Material Handling Equipment Market
The market for Material Handling Equipment was estimated at $284 billion in 2024; it is anticipated to increase to $431 billion by 2030, with projections indicating growth to around $609 billion by 2035.
Report Summary
Market Data
Methodology
Table of Contents
Global Material Handling Equipment Market Outlook
Revenue, 2024
$284B
Forecast, 2034
$568B
CAGR, 2025 - 2034
7.2%
The Material Handling Equipment industry revenue is expected to be around $304.1 billion in 2025 and expected to showcase growth with 7.2% CAGR between 2025 and 2034. 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 Key Insights
- The Material Handling Equipment market is projected to grow from $283.7 billion in 2024 to $569 billion in 2034. This represents a CAGR of 7.2%, reflecting rising demand across Inventory Management, Manufacturing Processes and Shipping and Logistics.
- Daifuku Co. Ltd, SSI Schaefer Group, Hyster-Yale Materials Handling Inc are among the leading players in this market, shaping its competitive landscape.
- U.S. and China are the top markets within the Material Handling Equipment market and are expected to observe the growth CAGR of 4.7% to 6.9% between 2024 and 2030.
- Emerging markets including Brazil, Malaysia and South Africa are expected to observe highest growth with CAGR ranging between 8.3% to 9.9%.
- Transition like Automation Revolution has greater influence in United States and China market's value chain; and is expected to add $15 billion of additional value to Material Handling Equipment industry revenue by 2030.
- 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
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.
Growth Opportunities in North America and Europe
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.
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
Market Dynamics and Supply Chain
01
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.
02
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.
03
Opportunity: Sustainable and Energy-Efficient Solutions and Robotics Integration
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.
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.
04
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
1
Raw Material Sourcing
ArcelorMittalBaosteel Group
2
Design & Development
Kion GroupDaifukuHoneywell Intelligrated
3
Production & Assembly
Hyster-Yale Materials HandlingToyota IndustriesMitsubishi
4
Distribution & End User Applications
Crown EquipmentJungheinrichCaterpillar
1
Raw Material Sourcing
ArcelorMittalBaosteel Group
2
Design & Development
Kion GroupDaifukuHoneywell Intelligrated
3
Production & Assembly
Hyster-Yale Materials HandlingToyota IndustriesMitsubishi
4
Distribution & End User Applications
Crown EquipmentJungheinrichCaterpillar
Use Cases of Material Handling Equipment in Inventory Management & Manufacturing Processes
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.
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.
Recent Developments
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.
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.
Impact of Industry Transitions on the Material Handling Equipment Market
As a core segment of the Production Tools & Equipment 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 Production Tools & Equipment 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.
01
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.
02
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.