Global Material Handling Equipment Market: Overview
Material handling equipment is a tool or a combination of tools used facilitate the movement, protection, storage, and retrieval and control of materials and products. This equipment is used to manage the storage and movement of good and products in warehouses or manufacturing plants. Material handling equipment tends to increase productivity by improving logistics in manufacturing plants. It is required in warehouses or manufacturing plants for quick movement of goods or products, locating stock, preparing orders, and localizing stock. Increase in need for optimum utilization of floor space, efficient and smooth in and outflow of material, streamlined plant layouts, efficient supply chain, and minimization of downtime at manufacturing plants are the key trends driving the material handling equipment market. Moreover, a shift toward automation in material handling equipment is likely to propel the market.
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Emphasis on automation, safety, and productivity is increasing in the global material handling equipment market. Companies are focusing on innovating equipment based on these three factors and as per customer requirements. In the future, high control methodologies are expected to be used in the material handling equipment market. Integration of electronic intelligence with material handling equipment is expected to change the outlook for the global material handling equipment market over the forecast period.
Material handling equipment is available in a wide variety of configuration and types such as conveying equipment, bucket conveyor, screw conveyer, vibrating conveyer, roller conveyer, magnetic belt conveyer, chain conveyer, platform truck, walkie stacker, pallet jack, platform truck, etc. Based on type, the global material handling market can be categorized into storage and handling equipment, engineered systems, industrial trucks, and bulk material handling equipment. Storage and handling equipment includes racks such as pallet trucks, push-back racks, and sliding trucks; stacking frames, shelves, bins & drawers, etc. Engineered systems on the other hand are typically automated material handling equipment such as AS/RS, conveyor systems, robotic delivery system, and automated guided vehicles. Industrial trucks such as forklift, hand trucks, pallet trucks, walkie stackers, side loader, etc. are used to handle large materials or containers around the manufacturing floor. Bulk material handling equipment includes conveyor belts, stackers, reclaimers, and bucket & grain elevators.
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Global Material Handling Equipment Market: Regional Outlook
The material handling equipment market in Asia Pacific is expected to expand at a rapid pace. Material handling equipment such as electric lift trucks is expected to see gains in the North America, as end-users look forward to reduce downtime and ensure an efficient supply chain. Expansion in e-commerce is anticipated to stimulate demand for material handling equipment, as business is increasingly conducted in energy-efficient warehouses in developing countries such as China and India. Furthermore, the market share of India and China is expected to witness significant rise in near future, due to rise in manufacturing output, which is augmenting demand for the same.
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