According to the research report titled ‘Material Handling Equipment Market Size By Product (Storage & Handling Equipment [Racks, Stacking Frames, Shelves, Bins & Drawers, Mezzanines], Industrial Trucks [Automated Guided Vehicles (AGVs), Hand, Platform & Pallet Trucks, Order Pickers, Pallet Jacks, Side-Loaders, Walkie Stackers], Bulk Material Handling Equipment [Conveyor belts, Stackers, Reclaimers, Elevators], Robotics, Automated Storage & Retrieval System (AS/RS) [Unit-Load AS/RS, Mini-Load AS/RS]), By Application (3PL, E-Commerce, Durable Manufacturing, Food & Beverage, General Merchandise, Food Retail), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with MarketStudyReport.com, the global material handling equipment market is expected to cross USD 200 billion by the year 2025.
 

Rising adoption of automation in manufacturing industries, in consort with growing need for enhancing industrial productivity are major factors driving the material handling equipment market. Technological advancements such as IoT in logistics and Big Data analytics, along with rising industrial sector are also aiding the expansion of the market. Moreover, surging need for automated processes in SMEs operating in food retail, food & beverage, and general merchandise sectors is augmenting the demand for material handling equipment across the globe. Increasing deployment of these machines offering high efficiency and reducing labor cost, coupled with favorable reimbursement policies are contributing towards the market growth.
 

In terms of product type, bulk material handling equipment market will grow substantially owing to surging need to transport large volume of material. In addition to this, the equipment offers infrastructure support and efficient delivery solutions. On the other hand, rising demand for AS/RS (Automated Storage & Retrieval System) material handling equipment by manufacturing plants, distribution centers, and warehouses will further augment the market trends.
 

Based on application spectrum, material handling equipment market from general merchandise segment is presumed to grow significantly over the forecast period. These systems are utilized for warehousing and distribution applications which include seasonal/promotional peaks, returns processing, e-commerce order fulfillment, store replenishment, and inventory velocity.
 

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Considering the geographical landscape, Latin America market will hold a substantial share in material handling equipment market during the forecast period. Growing industrial and manufacturing sector, along with rising adoption of technically advanced solutions is driving the regional market. Emerging construction sector is also fueling the demand for performance material handling systems across the region.
 

The prominent companies operating in material handling equipment market are Kion Group AG, Columbus McKinnon, Dematic GmBH & Co., Daifuku Co. Ltd., Intelligrated Inc., Hyster-Yale Materials Handling Inc., KUKA AG, Flexlink, and JBT Corp.