Increasing Investments in the Infrastructural and Construction Industry Drive the Demand for Material Handling Equipment Market

Data Bridge Market Research analyzes that the Asia-Pacific material handling equipment market is expected to grow at a CAGR of 7.9% in the forecast period of 2023 to 2030 and is expected to reach EUR 36,920.17 million by 2030. The port solution segment is projected to propel the market growth due to its wide applications in consumer electronics due to its wide applications in consumer electronics. 

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Asia-Pacific Material Handling Equipment Market refers to the industry that produces and supplies equipment and systems used for the movement, storage, control, and protection of materials, goods, and products in the Asia-Pacific region. This includes a wide range of products such as conveyors, cranes, forklifts, hoists, pallet trucks, automated guided vehicles, and storage systems. The market serves various industries such as manufacturing, logistics, automotive, pharmaceuticals, food and beverage, and retail, among others. The growth of e-commerce, automation, and the adoption of advanced technologies like IoT and AI are some of the major drivers of the material handling equipment market in the Asia-Pacific region.

INCREASING INVESTMENTS IN THE INFRASTRUCTURAL AND CONSTRUCTION INDUSTRY

Infrastructural and construction activities are one of the most important functions for the economy of every country. Infrastructural activities include highways and road constructions, bridges, dams, buildings, power generation plants, waste management, transportation and telecommunications related constructions, among others, which is witnessed to be evolved constantly. Thus, it generates the requirement for different types of heavy equipment and machinery equipment such as bridge/overhead cranes, jib cranes, mobile cranes, and Building Maintenance Units (BMU) for material handling.

Report Scope and Market Segmentation

Segment Analysis

The Asia-Pacific material handling equipment market is segmented into six notable segments based on type, components, capacity, voltage, product, and end-use.

• On the basis of component, the Asia-Pacific material handling equipment market has been segmented into LLE (light lifting equipment), CTO (configured-to-order cranes), ETO (engineered-to-order cranes), lift trucks above 10 Tons, port solutions, and Service (ETO, LLE, CTO). In 2023, the port solution segment is expected to dominate the Asia-Pacific material handling equipment market with a 42.57% market share due to Port solutions refer to the systems, services, and equipment that are related to ports or harbors. The market is being driven by the increasing usage of industry 4.0 to improve port efficiency. However, the large initial investment required for port development stifles market expansion

Major Players

Data Bridge Market Research recognizes the following companies as the major diesel bus market players in the Asia-Pacific material handling equipment market, which are Alimak Group AB, Acme International Holdings Limited, XSPlatforms, GEDA Original, ROSTEK OY, IHI Corporation, PARI, wohr Parking Systems Pvt. Ltd., Mutrade Industrial Corp., GG LIFTERS TECH, DAYANG PARKING CO., LTD., RR Parkon, Eilbeck Cranes, Weihua Group, ABUS Kransysteme GmbH, Mazzella Companies, Sumitomo Heavy Industries, Ltd., ASSA ABLOY, RITE-HITE, Hörmann Group, Blue Giant, Maini Materials Movement Pvt. Ltd., Reva Industries India Pvt. Ltd., LOADMATE, ELECTROMECH MATERIAL HANDLING SYSTEMS (INDIA) PVT. LTD., STAHL Crane Systems GmbH, MITSUBISHI LOGISNEXT CO., LTD., Doosan Industrial Vehicle, TOYOTA INDUSTRIES CORPORATION, Crown Equipment Corporation, Jungheinrich AG, GORBEL INC., GH CRANES & COMPONENTS, Zoomlion Heavy Industry Science& Technology Co., Ltd., The Manitowoc Company Inc., Shanghai Zhenhua Heavy Industries Co., Ltd. (ZPMC), MPH Cranes (Far-East) Pte Ltd, Konecranes, LIEBHERR, ZPMC, SANY Group, COMBILIFT, Hyster-Yale Materials Handling, Inc., Manitou.com, Amsak Cranes Private Limited, and Sam Technology Engineers, among others.

