-1.png?width=144&height=22&name=logo-text-white(4)-1.png "Statzon"){kind=logo}
This editorial highlights key insights from one of the latest reports added to Statzon, provided by Statzon’s data partner, Global Market Insights Inc. The report explores the Material Handling Equipment Market 2025 - 2034, examining market trends, growth drivers, key players, and forecasts from 2025 to 2034. Thanks to our collaboration with Global Market Insights Inc., the full report is available on the Statzon Market Intelligence Platform.
Report published: December 2024
Pages: 242
Publisher: Global Market Insights
View the full report on Statzon
Overview: Global Material Handling Equipment Market Size and Growth
The global material handling equipment market, valued at USD 178.2 billion in 2024, is projected to reach USD 310.9 billion by 2034, advancing at a CAGR of 6.0%. The market's expansion is particularly significant in Asia Pacific, which currently holds 38.6% market share according to the report's regional analysis. In 2024, Asia Pacific generated USD 68.8 billion in revenue, demonstrating the region's market dominance.
Key Market Growth Drivers and Industry Trends 2025-2034
According to the report, three primary factors are driving market growth. The expanding e-commerce and logistics industries are creating unprecedented demand for material handling solutions, with e-commerce logistics market size projected to grow from USD 426.2 billion in 2023 to USD 1,400 billion by 2032. Rising labor costs and workforce challenges are accelerating automation adoption, while increased warehouse and distribution center investments are fueling equipment demand. The logistics automation market is expected to expand from USD 54.7 billion in 2023 to USD 148.4 billion by 2032.
Material Handling Equipment Market Segmentation Analysis
The report segments the market into distinct product categories, each showing unique growth patterns. Storage and handling equipment leads with 25.3% market share (USD 45.1 billion in 2024), followed by bulk material handling equipment at 30.1% (USD 53.7 billion). The robotics segment, while currently smaller at 12.2% (USD 21.6 billion), shows the highest growth potential with an 8.1% CAGR through 2034. AS/RS systems represent 16% of the market (USD 28.4 billion), driven by increasing automation demands.
Leading Companies and Competitive Analysis 2024
The report identifies a concentrated market structure where seven companies control 26% of market share. Toyota Industries Corporation leads with USD 16.8 billion in material handling equipment revenue, followed by KION Group AG (USD 9.2 billion) and Jungheinrich AG (USD 4.6 billion). These companies differentiate themselves through extensive product portfolios, global distribution networks, and significant investments in automation technology.
Regional Market Analysis and Growth Prospects
The report details distinct regional market dynamics:
- Asia Pacific: USD 68.8 billion (2024) with 7.3% projected CAGR
- Europe: USD 45.6 billion (2024) with 5.8% projected CAGR
- North America: USD 35.5 billion (2024) with 4.0% projected CAGR
- Latin America: USD 16.3 billion (2024) with 5.0% projected CAGR
- MEA: USD 11.7 billion (2024) with 6.4% projected CAGR
Technology Innovation and Market Transformation
The report highlights significant technological advances shaping the industry. Internet of Things (IoT) integration is driving enhanced equipment monitoring and maintenance capabilities, with the IoT technology market expected to grow from USD 0.9 billion in 2023 to USD 1.8 billion by 2032. Warehouse management systems are evolving, with market size projected to increase from USD 3.5 billion in 2023 to USD 9.5 billion by 2032.
Industry Challenges and Market Barriers
The report identifies two primary challenges affecting market growth: high initial costs of material handling equipment and lack of awareness regarding equipment operation. These factors particularly impact small and medium-sized businesses' adoption rates and overall market penetration in developing regions.
Market Outlook and Future Projections 2025-2034
The report projects steady market expansion, with global revenue reaching USD 183.3 billion by 2025 and growing to USD 310.9 billion by 2034. Key growth areas include automated storage and retrieval systems (7.2% CAGR), robotics (8.1% CAGR), and industrial trucks (6.3% CAGR). The pharmaceutical/healthcare sector is expected to show strong growth (7.8% CAGR), followed by e-commerce applications (7.5% CAGR).
End-User Applications and Industry Adoption
The report reveals a complex landscape of end-user adoption across various sectors, with pharmaceutical/healthcare emerging as the fastest-growing application segment at 7.8% CAGR through 2034. This growth is primarily driven by stringent regulatory requirements and the increasing need for precise material handling in sensitive healthcare environments. The pharmaceutical sector requires advanced solutions for handling delicate items such as syringes, vials, and tablets, leading to increased adoption of automated systems and robotic solutions.
E-commerce represents another significant growth sector, with a projected 7.5% CAGR through 2034. The report indicates that this growth is fueled by increasing online retail volumes and the need for rapid order fulfillment capabilities. E-commerce operations are increasingly investing in automated storage and retrieval systems, robotic picking solutions, and conveyor systems to manage higher throughput requirements and meet consumer expectations for faster delivery.
The third-party logistics (3PL) sector demonstrates steady growth at 5.6% CAGR, reflecting the increasing trend toward outsourced logistics operations. According to the report, 3PL companies are adopting sophisticated material handling equipment to enhance performance, increase IT integration, and maintain customer satisfaction through accurate and timely deliveries. The food and beverage sector shows consistent growth at 5.4% CAGR, driven by the need for specialized handling equipment for temperature-controlled environments and the increasing automation of food processing and distribution facilities.
Manufacturing applications, while growing at a more moderate 4.9% CAGR, remain a cornerstone of the market. The report highlights that manufacturing facilities are increasingly adopting automated material handling solutions to reduce operational costs, improve productivity, and maintain competitiveness in an evolving global market landscape. This trend is particularly pronounced in durable goods manufacturing, where high-quality material handling equipment is essential for managing complex production processes and maintaining efficient supply chains.
View the full report on Statzon
|
Get Access to This Report and Millions of Insights in Statzon.
|
