US Material Handling Equipment Market Size Likely to Reach at a CAGR of 7.89% By 2033

According to current market research conducted by the CMI Team, the global US Material Handling Equipment Market size is expected to record a CAGR of 7.89% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 42.37 Billion. By 2033, the valuation is anticipated to reach USD 83.92 Billion.

US Material Handling Equipment Market: Growth Factors and Dynamics

• Increased Customer Demand for Custom Solutions: Companies increasingly require individualized material handling solutions specifically to meet their operations’ needs. In response, manufacturers produce many configurable products, from size and capacity to automated versions, fueling invention and creating more adaptive solutions.

• Increased Durability and Shelf Life: New breakthroughs in materials and advances in manufacturing techniques are producing higher durability and shelf life results. Thus, businesses will be lured to such equipment manufactured for longer service periods and less maintenance. The return on investment, therefore, is optimized, coupled with reduced downtime.

• Increasing Importance of Safety Norms: Safety is now an issue at the workplace, thus compelling them to seek the best quality products that abide by safety standards. These features are a part of modern designs but are very specific, depending on which field their work is applied in and the emphasis given to their safety.

• Smart Equipment Solutions: The pace of smart equipment with sensors, IoT technology, and real-time data analytics is picking up. These innovations allow for predictive maintenance and optimize performance. Large-scale operations can use these to improve operational efficiency, which can emerge from data-based decision-making processes.

• Technology Advancement: Automation, robotics, and artificial intelligence are revolutionizing the material handling equipment market. Autonomous forklifts, smart conveyors, and AI-driven warehouse management systems increase efficiency, accuracy, and safety to address the rising demand for smooth logistics operations.

• E-commerce growth: The massive growth of e-commerce is one of the major driving factors for the increasing demand for AS/RS, conveyors, and other material handling solutions. High-volume, scalable equipment and adopting fast and reliable delivery models further accelerate the growth.

US Material Handling Equipment Market: New Launches

• In August 2024, Kalmar Corporation announced a deal with the Italian maker of giant heavy-duty material handling equipment CES Srl to sell and maintain CES reach stackers over 125 tons around the globe. The contract also entails Kalmar training its customers on CES products. Until now, Kalmar’s heaviest reach stacker could lift 125 tons, but this cooperation has allowed them to provide even larger machines per customer preferences.

• In June 2024, Toyota Material Handling started building a new 295,000-square-foot factory in Columbus, Indiana. The company, which makes material handling gear and solutions, will put $100 million into the project, creating 85 new jobs in the area. The plant will make electric forklifts. To support the project, the Indiana Economic Development Corporation will give Toyota Material Handling up to $1.1 million in conditional tax credits and up to $200,000 to train workers. Columbus has also promised to offer more perks. In the past 34 years, Toyota Material Handling has spent over $400 million on 15 growth projects in the state.

• In February 2024, Big Lift LLC announced the completion of its acquisition of ePicker LLC. Big Lift currently distributes Big Joe Forklifts, which are well known for their innovative products and exemplary aftermarket support.

Report Scope

US Material Handling Equipment Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the US Material Handling Equipment Market, with effects that have been both disruptive and transformative. Key impacts include:

• Changing Patterns in Demand: Because of the pandemic, demand has changed greatly in some sectors – those that depend on cold chains, such as the food and beverage industry, pharmaceuticals, and health services – and this change applies to specific industries. After a lockdown, consumers showed low spending levels, whereas chain breaks forced cold storage and transport services demand to fluctuate.

• Market Restraints and Policy Changes: The pandemic shifted the regulatory structure of the US material handling equipment market. In any situation where safety standards and regulations change, the market is severely constrained. The pandemic caused fierce economic uncertainty, which created problems like enhanced operational costs, traffic congestion on supply chains, reduced labor in the market, and so on, which ended up stifling market growth and productivity.

• Operational Challenges: New health protocols in material handling and transportation facility implementation added further difficulties, eventually leading to higher operating costs incurred by material handling equipment companies.

• Business Strategies Adopted, including Innovations: Many firms also concentrate on innovation by developing new technology that is superior to the rest in features that increase efficiency. Some examples are real-time tracking systems and energy-efficient refrigeration solutions.

In conclusion, the COVID-19 pandemic has brought challenges and opportunities to the US Material Handling Equipment Market, prompting a shift towards innovation, automation, and sustainability as companies adapt to a changing industrial landscape.

List of the prominent players in the US Material Handling Equipment Market:

• Caterpillar Inc.
• Toyota Industries Corporation
• KION Group AG
• Hyster-Yale Materials Handling Inc.
• Mitsubishi Logisnext Co. Ltd.
• Crown Equipment Corporation
• Jungheinrich AG
• Doosan Industrial Vehicle America Corp.
• Raymond Corporation (a subsidiary of Toyota Industries Corporation)
• Yale Materials Handling Corporation (part of Hyster-Yale Group)
• Komatsu Ltd.
• Clark Material Handling Company
• Godrej & Boyce Mfg. Co. Ltd.
• UniCarriers Americas Corporation (part of Mitsubishi Logisnext)
• Anhui Heli Co. Ltd.
• Others

The US Material Handling Equipment Market is segmented as follows:

By Equipment Type

• Forklifts
• Conveyors and Sortation Systems
• Automated Storage and Retrieval Systems (AS/RS)
• Pallet Jacks and Pallet Trucks
• Cranes
• Automated Guided Vehicles (AGVs)
• Robots

By System Type

• Automated Material Handling Systems
• Semi-Automated Material Handling Systems
• Manual Material Handling Systems

By Component

• Hardware
• Software
• Services