Published Date: 2022-05-17
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North American Material Handling Equipment Market size is estimated to cross USD 40 billion by 2027, according to a latest forecast report by Graphical Research.
Rising labor costs and workforce retention issues in several countries have propelled the market growth. According to the Society for Human Resource Management (SHRM), labor costs in the U.S. increased by 1.3% in the third quarter of 2021. Manual material transportation procedures are time-consuming and prone to mistakes. By automating multiple operations, material handling equipment can decrease the need for human intervention in industrial facilities. A growing number of industries including food & beverage, pharmaceutical, and e-commerce are replacing traditional manufacturing methods with semi-automated equipment.
The ongoing COVID-19 pandemic had moderately impacted the material handling equipment industry demand in 2020. Several companies experienced a revenue decline in the first half of 2020 due to supply chain disruptions. With relaxations on pandemic-related restrictions in the second half of 2020 coupled with the resumption of industrial activities, the global supply chains were streamlined. The market witnessed a sudden rise in automation in industrial activities in 2021, increasing the demand for material handling equipment that facilitates the fast transfer of large volumes of heavy products.
Increasing technological innovations and the adoption of automation in manufacturing activities in North America will support the market expansion. For instance, in February 2021, Next Generation Manufacturing Canada (NGen) contributed to the funding of a private sector collaboration led by MDA. The goal is to integrate Artificial Intelligence (AI), Industry 4.0, data sharing, and collaborative robotics into highly adaptive industrial settings. Such initiatives will promote the usage of robots that can perform powerful, swift, and precise actions that are needed in the automobile and packaging industries. Robots are used to pick & place and for workpiece positioning applications in industrial environments at higher speeds.
Browse detailed statistical insights from the report, “North America Material Handling Equipment Market Forecast 2027 By Application (3PL, E-commerce, Manufacturing [Durable, Non-durable], General Merchandise, Food & Beverage, Food Retail, Pharmaceutical/Healthcare), 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 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 presence of large food retail chains, such as Kroger, Walmart Inc., and Costco Wholesale Corporation, is spurring the market size as it makes stocking and inventory efficient. Material handling equipment optimize the operational sequence and layout for shelves, racks & cabins in the warehouses. It streamlines the operations by effectively arranging the products. These machines are also used in micro-fulfillment centers to facilitate speedy product deliveries and higher customer satisfaction. Material handling equipment optimizes warehouse space, increases throughput, and improves warehouse operations so that products can be delivered to retail outlets.
The material handling equipment industry share from distributor is increasing in North America owing to better logistics facilities. Authorized distributors have access to exclusive material handling equipment with cutting-edge technology. Material handling equipment manufacturers collaborate with both online and offline distributors to resolve customer issues after the sale. Manufacturers maintain long-term partnerships with regional and global distribution partners to deliver optimum material handling equipment. Distributors are provided with dedicated sales, marketing, and technical support to ensure the smooth operation of after-sale services. Manufacturers have various distributors in every region to ensure optimum product availability for customers.
The North American 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:
North America Market, By Product
North America Market, By Application
North America Market, By Type
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