Material Handling Equipment Market by Operation (Assembly, Transportation), System Type, Application (E-Commerce, Automotive) and Region – Forecast to 2023
PUNE, MAHARASHTRA, INDIA, June 19, 2017 /EINPresswire.com/ — Market Highlights:
Market Research Future published a half Cooked Research Report on Material handling Equipment Market. The Global Material Handling Equipment Market is expected to grow over the CAGR of around 7.5% during the period 2017 to 2023.
The major growth driver of the material handling equipment market is the increasing automation of the production process across all end-user industries such as automotive, and food & beverage. The market is further expected to be driven by the increased adoption of IoT (Internet of Things) among manufacturers. The increased use of the material handling equipment by the end-users such as e-commerce, automotive and other industries, is further expected to drive the market over the forecast period. However, the growth of this market can be restrained by the high cost of acquisition of the material handling equipment.
The key players of Material Handling Equipment Market are Liebherr Group (Switzerland), KION Group AG (Germany), Jungheinrich AG (Germany), Viastore Systems GmbH (Germany), Eisenmann AG (Germany), Columbus McKinnon Corporation (U.S.), Crown Equipment Corporation (U.S.), Hytrol Conveyor Co., Inc. (U.S.), Xuzhou Heavy Machinery Co., Ltd. (China) and Toyota Industries Corporation (Japan).
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Market Research Analysis:
The Asia-Pacific region is expected to grow the fastest in the material handling equipment market, owing to the initiatives undertaken for promoting the establishment of manufacturing industries in the region such as Make in India. The region also has high scope for foreign direct investments, which in turn, is leading to the growth of the material handling equipment market in Asia-Pacific. The growth of the region can also be attributed to factors such as easy availability of low cost labor and the reduced transportation cost.
Scope of the Report:
This study provides an overview of the global material handling equipment market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
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The scope of the study segments the Global Material Handling Equipment Market by its operations, system type, application and region.
• By Operation:
• By System Type:
o Unit Load Material Handling System
o Bulk Load Material Handling System
• By Application:
o Food & Beverages
o Metal & Heavy Machinery
• By Region:
o North America
o Asia Pacific
o Rest of the World
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Source: EIN Presswire