Material Handling Equipment Market Driven by Rapid Growth of E-Commerce Industry
The material handling equipment market overview comprises technologies and equipment that aid in the automated and efficient handling of materials within facilities and warehouses. Material handling equipment includes conveyor systems, automated storage and retrieval systems (AS/RS), automated guided vehicles (AGVs), cranes, robotic arms, electro-mechanical actuators, and industrial robots among others. Goods can be stocked, retrieved and moved from one destination to another with higher speed and accuracy using such equipment.
Material Handling Equipment Market Trends offers benefits like increased productivity, minimized manual labor, enhanced safety standards, lesser defects, and optimized inventory management. The need for improved warehouse automation has grown significantly in response to the rapid growth of e-commerce, just-in-time manufacturing, and lean logistics.
Material handling equipment market is estimated to be valued at USD 228.33 Bn in 2024 and is expected to reach USD 344.23 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6% from 2024 to 2031.
Key Takeaways
Key players operating in the material handling equipment are BEUMER GROUP, Daifuku Co., Ltd., Honeywell International, Inc., KION GROUP AG, Mecalux, S.A., Murata Manufacturing Co., Ltd., SSI SCHAEFER, Swisslog Holding AG, TOYOTA INDUSTRIES CORPORATION, Vanderlande Industries B.V. BEUMER GROUP and Daifuku Co. Ltd. hold major market shares owing to their diversified product portfolio and global presence.
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