Global Material Handling Equipment Market to Reach US$199.9 Billion by 2030

The global market for Material Handling Equipment estimated at US$138.3 Billion in the year 2023, is expected to reach US$199.9 Billion by 2030, growing at a CAGR of 5.4% over the analysis period 2023-2030. Third-Party Logistics, one of the segments analyzed in the report, is expected to record a 5.7% CAGR and reach US$47.6 Billion by the end of the analysis period. Growth in the eCommerce & General Merchandise segment is estimated at 6.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$34.7 Billion While China is Forecast to Grow at 7.2% CAGR

The Material Handling Equipment market in the U.S. is estimated at US$34.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$36.1 Billion by the year 2030 trailing a CAGR of 7.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.7% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.

Global Material Handling Equipment Market - Key Trends and Drivers Summarized

Material Handling Equipment (MHE) encompasses a broad range of tools and machinery used for moving, storing, controlling, and protecting materials and goods throughout the manufacturing, warehousing, distribution, consumption, and disposal processes. This category includes equipment such as conveyors, forklifts, pallet jacks, cranes, hoists, automated guided vehicles (AGVs), and storage systems like racking and shelving units. MHE is essential for improving efficiency, safety, and productivity in various industries, including manufacturing, logistics, retail, and construction. These tools help in minimizing human labor, reducing operational costs, and enhancing workflow accuracy and speed.

The material handling equipment market has witnessed significant advancements over the years, driven by the increasing adoption of automation and technological innovations. Modern MHE incorporates advanced technologies such as robotics, artificial intelligence (AI), and the Internet of Things (IoT), enabling seamless integration with automated systems and enhancing operational efficiency. For instance, automated storage and retrieval systems (AS/RS) and robotic order-picking systems are now commonplace in large distribution centers and warehouses, facilitating faster and more accurate handling of goods. The use of AGVs and drones for material transportation and inventory management is also on the rise, further reducing the need for manual intervention and improving overall productivity.

The growth in the material handling equipment market is driven by several factors. The rapid expansion of the e-commerce industry is a primary driver, as online retailers require efficient and scalable logistics solutions to handle the increased volume of goods. Technological advancements, such as the development of more sophisticated and reliable automated systems, have made MHE more attractive to a wide range of industries. The growing focus on workplace safety and the need to comply with stringent regulatory standards have also spurred demand for advanced MHE that reduces the risk of accidents and injuries. Additionally, the push for greater efficiency and cost reduction in supply chain operations has led businesses to invest in modern material handling solutions that streamline processes and enhance productivity. Consumer behavior trends, such as the increasing demand for faster delivery times and real-time tracking of goods, are further fueling the adoption of advanced MHE.