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Material Handling Equipment Market
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Material Handling Equipment Market

Author: Swarup Sahu - Senior Consultant, Report ID - DS1401020, Published - December 2024

Segmented in Product Type (Automated Storage & Retrieval Systems, Conveying Systems), End User (Mining, Refinery & Petrochem, Pharmaceutical, Food & Beverage, Others), Industry Application, Functionality and Regions - Global Industry Analysis, Size, Share, Trends, and Forecast 2024 – 2034

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Global Material Handling Equipment
Market Outlook

Material Handling Equipment (abbreviated as MHE ) plays a role, in industries spanning different sectors by enhancing operational efficiency and productivity seamlessly. The market, for Material handling equipment was estimated at $283.7 billion in 2024. It is anticipated to increase to $430.5 billion by 2030 with projections indicating a growth to around $609.5 billion by 2035. This expansion represents a compound annual growth rate (CAGR) of 7.2% over the forecast period. It showcases the transformative power of the industrial landscape by integrating cutting edge technology with reliable functionality to optimize processes rapidly and effectively.


MHE stands out for its range of characteristics like longevity and dependability as well as the ability to customize various equipment including forklifts and conveyors along, with automated storage and retrieval systems.


Market Size Forecast & Key Insights

2019
$283B2024
2029
$568B2034

Absolute Growth Opportunity = $285B

The Material Handling Equipment market is projected to grow from $283.7 billion in 2024 to $568 billion in 2034. This represents a CAGR of 7.2%, reflecting rising demand across Inventory Management, Manufacturing Processes and Shipping and Logistics.

The Material Handling Equipment market is set to add $285 billion between 2024 and 2034, with manufacturer targeting Refinery & Petrochem & Pharmaceutical End User projected to gain a larger market share.

With Rising e-commerce demand, and Sustainability focus in manufacturing, Material Handling Equipment market to expand 100% between 2024 and 2034.

Opportunities in the Material Handling Equipment Market

IoT in Material Handling

The potential of the Industrial Internet of Things, offers businesses improved control and visibility through real time tracking and predictive maintenance integrated with material handling equipment, for enhanced efficiency.

Robotics Integration and Sustainable and Energy-Efficient Solutions

Automation has become increasingly common in industries over time and material handling is no different in this regard. Integrating robotics into material handling operations can lead to efficiency levels along with cost savings, on labor and increased safety protocols.

The rising need in the market for eco energy efficient material handling tools has led businesses to focus more towards reducing their environmental impact by cutting down energy usage and meeting regulations effectively. This sectors advancements are poised to bring about a shift, in the material handling equipment industrys landscape moving forward.

Growth Opportunities in North America and Europe

Europe Outlook

In contrast the European market is influenced by the manufacturing and logistics industry. The rise of Industry 4. O and widespread use of factories have increased the need for cutting edge material handling equipment. Conscious practices and supportive government policies play a key role, in driving market growth. However challenges arise from the maintenance expenses and the presence of inexpensive labor

North America Outlook

In North America's material handling equipment industry there exists competition among key players who hold substantial market shares. The market growth is driven by the increasing demand for cutting edge technologies to improve supply chain operations and address safety issues. The implementation of systems has been accelerated by strict safety regulations for workers. Industries such as e commerce automotive and pharmaceutical sectors have particularly contributed to the demand, for material handling systems.

North America Outlook

In North America's material handling equipment industry there exists competition among key players who hold substantial market shares. The market growth is driven by the increasing demand for cutting edge technologies to improve supply chain operations and address safety issues. The implementation of systems has been accelerated by strict safety regulations for workers. Industries such as e commerce automotive and pharmaceutical sectors have particularly contributed to the demand, for material handling systems.

Europe Outlook

In contrast the European market is influenced by the manufacturing and logistics industry. The rise of Industry 4. O and widespread use of factories have increased the need for cutting edge material handling equipment. Conscious practices and supportive government policies play a key role, in driving market growth. However challenges arise from the maintenance expenses and the presence of inexpensive labor

Growth Opportunities in North America and Europe

Established and Emerging Market's Growth Trend 2025–2034

1

Major Markets : United States, China, Germany, Japan, India are expected to grow at 4.7% to 6.9% CAGR

2

Emerging Markets : Brazil, Malaysia, South Africa are expected to grow at 8.3% to 9.9% CAGR

Market Analysis Chart

The Material Handling Equipment (MHE) market is mainly influenced by a range of factors. One key factor is the growing industrialization and integration of automation technologies within supply chain networks which offer promising growth opportunities. The rising demand is driven by the need for operations within warehouses and distribution centers. Moreover e commerces shift has also played a role as it has led to a substantial increase in MHE demand to meet the fast paced needs, for sorting and delivering products efficiently.

