Asia-Pacific Material Handling Equipment Market Size (2024 - 2029)

The Asia-Pacific material handling equipment market is experiencing significant growth, driven by substantial investments in developing countries like India. The market's expansion is further supported by the increasing demand in domestic air transport within China and India, which is expected to enhance the market's scale. Additionally, the challenge of hiring and retaining a skilled workforce in the supply chain sector is prompting a shift towards automated warehouses, which are becoming attractive for employment and advanced learning opportunities, thereby contributing to the market's growth trajectory.

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Market Size of Asia-Pacific Material Handling Equipment Industry

Asia Pacific Material Handling Equipment Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 10.00 %
Market Concentration Medium

Major Players

Asia Pacific Material Handling Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

Asia Pacific Material Handling Equipment Market Analysis

The Asia-Pacific material handling equipment market is expected to register a CAGR of over 10%, during the forecast period (2020 - 2025).

  • Developing countries in Asia, such as India, are investing in material handling equipment significantly. According to the Wisconsin Economic Development Corporation, the Indian market for materials handling equipment (MHE), accounting for about 13% market share of the country's construction equipment industry, has witnessed significant growth in the recent past.
  • Domestic air transport in China and India is expected to increase four times and six times, respectively. Considering the rapid growth rate of China and India, these countries, along with Japan and Indonesia, are expected to be among the ten largest passenger markets which are expected to impact the market's growth positively over the forecast period.
  • According to the 2019 Industry Report of MHI, about 65% of supply chain professionals revealed that hiring and retaining a skilled workforce continue to be among the biggest obstacles faced by their businesses. Since millennials are known for placing a high importance on the quality of time-off and the ability to work on top-notch automated projects, automated warehouses are being marked as lucrative sources of employment and advanced learning.

Asia Pacific Material Handling Equipment Industry Segmentation

The Asia-Pacific material handling equipment market covers the latest trends and technological development and provides analysis on market demand from type, end-user, and country-level analysis as well as the market share of major manufacturing companies across Asia-Pacific.

By Product Type
Hardware
Software
Services
By Autonomy Type
Automatic
Manual
By Equipment Type
Robot
Industrial trucks
Conveyor
Others
By End-user Vertical Type
Airport
Automotive
Food and Beverages
Others
By Country
India
China
Japan
South Korea
Rest of Asia-Pacific
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Asia-Pacific Material Handling Equipment Market Size Summary

The Asia-Pacific material handling equipment market is experiencing significant growth, driven by substantial investments in developing countries like India and the increasing demand for automated material handling solutions. The market is characterized by a shift towards electric equipment, which offers enhanced efficiency, reduced operational costs, and environmental benefits. Electric forklifts, previously limited to indoor use, are now being adopted for outdoor operations in demanding industries such as recycling and construction. The adoption of lithium-ion batteries is on the rise due to their low maintenance requirements and suitability for clean environments. The market is also witnessing a trend of partnerships and acquisitions among local and global players, aiming to expand market presence and diversify product offerings.

China plays a pivotal role in the growth of the Asia-Pacific material handling equipment market, with a strong demand across sectors like manufacturing, automotive, and e-commerce. The presence of major market leaders and supportive ecosystem in China further bolsters market expansion. Events such as the Beijing International Intelligent Warehousing and Material Handling Technology Expo showcase the latest advancements in the industry. The market is fragmented, with numerous local players and the entry of global companies like Toyota Material Handling and Daifuku Co., Ltd. These companies are forming joint ventures and acquiring local firms to enhance their market presence. The introduction of advanced features in material handling equipment is also a key focus, as companies strive to offer superior customer experiences.

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Asia-Pacific Material Handling Equipment Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product Type

      1. 2.1.1 Hardware

      2. 2.1.2 Software

      3. 2.1.3 Services

    2. 2.2 By Autonomy Type

      1. 2.2.1 Automatic

      2. 2.2.2 Manual

    3. 2.3 By Equipment Type

      1. 2.3.1 Robot

      2. 2.3.2 Industrial trucks

      3. 2.3.3 Conveyor

      4. 2.3.4 Others

    4. 2.4 By End-user Vertical Type

      1. 2.4.1 Airport

      2. 2.4.2 Automotive

      3. 2.4.3 Food and Beverages

      4. 2.4.4 Others

    5. 2.5 By Country

      1. 2.5.1 India

      2. 2.5.2 China

      3. 2.5.3 Japan

      4. 2.5.4 South Korea

      5. 2.5.5 Rest of Asia-Pacific

Asia-Pacific Material Handling Equipment Market Size FAQs

The Asia-Pacific Material Handling Equipment Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)

DAIFUKU Co. Ltd., Murata Machinery Ltd., Toyota Industries Corporation, XCMG Construction Machinery Co., Ltd. and Noblelift Intelligent Equipment Co. Ltd. are the major companies operating in the Asia-Pacific Material Handling Equipment Market.

Asia Pacific Material Handling Equipment Market Report Snapshots

Asia Pacific Material Handling Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)