Global Material Handling Equipment Market Size & Outlook
Global material handling equipment market, 2018-2030 (US$B)
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Global material handling equipment market highlights
- The global material handling equipment market generated a revenue of USD 236.3 billion in 2023 and is expected to reach USD 350.2 billion by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 5.8% by 2030.
- In terms of segment, cranes & lifting equipment accounted for a revenue of USD 89.5 billion in 2023.
- Racking & Storage Equipment is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 236.3 billion |
| Market revenue in 2030 | USD 350.2 billion |
| Growth rate | 5.8% (CAGR from 2023 to 2030) |
| Largest segment | Cranes & lifting equipment |
| Fastest growing segment | Racking & Storage Equipment |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Cranes & Lifting Equipment, Industrial Trucks, Continuous Handling Equipment, Racking & Storage Equipment |
Other key industry trends
- In terms of revenue, the North America accounted for 21.6% of the global material handling equipment market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Canada is the fastest growing regional market and is projected to reach USD 8.2 billion by 2030.
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Material Handling Equipment Market Scope
Material Handling Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global material handling equipment market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to material handling equipment market will help companies and investors design strategic landscapes.
Cranes & lifting equipment was the largest segment with a revenue share of 37.88% in 2023. Horizon Databook has segmented the Global material handling equipment market based on cranes & lifting equipment, industrial trucks, continuous handling equipment, racking & storage equipment covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Material Handling Equipment Product Outlook (Revenue, USD Billion, 2018-2030)
- Cranes & Lifting Equipment
- Industrial Trucks
- Continuous Handling Equipment
- Racking & Storage Equipment
- Global Material Handling Equipment Application Outlook (Revenue, USD Billion, 2018-2030)
- Automotive
- Food & Beverages
- Chemical
- Semiconductor & Electronics
- E-commerce
- Aviation
- Pharmaceutical
- Others
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Target buyers of Global material handling equipment market databook
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Our clientele includes a mix of material handling equipment market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global material handling equipment market , including forecasts for subscribers. This global databook contains high-level insights into Global material handling equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global material handling equipment market size, by regions, 2018-2030 (US$B)
Top 10 countries: Material handling equipment market size, 2023 (US$B)
Global material handling equipment market share, by product, 2023 & 2030 (%, US$B)
Material handling equipment market: Opportunity assessment by country
Global material handling equipment market, by region, 2023 (US$B)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 48.3 | 48.5 | 44.3 | 46.4 | 48.7 | 51.1 | 53.7 | 56.5 | 59.6 | 62.8 | 66.3 | 70.1 | 74.2 | 5.5% |
| Europe | 71.2 | 69.8 | 63.9 | 67.0 | 70.1 | 73.4 | 77.0 | 80.9 | 85.0 | 89.4 | 94.2 | 99.4 | 105.0 | 5.2% |
| Asia Pacific | 70.0 | 78.3 | 72.1 | 76.1 | 80.5 | 85.3 | 90.4 | 96.0 | 102.0 | 108.5 | 115.6 | 123.3 | 131.6 | 6.4% |
| Latin America | 14.7 | 14.9 | 13.7 | 14.4 | 15.2 | 16.0 | 16.9 | 17.9 | 19.0 | 20.2 | 21.4 | 22.8 | 24.2 | 6.1% |
| MEA | 9.8 | 9.8 | 9.0 | 9.4 | 9.9 | 10.5 | 11.0 | 11.6 | 12.3 | 12.9 | 13.7 | 14.4 | 15.2 | 5.5% |
| Overall | 213.9 | 221.2 | 203.0 | 213.3 | 224.4 | 236.3 | 249.1 | 262.9 | 277.8 | 293.9 | 311.2 | 329.9 | 350.2 | 5.8% |
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