The material handling equipment market share will post an incremental growth of USD 10.84 billion, decelerating at a CAGR of 6.37% during the forecast period. The increase in construction activities will offer immense growth opportunities to market vendors. The material handling equipment market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Material Handling Equipment Market by Type and Geography - Forecast and Analysis 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The material handling equipment market is segmented by type (cranes & lifting equipment, industrial trucks, continuous handling equipment, and racking & storage equipment) and geography (Europe, APAC, North America, Middle East and Africa, and South America).
The growth of the material handling equipment market size in the cranes and lifting equipment segment will be significant during the forecast period. The increasing investments in infrastructural development by the government and private sectors will facilitate the material handling equipment market growth in Europe. 33% of the market's growth will originate from Europe during the forecast period. Germany and France are the key markets for the material handling equipment market in Europe.
The increase in construction activities will directly influence the sales of material handling equipment. In addition, technological advances are one of the major material handling equipment market trends that will positively impact the market growth. However, issues related to data security will hamper the material handling equipment market growth.
The market is fragmented due to the presence of several players. Some of the major material handling equipment market vendors are Beumer Group GmbH and Co. KG, Coesia SpA, Columbus McKinnon Corp., Crown Equipment Corp., Daifuku Co. Ltd., Fritz SCHAFER GmbH and Co KG, Honeywell International Inc., Hyster Yale Materials Handling Inc., Hytrol Conveyor Co., Interroll Holding AG, Jungheinrich AG, KION GROUP AG, Liebherr-International AG, Mitsubishi Heavy Industries Ltd., Murata Machinery Ltd., Swisslog Holding AG, Toyota Motor Corp., and viastore SYSTEMS GmbH.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the material handling equipment market forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the material handling equipment market share.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the material handling equipment market.
Material handling equipment industry growth across Europe, APAC, North America, Middle East and Africa, and South America.