Impact of Covid-19 Outbreak on Material Handling Equipment Market

23/giu/2020 18:29:26 Automotive Market Research Reports Contatta l'autore

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The development of warehousing facilities around the world is expected to motivate the market for material handling equipment. Reports that deliver insights into the construction industry has been presented by Market Research Future, which creates reports on industry verticals that judge the market progress and options for growth. A CAGR of 7.5% approximately is expected to motivate the market’s progress in the forecast period.

The escalating demand for optimization of resources and raw materials consumption is expected to benefit the material handling equipment market favorably. The innovation in the design and functions of material handling equipment such as heavy-duty material handling carts is expected to motivate the market in the coming years. Also, the integration of automation in material handling systems is foreseen to boost the progress of the market in the future.

Segmental Analysis

The segment-based overview of the material handling equipment market is conducted on the basis of operation, system type, application and region. Based on the operation, the material handling equipment market is segmented into transportation, assembly, packaging, distribution and others. On the basis of system type, the material handling equipment market is segmented into bulk load material handling system and unit load material handling system. Based on the application, the material handling equipment market is segmented into metal & heavy machinery, e-commerce, automotive, food & beverages, others. Based on the region, the material handling equipment market is segmented into North America, Europe, Asia Pacific and other global regions.

Detailed Regional Analysis 

The regional assessment of the material handling equipment market encompasses regions such as North America, Europe, Asia Pacific, and other global regions. The Asia Pacific region is projected to develop considerably in the material handling equipment market. The development of the Asia Pacific regional market in the material handling equipment market can be accredited to the prosperous industrial sector in the region and the safety worries at workplaces, particularly in industries such as metal & heavy industries, automotive and food & beverage.  The material handling equipment is also expected to facilitate the delivery and manufacture of materials chiefly in the e-commerce industry, thus guiding the progress of the material handling equipment market in the region.

Competitive Analysis

The reassessment of the logistics budget is expected to open up avenues of expansion in the upcoming years. The market is anticipated to be motivated by increased investment from various sources. The market is expected to be abreast of the trends that are prevalent in the market, which will aid in the long term growth of the market. Also, the enhanced access to resources from investment leviathans and venture capitalists is anticipated to authorize an encouraging development viewpoint in the market in the forthcoming period. The innovation scale of the product offering is improving at an accelerating rate, which will enable the advancement of the market in the approaching years. The aptness of manufacturing resources is estimated to furthermore replicate, evidently, on the overall growth development of the market.

The strategic contenders in the material handling equipment market are KION Group AG (Germany), Jungheinrich AG (Germany), Eisenmann AG (Germany), Liebherr Group (Switzerland), Viastore Systems GmbH (Germany), Columbus McKinnon Corporation (U.S.), Crown Equipment Corporation (U.S.), Xuzhou Heavy Machinery Co., Ltd. (China) Hytrol Conveyor Co., Inc. (U.S.), and Toyota Industries Corporation (Japan).

Industry Updates:

Dec 2019 BYD India, a holding of the BYD Group, has now entered into the material handling equipment market space in India, making it the first Indian company to deliver MHE products with a lithium-ion phosphate battery in the nation. The company is expected to focus on third-party logistics, warehousing, and logistics companies.

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

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