Material Handling Equipment Market, Forecast 2024-2032
The Material Handling Equipment Market size was valued at USD 216.6 USD billion in 2023 and is projected to reach USD 325.69 USD billion by 2032, exhibiting a CAGR of 6.0 % during the forecast period.MHE (material handling equipment) includes various devices and machines which are specially designed to move, store and transport materials within the industrial and manufacturing environments. Using different types of equipment designed for various aims, such as conveyors, forklifts, cranes, and automatic guided vehicles (AGVs), this crucial equipment plays a pivotal role. Every type of mobile heavy equipment has particular attributes that facilitate high productivity and safe operation. For example, conveyors enable smooth materials handling, and in turn, forklifts provide flexibility in handling and movement of large loads. Cranes are better at load handling and positioning, whereas AGVs are automatic machines that drive by themselves based on smart paths, which leads to high productivity and labour reduction. The industrial application scope of MHE covers modern technologies, including those applicable to manufacturing, logistics, construction, and retail. The MHE is helpful when it comes to the streamlining of material handling processes and through this, operational efficiency is enhanced, manual labour is reduced, errors are minimized and most importantly; workplace safety is improved.
Equipment Type
Industry
This comprehensive report provides an in-depth analysis of the global material handling equipment market. It encompasses market size and forecast, comprehensive market segmentation, industry trends, competitive landscape, and key growth catalysts. The report also covers significant developments, industry news, and case studies to provide a holistic view of the market.
The global material handling equipment market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific is the largest market, followed by Europe and North America. The growing manufacturing and industrial sectors in emerging economies, such as China and India, are driving the growth in the Asia-Pacific region.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 6.0% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 6.0% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
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