Recent Developments and Technological Advancement

December 2024

Toyota Material Handling has introduced a range of automated guided vehicles designed to enhance efficiency in warehouses and distribution centers.

October 2024

Crown Equipment Corporation has unveiled the enhancement of its range of gas powered forklifts, with improved ergonomics and sturdy performance capabilities.

August 2024

Linde Material Handling, from KION Group AG has unveiled a series of order pickers that aim to enhance energy efficiency and user friendly operation.

In years there have been notable advancements within the Material Handling Equipment ( MHE ) market due to the rising popularity of automation across different sectors. The growing requirement for productive warehouse operations particularly within the e commerce manufacturing and retail domains has led to a surge in the need, for MHE.

Impact of Industry Transitions on the Material Handling Equipment Market

As a core segment of the Industrial Tools & Machinery industry, the Material Handling Equipment market develops in line with broader industry shifts. Over recent years, transitions such as Automation Revolution and Sustainability-Focused Practices have redefined priorities across the Industrial Tools & Machinery sector, influencing how the Material Handling Equipment market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.

1

Automation Revolution:

The Material Handling Equipment industry is experiencing a shift towards automation due to rapid technological progressions. Automated systems are reshaping how tasks are executed and leading to productivity and efficiency levels. Firms that have embraced these changes swiftly have gained an advantage by transitioning from manual operations, to cutting edge automated equipment.

2

Sustainability-Focused Practices:

The increasing consciousness and worldwide shift towards promoting sustainability have led to a change in industry norms, towards more eco friendly choices. Companies are now prioritizing the development of energy environmentally conscious material handling equipment to minimize their ecological footprint. This shift is transforming the dynamics of the market. Driving demand as businesses look for sustainable alternatives to address their material handling requirements.

Global Events Shaping Future Growth

The chart below highlights how external events including emerging market developments, regulatory changes, and technological disruptions, have added another layer of complexity to the Industrial Tools & Machinery industry. These events have disrupted supply networks, changed consumption behavior, and reshaped growth patterns. Together with structural industry transitions, they demonstrate how changes within the Industrial Tools & Machinery industry cascade into the Material Handling Equipment market, setting the stage for its future growth trajectory.

Market Dynamics and Supply Chain

Driver: Rising E-Commerce Demand, and Technological Advancements in Automation

The rapid expansion of the e commerce industry has also created a need for effective and quick material handling solutions. This trend is also driving advancements and progress within the Material Handling Equipment market as businesses strive to streamline their operations and incorporate systems, for managing warehouses and logistics effectively.
The Material Handling Equipment market is also undergoing a transformation with the introduction of technology in automation and robotics systems which are also intelligent enough to operate independently with significant reductions, in labor costs and enhanced efficiency while also reducing human errors significantly.
The worldwide attention towards sustainability has also extended to the manufacturing industry well; businesses are also increasingly prioritizing the reduction of energy usage and carbon footprints in their operations. Cutting edge and eco friendly equipment for handling materials offers a solution, to this challenge and fuels ongoing advancements and expansion within the sector.

Restraint: High Equipment Costs

The main issue in the Material Handling Equipment market is the upfront expenses associated with acquiring the equipment itself—a major obstacle, for various organizations and especially smaller businesses lacking the financial means to purchase such systems initially The ongoing maintenance and repair expenses further exacerbate this financial strain and hinder market expansion.

Challenge: Fragmented Supply Chain

One significant obstacle is the breakdown of the supply chain in the Material Handling Equipment industry which operates on a scale and depends largely on international supply chains that can be complex and inefficient due to diverse regulations and customs procedures, across different countries This results in delays and higher expenses that could hinder market expansion.

