Europe Material Handling Equipment Market size crossed USD 35 billion in 2020 and is projected to observe around 6% growth rate from 2021 to 2027.
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The market growth is owing to rising labor costs and labor shortages. According to the Office for National Statistics (ONS), Unit Labor Costs (ULCs) were 7.5% higher in Q2 (April to June) 2021 as compared to Q2 2019. This prompted companies in various industries to invest in automated technology to replace manual labor and save expenses. These products help in cutting down the use of labor forces for fast product transfers. Material handling equipment enable industries to effectively execute a variety of tasks while requiring fewer workers to operate machinery.
Europe Market, By Product
The strong presence of leading automotive manufacturers, such as BMW AG and Mercedes-Benz, is fueling the demand for bulk material handling equipment to enable the fast transfer of large volumes of goods in an industrial facility. In the automotive industry, conveyor belts can be used to move the car down the production line. Conveyor belts can also be utilized to carry components between different portions of the warehouse, allowing objects to be moved more quickly due to their heavy weight. Conveyor belts can be customized to carry different materials. It carries metal sheets for car frames and plastic materials for the interiors, enabling the swift movement of heavy materials.
Europe Market, By Application
The expanding food & beverages segment in Europe is set to spur the advanced material handling equipment demand as these machines operate according to the Food and Drug Administration (FDA) guidelines. High consumption of organic food and energy drinks in countries, such as Germany, France, and Italy, are increasing the demand for food processing. In harsh industrial settings, such as high heat and moisture, food processing companies use efficient material handling equipment for transporting raw materials out of storage and into production and moving packaged products into shipping.
Competitive Industry Landscape
Material handling equipment manufacturers, such as Beumer Group GmbH & Co. KG and KION Group AG, offer their products through a B2C sales channel to cater to different sectors directly without an intermediate sales or distribution network. Products & services are supplied through a widespread network of company-owned sales & services companies and through global partners. Major companies are establishing their regional offices and sales branches in different countries around the world. The direct sales model has a significant degree of control over its pricing & distribution, providing the manufacturers with greater capability to verify the competitive pricing of products and offer maximum profitability.
Prominent participants operating across the Europe material handling equipment market include Beumer Group GmbH & Co. KG, Clark Material Handling Company, Columbus McKinnon Corporation, Crown Equipment Corporation, Daifuku Co., Ltd., Dearborn Mid-West Company, Fives Group, Flexlink AB, Grenzebach Maschinenbau GmbH, Honeywell Intelligrated, Hyster-Yale Materials Handling, Inc., JBT Corporation, Jungheinrich AG, KION Group AG, Knapp AG, Mecalux S.A., Mitsubishi Caterpillar Forklift America Inc., Murata Machinery, Ltd., Siemens AG, SSI Schaefer Group, System Logistics SPA, TGW Logistics Group GmbH, Toyota Industries Corporation, Viastore Systems GmbH, and Witron Logistik + Informatik GmbH.