Material Handling Machinery Market Highlights

• Global material handling machinery market revenue is poised to garner USD 393.2 billion by 2032 with a CAGR of 5.8% from 2023 to 2032
• Asia-Pacific material handling machinery market value occupied almost USD 79 billion in 2022
• North America material handling machinery market growth will record a CAGR of over 6% from 2023 to 2032
• Among product, the cranes and lifting material handling equipment sub-segment generated over US$ 81.2 billion revenue in 2022 
• Based on end-use industry, the e-commerce sub-segment generated around 25% share in 2022
• Technological advancements in material handling is a popular material handling machinery market trend that fuels the industry demand

Mechanical systems that are used for storage, control, and protection of goods in the process of industrial manufacturing are termed material handling machinery. Positioning equipment, transport equipment, storage equipment, and unit load formation equipment are the major four categories of material handling machines. Material handling machinery helps in cost cutting, improves quality at the workplace, and aims at reducing waste generation. This material-handling machinery operates in an intricate environment without any human labor.

Global Material Handling Machinery Market Dynamics

Market Drivers

• Increasing demand from end-use industries
• Emphasis on workplace safety
• Government initiatives and sustainable practices

Market Restraints

• High initial investment
• Dependence on economic cycles
• Lack of skilled workforce

Market Opportunities

• Rising adoption of automation and robotics
• Surging Industry 4.0
• Rapidly growing e-commerce

Material Handling Machinery Market Report Coverage

Material Handling Machinery Market Insights

Increasing demand for automated solutions in several industries and an upsurge in the e-commerce industry are the major driving factors for the growth of the material handling machinery market. Moreover, the growing focus on labor safety is also one of the factors augmenting the growth of material-handling machinery. However, increased equipment and maintenance cost is the major restraining factors for the market. Also, the increase in steel prices and lack of skilled labor hampers the market growth for material handling machinery. Nevertheless, the increasing demand for the personalized automated guided vehicle (AGVs) provides major growth opportunities for manufacturers of material handling machinery.

Material Handling Machinery Market, By Segmentation

The worldwide market for material handling machinery is split based on product, end-use industry, and geography.

Material Handling Machinery Products

• Cranes & Lifting Equipment
• Industrial Trucks
• Continuous Handling Equipment
• Racking & Storage Equipment

According to a material handling machinery market analysis, cranes and lifting equipment is one of the leading product types in the material handling machinery market. The growth of the construction and manufacturing industries, coupled with increasing demand for efficient material handling and logistics operations, has driven the demand for cranes and lifting equipment. The use of cranes and lifting equipment in various applications such as shipping, transportation, and warehousing has also contributed to their popularity and widespread use in the industry.

However, historically, forklifts and other industrial trucks have been among the most widely used and sold material handling equipment worldwide. Continuou handling equipment, as well as racking and storage equipment, are also significant product categories in the material handling equipment market.

Material Handling Machinery End-Use Industries

• Automotive
• Food & Beverages
• Chemical
• Semiconductor & Electronics
• E-commerce
• Aviation
• Pharmaceutical
• Others

According to the material handling machinery market forecast, one of the major end-use industries in the material handling machinery market is e-commerce. The rise of e-commerce has increased demand for material handling equipment, particularly in order fulfilment, distribution, and warehousing. To manage their large volumes of orders, e-commerce companies require efficient and automated material handling systems, which has led to an increase in the use of technological advances such as conveyor systems, automated storage and retrieval systems (ASRS), and robotics in e-commerce facilities. As the popularity of e-commerce grows, so will the demand for material handling equipment.

Material Handling Machinery Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Material Handling Machinery Market Regional Analysis

The North American material handling machinery market is expected to grow steadily, owing to the presence of established end-use industries such as automotive, e-commerce, and healthcare. The region also has several key market players, which is expected to contribute to market growth.

Because of the presence of major manufacturing and automotive industries, Europe is one of the largest markets for material handling equipment. The expansion of the region's e-commerce and logistics sectors has also contributed to market growth.

The Asia-Pacific material handling machinery market is expected to expand significantly, owing to the expansion of the manufacturing and e-commerce industries in countries such as China and India. The region also has several key market players, which is anticipated to add to market growth.

Material Handling Machinery Market Players

Some of the top material handling machinery companies offered in the professional report include Toyota Industries Corporation, KION Group AG, Jungheinrich AG, Hyster-Yale Materials Handling, Inc., Crown Equipment Corporation, Mitsubishi Nichiyu Forklift Co., Ltd., Anhui Heli Co., Ltd., Hangcha Group Co., Ltd., Hyundai Construction Equipment Co., Ltd., and Doosan Corporation Industrial Vehicle.