According to the recent study the material handling equipment market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 5% to 7% from 2023 to 2028. Growth in this market is primarily driven by improving investments in the construction & industrial sector and favorable government initiatives worldwide encourage new infrastructure development.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in material handling equipment market by product (storage and handling equipment, automated storage and retrieval system, industrial trucks, bulk material handling equipment, and others), application (automotive, food & beverages, chemical, semiconductor & electronics, e-commerce, aviation, pharmaceutical, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Industrial trucks market is expected to remain the largest segment during the forecast period.”
Based on product, the material handling equipment market is segmented into storage and handling equipment, automated storage and retrieval system, industrial trucks, bulk material handling equipment, and others. Lucintel forecasts that the industrial trucks market is expected to remain the largest segment due to their wide area of application in an industrial setting. Additionally, these trucks are used to transport huge containers or boxes in a variety of end-use markets.
“Within the material handling equipment market, the E-commerce segment is expected to remain the largest application”
Based on application the E-commerce segment is expected to witness the highest growth over the forecast period due to increased penetration of the online shopping platforms, the existence of large online merchants, and rising logistics infrastructure.
“Asia pacific will dominate the material handling equipment market in near future”
APAC will remain the fastest growing region due to rising disposable income levels and increased spending on infrastructure & supply chains.
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Major players of material handling equipment market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Toyota Industries, KION GROUP, Jugheinrich, Daifuku, Swisslog Holding, SSI Schaefer Group, Crown Equipment, Honeywell International, and Beumer Group are among the major material handling equipment providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/material-handling-equipment-market.aspx or [email protected]