Supply Chain Landscape

Raw Material Sourcing

ArcelorMittal

Baosteel Group

Design & Development

Kion Group

Daifuku

Honeywell Intelligrated

Production & Assembly
Hyster-Yale Materials Handling / Toyota Industries / Mitsubishi
Distribution & End User Applications
Crown Equipment / Jungheinrich / Caterpillar
Raw Material Sourcing

ArcelorMittal

Baosteel Group

Design & Development

Kion Group

Daifuku

Honeywell Intelligrated

Production & Assembly

Hyster-Yale Materials Handling

Toyota Industries

Mitsubishi

Distribution & End User Applications

Crown Equipment

Jungheinrich

Caterpillar

Banner LogoBanner Logo

Leading Providers and Their Strategies

Application AreaIndustryLeading ProvidersProvider Strategies
Warehousing
Logistics and Warehousing
KUKA AG, Jungheinrich AG
Advanced automation technology and smart warehousing solutions
Packaging
Manufacturing and Retail
Daifuku Co.,LTD, Toyota Industries Corporation
Robotic packaging systems, data-driven operations
Transportation & Distribution
Food & Beverage, Manufacturing
KION Group AG, Hyster-Yale Materials Handling, Inc.
Intelligent transport systems, energy-efficient equipment

Elevate your strategic vision with in-depth analysis of key applications, leading market players, and their strategies. The report analyzes industry leaders' views and statements on the Material Handling Equipment market's present and future growth.

Our research is created following strict editorial standards. See our Editorial Policy

Applications of Material Handling Equipment in Manufacturing Processes, Shipping and Logistics and Inventory Management

Manufacturing Processes

In the manufacturing sector material handling equipment (MHE) has a function in transporting raw materials and final products across various phases of production. This speeds up production reduces mistakes made by humans and promotes safety. Major industry players, like Daifuku Co. And Murata Machinery utilize MHE in their facilities to enhance effectiveness and boost production speed.

Shipping and Logistics

The use of material handling equipment (MHE) has brought changes to the shipping and logistics sector by facilitating the transportation of goods in various locations such as ports and distribution centers while ensuring efficient handling and reducing potential damages to the products in transit. Leading companies, like Hyster Yale Material Handling Inc. And Jungheinrich AG have leveraged this technology to streamline supply chain operations and achieve cost savings.

Inventory Management

Material handling equipment (MHE) plays a role in the efficient management and organization of inventory within warehouses and storage facilities by aiding in the lifting of heavy items and facilitating the orderly storage of products to minimize manual labor and enhance overall productivity levels. Companies such, as Toyota Industries and KION Group have harnessed these functionalities to optimize their inventory operations effectively. This strategic utilization has enabled them to gain an edge through cost reduction initiatives and improved space utilization strategies.

Material Handling Equipment vs. Substitutes:
Performance and Positioning Analysis

Material Handling Equipment ( MHE ) enables storage and transportation of goods beyond the capabilities of manual labor in terms of reach and speed. The distinctive market advantage of MHE is its capacity for automation and seamless integration with systems indicating significant potential for expansion in conjunction, with the development of autonomous industries.

Material Handling Equipment
  • Manual Labor /
  • Automation and Robotics
    Enhanced efficiency and productivity, Reduced labor costs
    High upfront cost, Maintenance and repair needs
    Cost-effectiveness, Increased Productivity
    High Maintenance Costs, Specialized Training Required

Material Handling Equipment vs. Substitutes:
Performance and Positioning Analysis

Material Handling Equipment

  • Enhanced efficiency and productivity, Reduced labor costs
  • High upfront cost, Maintenance and repair needs

Manual Labor / Automation and Robotics / Industrial Internet of Things (IIoT) devices

  • Cost-effectiveness, Increased Productivity
  • High Maintenance Costs, Specialized Training Required

Material Handling Equipment ( MHE ) enables storage and transportation of goods beyond the capabilities of manual labor in terms of reach and speed. The distinctive market advantage of MHE is its capacity for automation and seamless integration with systems indicating significant potential for expansion in conjunction, with the development of autonomous industries.

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Research Methodology

This market research methodology defines the Material Handling Equipment market scope, gathers reliable data, and validates findings using integrated primary and secondary research. Our systematic framework ensures precise market sizing, growth trend analysis, and competitive benchmarking.


