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More than 50.0 percent of industry owners expect new projects to be delayed or halted as a result of the coronavirus epidemic. In contrast, over 30.0 percent of owners anticipate to modify sales income based on ongoing projects. The numbers presented do not bode well for market development unless OEMs aim to shift digitally. Power and battery technology investments are expected to boost market expansion. Aside from the uncertainties caused by the coronavirus pandemic, good government policies around the world support new infrastructure construction, resulting in growth possibilities for the material handling equipment market over the forecast period. Economies such as India, China, and Southeast Asia are attracting international investment, supporting infrastructure and industrial development, and so creating new chances for growth.
Material Handling Equipment Market Report Scope and Research Methodology
The study vividly depicts a Material Handling Equipment Market structure, including current market trends and predictions to find prospective investment opportunities. It includes a variety of market-influencing aspects such as historical data, recent technical advancements, the competitive landscape, and government policy. The Material Handling Equipment Market research informs clients on significant drivers, restraints, challenges, and opportunities. The market has been segmented into three major parts for ease of comprehension, and these major segments of the Material Handling Equipment Markets have been further divided into several sub-segments. The research also includes a segment-by-segment analysis of the variables impacting market growth, as well as a competitive analysis of prominent market competitors based on their expansion strategies, product, investments, price, and presence in the Material Handling Equipment sector.
The data acquired for the Material Handling Equipment Market study utilising these methodologies was pooled to draw reliable and error-free inferences. Interviews with subject-matter experts, Material Handling Equipment industry participants, high-level executives of key market companies, industry consultants, and other experts were conducted as part of the primary research. The PESTLE analysis in the market study supports the development of company strategies. The Material Handling Equipment Market's strengths and weaknesses were determined using a SWOT analysis.
Material Handling Equipment Market Overview:
The research looks at market growth drivers and obstacles, as well as corporate strategies, procedures, and a complete financial strategy. Customer expectations are met by customization and thorough information about Material Handling Equipment Market industry possibilities. The Material Handling Equipment market research looks at the industry's competitive landscape and key players. This Material Handling Equipment Market study aids in structure planning in light of modern industrial conditions.
Material Handling Equipment Market Size was valued nearly US$ 32.46 Bn. in 2022. Material Handling Equipment Market size is estimated to grow at a CAGR of 7% & is expected to reach at US$ 52.12 Bn. by 2029.
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Material Handling Equipment Market Dynamics:
The industrial trucks segment dominated the material handling equipment market in 2020, accounting for more than 30.0 percent of total revenue, and is predicted to grow gradually during the forecast period. These trucks are a popular choice in an industrial context due to their vast range of uses. Industrial trucks are employed in a number of end-use markets to transport large containers or boxes, resulting in a larger market share. Demand for battery-powered trucks will increase throughout the forecast period as logistics organisations attempt to embrace sustainable products. Despite the COVID-19 pandemic stifling sales in 2020, the market is predicted to approach pre-COVID levels by 2022, with a CAGR of more than 7.0 percent over the next seven years.
Material Handling Equipment Market Segmentation:
E-commerce led the material handling equipment market in 2020, accounting for 23.2% of total sales. During the lockdown restrictions, there was an unexpected requirement for distribution and delivery of critical supplies, particularly groceries, which increased market growth. The coronavirus's impact will not be a one-time boost; rather, it will have a long-term impact on industrial demand, providing opportunities for material handling equipment vendors. The demand for material handling equipment in the e-commerce sector is estimated to exceed USD 10.0 billion by 2027.
Aside from the pandemic, the retail industry has always showed tremendous development potential, which is likely to continue in the long run. Because of the convenience of online purchasing, companies have built micro-fulfillment centres to assist speedy product deliveries, increasing the demand for material handling equipment.
In 2020, the automotive category, followed by the e-commerce sector, accounted for a significant revenue share in the material handling equipment market. The segment is estimated to be worth more than USD 5.0 billion by 2027. Automakers like AGVs, or automated guided vehicles, because of the autonomy they provide when executing daily operations.
Material Handling Equipment Market Regional Insights:
The Material Handling Equipment the market is divided into five regions: Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. The paper estimates revenue growth in USD terms at the regional and country levels from 2021 through 2029. The study includes a regional analysis with the Material Handling Equipment market size of each area. The countries section of the study looks at a number of market components that are projected to influence present and future Material Handling Equipment market trends, as well as changes in market rules at the country level. Consumption, production location and amount, import/export analysis, pricing analysis, raw material prices, and upstream and downstream value chain analysis are some of the major components utilised to forecast each country's Material Handling Equipment Market conditions.
Material Handling Equipment Market Key Players:
BEUMER Group
Daifuku Co., Ltd.
Honeywell International Inc.
Kion Group AG
Mecalux, S.A
Murata Machinery Ltd.
SSI Schaefer AG
Swisslog Holding AG
Toyota Material Handling Group
Vanderlande Industries B.V
Schaefer Holding International GmbH
Godrej
ACE
Om engineering
Beumer Group GmbH
Kardex AG
viastore systems Inc.
Key Questions answered in the Material Handling Equipment Market Report are:
Key Offerings:
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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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