Global Material Handling Technology Market size is predicted to reach $213.4 billion by 2030, growing at a CAGR of 5.7% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Automation in Warehousing and innovations in Internet of Things (IoT) integration, finds IndustryARC in its recent report, titled “Material Handling Technology Market – By Technology (Manual, Semi-Automated, Fully Automated), By Equipment Type (Conveyors & Sortation Systems, Storage & Handling Equipment, Industrial Trucks & Lifts, Automated Guided Vehicles (AGVs) & Robots, Others), By End-User Industry (Manufacturing, Retail & E-commerce, Food & Beverage, Healthcare, Construction, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030”
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APAC to Register Highest Growth:
The APAC region is poised for the fastest growth in the Material Handling Technology Market, driven by several critical factors. Accelerated industrialization and urban development in China, India, and Southeast Asia are fueling the demand for advanced material handling solutions. The surge in e-commerce across the region further emphasizes the need for sophisticated logistics and warehouse automation technologies, including Automated Guided Vehicles (AGVs) and Automated Storage and Retrieval Systems (ASRS). Furthermore, government-backed initiatives to enhance manufacturing and infrastructure are supporting market expansion. The region’s vibrant manufacturing sector and ongoing innovations in robotics and automation technology also play a significant role in driving this growth.
Material Handling Technology Market 2024-2030: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
CAGR |
5.7% |
|
Market Size in 2030 |
$213.4 billion |
|
Segments Covered |
By Technology, By Equipment Type, By End-User and By Region |
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Geographies Covered |
North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East, and Africa). |
|
Key Market Players |
Toyota Industries Corporation KION Group AG Jungheinrich AG Crown Equipment Corporation Hyster-Yale Materials Handling, Inc. Mitsubishi Logisnext Co., Ltd. Caterpillar Inc. Daifuku Co., Ltd. Komatsu Ltd. Liebherr Group |
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Material Handling Technology Market Report – Key Takeaways:
- Dominance of Manual Technology in Material Handling Technology Market
In 2023, the manual technology segment dominated the Material Handling Technology Market with a 38% share, largely due to its straightforwardness, dependability, and cost-efficiency when compared to advanced automated solutions. Manual technologies are particularly advantageous for small and medium-sized enterprises, especially in emerging markets, due to their affordability and ease of use. They provide flexibility, require minimal training, and can be rapidly deployed, making them accessible for a wide range of applications. Furthermore, manual systems are essential for handling delicate or irregular items. Despite the growth of automation, manual technology continues to be indispensable for its practicality and versatility across diverse material handling scenarios.
- Surge in Industrial Trucks and Lifts Demand in Material Handling Technology Market
Industrial trucks and lifts are poised to be the fastest-growing segment in the Material Handling Technology Market, projected to expand at a CAGR of 5.9% from 2024 to 2030. This surge is fueled by the escalating need for efficient intra-logistics across sectors such as manufacturing, e-commerce, and logistics. Innovations in automation and electrification have significantly upgraded these technologies, offering improved safety, productivity, and energy efficiency. The growth in warehouse automation, just-in-time manufacturing, and the increasing volume of e-commerce goods further drive the demand for these adaptable and durable solutions. Consequently, industrial trucks and lifts are emerging as pivotal contributors to market expansion.
- Substantial Growth in Manufacturing in Material Handling Technology Market
The manufacturing sector is set to be the fastest-growing end-use industry in the Material Handling Technology Market, projected to grow at a CAGR of 6.1% from 2024 to 2030. This expansion is propelled by factors such as globalization, heightened consumer demand, and the push for optimized production processes. Advanced material handling technologies are vital for the seamless movement, storage, and management of materials within manufacturing operations. The integration of automation and robotics—such as automated guided vehicles (AGVs), robotic arms, and conveyor systems—enhances productivity and safety while lowering labor costs. As manufacturers increasingly adopt lean and just-in-time methodologies, efficient material handling becomes essential for minimizing waste and maximizing throughput, thus driving robust growth in this segment.
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Key Opportunity Analysis:
Growth in the Pharmaceutical and Healthcare Sectors:
The pharmaceutical and healthcare sectors present promising opportunities for the Material Handling Technology market. The increasing demand for efficient logistics solutions to handle sensitive and high-value products drives the adoption of specialized material handling systems. Technologies such as automated storage and retrieval systems (ASRS), temperature-controlled conveyors, and RFID tracking ensure the safe and efficient handling of pharmaceuticals and medical supplies. The stringent regulatory requirements for traceability and compliance further emphasize the need for advanced solutions. As the healthcare industry expands, material handling technologies play a crucial role in enhancing supply chain efficiency, reducing errors, and ensuring the safe delivery of critical products.
Rise of Circular Economy Practices
The rise of circular economy practices offers a unique opportunity for the Material Handling Technology market. Companies are increasingly focusing on sustainable supply chain strategies that minimize waste and promote resource efficiency. Material handling technologies play a pivotal role in enabling circular practices by facilitating recycling, reverse logistics, and efficient waste management. Advanced sorting and handling systems allow for the seamless integration of recycled materials into production processes. As businesses strive to achieve sustainability goals and meet consumer demands for eco-friendly products, the adoption of material handling technologies aligned with circular economy principles presents a significant opportunity for market growth and innovation.
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The report also covers the following areas:
- Material Handling Technology Market Size and Forecast
- Material Handling Technology Market Trends
- Material Handling Technology Market Analysis by Product Type
Material Handling Technology Market 2024-2030: Key Highlights
- CAGR of the market during the forecast period 2024-2030
- Value Chain Analysis of key stakeholders
- Detailed analysis of market drivers and opportunities during the forecast period
- Material Handling Technology Market size estimation and forecast
- Analysis and predictions on end users’ behavior and upcoming trends
- Competitive landscape and Vendor market analysis including offerings, developments, and financials
- Comprehensive analysis of challenges and constraints in the Material Handling Technology Market
Covid and Ukrainian Crisis Impact:
- The COVID-19 pandemic significantly impacted the material handling technology market by disrupting global supply chains and causing delays in production and delivery. It triggered a surge in e-commerce and online retail, increasing the demand for warehouse automation and material handling solutions to manage higher volumes of goods and ensure efficient order fulfillment. However, it also led to shortages of critical components and slowed manufacturing processes, resulting in higher costs and extended lead times for equipment. The focus on health and safety further accelerated investments in automated solutions to reduce human contact and enhance operational resilience.
- The Russia-Ukraine war has profoundly influenced the material handling technology market by intensifying supply chain disruptions and escalating raw material costs. The conflict has led to shortages of essential components, including steel and semiconductors, which are vital for developing advanced material handling systems. Geopolitical instability has further disrupted trade routes and logistics, straining the supply chain and leading to increased operational costs and delays. As a result, companies are shifting towards more localized and resilient supply chains. This uncertainty has driven investments in innovative and adaptable material handling technologies to better cope with the volatile market environment.
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List of Key Market Players in the Material Handling Technology Market:
The Global Material Handling Technology Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
- Toyota Industries Corporation
- KION Group AG
- Jungheinrich AG
- Crown Equipment Corporation
- Hyster-Yale Materials Handling, Inc.
- Mitsubishi Logisnext Co., Ltd.
- Caterpillar Inc.
- Daifuku Co., Ltd.
- Komatsu Ltd.
- Liebherr Group
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Mr. Venkat Reddy Email: [email protected] USA: (+1) 518-282-4727
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