Secondary Research Approach


We begin secondary research by defining the targeted market at macro and micro levels. As part of the Industrial Tools & Machinery ecosystem, we analyze Material Handling Equipment across Mining, Refinery & Petrochem, and Pharmaceutical Applications. Our team gathers data systematically from country level ministerial sources, industry associations & federations, trade databases, company annual & quarterly reports and other credential sources, enabling us to map global and regional market size, pricing trends, regulatory standards, and technology advancements.



Key Sources Referenced:

Prodcom / Census US / Statcan / e-stat Japan / ABS Australia / KOSIS Korea

Annual Reports / Industry Magazines / Country Level Ministerial Sources / World Mining Data

• Trade Sources (USA Trade Census, EU Comext, China Customs)

Interviews of Industry Stake Holders

Industry Views of Consultants

merics.org

• NAICS - Economic Statistics (US, Canada)

DataString Database

We benchmark competitors such as Daifuku Co. Ltd, SSI Schaefer Group, and Hyster-Yale Materials Handling Inc by reviewing company financial statements, and regulatory filings. Our secondary insights identify key market drivers and constraints, forming the analytical foundation for primary research.


Primary Research Methods


We conduct structured interviews and surveys with industry stakeholders, including Raw Material Sourcing, Design & Development, and Production & Assembly. Our geographic coverage spans Americas (40%), Europe (30%), Asia-Pacific (25%) and Middle East & Africa (5%). Our online surveys generally achieve a response rate of above 65%, and telephone interviews yield 60%, resulting in above 92% confidence level with a ±7% margin of error.


Through targeted questionnaires and in-depth interviews, we capture purchase intent, adoption barriers, brand perception across Segment Type. We use interview guides to ensure consistency and anonymous survey options to mitigate response bias. These primary insights validate secondary findings and align market sizing with real-world conditions.


Market Engineering & Data Analysis Framework


Our data analysis framework integrates Top-Down, Bottom-Up, and Company Market Share approaches to estimate and project market size with precision.


Top-down & Bottom-Up Process


In Top-down approach, we disaggregate global Industrial Tools & Machinery revenues to estimate the Material Handling Equipment segment, using historical growth patterns to set baseline trends. Simultaneously, in Bottom-up approach, we aggregate Country-Level Demand Data to derive regional and global forecasts, which provide granular consumption insights. By reconciling both approaches, we ensure statistical precision and cross-validation accuracy.


We evaluate the supply chain, spanning Raw Material Sourcing (ArcelorMittal, Baosteel Group), Design & Development (Kion Group, Daifuku), and Production & Assembly. Our parallel substitute analysis examines Manual Labor, Automation and Robotics, and Industrial Internet of Things (IIoT) devices, highlighting diversification opportunities and competitive risks.


Company Market Share & Benchmarking


We benchmark leading companies such as Daifuku Co. Ltd, SSI Schaefer Group, and Hyster-Yale Materials Handling Inc, analyzing their capabilities in pricing, product features, technology adoption, and distribution reach. By assessing company-level revenues and product portfolios, we derive market share comparisons, clarifying competitive positioning and growth trajectories across the ecosystem.


Our integration of data triangulation, supply chain evaluation, and company benchmarking, supported by our proprietary Directional Superposition methodology enables us to deliver precise forecasts and actionable strategic insights into the Material Handling Equipment market.


Quality Assurance and Compliance


We cross-reference secondary data with primary inputs and external expert reviews to confirm consistency. Further, we use stratified sampling, anonymous surveys, third-party interviews, and time-based sampling to reduce bias and strengthen our results.


Our methodology is developed in alignment with ISO 20252 standards and ICC/ESOMAR guidelines for research ethics. The study methodology follows globally recognized frameworks such as ISO 20252 and ICC codes of practice.

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Material Handling Equipment Market Data: Size, Segmentation & Growth Forecast

