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 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.
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 market growing further will post approx. a CAGR of 7.5% from 2017 to 2023.
In addition to supporting its end-users in achieving three main goals – increased safety, flexibility and efficiency at the 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.
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Material Handling Equipment Market – 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.
Global Material Handling Equipment Market – 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 Market -Regional Analysis
The Asia Pacific accounted for the lion’s share in the global material handling equipment market 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 market 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 market in the region.
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- Liebherr Group (Switzerland)
- KION Group AG (Germany)
- Jungheinrich AG (Germany)
- Viastore Systems GmbH (Germany)
- Eisenmann AG (Germany)
- Columbus McKinnon Corporation (U.S.)
- Crown Equipment Corporation (U.S.)
- Hytrol Conveyor Co., Inc. (U.S.)
- Xuzhou Heavy Machinery Co., Ltd. (China)
- Toyota Industries Corporation (Japan).
Industry/ Innovation/ Related News:
August 27, 2018 – Windsor Materials Handling (UK) announced the expansion of their business into the South coast area of the UK following the acquisition of Geolift Ltd. (UK), a material handling equipment supplier.
August 13, 2018 – Material Handling Systems, Inc. (MHS – US), a leading global provider of advanced parcel sortation systems, engineering and equipment, announced the acquisition of Officina Costruzioni Meccaniche SRL (OCM – Italy), a company specialized in automation industry, sortation system technologies to international courier and warehouse & distribution logistics companies.
The new partnership will further enhance duo’s ability to provide their customers with comprehensive, customizable offerings that address their most complex logistical needs, providing, best-in-class automation equipment and engineering across the parcel and warehouse & distribution end markets.
This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global material handling equipment market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
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