The importance of material handling equipment is growing exponential among industries such as aerospace, agriculture, automotive, etc., as managing the manufacturing plant or warehouse has become an essential operation to look for. Material handling involves, managing the storage and movement of good & products in the warehouse or manufacturing plant. Material handling increases the productivity by improving the logistics in the manufacturing plant.
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Material handling equipment are required in warehouse or manufacturing plant for quick movement of goods or products, locating stock, preparing orders and localizing stock. Need of optimum utilization of equipment, demand for flexibility in warehouse operations, customer satisfaction, supply chain transparency, vision guided robotics, to reduce excessive downtime at warehouse, growing automation and technology advancements in material handling equipment are driving the market for global material handling equipment market. The global material handling equipment market growth is inhibited due to growing material handling equipment prices, rising steel prices and lack of skilled labor.
Different types available in material handling equipment market are conveying equipment, bucket conveyor, screw conveyer, vibrating conveyer, roller conveyer, magnetic belt conveyer, chain conveyer, platform truck, walkie stacker, pallet jack, platform truck, etc. The global material handling market can be segmented on the basis of product type such as conveying equipment, industrial trucks & lifts, hoist, cranes & monorails and automated material handling equipment. Many industries use material handling equipment to increase their productivity and accuracy.
The global material handling equipment market is segmented on the basis of end use industries such as Aerospace, Agriculture, Air Cargo, Automotive, Building and Construction, Electrical & Electronic Equipment, Industrial Machinery, Shipping Industry, Warehousing, Postal/Express Delivery and others.Currently, these industries are experiencing steady growth in regions like Asia Pacific, Europe and North America.
Currently, global material handling equipment market is dominated by Asia Pacific region, whichis estimated to capture 30-40% of the global material handling equipment market value. Asia Pacific is followed by Europe and North America. Global material handling equipment market is expected to grow at a CAGR between 3-6% from 2014-2020, and in future, Asia Pacific is forecast to continue its dominance in global material handling equipment market, due to expected growth in end use industries.
Global material handling equipment market has key players mainly from North America, Western Europe, Japan and China. Some of the key players in this industry are Liebherr Group, KION Group AG, Jungheinrich AG, Viastore Systems GmbH, WITRON Logistik + Informatik GmbH, Eisenmann AG, Beumer Maschinenfabrik GmbH, Jervis B. Webb Company, Columbus McKinnon Corporation, Crown Equipment Corporation, Hyster-Yale Materials Handling, Inc., Hytrol Conveyor Co., Inc., Manitowoc Company, Inc., Xuzhou Heavy Machinery Co., Ltd. And Toyota Industries Corporation.
Currently, global material handling equipment market is experiencing consolidation between industry players. For example, in 2013, Interroll acquired Portec Group International, Kalmar acquired Mareiport, Toyota industries acquired Cascade in 2012. Companies are also entering into strategic partnerships in material handling equipment market, for instance, in 2014, Liebherr and Kamaz entered in strategic partnership.
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Global material handling equipment market is experiencing increasing automation, safety and productivity. Companies are focusing on innovating equipment based on above three factors and as per customer requirements. In Future, we expect to see emergence of high control methodologies in material handling equipment market. Integration of electronic intelligence with material handling equipment is expected to change the global material handling equipment market during next 5-6 years.