According to a report,"Material Handling Equipment Market Analysis By Product (Storage & Handling Equipment, Automated Storage & Retrieval System, Industrial Trucks, Bulk Material Handling Equipment), By Region, And Segment Forecasts, 2018 - 2025", published by Grand View Research, Inc., the global material handling equipment market is expected to reach USD 41.1 billion by 2025. The rise in manufacturing activities in the automotive, pharmaceutical, chemical, and food & beverage industries is projected to spur demand. The growing concerns for workplace safety are expected to remain a key driver.
Key Takeaways from the report:
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Automated storage & retrieval systems segment captured over 25% of the total revenue in 2015 and is projected to exhibit a significant growth at a CAGR of over 6.9% from 2016 to 2025. This growth is attributed to the surging espousal of automated equipment in warehouses and manufacturing centers
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On account of the wide scope of applications, these products aid in moving, protecting, and storing goods in warehouses. The e-commerce segment is expected to gain prominence over the forecast period with an estimated CAGR exceeding 10.0%.
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Asia Pacific emerged as the fastest growing market and is expected to witness a healthy CAGR of over 7%, which is primarily due to the rising manufacturing activities in the developing countries of this region
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The key purveyors in this industry comprise Daifuku,SSI Schaefer,BEUMER Group, Kion Group (Dematic), and Swisslog AG.
China material handling equipment market by product, 2014 - 2025 (USD Billion)
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Global material handling equipment revenue share by end use, 2015
The global material handling equipment market is anticipated to witness a high growth over the forecast period. This is accredited to the use of technologically advanced products, such as hydraulic components which are incorporated into this equipment. Furthermore, the integration of telematics solutions & tracking sensors into these products is expected to gain traction in the near future, thereby fueling the equipment sales. The rising espousal of automated storage and retrieval systems is expected to further catapult the equipment market growth over the next nine years.
Grand View Research has segmented the global material handling equipment market on the basis of product, end-use, and region:
Material Handling Equipment Product Outlook (Revenue, USD Billion; 2014 - 2025)
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Storage & handling equipment
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Automated storage & retrieval system
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Industrial trucks
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Bulk material handling equipment
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Others
Material Handling Equipment End-Use Outlook (Revenue, USD Billion; 2014 - 2025)
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Automotive
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Food & beverages
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Chemical
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Semiconductor & electronics
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E-commerce
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Aviation
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Pharmaceutical
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Others
Material Handling Equipment Regional Outlook (Revenue, USD Billion; 2014 - 2025)
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North America
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U.S.
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Canada
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Europe
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UK
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Germany
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France
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Asia Pacific
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China
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India
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Japan
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Latin America
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Brazil
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Mexico
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Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com
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