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Market Overview:
The Material Handling Technology Market size is estimated to reach $213.35 Billion by 2030, growing at a CAGR of 5.7% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Material Handling Technology Market – By Technology (Manual, Semi-Automated and Fully Automated), By Equipment Type (Conveyors & Sortation Systems, Storage & Handling Equipment, Industrial Trucks & Lifts, Automated Guided Vehicles (AGVs) & Robots and Others), By End Use Industry (Manufacturing, Retail & E-commerce, Food & Beverage, Healthcare, Construction and Others), and By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”
Increasing adoption of robotics, AI, and IoT in manufacturing and logistics enhances efficiency in material handling processes. Additionally, the growing ecommerce industry increases the demand for large-scale warehousing which boosts the need for advanced material handling equipment. Moreover, the growing workforce shortages and focus on reducing workplace injuries also drive the market.
North America Dominated the Market in 2023:
In 2023, North America held the largest share of 38% in the Material Handling Technology market. The U.S. dominates the material handling technology market on account of its flourishing e-commerce sector and adoption of automation technology which drives the market in North America. As per BuiltWith, the United States is home to more than 13 million of the 26.2 million e-commerce websites globally. Automation is critical in handling high volumes of orders efficiently and accurately. According to data from the U.S. Census Bureau, e-commerce accounted for 15.6% of total retail sales in the U.S. by the end of 2023. North American companies are increasingly investing in automated warehousing, robotics and AI based logistics solutions to support this growing sector to streamline operations, increase speed and increase accuracy.
Material Handling Technology Market: Key Takeaways
Growing Focus on Prevention of Workplace Injuries
A strong focus on reducing workplace injuries is a significant driver for the adoption of material handling equipment. By automating and mechanizing manual tasks, businesses can minimize the risk of accidents such as strains, sprains and back injuries that often result from lifting heavy loads, repetitive motions and poor ergonomics. According to the CDC, workers’ compensation costs for an average lost time injury for a shoulder is $20,000 and for back $25,000. Material handling equipment including forklifts, conveyors and robotic systems can significantly reduce the physical strain on workers, leading to a safer and healthier work environment. Additionally, these technologies can improve productivity and efficiency, further reducing the potential for accidents.
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Flourishing E-Commerce Industry
The exponential growth of the e-commerce industry has significantly driven the adoption of material handling technologies. As per the International Trade Association (ITA), global B2C e-commerce revenue will reach $5.3 trillion by 2027. With increasing consumer demand for faster delivery and seamless order fulfillment, warehouses and distribution centers are under pressure to enhance operational efficiency. Technologies like automated storage and retrieval systems (AS/RS), conveyors, and robotics streamline inventory management and order picking processes. E-commerce giants are investing in modernizing logistics and warehouse automation to meet rising order volumes and reduce delivery times.
Scope of the Report:
Recent Developments:
• In November 2024, ZAPI GROUP announced the acquisition of UBIQUICOM. This enhances the OEMs' access to robust automation solutions that drive safety and efficiency in material handling and manufacturing operations.
• In June 2024, ChargePoint Technology, a powder and liquid transfer specialist, launched a new robotic material handling solution aimed at increasing safety and efficiency in solid dosage drug manufacturing.
• In June 2024, Toyota Material Handling announced plans to expand its headquarters, in Indiana by investing nearly $100M for a new 295,000-square-foot manufacturing facility dedicated to the production of electric products.
Material Handling Technology Market: Competitive Landscape
Key companies profiled in the Material Handling Technology Market are Toyota Industries Corporation, KION Group AG, Jungheinrich AG, Crown Equipment Corporation, Hyster-Yale Materials Handling, Inc., Mitsubishi Logisnext Co., Ltd., Caterpillar Inc., Daifuku Co., Ltd., Komatsu Ltd., Liebherr Group
Related Reports:
Autonomous Forklift Market -The Autonomous Forklift Market size is estimated to reach US$11 billion by 2030, growing at a CAGR of 13.6% during the forecast period 2024-2030. The growing adoption of automation, rapid growth of e-commerce and the adoption of industry 4.0 is driving the demand for Autonomous Forklift from end users.
Automated Storage & Retrieval Systems Market - Automated Storage & Retrieval Systems Market size is estimated to reach $13.62 billion by 2030, growing at a CAGR of 6.0% during the forecast period 2024-2030. The growth of the semiconductor and electronics industry has spurred the demand for AS/RS
Warehouse Robotics Market - The Warehouse Robotics Market size is projected to reach US$6.2 billion by 2030, growing at a CAGR of 12% from 2024 to 2030 driven the integration of cutting-edge technologies like Artificial Intelligence (AI), machine learning, and the Industrial Internet of Things (IIoT).
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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