Material handling equipment
acts as an essential part of the supply chain for varied industries that help in transporting, controlling and storing of materials in the entire manufacturing process of a product. The application of material handling equipment in manufacturing process enhances the workflow efficiency and optimizes the utilization of warehouses. The benefits of material handling equipment include efficiency, cost effectiveness and accuracy in movement of goods from the raw material stage to the final stage of distribution of finished products.
The global material handling equipment is witnessed to be one of the fastest growing markets because of its potentiality. The growing need of the global production organizations to upgrade the material flow in an efficient manner and automate operations is the key driver of the global material handling equipment market. Other factors that contribute to the growth of the market are increased investments in the construction sector, technical advancements, and increase in consumer spending. The application of material handling equipment is prominent in industries such as manufacturing, mining, shipping, construction and others.The global Material Handling Equipment market
is classified into product type as Conveying Equipment, Industrial Trucks and Lifts, Hoist, Cranes and Monorails and Automated Material Handling Equipment. In addition, the global Material Handling Equipment market is further bifurcated on the basis of end-use industry into Aerospace, Agriculture, Air Cargo, Automotive, Building and Construction, Electrical and Electronic Equipment, Industrial Machinery, Shipping Industry, Warehousing, Postal/Express Delivery and Others.
Furthermore, the Global Material Handling Equipment Market is bifurcated by regions as North America, Asia Pacific, Europe and Rest of the World. Asia Pacific accounts for the largest market share currently in the global material handling equipment market due to the rapid expansion requirements by industries such as automobile, energy, construction, food and beverage, retail and warehousing and others. The region is also expected to continue its dominance in the global material handling equipment market during the forecast period. Followed by Asia Pacific, Europe accounts for the fastest growing region in material handling equipment market during the forecast period. North American region is also analyzed to account for a major market share in the global material handling equipment market during the forecast period.Some of the key players operating in the global Material Handling Equipment market include:
- CLARK Material Handling International (Costa Rica)
- Beumer Mahinenfabrik GmbH (Germany)
- Cargotec Oy (Finland)
- Crown Equipment Corporation (U.S.)
- Columbus McKinnon Corp. (U.S.) among others.