Latin America Material Handling Equipment Market Size & Outlook
Latin America material handling equipment market, 2018-2030 (US$B)
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Latin America material handling equipment market highlights
- The Latin America material handling equipment market generated a revenue of USD 16.0 billion in 2023.
- The market is expected to grow at a CAGR of 6.1% from 2024 to 2030.
- In terms of segment, continuous handling 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 16.0 billion |
| Market revenue in 2030 | USD 24.2 billion |
| Growth rate | 6.1% (CAGR from 2023 to 2030) |
| Largest segment | Continuous handling 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, Latin America region accounted for 6.8% 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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Latin America 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.
Continuous handling equipment was the largest segment with a revenue share of 38.13% in 2023. Horizon Databook has segmented the Latin America 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.
According to the IMF World Economic Outlook, the GDP growth rate of Latin America was 5.9% in 2021, which can be attributed to the global loss of income and declining tourism activities on account of COVID-19. However, it is anticipated that the GDP growth rate will fall to 2.9% in 2022. The material handling equipment market in Latin America is majorly driven by increasing investments in various end-use industries such as durable manufacturing, automotive, and food & beverage industries.
The food & beverage industry is one of the region's most important economic contributors. Brazil is the biggest exporter of frozen food and meat products in Latin America, whereas Argentina is the major exporter of packaged and processed foods.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America material handling equipment market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America material handling equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America material handling equipment market size, by country, 2018-2030 (US$B)
Latin America Material Handling Equipment Market Outlook Share, 2023 & 2030 (US$B)
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