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Material Handling Equipment Market Trends

Report ID: GMI1384
Published Date: Jan 2024
Report Format: PDF

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Material Handling Equipment Market Trends

Automation integration is an emerging trend in material handling equipment that involves the increased incorporation of robotics and automated technologies. This transformation aims to boost operational efficiency by minimizing manual intervention, leading to faster and more precise handling of materials. This trend aligns with the industry's pursuit of streamlined processes, increased throughput, and improved overall operational performance, driving a shift toward advanced & technology-driven solutions in the market.

For instance, in September 2023, Mitsubishi Logisnext Americas and Jungheinrich collaboratively introduced Rocrich AGV Solutions, providing mobile automation offerings for warehouses and production facilities. This joint venture leverages advanced technology to offer Automated Guided Vehicles (AGVs) that enhance efficiency, streamline logistics, and optimize material handling processes in a wide range of industrial settings.

IoT connectivity is an emerging trend in material handling operations and involves the wide adoption of IoT technologies. This facilitates real-time monitoring, enabling companies to track equipment performance, usage patterns, and the overall operational efficiency. Predictive maintenance is enhanced through the data collected by IoT, allowing timely identification of potential issues and reducing the downtime. Data-driven decision-making becomes integral as businesses leverage insights derived from connected devices, optimizing material handling processes for improved reliability and cost-effectiveness in the dynamically evolving landscape of the industry.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of material handling equipment reached USD 168 billion in 2023 and is set to observe 5.5% CAGR from 2024 to 2032, owing to the growing e-commerce and logistics sectors.

The manufacturers segment accounted for a market share of around 60% in 2023, as industries undergo technological transformations and seek heightened operational efficiency and automation.

Asia Pacific market accounted for 30% of the revenue share in 2023, due to expanding industrialization, rapid infrastructure development, and increasing e-commerce activities.

Crown Equipment Corporation, Daifuku Co., Ltd., Fives Group, Hyster-Yale Materials Handling, Inc, JBT Corporation, Jungheinrich AG, Kardex AG, KION Group AG, KUKA AG, Liebherr Group, Mitsubishi Caterpillar Forklift America, Inc., Murata Machinery, Ltd., SSI Schaefer Group and System Logistics SPA.