North America Material Handling Equipment Market Size & Outlook
North America material handling equipment market, 2018-2030 (US$B)
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North America material handling equipment market highlights
- The North America material handling equipment market generated a revenue of USD 51.1 billion in 2023.
- The market is expected to grow at a CAGR of 5.5% 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, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 51.1 billion |
| Market revenue in 2030 | USD 74.2 billion |
| Growth rate | 5.5% (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, North America region accounted for 21.6% 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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North 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 38.16% in 2023. Horizon Databook has segmented the North 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 International Monetary Fund (IMF) World Economic Outlook, the GDP growth rate of North America was 5.6% in 2021 on account of robust consumer spending in the face of elevated price pressures. The region is characterized by substantial growth owing to the increasing sales in the e-commerce industry. Increasing demand for both durable and nondurable items is further driving manufacturing firms to invest in expensive assembly lines and other machinery.
With the gradual resumption of production activity in the second half of 2020, the e-commerce industry regained traction. The increased adoption of e-commerce technologies created a considerable demand for modern material handling equipment in warehouses in 2021, prompting companies to offer high-quality products. The market expansion is anticipated to be aided by the rising need for automated warehousing operations in the region.
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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 continent-level data and insights on the North America material handling equipment market , including forecasts for subscribers. This continent databook contains high-level insights into North America material handling equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America material handling equipment market size, by country, 2018-2030 (US$B)
North America Material Handling Equipment Market Outlook Share, 2023 & 2030 (US$B)
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