Asia Pacific Material Handling Equipment Market Expected at $75 bn by 2026

August 14, 2021 12:05 pm

According to a recent study, Asia Pacific material handling equipment market size is poised to expand at substantial CAGR during the forecast period.

With tech-driven logistics powering the Asian e-commerce industry, the demand for efficient material handling equipment has been witnessing an uptick. The manufacturing, warehousing, and distribution of products and materials requires diverse equipment and storage systems, ranging from conveyor belt systems to automated guided vehicles (AGVs).

Some of the major industries that have been deploying latest material handling equipment include manufacturing, construction, food & beverage, automotive, medical & pharmaceutical, consumer goods, aerospace, and retail. In terms of end-user, 3PL industry has been exhibiting an expanding demand across Asia Pacific material handling equipment market, in the wake of the escalating demand for e-commerce fulfilment.

With the growing labour costs, third party logistics companies are seeking to upgrade their inventory management using cutting-edge technologies. These companies, including Deutsche Post DHL and FedEx, have been integrating flexible warehouse designs to offer accurate and on-time product deliveries.

The widespread use of industrial trucks has been pushing Asia Pacific material handling equipment industry forecast. Forklifts, self-propelled industrial trucks, driverless industrial trucks, manual and semi-manual trucks are leveraged within warehouses and production units.

Asia Pacific material handling equipment market size is expected to gain from the shifting preference from semi-automated equipment to fully automated equipment. As such, the automated storage & retrieval system (AS/RS) segment is expected to register notable demand from transport & logistics companies. These systems are integrated with automated hardware and software for precise picking and replenishment of goods.

AS/RS systems enable a faster and effective way of moving goods across industrial facilities leveraging vertical and horizontal storage carousels. By minimising the wasted travel time across widely placed racking and several trips down the storage aisles, these systems allow adjustment of racking to save on space and time, accelerating APAC material handling equipment market forecast. Loads of all sizes can be transported automatically between drop-off and retrieval locations, whereby forklifts or other equipment pick them up.