Material Handling Equipments are the integral part of the supply chain of diverse industries for storage, control and movement of the items, from the raw material to the distribution of finished products. The Global Material Handling Equipment Market is growing with the rapid pace; mainly due to increase in need for automation in industries such as e-commerce, automotive, and food & beverages to reduce operational costs, and improve workplace safety.
According to a recent study report published by the Market Research Future, The global market of material handling equipment is booming and expected to gain prominence over the forecast period. The global material handling equipment market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR of 7.5% during the estimated period (2017 – 2023).
Currently, growing e-commerce sector across the globe is ultimately increases the demand of material handling equipment market. Increasing use of material handling equipment in the construction industry for the applications such as lifting steel, wood, and crates of mortar is also have the positive influence on the growth of the market. However, high initial investment as well as high maintenance cost of material handling equipment’s may hinder the market growth of the market.
Liebherr Group (Switzerland), KION Group AG (Germany), Jungheinrich AG (Germany), Viastore Systems GmbH (Germany), Eisenmann AG (Germany), Columbus McKinnon Corporation (U.S.), Crown Equipment Corporation (U.S.), Hytrol Conveyor Co., Inc. (U.S.), Xuzhou Heavy Machinery Co., Ltd. (China) and Toyota Industries Corporation (Japan) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Material Handling Equipment Market.
Global Material Handling Equipment Market – Competitive Analysis
Global Material Handling Equipment Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, material handling equipment manufacturers strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Caps & Closures for every application.
In July 2017, the company acquired Terex Equipment Private Limited in India, which is a diversified global manufacturer of a broad range of equipment that is focused on delivering reliable, customer-driven solutions for many applications such as the construction, infrastructure and mining.
In August 2017, Briggs Equipment, Cannock-based asset management company has announced the acquisition of Irish Lift Trucks (ILT) part of the OHM Group in the Republic of Ireland. This acquisition allows ILT to grow and expand its offering more quickly than on a standalone basis, providing customers with a broader solution underpinned by Briggs Equipment’s market-leading service levels.
In April 2016, Haulotte Group launch new line of heavy load capacity range telehandlers HTL 5210. This latest addition to the Haulotte range offers the lift capacity of 5.2 tones up to a height of 10 m, representing a maximum forward reach at 3.5 tonnes to 5.8 m with the stabilizer.
In May 2016, Skyjack has recently partnered with a new dealer, Multicrane Perkasa which is a heavy equipment dealer that specializes in providing high quality brands from reputable manufacturers, to provide Skyjack lifts to Indonesia.
Global Material Handling Equipment Market – Segmentation
Global Material Handling Equipment Market is segmented in to three key dynamics for an easy grasp and enhanced understanding.
Based on operation, the market has been segmented into Assembly, Transportation, Packaging, Distribution, and Others.
On the basis of System Type, the market has been segmented into Unit Load Material Handling System, Bulk Load Material Handling System. Unit load dominates the system type of global material handling equipment market. Unit load material handling systems are widely used in automotive, semiconductor and electronics, and aviation among others.
Based on application, the market has been segmented into E-Commerce, Automotive, Food & Beverages, Metal & Heavy Machinery, and Others. E-commerce sector dominates the application segment of the global Material Handling Equipment market and is expected to be the fastest growing application segment.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Global Material Handling Equipment Market – Regional Analysis
Asia-Pacific region is expected to be the fastest growing market for the Material Handling Equipment. Demand of the market in Asia-Pacific region is driven by the factors such as growth in industrialization, and construction & infrastructure activities. In Asia-Pacific region, China, India, Malaysia, and Indonesia are major markets for Material Handling Equipment. Europe is another major market for the Material Handling Equipment and is expected to contribute significantly to during the forecast period.
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