Market Development

• In 2022 January, Zoomlion Heavy Industry Science& Technology Co., Ltd. first collaborative intelligent robotic excavator. This excavator, equipped with a human-machine interaction system, assimilates artificial intelligence, clever control and other progressive technologies, which empowers the excavator to interact with the machinist and perform jobs automatically, identifying both gesture and voice commands to work accurately
• In November 2021, Zoomlion Heavy Industry Science& Technology Co., Ltd. renewed its partnership with the government of Savannah, Ghana. Through this partnership company and Ghana, the government worked on waste management. The company received various deals and contracts from the Ghana government, and also company established integrated recycling and compost plant (IRECOP)
• In August 2021, Zoomlion Heavy Industry Science& Technology Co., Ltd. launched operations of a smart tower crane plant in Central China. This smart factory covers almost 49.33 hectares, and it generates the largest wind tower cranes. This development enhanced the company’s financials and made a superior impact on the growth of the APAC material handling equipment market
• In May 2021, Zoomlion Heavy Industry Science & Technology Co., Ltd. launched the full operation of a new tower crane intelligent manufacturing factory in-charged, Hunan Province of China. This expansion enhanced the company's capabilities and product line and also made a significant impact on the growth of the APAC material handling market
• In May 2021, Third Wave Automation, Inc. ("Third Wave") and Toyota Industries Corporation ("TICO") announced a strategic partnership to produce the next generation of intelligent, fully autonomous material handling vehicles. By integrating intelligent robotics into material handling vehicles, which can be deployed rapidly and evolve dynamically, this strategic partnership between TICO and Third Wave is set to define the industry's agenda for the next generation

Regional Analysis

Asia-Pacific material handling equipment Market is analysed, and market size insights and trends are provided by country, product as referenced above.

The regions covered in the Asia-Pacific material handling equipment market report are China, India, Japan, Malaysia, Singapore, Hong Kong, Vietnam, Australia, Taiwan, Indonesia, Thailand, Philippines, New Zealand, Bangladesh, Myanmar, Cambodia, Laos, and Rest of Asia-Pacific.  

As per Data Bridge Market Research analysis:

China dominates in the Asia-Pacific region in material handling equipment market during the forecast period 2023 -2030

• In 2022, China dominates in the Asia-Pacific region, as China has a robust manufacturing sector and invested heavily in infrastructure development, including ports, airports, highways, and railways. This has increased demand for material handling equipment (MHE) products, which gives a competitive edge in the Asia market, this is expected to act as a driving factor for the growth of the market.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant impact on the material handling equipment (MHE) market. The outbreak of the virus has resulted in a decrease in demand for MHE in some industries while creating a surge in demand in others. For instance, the pandemic has led to a surge in demand for MHE in industries such as healthcare, e-commerce, and logistics.

The pandemic has forced many businesses to alter their operations, leading to changes in the way materials are handled and transported. The market has also witnessed disruptions in the supply chain, resulting in challenges in the production and delivery of MHE. The impact of COVID-19 on the material handling equipment market has been significant, and its effects are likely to be felt for some time to come.

The impact of COVID-19 on the material handling equipment (MHE) market in Asia has had a mixed impact on pricing. The pandemic has led to supply chain disruptions, causing delays and shortages of critical components needed for the production of MHE. This has led to a slowdown in the production and delivery of MHE, resulting in some price increases. However, the pandemic has also led to a decrease in demand for MHE in some industries, such as automotive and construction, which has led to a decrease in prices for some equipment. In addition, the increased competition in the market due to the entry of new players and the expansion of existing players has also put pressure on prices.

Another factor affecting pricing is the shift towards automation and contactless technologies, which require significant investments in new equipment and software. This has led to an increase in prices for some types of material handling equipment, such as autonomous vehicles and robotic systems.

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