Asia-Pacific Material Handling Equipment Market, By Component (Lle ((Light Lifting Equipment) Includes (Workstation Lifting Systems, Modular Cranes, Manual Chain Blocks, Electric Chain Hoists, Jib Cranes, Light Crane Systems (KBK)), CTO ((Configured-To-Order Cranes) Includes Industrial Cranes, Universal Cranes, Standard Electric Overhead Traveling Cranes), PNC (It Includes Engineered-To-Order Cranes (ETO), Nuclear Cranes, Process Cranes, Process Duty Electric Overhead Traveling Cranes), BMU (Building Maintenance Units), Car Parking System, Dock Levelers, Lift Trucks (Above 10 Tons and Below 10 Tons), Port Solutions, and Services, Country (China, Japan, South Korea, India, Australia, Singapore, Indonesia, Thailand, Malaysia, Philippines, Rest Of Asia-Pacific) Industry Trends and Forecast to 2028.
The Asia-Pacific material handling equipment market is expected to gain strong market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.9% in the forecast period of 2021 to 2028 and is expected to reach EURO 55,625.39 million by 2028. The increasing adoption of digital technologies in business operations is augmenting segment growth.
The material handling equipment facilitates the movement, storage, and control of products and materials throughout the warehousing, manufacturing, distribution, consumption, and disposal processes. These machines enable the fast movement of heavy materials and large volumes of goods efficiently. The material handling equipment reduces the need for human intervention in industrial facilities by automating several processes. These generally include LLE, CTO, PNC, lift trucks, and port solutions. Material handling equipment is utilized in the manufacturing, packaging, shipping, and distribution industries. It is divided into four categories: positioning equipment, transport equipment, unit load formation equipment, and storage equipment. The items and materials must be sorted in order, so a sortation conveyor system is one of the industry's most effective pieces of equipment.
A car parking system is a technology that regulates parking to reduce the amount of space necessary for parking. It produces multi-story parking structures that increase parking places while lowering the area needed for parking lots. A dock leveler is an equipment used to bridge the gap between the loading vehicle and the dock or warehouse floor. A dock leveler has a metal plate called a lip that can be either hinged or telescopic. They are operated either hydraulically or manually. It is extensively used in a warehouse where loading and unloading work is done.
The increasing investment in infrastructure and construction industry and development of autonomous services system is the major driving factor in the market. The higher initial cost of adoption of material handling equipment and lack of skills can prove to be a challenge. However, technology advancement in material handling equipment and growth in demand for lifting operations in ports can prove an opportunity. The high level of training and lack of established infrastructure can be a restraint for adopting the material handling equipment market and also the challenges faced due to the impact of COVID-19 on the supply chain of the raw materials.
The material handling equipment market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
The material handling equipment market is segmented based on component. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the Asia-Pacific material handling equipment market has been segmented into LLE ((light lifting equipment) includes (workstation lifting systems, modular cranes, manual chain blocks, electric chain hoists, jib cranes, light crane systems (KBK)), CTO ((configured-to-order cranes) includes industrial cranes, universal cranes, standard electric overhead traveling cranes), PNC (it includes engineered-to-order cranes (ETO), nuclear cranes, process cranes, process duty electric overhead traveling cranes), BMU (Building Maintenance Units), car parking system, dock levelers, lift trucks (above 10 tons and below 10 tons), port solutions, and services. Increased demand for real estate, construction machinery are the reasons for the increase in demand for the market.
The material handling equipment market is analyzed, and market size information is provided by the network, provider, organization size, and application. On the basis of country, the market is segmented into Japan, China, South Korea, India, Australia, Hong Kong, Singapore, Thailand, Malaysia, Indonesia, Philippines, and the Rest of Asia-Pacific.
China dominates the Asia-Pacific region, followed by Japan and India for the material handling equipment market as supporting infrastructure development. The increasing digitalization in businesses and the rise of infrastructure are driving the growth of the market. China's country is dominating the market due to strong infrastructure availability industrial and acceptance for advanced technology in material handling equipment.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
An Increase in Real Estate is boosting the Demand of the market in the Forecast Period
The material handling equipment market also provides you with a detailed market analysis for every country's growth in material handling equipment sales. The growth of real estate in the fracture is boosting the market growth. The data is available for the historical period 2010 to 2019.
Competitive Landscape and Asia-Pacific Material Handling Equipment Market Share Analysis
Asia-Pacific material handling equipment market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points are only related to the companies’ focus on the material handling equipment market.
Some of the major players operating in the material handling equipment market are Alimak Group AB, Acme International Holdings Limited, XSPlatforms, GEDA Original, ROSTEK OY, IHI Corporation, PARI, Wohr Parking Systems Pvt. Ltd., Mutrade Industrial Corp., GG LIFTERS TECH, DAYANG PARKING CO., LTD., RR Parkon, Eilbeck Cranes, Weihua Group, ABUS Kransysteme GmbH, Mazzella Companies, Sumitomo Heavy Industries, Ltd., ASSA ABLOY, RITE-HITE, Hörmann Group, Blue Giant, Maini Materials Movement Pvt. Ltd., Reva Industries India Pvt. Ltd., LOADMATE, ELECTROMECH MATERIAL HANDLING SYSTEMS (INDIA) PVT. LTD., STAHL Crane Systems GmbH, MITSUBISHI, Doosan Industrial Vehicle, TOYOTA INDUSTRIES CORPORATION, Crown Equipment Corporation, Jungheinrich AG, GORBEL INC., GH CRANES & COMPONENTS, Zoomlion Heavy Industry Science& Technology Co., Ltd., The Manitowoc Company Inc., Shanghai Zhenhua Heavy Industries Co., Ltd. (ZPMC), MPH Cranes (Far-East) Pte Ltd, Konecranes, LIEBHERR, SANY Group among others.
Many product launches initiated by companies worldwide are accelerating the growth of the material handling equipment market.
- In July 2021, DAYANG PARKING CO., LTD introduced the stereo garages in the Reading square, which is located in the old downtown area of Sihong County, covering an area of about 11000 square meters. The three-dimensional intelligent garage of the reading square funded by China Design Group has become the biggest highlight of this transformation, providing a convenient and comfortable parking area for the original noisy Square Park, and creating a good environment for citizens' leisure, entertainment, and parking
New product development, partnership, and other strategies by the market players are enhancing the company's presence in the material handling equipment market, which also benefits the organization to improve their offering for material handling equipment.
Customization Available: Asia-Pacific Material Handling Equipment Market
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