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Material Handling Equipment Market - Future Growth Prospects and Demand Forecast to 2025

Author : Ronak Bora | Published Date : 2020-09-16 

The Latin America material handling equipment market is expected to witness high growth in the coming years owing to the rise in industrialization and the growing manufacturing sector in the region. Manufacturing industries are increasingly adopting advanced material handling solutions for enhancing and ensuring productivity, resulting in the overall economic development of the region. The industrial sector in the region is witnessing fast growth with an increasing number of companies implementing robots and automated solutions for material handling. The expanding construction sector of the region will lead to an increased demand for performance material handling solutions.

Material Handling Equipment Market is expected to exceed USD 200 billion by 2025. Improving industrial sector and enhancing productivity in developing economies will drive market growth over the forecast timespan.

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Some major findings in the material handling equipment market report include:

  • Rise in automated manufacturing activities coupled with the need for improving productivity in industrial facilities will augment the market demand. Companies are widely adopting advanced technologies, such as big data analytics and IoT in logistics, to manage operational requirements, which is changing the way several businesses handle their operations.
  • In October 2018, XPO Logistics, Inc., a provider of transportation and logistics services announced to deploy 5,000 robots in its warehouses and distribution centers in North America, the UK, and several other countries in Europe.
  • The growing competitive nature of businesses has led to the increased adoption of advanced technologies, aiding business processes pertaining to food & beverage, 3PL, food retail, general merchandise, and other similar industries.

The growing demand for automation from SMEs will propel the material handling equipment market growth. SMEs operating in the food & beverages, 3PL, food retail, and general merchandise industries are experiencing intense competition and need to sustain growth in the marketplace. The presence of government initiatives, such as financial support, in the form of reduced duties and tax benefits allowed SMEs to gain a foothold in the market. Automated machines and systems provide efficient work operations and monetary benefits to SMEs by saving huge amounts of labor employment costs. These companies are highly deploying material handling machines and automatic systems over human labor owing to cost savings and high efficiency compared to the traditional processes.

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Demand for bulk material handling equipment is witnessing high demand in the material handling equipment market owing to the growing need to transport and control large volumes of material. The equipment handles & supports infrastructure and provides a vital bridge that ensures rapid & efficient delivery. The demand for AS/RS material handling equipment is increasing in manufacturing plants, warehouses, and distribution centers for order picking. These systems retrieve finished goods from manufacturing plants for transportation to warehouses and distribution centers. AS/RS retrieves the required goods for order fulfillment, encouraging industries to adopt the equipment over the manual order picking process to reduce labor costs and ensure efficient order fulfillment.

The material handling equipment market is expected to witness high demand from the general merchandise application segment. These solutions help to fulfill the definite application demands of the warehousing and distribution industry, such as order assembly by store planogram, multichannel in one facility, seasonal/promotional peaks, e-commerce order fulfillment, returns processing, inventory velocity, and configurations for retail store replenishment, resulting in increasing their demands. Moreover, companies are providing the equipment to specific industries including large global corporations and small specialty product companies, supporting various distribution requirements.

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Key players operating in the material handling equipment market are Daifuku Co., Ltd., Columbus McKinnon, Kion Group AG, Dematic GmbH & Co., Hyster-Yale Materials Handling, Inc., JBT Corporation, Intelligrated, Inc., Flexlink, and KUKA AG. Players are focusing on introducing differentiated and advanced products to remain competitive in the market.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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