US Material Handling Equipment Market 2024–2033

Reports Description

According to current market research conducted by the CMI Team, the global US Material Handling Equipment Market 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.

Dynamic and evolving quickly, driven by technical improvement, the U.S. Material Handling Equipment market has many changes. This contains an assortment of devices composed of forklifts, conveyors, automated storage and retrieval systems, and robots to improve handling processes concerning materials in industries. The main trends shaping this space include automation and robotization, energy efficiency with a sustainability focus on solutions, and an increased level of e-commerce and distribution channels.

US Material Handling Equipment Market – Significant Growth Factors

• Economic Growth and Urbanization: Fuelled by economic growth and urbanization, ever-expanding industrial and commercial sectors are creating huge demand for material handling equipment. Areas in development raise the requirement for the proper equipment to move, stock, and store products in warehouses and distribution centers while raising the need for strong, high-capacity solutions to increase productivity.

• 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.

• Healthcare and Pharmaceutical Sector Expansion: An increasing healthcare and pharmaceutical industry also requires specific material handling equipment. Health and pharmaceutical sectors have machinery that should be sanitary to transport expensive and sensitive materials such as drugs and other medical apparatuses safely.

• Ergonomic Design Developments: The focus now is to improve the ergonomics of the design so that it can maximize operators’ comfort and security. Innovations in adjusting controls, having a good view, and minimal vibrations enhance working conditions, diminish fatigue, and decrease the chances of workplace injury.

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

• Increased Durability and Shelf Life: With new breakthroughs in materials and advances in manufacturing techniques, higher durability and shelf life results are being produced. Thus, businesses will be lured to such equipment manufactured for longer periods of service 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.

US Material Handling Equipment Market – New Acquisitions and Expansions

The US Material Handling Equipment Market saw several New Expansions in recent years, which include:

• 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 as 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 produce 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.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

US Material Handling Equipment Market – Significant Threats

The U.S. Material Handling Equipment Market has a few huge threats that will hurt its future growth and profitability. Such threats are as follows:

• Technological Obsolescence: Automation, robotics, and smart technologies advance at a lightning pace that may make existing material handling equipment obsolete. Manufacturers should invest in R&D, which is cost-intensive and challenging, to upgrade the product lines with new technologies.

• Supply Chain Interruptions: Global issues in the supply chain will include component shortages, delayed logistics, or geopolitical unrest. Such can increase the cost of production and delay the handling of materials by equipment required for production. The interruptions then lead to a lack of materials in inventory that may create a shortage, impacting the level of demand customers have in the market. A healthy supply chain, therefore.

• Regulatory Barriers: Higher safety and environmental compliance may require manufacturers to incur extra costs to meet the new certification requirements. These would also limit product features or require significant changes in production, impacting innovation and competitive advantage in the marketplace.

• Pandemic: The pandemic caused by COVID-19 has seriously impacted the industrial activities of many sectors. These activities’ effects are seen through postponed and canceled projects and, thus, low spending on material handling equipment. This is still on the rebound, and with disruptions and uncertainties remaining, it will impact growth and stability.

Category-Wise Insights

By Equipment Type:

• Forklifts: Forklifts facilitate material handling in industrial and commercial settings. There are several types of forklifts, including electric forklifts, which are best suited for indoor operations due to their minimal hazardous gas emissions and minimal noise; internal combustion engine forklifts, which best fit outdoor applications with heavy-duty usages, primarily because it has great power and strength, and those forklifts which have been designed for uneven terrains and outdoor applications. Every type of forklift is unique to an intended application, which means efficient and safe material handling in every work environment.

• Conveyors and Sortation Systems: Conveyors and sortation systems are a part of the automation of the moving and sorting goods within warehouses and manufacturing plants. Belt conveyors are especially suited for long-distance transports with continuous flow materials, while roller conveyors are appropriate for transferring heavier items or boxes. Overhead conveyors are designed to be used in compact material handling in manufacturing processes, and vertical conveyors are mostly for the transportation of merchandise across varied heights. The ability to sort automatically rouses the product to a set destination based on pre-arranged parameters, which makes the attainment of efficiency in volumes of operations possible.

• Automated Storage and Retrieval Systems (AS/RS): AS/RS refers to the latest technologies used to ensure automatic storage and retrieval of products in warehousing. The unit load of an AS/RS can handle large and heavy loads, while mini load systems are designed for smaller products and high-density storage. VLM offers a vertical solution that will save space. Carousel uses rotating shelves to bring stock to the operator within less time. All these systems enhance the level of inventory management, retrieval time, and overall efficiency of a warehouse.

