Material handling equipment market By Top industry players: Daifuku, Columbus McKinnon, Kion, Flexlink, KUKA , JBT, and Intelligrated
Date: 2018-08-03   Author: Sunil Hebbalkar  Category: #market

The advent of machine learning and other next-generation technologies are reportedly being purported to drive material handling equipment market over 2018-2024. Shifting trends toward online shopping and a growing number of warehouse services will further impel the industry growth.

Five trends prevalent in material handling equipment market:

  • As per estimates, robotics material handling equipment market will reportedly generate a revenue of more than USD 20 billion by the end of 2024. The advent of AI-based technologies in robotics mainly across China and Japan is poised to fuel product demand over the years ahead.
  • In the last few years, automated storage and retrieval systems are gaining remarkable popularity across the globe pertaining to their capability to facilitate real-time inventory control, safe operations, and accuracy in picking orders. With the increasing acceptance of these systems, AS/RS material handling equipment industry will surpass a revenue collection of USD 49 billion by the end of 2024.
  • Reports cite that material handling equipment market size from third-party logistics (3PL) applications will register a CAGR of above 6% over 2018-2024. The growth will be driven by businesses shifting their focus toward 3PL services to ensure smooth and efficient operations.
  • In 2017, material handling equipment industry share from e-commerce applications was pegged at USD 14 billion. Material handling solutions are extensively used in the e-commerce sector for improving order accuracy, maintaining better cycle times, and optimizing productivity. The increased product deployment for speeding up the operations will reportedly fuel industry trend over the years ahead.
  • Asia Pacific material handling equipment industry will register a CAGR of more than 6.5% over 2018-2024. The rapid industrialization and increasing availability of logistic services across this region are poised to enhance product demand.

The competitive spectrum of material handling equipment market is quite diverse, inclusive of companies like Daifuku Co., Ltd., Columbus McKinnon, Kion Group AG, Flexlink, KUKA AG, JBT Corporation, and Intelligrated, Inc.

About Author

Sunil Hebbalkar

Sunil Hebbalkar

Sunil currently works as an content writer at AlgosOnline. A Post graduate mechanical design engineer by qualification, he worked as an intern at the defense lab for one year in the engine design and development department before switching his professional genre. Foll...

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