Material Handling Equipment Market

Material Handling Equipment Market Size, Share, Trends, Growth, and Industry Analysis, By Product (Storage & Handling Equipment, Automated Storage & Retrieval System, Industrial Trucks), End-User Sector (Automotive, Food & Beverages, Chemical, Semiconductor & Electronics, E-commerce, Aviation, Pharmaceutical, Others), Regional Insights and Forecast to 2031

Manufacturing & Construction | September 2022 | Report ID: EMR0040 | Pages: 215

global material handling equipment market size was USD 28 billion in 2022 and is predicted to reach USD 50.38 billion in 2031, exhibiting at a CAGR of 8.5% during the forecast period.


The Material handling equipment market includes a variety of tools, vehicles, warehouses, equipment, and accessories involved in the transport, storage, control, calculation, and counting of products at any stage of manufacturing, distribution, use, or disposal. The main objectives of asset management are as follows: It must be able to determine the appropriate distance to be installed. Prepare for waste reduction to improve quality. Reduce the overall performance time by designing the movement of the material.

Growth Factors

The flow of investments for the development of power and battery technology will contribute to market growth. Apart from that, favourable government initiatives worldwide encourage new infrastructure development, resulting in growth prospects in the material handling equipment market over the forecast period (2023–2031). The developing economies, such as India and China, attract foreign investments promoting infrastructure and industrial development; this is expected to drive market growth. Also, the development of public infrastructure, such as rail networks, airports, seaports, and power plants, among others, is estimated to foster market growth.

The development of the Belt and Road Initiative (BRI) by China is anticipated to create lucrative opportunities that will fuel the growth of the materials handling equipment market. This initiative focuses on connecting a network of rail and road routes from China to Europe via the Middle East.  The Material Handling Equipment Market has greatly benefited from the rapid rise of the e-commerce industry. Furthermore, in reaction to the COVID-19 epidemic, the imposition of social distance rules, lockdowns, and other measures has prompted consumers to turn to online shopping, which has helped market growth.

The increase in labor costs and safety concerns has led many industries to choose equipment in order to improve work efficiency and time reduction, and this factor will foster market growth. Also, with the enhancement of technology, there will be a demand for automation and productivity, which will trigger market growth. Furthermore, the increasing requirement for efficient material movement necessitates automated processes, which are expected to fuel market growth.

Material Handling Equipment Market REPORT SCOPE & SEGMENTATION

Report Attribute


Projected Market Value (2031)

50.38 Billion

Estimated Market Value (2022)

28 Billion

Base Year


Forecast Years

2023 - 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Product Type, By End-user, & Region

Segments Covered

By Product Type, By End-user, & Region

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.


Market dynamics:

Market drivers:

The rapid growth of the e-commerce sector across the globe, where consumers are intensively purchasing regular goods, is promoting the overall growth of the material handling equipment industry. For instance, USD 4.46 trillion was spent on online shopping in the year 2022 across the globe. The trend of online shopping continues to increase, which is considered the major market driver of the material handling equipment industry.

The customization of equipment and systems that are integrated with warehouse and supply chain ecosystems is increasing visibility for manufacturers and industrial sectors. In addition, rising labour costs in developed countries are propelling the material handling equipment market forward. 

Market opportunities:

The increasing investment in the material handling equipment industry by the established market key players is bringing about a series of inventions and updates in the material handling equipment industry. Such factors are stimulating the potential end-users to increase their utilization of material handling equipment for their business growth.

Some of the government initiatives are presenting lucrative opportunities for the growth of the material handling equipment industry. Especially, the "One Belt, One Road" (OBOR) initiative by the Chinese government has stimulated the development of the material handling equipment industry.

Market restraints:

The increasing investments in the initial stages and the overall costs of ownership are expected to hinder the material handling market's growth. The procurement, integration, programming, and installation of this material handling equipment are particularly expensive. Moreover, the higher maintenance costs and the slower return on investments are some of the restraining factors for material handling equipment market growth.

Some of the major restraining factors in the material handling equipment industry are the costs of replacing software and customizing software to meet the needs of the company. 

Market challenges:

The life cycle costs of the material handling equipment, such as capital investment, installation, setup, programming, training, system testing, operation, maintenance, repair, and reuse, are the major costs that are hindering the overall growth of the material handling equipment market.

The major challenge for the growth of the material handling equipment market is a lack of awareness about the availability of operating equipment and the various operations that these machines can perform. 

