Material handling equipment includes a variety of tools, vehicles, warehouses, equipment, and accessories involved in the transport, storage, control, calculation and counting of products at any stage of manufacture, distribution use or disposal. The main objectives of asset management are as follows: It must be able to determine the appropriate distance to be installed. Prepare for waste reduction to improve quality. Reduce the overall performance time by designing the movement of the material.
Market Scope and Structure Analysis
The Material Handling Equipment Market is divided based on Product, End-user, and region. Based on Product these are divided as Storage & Handling Equipment, Automated Storage & Retrieval System, Industrial Trucks. During the forecast period, investments in automated assets will increase, opening lucrative opportunities in the real estate market. The transportation of heavy containers or crates in several markets for practical use was done by industrial trucks, thus contributing to greater market share. Based on End-user it is divided into Automotive, Food & Beverages, Chemical, Semiconductor & Electronics, E-commerce, Aviation, Pharmaceutical, Others. The retail industry has always shown great potential for profit, a trend that will continue over time, the availability of online purchases has encouraged retailers to create low-performance centers that facilitate faster product delivery that contributes to the demand for inventory equipment. Based on region, it is divided as North America, Europe, LAMEA, Asia-Pacific.
COVID-19 Impact analysis.
- The impact of the COVID-19 spread temporary shutdown the production, operation, and logistic process in Material Handling Equipment market.
- The use of Material Handling Equipment market is more likely to go backward, as the need for Ventilators is increased during COVID-19 therefore, which will lead to lower the demand for Material Handling Equipment market in the year.
- A few companies have completely shut down their manufacturing operations, disrupting the sale of goods. Social segregation is also evident in other parts of the manufacturing system, including transportation. This continued suspension of commercial activities, thereby having a negative impact on market growth, especially in the manufacturing sector.
- However, in Industries related to the use of these markets product are likely to be back on track, therefore, leading to greater demand for Material Handling Equipment market in the coming years.
- Because of COVID-19, all economic activities, except for some emergency services, such as medical stores, supermarkets, hospitals, and a few online stores, have stalled. This has led to the temporary suspension of Material Handling Equipment global demand.
- COVID-19 epidemic has created a need for a wholly automatic solution in the manufacturing area, with companies growing investment in automatic solutions in upcoming years. In addition, companies are set to improve their delivery and screening system over the next two years. As a result of the epidemic, however, several medium-sized businesses have changed their plans to buy or modernize new equipment.
Top Impacting Factors
Despite the uncertainties created by the coronavirus epidemic, governmental approvals to support infrastructure development around the world, create opportunities for growth in the real estate market in the forecast period. Economies such as India, China and Southeast Asia attract foreign investment that promotes infrastructure and industrial development, which has created growth paths. Public infrastructure improvements include airports, railway networks, equipment ports and power stations, and more.
All of these activities may require the adoption of equipment to carry goods in the weather. Although demand for industrial applications saw a slight decline in 2020, unprecedented growth in the trade sector helped maintain market growth through the epidemic. The healthy demand for the delivery and distribution of food items during the closure came as an opportunity for market growth.
In addition to OEMs, the epidemic has run many buying firms to test tools that help make informed decisions about AI implementation to analyze the big data they generate from time to time. The combination of data-driven understanding and retrospect will help to build resilience to the provision of robustness supported by advances in mechanical technology.
- The development of China's One Belt One Route (OBOR) program, also known as the Belt and Road Initiative (BRI), is expected to be of great benefit to the building materials management industry. The move to connect a network of railways and roads from China to Europe through the Middle East will provide opportunities for growth. Other similar programs will show the best in the cargo handling industry in the next few years.
- KION GROUP AG has develop a factory for the cutting edge of industrial trucks in the city of Kołbaskowo. The site will manufacture opposition trucks for various production companies in parts of KION Industrial. This includes a series of models previously developed for sites in western Europe, by the motive of improving the level of digital and automation integration of those sites. To speed up delivery times, a series of models currently being made exclusively in Xiamen, China, will also be performed in Kołbaskowo from next year
Key Benefits of the Report
- This study presents the analytical depiction of the Material Handling Equipment Market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Material Handling Equipment Market.
- The current market is quantitatively analyzed to highlight the Material Handling Equipment Market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Material Handling Equipment Market based on competitive intensity and how the competition will take shape in coming years.
Material Handling Equipment Market Report Highlights
By End-user Sector
Key Market Players
Toyota Material Handling Group, S.A, Murata Machinery Ltd., Honeywell International Inc., BEUMER Group, SSI Schaefer AG, Daifuku Co., Ltd., Vanderlande Industries B.V, Swisslog Holding AG, Kion Group AG, Mecalux