• Pallet Jacks and Pallet Trucks: The pallet jacks and pallet trucks serve as critically important equipment used in the warehouse and even distribution centers for moving pallets of merchandise. For instance, you may use the hand pallet jacks, manually operated by pumping the handle to lift the pallet. On the other hand, you can use electric pallet trucks, which work on electric power and raise the pallet to move it, thereby reducing the effort and efficiency. These tools are very important for transporting products in different settings, from a retail store to an industrial warehouse.

• Cranes: A crane is a lifting device that can be made to lift heavy materials and machinery. Overhead cranes are often found at factories or warehouses. They consist of overhead running tracks mounted on the ceiling to move loads over a wide area. Gantry cranes are almost like overhead cranes but run along the ground on wheels or tracks. These are great outdoor uses. Jib cranes provide a rotating arm that extends horizontally for work on moving and lifting materials. Tower cranes are used in construction and provide high lifting height and long reach to work on very tall buildings.

• AGVs: AGVs are automated and computer-controlled vehicles that move material from one place to another within buildings without any human assistance. Towing AGV systems pull carts or trailers with goods loaded into them. Unit load carriers are designed to carry specific types of loads, and pallet trucks carry pallets. Many other forms of AGVs can handle various materials, reducing the operation’s potential injuries and efficiency loss in material handling. AGVs are on an upsurge in warehouses and manufacturing facilities to enhance material movement and reduce labor costs.

• Robots: Material-handling robots include industrial robots, collaborative robots (cobots), and mobile robots. Industrial robots are used for pick operations such as picking, packing, and assembly. Such robots can work with high precision and speed. Collaborative robots work with human operators and minimize rigidity and danger in several processes. Mobile robots like autonomous mobile robots navigate through facilities to transport goods and provide dynamic solutions in warehouse and logistics operations, enhancing efficiency and accuracy in material handling operations.

By System Type:

• Automated Material Handling Systems: Automated material handling systems include AS/RS, AGVs, conveyors and robots to mechanize the movement, sorting and storage of goods. They increase operational effectiveness by eliminating the need for manual labour, improving precision and making the most of available space. Automated systems are commonly deployed in warehouses, distribution depots and buildings for smooth and effective operations.

• Semi-Automated Material Handling Systems: Semi-automated systems blend manual operation and automation to increase efficiency and convenience. Examples are automated forklifts, which make it easy for the operators to lift and shift loads, and pallet jacks, which have elementary automated controls. In such systems, the degree of manual effort can be adjusted without compromising the gains from automation.

• Manual Material Handling Systems: Manual material handling systems are the simplest and most common ones that employ basic machines operated manually. These include common forklifts, hand trucks, or manual pallet jacks. Indeed, more work is required to engage in these systems than in the automated solution; however, such systems are cheaper and have great applicability in small-scale operations or in areas where automation cannot be fully implemented.

By Component:

• Hardware: The hardware in material handling encompasses fabrication and construction factors, including machinery and tools, motors and sensors, and conveyors. These material handling components make the work done effective by enabling motion, lifting, and controlling the satellite materials. Hardware is vital in ensuring the handling processes and the workings of the equipment are efficient and effective, considering the performance and reliability of the equipment.

• Software: Software components involve warehouse management systems (WMS), warehouse control systems (WCS) and robotics software. WMS are important in reinforcing order management, tracking materials in and between sites and utilizing warehouses. WCS guarantees the effective operation of interaction and control over material equipment. Robotics software performs tasks associated with programming and controlling robots that efficiently undertake complicated operations.

• Services: Services associated with the material handling equipment include installation, servicing, training, and consultancy. Installation services enable the systems to be configured correctly and integrated into existing systems. Maintenance services ensure the system upholds proper working conditions and reduces the chances of failure. Training services initiate the operators and staff on the proper use of the equipment while consulting services state up procedures in the program and optimization of material handling.

Report Scope

Competitive Landscape – US Material Handling Equipment Market

The US Material Handling Equipment Market is highly competitive, with many manufacturers and retailers operating globally. Some of the key players in the market include:

• 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

These companies function in the market through various means, such as product innovation, mergers and acquisitions, and partnerships.

New entrants use innovations and developments to get their hold in the market. To achieve this, they focus on product innovation, diversification, the introduction of technologically advanced products, and a friendly Manual. There are eco-friendly options, as some brands opt for natural products, including sustainable materials and energy consumption during manufacturing processes, which most environmentally conscious consumers are opting for.

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