According to the research report titled ‘GLOBAL Material Handling Equipment Market’, available with Market Study Report, global material handling equipment market is projected to register a year-over-year growth rate of 5.3% during the forecast period 2019-2027.
 

Surging demand for technologically advanced equipment, positive economic outlook of developing nations, and rising penetration of automation technologies are spurring global material handling equipment market growth.
 

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Rise of e-commerce sector and large scale investments by government in infrastructure development are projected infuse significant growth in the industry over the projected timeline. On the contrary, high equipment cost and dearth of skilled labor is restricting business progression. Further, excessive diesel consumption by material handling equipment and inflating oil prices are other major restraints for the industry.
 

Based on product type, global material handling equipment industry is fragmented into storage handling equipment, industrial trucks (battery-powered counterbalanced trucks, IC engine-powered counterbalanced trucks, warehousing trucks), automated material handling equipment (AS/RS, AGVS, conveyor systems, palletization, pick systems, sortation systems) and overhead material handling equipment (hoists, overhead traveling cranes and moving systems), and others.
 

Elaborating on the application scope, the industry is split into food & beverage, automotive, chemicals, e-commerce, semiconductor & electronic, pharmaceutical, aviation, and others.
 

Considering the regional outlook, North America, Latin America, Asia Pacific, and Europe are the key contributors to the overall material handling equipment value. Expert analysts cite that Asia Pacific market size is anticipated to expand at a significant pace, creditable to economic growth and flourishing manufacturing sector in economies like India, China, and South Korea.  
 

Prominent players in global material handling equipment market share are Vanderlande Industries B.V., TGW Logistics Group, SSI Schaefer Systems International DWC LLC, Toyota Industries Corp., Kion Group AG, Dematic NV, Jungheinrich AG, Hyster-Yale Materials Handling, Inc., Hanwha Corp., Daifuku Co., Ltd., Cargotec Oyj, Columbus McKinnon Corp., Crown Equipment Corp., Clark Material Handling Company, and Beumer Group.