SELBYVILLE, Del., Oct. 28, 2019 /PRNewswire/ — The material handling equipment market revenue is expected to cross USD 200 billion by 2025. Improving the industrial sector and enhancing productivity in developing economies will drive market growth over the forecast timespan.
Some major findings in the material handling equipment market report include:
Ø Rise in automated manufacturing activities coupled with the need for improving productivity in industrial facilities will augment the material handling equipment market demand. Companies are widely adopting advanced technologies, such as big data analytics and IoT in logistics, to manage operational requirements, which is changing the way several businesses handle their operations.
Ø In October 2018, XPO Logistics, Inc., a provider of transportation and logistics services, announced plans to deploy 5,000 robots in its warehouses and distribution centers in North America, the U.K., and several other countries in Europe.
Ø Key players operating in the industry are Daifuku Co., Ltd., Columbus McKinnon, Kion Group AG, Dematic GmbH & Co., Hyster-Yale Materials Handling, Inc., JBT Corporation, Intelligrated, Inc., Flexlink, and KUKA AG. Players are focusing on introducing differentiated and advanced products to remain competitive in the market.
Ø The growing competitive nature of businesses has led to the increased adoption of advanced technologies, aiding business processes pertaining to food & beverage, 3PL, food retail, general merchandise, and other similar industries.
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The growing demand for automation from SMEs will propel the material handling equipment market growth. SMEs operating in the food & beverages, 3PL, food retail, and general merchandise industries are experiencing intense competition and need to sustain growth in the marketplace. The presence of government initiatives, such as financial support, in the form of reduced duties and tax benefits allowed SMEs to gain a foothold in the market. Automated machines and systems provide efficient work operations and monetary benefits to SMEs by saving huge amounts of labor employment costs. These companies are highly deploying material handling machines and automatic systems over human labor owing to cost savings and high efficiency compared to the traditional processes.
Demand for bulk material handling equipment is witnessing high demand in the material handling equipment market owing to the growing need to transport and control large volumes of material. The equipment handles and supports infrastructure and provides a vital bridge that ensures rapid and efficient delivery. The demand for AS/RS material handling equipment is increasing in manufacturing plants, warehouses, and distribution centers for order picking. These systems retrieve finished goods from manufacturing plants for transportation to warehouses and distribution centers. AS/RS retrieves the required goods for order fulfillment, encouraging industries to adopt the equipment over the manual order picking process to reduce labor costs and ensure efficient order fulfillment.
Browse key industry insights spread across 395 pages with 417 market data tables and 39 figures and charts from the report, “Material Handling Equipment Market Size By Product (Storage & Handling Equipment [Racks, Stacking Frames, Shelves, Bins & Drawers, Mezzanines], Industrial Trucks [Automated Guided Vehicles (AGVs), Hand, Platform & Pallet Trucks, Order Pickers, Pallet Jacks, Side-Loaders, Walkie Stackers], Bulk Material Handling Equipment [Conveyor belts, Stackers, Reclaimers, Elevators], Robotics, Automated Storage & Retrieval System (AS/RS) [Unit-Load AS/RS, Mini-Load AS/RS]), By Application (3PL, E-Commerce, Durable Manufacturing, Food & Beverage, General Merchandise, Food Retail), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025,” in detail along with the table of contents:
The material handling equipment market is expected to witness high demand from the general merchandise application segment. These solutions help to fulfill the definite application demands of the warehousing and distribution industry, such as order assembly by store planogram, multichannel in one facility, seasonal/promotional peaks, e-commerce order fulfillment, returns processing, inventory velocity, and configurations for retail store replenishment, resulting in increasing their demands. Moreover, companies are providing the equipment to specific industries including large global corporations and small specialty product companies, supporting various distribution requirements.
The Latin America material handling equipment market is expected to witness high growth in the coming years owing to the rise in industrialization and the growing manufacturing sector in the region. Manufacturing industries are increasingly adopting advanced material handling solutions for enhancing and ensuring productivity, resulting in the overall economic development of the region. The industrial sector in the region is witnessing fast growth with an increasing number of companies implementing robots and automated solutions for material handling. The expanding construction sector of the region will lead to an increased demand for performance material handling solutions.
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Partial chapter from report table of contents (TOC):
Chapter 3 Material Handling Equipment Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2014 – 2025
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.3.2 Vendor matrix
3.4 Technological & innovation landscape
3.4.1 Robotics industry outlook
3.4.2 Data analytics
3.4.3 Energy efficiency measures
3.5 Regulatory landscape
3.5.1 North America
22.214.171.124 ASME B20.1-2015
126.96.36.199 ANSI/ITSDF B56.1-2005
188.8.131.52 Federal Regulation of Occupational Health and Safety
184.108.40.206 BS EN 1554:2012
220.127.116.11 European emission regulations
18.104.22.168 Air Quality Certificate
3.5.3 Asia Pacific
22.214.171.124 IS 12663 (Part 2): 2000
126.96.36.199 The General Administration of Customs (GAC or China Customs)
188.8.131.52 The International Council on Clean Transportation
3.5.4 Latin America
184.108.40.206 Mexico’s Industrial Health and Safety Regulations
220.127.116.11 Occupational Health & Safety Act, 1993
18.104.22.168 The South African Bureau of Standards (SABS)
22.214.171.124 Driven machinery regulations, 2011
126.96.36.199 PSI (Pre-shipment inspection)
188.8.131.52 Factories and Works Act
3.6 Industry impact forces
3.6.1 Growth drivers
184.108.40.206 Attractive e-commerce industry in the U.S.
220.127.116.11 Rising labor costs and inconveniences of employing a manual workforce in North America and Europe
18.104.22.168 Technological advancements in Europe
22.214.171.124 Advent of industry 4.0 in Europe
126.96.36.199 Growing automation demand from Asia Pacific
188.8.131.52 Growing demand for automation in Europe and Asia Pacific from SMEs
184.108.40.206 Growing demand for personalized Automated Guided Vehicles (AGVs) in China
220.127.116.11 Improving industrial sector and enhancing productivity in Latin American economies
18.104.22.168 Growth in the aviation industry in MEA
3.6.2 Industry pitfalls and challenges
22.214.171.124 High initial costs
126.96.36.199 Lack of awareness
188.8.131.52 Real-time technical challenges
3.7 Growth potential analysis
3.8 Customer analysis
184.108.40.206 Major pain points
220.127.116.11 Overview of key players
18.104.22.168 Major pain points
22.214.171.124 Overview of key players
3.8.3 Durable manufacturing
126.96.36.199 Major pain points
188.8.131.52 Overview of key players
3.8.4 General merchandise
184.108.40.206 Major pain points
220.127.116.11 Overview of key players
3.8.5 Food retail
18.104.22.168 Major pain points
22.214.171.124 Overview of key players
3.8.6 Food & beverage
126.96.36.199 Major pain points
188.8.131.52 Overview of key players
3.9 Porter’s analysis
3.10 Competitive landscape, 2018
3.10.1 Company market share analysis
3.10.2 Strategy dashboard
3.11 PESTEL analysis
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Material Handling Equipment Market size to exceed $200 billion by 2025
Material Handling Equipment Market size is set to surpass USD 200 billion by 2025; according to a new research report by Global Market Insights, Inc.
SOURCE Global Market Insights Inc.