Geographical Analysis

Europe is expected to dominate the market with a revenue share of more than 37.5% in 2022 and is expected to grow significantly over the forecast period. It's due to the employment of innovative products to support the region's large-scale industrialization. Europe has a diverse range of industries, from food and beverage to electronics manufacturing, all of which offer sales opportunities. Furthermore, the e-commerce sector, led by same-day delivery models, has contributed significantly to market growth. For instance, on October 14, 2021, Logstica Carosan, a Spanish storage and transportation company, stated that it has rebuilt its Talavera de la Reina (Spain) facility in order to improve customer service. The company will adopt Mecalux's Easy WMS warehouse management system to streamline all of its logistical procedures. The technology will allow LogsticaCarosan to keep a close eye on its clients’ entire inventory.

North America is also expected to have substantial growth in the material handling equipment market, which is due to the increasing sales across the region due to the e-commerce industry. The increasing growth of durable and non-durable goods is propelling the overall growth of the material handling equipment industry's. Moreover, North America is adopting automated warehouse practises across the region, fueling the overall growth of the material handling equipment sector.

The Asia Pacific region is also expected to grow significantly over the forecast period, with a CAGR of 9.8% in 2022. It is because the developing economies have provided ample opportunities, subsequently helping OEMs reach broader end user markets. Moreover, the rapid growth of the e-commerce industry in this region is anticipated to boost market growth.

Key Companies Profiled

Manufacturers are focusing on adopting various marketing strategies, such as collaboration and mergers and acquisitions with other logistics solution businesses, to attain a considerable position in terms of comprehensive strength. Key players are consistently providing a variety of specialized machines, such as cranes, industrial trucks, and others, and material handling technologies to their end-users across countries in order to deeply penetrate the market. 

  • Liebherr Group
  • KION Group AG
  • Jungheinrich AG
  • Viastore Systems GmbH
  • WITRON Logistik + Informatik GmbH
  • Eisenmann AG
  • Beumer Maschinenfabrik GmbH
  • Jervis B. Webb Company
  • Columbus McKinnon Corporation
  • Crown Equipment Corporation
  • Hyster-Yale Materials Handling
  • Hytrol Conveyor Co., Inc.
  • Manitowoc Company, Inc.
  • Xuzhou Heavy Machinery Co., Ltd.
  • Toyota Industries Corporation

Recent Developments

  • In April 2022, KION Battery Systems GmbH (KBS) will expand its Karlstein production plant, marking the next step in the company's expansion and innovation. The company, a partnership between KION GROUP AG and BMZ Holding GmbH, has now officially launched a second production line for producing 24-volt batteries used in mobile warehouse handling equipment. 
  • In March 2021, Aarekies Brienz AG, situated in Brienz, Switzerland, purchased an industrial truck from Liebherr Group dubbed the "LH 60 M Port Litronic."

Segments covered:

By Product

  • Storage & Handling Equipment
  • Automated Storage & Retrieval System
  • Industrial Trucks

By End-user Sector

  • Automotive
  • Food & Beverages
  • Chemical
  • Semiconductor & Electronics
  • E-commerce
  • Aviation
  • Pharmaceutical
  • Others

By Region

  • North America  (US, Canada, Mexico)
  • Europe  (UK, Germany, France, Rest of Europe)
  • Asia Pacific  (China, India, Japan, Rest of APAC)
  • LAMEA  (Latin America, Middle East, Africa)

Customization Scope

  • Available upon request


  • Available upon request

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The Material Handling Equipment market is expected to exhibit a CAGR of 8.5% by 2031.
The global Material Handling Equipment market is expected to reach USD 50.38 billion by 2031.
Material Handling Equipment market forecast period is 2023 - 2031
By Product (Storage & Handling Equipment, Automated Storage & Retrieval System, Industrial Trucks), End-User Sector (Automotive, Food & Beverages, Chemical, Semiconductor & Electronics, E-commerce, Aviation, Pharmaceutical, Others) are some of the segmentations of the Material Handling Equipment market.
The dominating companies in the Material Handling Equipment market are KION Group AG, Jungheinrich AG, Viastore Systems GmbH, WITRON Logistik + Informatik GmbH, Eisenmann AG, Beumer Maschinenfabrik GmbH, Jervis B. Webb Company, Columbus McKinnon Corporation, Crown Equipment Corporation, Hyster-Yale Materials Handling, Hytrol Conveyor Co., Inc

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