Global Material Handling Equipment Market- Industry Trends, Competition Tracking and Forecast Analysis to 2026
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.
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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.
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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.
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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.
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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.
The material handling
equipment market has been undergoing some remarkable
growth dynamics, shaped increasingly by digital technologies and environmental
sustainability concerns of product development. Over the decades, the feedstock
variability and the onslaught of cheaper substitutes have squeezed in profit
margins of the chemical and materials sector. On the other hand, the value
chain of several businesses in the material handling equipment market has
undergone overhaul, increasingly rendering some aspiring players with greater
control over the forces and demand. The penetration of Industry 4.0 in in the
market has stirred game-changing trends for range of stakeholders in the
overall chemicals and materials sector. Manufacturing and production
environments of businesses in the material handling equipment market are
keen on formulating and implementing strategic frameworks that will turn them
into digital enterprises.
Companies in
the material handling equipment market have
increasingly shifted gears with wide application of digital technology across
the continuum, from raw material sourcing to manufacturing to generation of
final output, to warehousing to final distribution operations. Among the
various affects, the market is witnessing new growth economics due to thinning
of line between specialty and commodity businesses that are associated with the
larger ecosystem. At the same time, new growth parameters are being vigorously
being debated as industry stakeholders put greater emphasis on the circular
economy processes.
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