Market Share of Asia-Pacific Material Handling Equipment Industry
The Asia-Pacific material handling equipment market is fragmented due to the presence of many local players and the increasing presence of global players in the region such as Toyota Material Handling, Daifuku Co., Ltd., XCMG Group and Noblelift Intelligent Equipment Co. Ltd.. Many global players are forming joint ventures with local companies and acquiring them to increase their market presence and diversifying their product portfolio. Also, companies are incorporating the latest features in their material handling equipment to provide the best experience to their customers. For instance,
In 2019, Daifuku Co., Ltd. announced the completion of the acquisition of India-based Vega Conveyors & Automation Private Limited. Vega deals in consulting, designing, manufacturing, and installation of material handling equipment in the Indian market.
In 2020, Toyota Material Handling has announced the launch of more than 190 models that will be available in 2020. Most of the equipment are Class III models. Around 150 were launched in March and the other 40 options will be launched shortly. Toyota's new range includes many features such as bars with power hookups, an operator cooling fan, LED work lights.
Asia Pacific Material Handling Equipment Market Leaders
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DAIFUKU Co. Ltd.
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Murata Machinery Ltd.
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Toyota Industries Corporation
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XCMG Construction Machinery Co., Ltd.
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Noblelift Intelligent Equipment Co. Ltd.
*Disclaimer: Major Players sorted in no particular order
