According to the research report titled ‘Material Handling Equipment Market Share, Size, Trends, & Industry Analysis Report, By Type; By Application; By End-User; & By Regions Segment Forecast, 2018 – 2026’, available with Market Study Report, global material handling equipment market is expected to register a y-o-y growth rate of 6.6% during 2018-2026, subsequently accounting for USD 46.2 billion by the end of the forecast duration.
 

Rapid expansion of the manufacturing sector, growing demand for efficient warehouse operations, and collective inclination towards automating production processes are some of the key factors driving the growth of global material handling equipment market.
 

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Proliferating automotive vertical along with reducing availability and high costs of labor are also augmenting the demand for material handling equipment across the globe. Booming food & beverage, electronics, pharmaceutical, and chemical industries are stimulating the overall industry outlook.
 

Although high investment cost could potentially hamper the product demand, factors such as technological breakthroughs in this business domain and growing demand from developing nations are contributing towards global material handling equipment industry dynamics.
 

As per type, the market is segmented into bulk material handling equipment, industrial trucks, and storage & handling equipment. Among these, the report states that the industrial trucks segment accounted for the largest share in global material handling equipment industry in 2018 and is expected to register consistent growth throughout the forecast timeframe.
 

The application scope of the overall market consists of transportation, packaging, storage, and assembly segments. Citing the end-user landscape, the market is divided into aviation, pharmaceutical, chemical, electronics, and automotive segments.
 

Regionally speaking, Europe captured the largest share in worldwide material handling equipment industry in terms of revenue in the year 2018. Rising automation of manufacturing sector, high concentration of leading automakers, strict regulatory outlook towards worker safety, and focus towards improving productivity and efficiency are favoring the regional market outlook.
 

On the other hand, Asia-Pacific market is likely to experience a robust CAGR through 2026.
 

The prominent companies operating in global material handling equipment market are Dematic GmbH, Toyota Industries Corporation, Columbus McKinnon Corporation, Bastian Solutions LLC, Crown Equipment Corporation, Daifuku Co. Ltd., Clark Material Handling Co., Intelligrated Systems Inc., Beumer Group GmbH & Co. KG, Kion Group AG, Swisslog AG, and KUKA AG among others.