Asia Pacific Material Handling Equipment Market Size & Outlook
Asia Pacific material handling equipment market, 2018-2030 (US$B)
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Asia Pacific material handling equipment market highlights
- The Asia Pacific material handling equipment market generated a revenue of USD 85.3 billion in 2023.
- The market is expected to grow at a CAGR of 6.4% from 2024 to 2030.
- In terms of segment, cranes & lifting equipment was the largest revenue generating product in 2023.
- Racking & Storage Equipment is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 85.3 billion |
| Market revenue in 2030 | USD 131.6 billion |
| Growth rate | 6.4% (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 |
| Key market players worldwide | Daifuku Co Ltd, Honeywell International Inc, KION GROUP AG, Murata Manufacturing Co Ltd, SSI Schaefer Systems International North America, Swisslog, Toyota Industries Corp, BEUMER Group, Interlake Mecalux, Vanderlande |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 36.1% of the global material handling equipment market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 131.6 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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Asia Pacific 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 55.45% in 2023. Horizon Databook has segmented the Asia Pacific 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.
Asia Pacific has a strong automotive industry, owing to which, material handling equipment (MHE) manufacturers are offering customized solutions in the region. For instance, innovative automotive vehicles are being introduced by a number of top automakers, including TOYOTA MOTOR CORPORATION, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., and MITSUBISHI MOTORS CORPORATION.
Industrial robots with expanded arms and larger payload capacities handle the spot welding of large car body panels. Thus, the presence of a large automotive industry in this region is expected to drive the market for material handling equipment.
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Target buyers of Asia Pacific 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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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific material handling equipment market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific material handling equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific material handling equipment market size, by country, 2018-2030 (US$B)
Asia Pacific Material Handling Equipment Market Outlook Share, 2023 & 2030 (US$B)
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