Report AttributeDetails
Market Value in 2025USD 304 billion
Revenue Forecast in 2034USD 568 billion
Growth RateCAGR of 7.2% from 2025 to 2034
Base Year for Estimation2024
Industry Revenue 2024283 billion
Growth OpportunityUSD 285 billion
Historical Data2019 - 2023
Growth Projection / Forecast Period2025 - 2034
Market Size UnitsMarket Revenue in USD billion and Industry Statistics
Market Size 2024283 billion USD
Market Size 2027349 billion USD
Market Size 2029401 billion USD
Market Size 2030430 billion USD
Market Size 2034568 billion USD
Market Size 2035609 billion USD
Report CoverageMarket revenue for past 5 years and forecast for future 10 years, Competitive Analysis & Company Market Share, Strategic Insights & trends
Segments CoveredProduct Type, End User, Industry Application, Functionality
Regional scopeNorth America, Europe, Asia Pacific, Latin America and Middle East & Africa
Country scopeU.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE and South Africa
Companies ProfiledDaifuku Co. Ltd, SSI Schaefer Group, Hyster-Yale Materials Handling Inc, Jungheinrich AG, Viastore Systems Inc, Eisenmann SE, Crown Equipment Corporation, Columbus McKinnon Corporation, Flexlink AB, Toyota Industries Corporation, KION Group AG and System Logistics Spa
CustomizationFree customization at segment, region or country scope and direct contact with report analyst team for 10 to 20 working hours for any additional niche requirement which is almost equivalent to 10% of report value

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Table of Contents

Industry Insights Report - Table Of Contents

Chapter 1

Executive Summary

Major Markets & Their Performance - Statistical Snapshots

Chapter 2

Research Methodology

2.1Axioms & Postulates
2.2Market Introduction & Research MethodologyEstimation & Forecast Parameters / Major Databases & Sources
Chapter 3

Market Dynamics

3.1Market OverviewDrivers / Restraints / Opportunities / M4 Factors
3.2Market Trends
3.2.1Introduction & Narratives
3.2.2Market Trends - Impact Analysis(Short, Medium & Long Term Impacts)
3.3Supply Chain Analysis
3.4Porter's Five ForcesSuppliers & Buyers' Bargaining Power, Threat of Substitution & New Market Entrants, Competitive Rivalry
Chapter 4

Material Handling Equipment Market Size, Opportunities & Strategic Insights, by Product Type

4.1Automated Storage & Retrieval Systems
4.2Conveying Systems
Chapter 5

Material Handling Equipment Market Size, Opportunities & Strategic Insights, by End User

5.1Mining
5.2Refinery & Petrochem
5.3Pharmaceutical
5.4Food & Beverage
5.5Others
Chapter 6

Material Handling Equipment Market Size, Opportunities & Strategic Insights, by Industry Application

6.1Manufacturing
6.2Warehousing
Chapter 7

Material Handling Equipment Market Size, Opportunities & Strategic Insights, by Functionality

7.1Storage
7.2Transportation
Chapter 8

Material Handling Equipment Market, by Region

8.1North America Material Handling Equipment Market Size, Opportunities, Key Trends & Strategic Insights
8.1.1U.S.
8.1.2Canada
8.2Europe Material Handling Equipment Market Size, Opportunities, Key Trends & Strategic Insights
8.2.1Germany
8.2.2France
8.2.3UK
8.2.4Italy
8.2.5The Netherlands
8.2.6Rest of EU
8.3Asia Pacific Material Handling Equipment Market Size, Opportunities, Key Trends & Strategic Insights
8.3.1China
8.3.2Japan
8.3.3South Korea
8.3.4India
8.3.5Australia
8.3.6Thailand
8.3.7Rest of APAC
8.4Middle East & Africa Material Handling Equipment Market Size, Opportunities, Key Trends & Strategic Insights
8.4.1Saudi Arabia
8.4.2United Arab Emirates
8.4.3South Africa
8.4.4Rest of MEA
8.5Latin America Material Handling Equipment Market Size, Opportunities, Key Trends & Strategic Insights
8.5.1Brazil
8.5.2Mexico
8.5.3Rest of LA
8.6CIS Material Handling Equipment Market Size, Opportunities, Key Trends & Strategic Insights
8.6.1Russia
8.6.2Rest of CIS
Chapter 9

Competitive Landscape

9.1Competitive Dashboard & Market Share Analysis
9.2Company Profiles (Overview, Financials, Developments, SWOT)
9.2.1Daifuku Co. Ltd
9.2.2SSI Schaefer Group
9.2.3Hyster-Yale Materials Handling Inc
9.2.4Jungheinrich AG
9.2.5Viastore Systems Inc
9.2.6Eisenmann SE
9.2.7Crown Equipment Corporation
9.2.8Columbus McKinnon Corporation
9.2.9Flexlink AB
9.2.10Toyota Industries Corporation
9.2.11KION Group AG
9.2.12System Logistics Spa