Global Material Handling Equipment Report

Report Overview

The Use of Advanced Material Handling Technologies to Increase Sharply Around the World

Key Themes Covered in this Report:

• North America, Europe, and the Asia/Pacific have Immense Material Handling Equipment Replacement Needs
• Operators will sharply increase their use of AGVs, industrial robots, ASRS, and other advanced machines because of worsening workforce challenges, new regulations, and increasing competition.
• Governments around the world are actively supporting their economies, encouraging technological innovation, and investing in their public infrastructures.

Featuring 129 Tables & 91 Figures!

Global demand for material handling equipment was $196.1 million in 2024, and it is forecast to expand 4.9% per year to $248.6 billion in 2029. Following a decline in 2025 that resulted from a combination of decelerating economic growth, US tariffs, elevated equipment prices, and international conflicts, demand will rebound in 2026 and accelerate through 2029, driven by:

• the expansion of the world manufacturing, mining, construction, agricultural, forestry, energy, logistics, transportation, and e-commerce sectors, and rising sectoral mechanization rates
• intensifying competition, the adoption of new regulations, and the worsening of workforce challenges, which will drive spending on state-of-the-art material handling technologies
• government efforts to support key economic sectors and promote technological innovation

AGVs, Industrial Robots, & ASRS to Capture Market Share

Automated guided vehicles (AGV), industrial robots, and automatic storage and retrieval systems (ASRS) are expected to grow at an above average pace and capture market share going forward. These machines offer productivity and efficiency gains, giving businesses and local economies a competitive edge in the marketplace. They can also be used as a means to mitigate rising labor costs and skilled worker shortages, and can be used to meet government regulations related to workplace conditions. Sales will also be boosted by the increasing introduction of more state-of-the-art and versatile models, which can make them a more enticing option for those who previously invested in earlier generations of this equipment.

More than Half of Market Gains to Be Concentrated the Manufacturing Sector

Industrial applications are expected to account for over half of new material handling sales during the 2024-2029 period as both durable and nondurable goods output grows. New factories will be built around the world and existing production facilities will be upgraded, generating new product demand. Additionally, the use of more technologically-advanced handling equipment – such as automated guided vehicles and industrial robots – in industrial settings will surge through 2029, aided by government and industry initiatives to promote innovation

Global Material Handling Equipment Report Details

Leading Companies Driving Trends in the Machinery & Equipment

Factors Impacting the Global Material Handling Equipment Market

Global material handling equipment market trends are directly impacted by a wide range of factors, including:

• The widespread use of such machines in a diverse range of industries, including agriculture, construction, e-commerce, energy, forestry, manufacturing, mining, tourism, infrastructure, and transportation and logistics.
• Replacement product sales primarily drive growth in most countries that have mature and diverse economies.
• While properly maintained material handling machines have long lifespans, they are sometimes replaced based on the availability of more capable models (offering productivity and efficiency gains) rather than need.
• Approximately two-thirds of all global material handling equipment demand is concentrated in the US, China, Japan, Germany, India, Canada, France, Italy, the UK, and South Korea – all of which are economic powerhouses.

Other factors can have positive or negative impacts on the global material handling equipment market’s growth, including:

• economic conditions, levels of international trade and foreign investment, fixed investment spending trends, and changes in the value of a country’s currency
• rising or declining agricultural, construction, forestry, manufacturing, mining, and tourism activity
• rising or declining energy production
• patterns in government infrastructure spending
• changes in the prices and availability of material handling equipment
• the introduction of new material handling technologies
• the adoption of new product and safety standards and environmental regulations, all of which encourage shifting to newly developed models
• increasing concerns about varieties of workforce issues, ranging from higher labor costs to worker retention to the availability of skilled operators

Countries with developing economies frequently see prolonged periods of growth when operators:

• continue to ramp up production
• benefit from inflows of foreign capital
• begin to use the equipment more intensively
• shift toward more capable, pricier models

Replacement sales are a smaller driver of gains in these markets because their stocks of equipment are quite small and relatively new. However, some of the inexpensive models used in these nations will end up having to be replaced earlier than high-end material handling machinery.

Global Material Handling Equipment Report Scope

This study analyzes the global market for material handling equipment by product, market (i.e., manufacturing, mining, construction, trade and distribution, and other markets), and global region. Historical data for 2014, 2019, and 2024 and forecasts for 2029 and 2034 are provided for material handling equipment demand in current dollars for demand (including for each product and market), shipments, and net exports. Annual data from 2021 to 2028 is provided in the Overview chapter.

Among the products included in this study are:

• forklift trucks, industrial trucks and tractors, hand lifts, and other lifting, loading, and unloading machines
• conveying equipment – which can be unit or bulk handling; and overhead or floor-mounted – including:
  • gravity- or power-driven stationary conveyors
  • belt, chain, slat, and bucket conveyors
  • underflow tow conveyors
  • pneumatic conveyors
• hoists, cranes, and monorails – including hand-, air- or electric motor-powered hoists; top-running single- and double-girder bridge, under-running bridge, gantry, and jib overhead cranes; and nonelectric cranes
• automated storage and retrieval systems
• automated guided vehicles, separately sold material handling software, and material handling robots

Excluded from the scope of the study are:

• aerial work platforms
• elevators
• lift tables
• construction-type cranes (principally mobile and tower cranes), wrecker cranes, and similar items sometimes considered to be material handling equipment
• related services, such as equipment maintenance
• spare parts

Material handling equipment demand is also segmented into:

• manufacturing
• mining
• construction
• distribution
• other markets, including agriculture; airports, marine ports, and rail transportation; education; entertainment establishments; forestry; healthcare; oil and natural gas; sanitation and waste management; tourism; and utilities

Demand for material handling equipment is classified by the primary function of a building if the building includes multiple functions. For example, manufacturing facilities that include some warehousing operations are included in the manufacturing market, while buildings whose primary purpose is warehousing are counted in the distribution market if they include some manufacturing operations.