Material Handling Equipment Market Future-proof Strategies: Trends, Competitor Dynamics, and Opportunities 2025-2033

Key Insights

The Material Handling Equipment Market size was valued at USD 216.6 USD billion in 2023 and is projected to reach USD 325.69 USD billion by 2032, exhibiting a CAGR of 6.0 % during the forecast period.MHE (material handling equipment) includes various devices and machines which are specially designed to move, store and transport materials within the industrial and manufacturing environments. Using different types of equipment designed for various aims, such as conveyors, forklifts, cranes, and automatic guided vehicles (AGVs), this crucial equipment plays a pivotal role. Every type of mobile heavy equipment has particular attributes that facilitate high productivity and safe operation. For example, conveyors enable smooth materials handling, and in turn, forklifts provide flexibility in handling and movement of large loads. Cranes are better at load handling and positioning, whereas AGVs are automatic machines that drive by themselves based on smart paths, which leads to high productivity and labour reduction. The industrial application scope of MHE covers modern technologies, including those applicable to manufacturing, logistics, construction, and retail. The MHE is helpful when it comes to the streamlining of material handling processes and through this, operational efficiency is enhanced, manual labour is reduced, errors are minimized and most importantly; workplace safety is improved.

Material Handling Equipment Trends

• Growing adoption of automation and robotics
• Increasing demand for e-commerce fulfilment
• Emphasis on safety and ergonomics
• Sustainable and energy-efficient solutions
• Growth of the automotive, food & beverage, and pharmaceutical industries

Driving Forces: What's Propelling the Material Handling Equipment Market

• Surging Labor Costs and Automation Imperative: Rising labor wages, coupled with a shortage of skilled workers, are driving the adoption of automated material handling solutions to increase operational efficiency and reduce costs.
• Enhanced Supply Chain Optimization: The evolving global supply chain landscape demands robust and flexible material handling systems to ensure seamless flow of goods, optimize inventory management, and minimize downtime.
• Escalating Industrial Production: The growing manufacturing and industrial sectors across emerging economies are fueling the demand for material handling equipment to handle increasing production volumes and streamline production processes.
• Technological Advancements: Innovations in automation, robotics, and sensor technologies are transforming material handling equipment, enabling enhanced safety, efficiency, and real-time data analytics.
• Expanding Warehousing and Distribution Needs: The rise of e-commerce and omnichannel retailing has led to a surge in warehousing and distribution space, necessitating efficient and scalable material handling solutions.

Challenges and Restraints in the Material Handling Equipment Market

• Integration challenges with existing systems
• High initial investment and maintenance costs
• Skills gap in operating and maintaining advanced equipment
• Limited ability to handle hazardous materials
• Space constraints in warehouses and distribution centers

Emerging Trends in Material Handling Equipment

• Integration of artificial intelligence (AI) and machine learning (ML)
• Development of autonomous forklifts and mobile robots
• Advanced safety features and real-time tracking systems
• Energy-efficient and environmentally friendly designs
• Customization and tailored solutions for specific industries

Growth Catalysts in Material Handling Equipment Industry

• Government initiatives promoting automation and Industry 4.0 adoption
• Heightened focus on safety, efficiency, and ergonomics in warehouses and distribution centers
• Rapid growth of smart warehouses, automated storage and retrieval systems (AS/RS), and intelligent logistics hubs
• Surging e-commerce and online shopping demand, leading to increased material handling requirements
• Adoption of advanced technologies, including cloud-based software solutions for real-time inventory management and data analytics

Market Segmentation: Material Handling Equipment Analysis

Equipment Type

• Transport Equipment
• Handling Equipment
• Racking & Storage Equipment
• Others

Industry

• Consumer Goods & Electronics
• Automotive
• Food & Beverages
• Pharmaceutical
• Construction
• Mining
• Semiconductors
• Others

Leading Players in the Material Handling Equipment Market

• Daifuku Co., Ltd. (Japan)
• Liebherr Group (Switzerland)
• Schaefer System International Ltd. (Germany)
• Toyota Industries Corporation (Japan)
• Beumer Group (Germany)
• Jungheinrich AG (Germany)
• Godrej Group (India)
• Kion Group AG (Germany)
• Action Construction Equipment Ltd. (India)
• Hyster-Yale Materials Handling, Inc. (U.S.)
• Swisslog Holding AG (Germany)
• Crown Equipment Corporation (U.S.)
• Mitsubishi Logisnext Co., Ltd. (Japan)
• KUKA AG (Germany)

Significant Developments in the Material Handling Equipment Sector

• April 2023 – Crown Equipment Corporation, a global manufacturer and supplier of material handling equipment has launched its newly developed SP1500 high-level order pickers with pioneering features such as an ergonomically developed operator compartment with customizable controls for quicker and safer order picking.
• March 2023 – KION Group, a leader in the material handling equipment sector has made a strategic alliance with Li-Cycle, a lithium-ion resource leader to strengthen their battery recycling and sustainability offerings position in the industry.
• January 2023 – Crown Equipment Corporation, expanded its product portfolio with Internal combustion and Electric counterbalance forklifts that can offer a carrying capacity of up to 5.5 tons.
• September 2022 – Toyota Industries Corporation’s division Toyota Material Handling Japan (TMHJ) has developed an autonomous AI lift truck that locates, positions trucks, loads and generates an automated route for loading operations.
• August 2022 – SSI Schaefer, a leader in the intralogistics sector has launched its SSI Mobile robots and shelving systems improving intralogistics operations speeding up logistic processes and reducing costs offering partial automation options to the intralogistics sector.

Comprehensive Coverage Material Handling Equipment Market Report

This comprehensive report offers a detailed analysis of the global material handling equipment market. It provides an in-depth market overview, including market size, growth projections, segmentation by product type, industry, and region. The report also examines market trends, competitive dynamics, and emerging opportunities. Key growth catalysts, industry challenges, and recent technological advancements are thoroughly discussed. Furthermore, the report includes company profiles of major market players, case studies, and in-depth analysis of industry news and developments.

Regional Insight

The global material handling equipment market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific is the largest market, followed by Europe and North America. The growing manufacturing and industrial sectors in emerging economies, such as China and India, are driving the growth in the Asia-Pacific region.