Material handling equipment plays a vital role in facilitating the efficient movement, storage, and control of products and materials across various stages of the supply chain. These machines enable the swift handling of heavy loads and large volumes of goods, reducing the reliance on manual labor through automation. Common types of material handling equipment include LLE, CTO, PNC, lift trucks, and port solutions. Divided into positioning, transport, unit load formation, and storage categories, these equipment are extensively used in manufacturing, packaging, shipping, and distribution industries. Among them, sortation conveyor systems are highly effective in maintaining proper order and arrangement of items and materials.
According to Data Bridge Market Research, the Material Handling Equipment Market is expected to reach USD EUR 35,931.80 by 2030. The market is expected to grow with a CAGR of 7.9% in the forecast period of 2023 to 2030.
“Increasing investments in the infrastructural and construction industry”
Infrastructural and construction activities play a crucial role in the economy of every nation, encompassing a wide range of projects such as highways, bridges, dams, buildings, power plants, waste management systems, transportation networks, and telecommunications infrastructure. These activities are constantly evolving, driving the demand for various types of heavy equipment and machinery, including bridge/overhead cranes, industrial cranes, jib cranes, mobile cranes, and building maintenance units (BMUs), to facilitate efficient material handling and construction operations.
What restraints the growth of material handling equipment market?
“Lack of skilled workforce”
The shortage of skilled workforce, particularly in crane and rigging operations, poses a growing concern as various industries strive to recover. This shortage not only impacts project costs and delays schedules for companies but also increases the risk of accidents and injuries to laborers due to improper handling of cranes and material handling equipment. According to recent statistics from the Bureau of Labor, global crane accidents result in an estimated 44 fatalities and 175 injuries annually. Consequently, the significance of well-trained crane operators cannot be overstated for companies.
Segmentation: Asia-Pacific Material Handling Equipment Market
The material handling equipment market is segmented on the basis of product.
- On the basis of product, into the material handling equipment market is segmented port solution and services.
Regional Insights: China Dominates the Material Handling Equipment Market
China dominates in the Asia-Pacific region, as China has a robust manufacturing sector and has 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.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/asia-pacific-material-handling-equipment-market
Recent Developments
- In February, Manitou Group and Kiloutou entered an exclusive partnership agreement for their first retrofit project, partnership agreement provides telehandlers with used internal combustion engines from Manitou that have electrification kits. These devices can be retrofitted to last longer while having a smaller negative impact on the environment, especially in terms of carbon emissions
- In September 2022, Combilift was awarded Manufacturing Exporter of the Year at the 20th edition of the Irish Export Industry Awards. The honor is given to exporting businesses that have thrived in the manufacturing sector in spite of extremely challenging and unusual market conditions
The Prominent Key Players Operating in the Material Handling Equipment Market Include:
- TOYOTA INDUSTRIES CORPORATION (Japan)
- Zoomlion Heavy Industry Science&Technology Co., Ltd. (China)
- IHI Corporation (Japan)
- Doosan Industrial Vehicle (South Korea)
- Shanghai Zhenhua Heavy Industries (China)
- SANY Group (China)
- MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan)
- Weihua Group (China)
- Manitou.com (France)
- Komatsu Ltd. (Japan)
- Liebherr (Switzerland)
- Sumitomo Heavy Industries Material Handling Systems Co., Ltd. (Japan)
- Konecranes (Finland)
- The Manitowoc Company, Inc. (U.S.)
- Linde plc (U.K.)
- Hyster-Yale Materials Handling, Inc. (U.S.)
- STAHL CraneSystems GmbH (Germany)
- Mazzella Companies (U.S.)
- ElectroMech Material Handling Systems (India) Pvt. Ltd. (India)
- LOADMATE (India)
- COMBILIFT (Ireland)
- GORBEL INC. (U.S.)
- REVA INDUSTRIES LTD. (India)
- GH CRANES & COMPONENTS (Spain)
- Eilbeck Cranes (Australia)
- Paree Crane India Private Limited (India)
- MPH Cranes (Far-East) Pte Ltd. (Singapore)
- ABUS Kransystem AB (Sweden)
- SAM Technology Engineers (Australia)
- Amsak Cranes Private Limited (India)
Above are the key players covered in the report, to know about more and exhaustive list of material handling equipment market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Asia-Pacific Material Handling Equipment Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, North America vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
