asia Pacific is expected to expand at a rapid pace. Material handling equipment such as electric lift trucks is expected to see gains in the North America, as end-users look forward to reduce downtime and ensure an efficient supply chain. Expansion in e-commerce is anticipated to stimulate demand for material handling equipment, as business is increasingly conducted in energy-efficient warehouses in developing countries such as China and India. Furthermore, the market share of India and China is expected to witness significant rise in near future, due to rise in manufacturing output, which is augmenting demand for the same. Countries in Western European such as Spain, France, and Portugal are among the most prominent users of material handling equipment globally, owing to the fact that manufacturers in these regions have adopted automated equipment as an answer to high labor costs. Consumption of energy-efficient material handling equipment is anticipated to increase in Japan and Germany due to improved manufacturing conditions.
Global Material Handling Equipment Market: Key Players
Currently, the global material handling equipment market is experiencing consolidation between industry players. For example, in 2013, Interroll acquired Portec Group International, Kalmar acquired Mareiport, and Toyota Industries acquired Cascade in 2012. Companies are also entering into strategic partnerships in the material handling equipment market. For instance, in 2014, Liebherr and Kamaz entered in strategic partnership. Prominent players operating in the global material handling equipment market include Liebherr Group, KION Group AG, Jungheinrich AG, Viastore Systems GmbH, Eisenmann AG, Beumer Maschinenfabrik GmbH, Jervis B. Webb Company, Columbus McKinnon Corporation, Crown Equipment Corporation, Hyster-Yale Materials Handling, Inc., Hytrol Conveyor Co., Inc., Manitowoc Company, Inc., Xuzhou Heavy Machinery Co., Ltd., and Toyota Industries Corporation. Koke Inc.
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