North America Material Handling Equipment Market Forecast 2017-2025
KEY FINDINGS The North America material handling equipment market is anticipated to generate a revenue of $44.85 billion by rising at a CAGR of 3.45% over the forecast period of 2017-2025.
MARKET INSIGHTS The market segments include by product and by applications. The products include storage handling equipment, industrial trucks, automated material handling equipment, overhead material handling equipment and others. The industrial trucks can be further categorized into battery-powered counterbalanced trucks, IC engine-powered counterbalanced trucks and warehousing trucks. The automated material handling equipment can be further classified according to the AGVS, AS/RS and conveyor systems, which can be further sub-divided into unit handling conveyor system, bulk material handling conveyor system, etc. The overhead material handling equipment includes hoists, overhead traveling cranes, moving system, and others. The market finds its application in areas such as e-commerce, food retail, 3PL, durable manufacturing, food and beverage, and general merchandise. Although the market is being presented with numerous growth opportunities on account of the rising manufacturing and infrastructural activity, factors like heavy relying on distributors for sales and the occasional technical failures associated with equipment are considerably slowing down the market growth.
COMPETITIVE INSIGHTS Hyster-Yale Materials Handling, Clark Material Handling Company, TGW Logistics Group Gmbh, Columbus Mckinnon Corporation, Crown Equipment Corporation, Kion Group, Cargotec Oyj and Toyota Industries are few of the acclaimed companies in this market.