APAC Material Handling Equipment Market size is poised to reach USD 80 billion by 2027, according to a latest forecast report by Graphical Research.
The growing industrial sector in Asia Pacific aided by government initiatives, will increase the usage of modern material handling equipment. Government administrations in countries including China, India, and South Korea are promoting the use of cutting-edge technology to boost overall economic competitiveness. For instance, in December 2021, China unveiled its five-year plan for robotics and smart manufacturing. By 2025, approximately 70% of the large-scale enterprises in the country would be digitalized. Automation in the manufacturing sector to increase productivity and eliminate defects & delays in processes will drive up material handling equipment demand in high-torque & low-noise applications.
Several Asia Pacific countries implemented stringent lockdowns in 2020, resulting in massive economic losses due to the shutdown of manufacturing plants. These factors, in turn, impacted the demand for material handling equipment in 2020. Countries in Asia Pacific including China, India, and Japan witnessed a considerable demand for material handling equipment in the second half of 2020 from the e-commerce sector owing to the increasing online sales of grocery & essential products. Steady growth in the manufacturing industry development in Asia Pacific is expected to enhance material handling equipment sales in 2022.
There is a growing demand for industrial vehicles that can conveniently and efficiently transport large cargo. The rise in industrialization is increasing the demand for material handling equipment in developing economies such as China and India. Large-capacity & high-load carrying industrial trucks are required to transport heavy parts & equipment from different locations. Companies are adopting electric material handling vehicles that can be easily operated & maintained inside warehouses. They offer several other advantages such as zero-emission, low noise, and better heavy part transportation. The rising demand for industrial trucks in constrained production & manufacturing locations is largely attributed to their widespread deployments.
Browse detailed statistical insights from the report, “Asia Pacific Material Handling Equipment Market Forecast 2027 By Product (Storage & Handling Equipment [Racks, Stacking Frames, Shelves, Bins & Drawers, Mezzanines], Industrial Trucks [Automated Guided Vehicles (AGVs), Hand, Platform & Pallet Trucks, Order Pickers, Pallet Jacks, Side Loaders, Walkie Stackers], Bulk Material Handling Equipment [Conveyor Belts, Stackers, Reclaimers, Elevators], Robotics, Automated Storage & Retrieval System (AS/RS) [Unit-Load AS/RS, Mini-Load AS/RS]), By Application (3PL, E-commerce, Manufacturing [Durable, Non-durable], General Merchandise, Food & Beverage, Food Retail, Pharmaceutical/Healthcare), By Type (Manufacturer, Distributor), Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The increasing penetration of e-commerce platforms in Asia Pacific will boost the adoption of material handling equipment that transport loads across the facility floor without the assistance of a driver or an onboard operator. According to the International Trade Administration, Australia’s e-commerce revenue is predicted to exceed USD 32.3 billion by 2024 with a year-on-year increase of 15.5%. This is encouraging e-commerce companies, such as Amazon, eBay, and Woolworths, to use advanced material handling equipment in their distribution centers for on-time deliveries. The growing popularity of warehouse automation to streamline the process of material handling and maximize uptime will boost the market growth.
The distribution of material handling equipment consists of direct & indirect sales networks. Companies provide their offerings to users with the help of these distribution channels. For effective product availability in the market, manufacturers partner with various distributors & suppliers, leading to an indirect distribution channel network. With the help of a distribution channel, companies can increase their customer reach by covering a large geographical area, thus increasing the customer base. Clearing & Forwarding (C&F) agents play an important role in selling products as they pose a wide range of expertise, thus making the work easier.
The APAC material handling equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:
Asia Pacific Market, By Product
- Storage & handling equipment
- Stacking frames
- Shelves, bins & drawers
- Industrial trucks
- Automated Guided Vehicles (AGVs)
- Hand, platform & pallet trucks
- Order pickers
- Pallet jacks
- Side loaders
- Walkie stackers
- Bulk material handling equipment
- Conveyor belts
- Automate Storage & Retrieval System (AS/RS)
- Unit load AS/RS
- Mini load AS/RS
Asia Pacific Market, By Application
- Food & beverage
- General merchandise
- Food retail
Asia Pacific Market, By Type
The above information has been provided for the following countries:
- Asia Pacific
- South Korea