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Material Handling Equipment is a machine used in the manufacturing process by companies for carrying out various functions such as moving, collecting, storing and disposing of the goods.
This equipment helps to make the process more efficient and effective. These machines have been in use since over 100 years and technology used in these has seen tremendous improvement since its invention. It is a cost effective and error free method which also makes it very attractive for the manufacturing companies.
The following factors are expected to drive the growth in this market:
A full-service forklift and material handling dealership, Advantage Materials Handling Group serves Northern Indiana with equipment sales, servicing, rentals, dock equipment, storage solutions, and more.
Three brands are part of the Advantage Materials Handling Group: BT Battery & Charger Systems, BT Equipment Services & Parts, and Balint/Ryder Handling Equipment. Which will all now function as Wolter.
In a similar way as Wolter, Advantage Materials Handling Group provides its clients with solutions that boost security, boost output, and cut costs.
The business will continue to provide its present products and services after joining Wolter, including but not limited to forklifts, dock equipment, pallet rack systems, conveyors, and more.
However, Wolter’s productivity toolbox, which includes a large selection of secondhand equipment, automation & robotics, cranes & hoists, railcar movers, standby power & generators, forklift training, and workplace storage, will expand the company’s product options with the acquisition.
Additionally, Wolter’s coverage area for Kion North America’s Linde and Baoli brands of electric, gas, and LP forklifts is expanded with the acquisition of Advantage Materials Handling Group.
The company situated in Indiana has just changed its name from Wolter Group to Wolter, joining a unified team of industry professionals dedicated to increasing their customers’ productivity and operational accomplishments under the Wolter moniker.
The crane and lifting equipment has a considerable market share currently and is expected to retain its position as activities related to metal mining are increasing in some countries. Along with this large scale commercial and residential projects where heavy material is required to be lifted, the role of cranes and lifting equipment becomes indispensable.
The automated storage retrieval system is expected to show the highest CAGR. The market for industrial trucks is also expected to grow.
By system type, the following categorization is done:
The unit load material handling system is expected to grow more owing to the fact that it allows many items to be loaded and unloaded together which saves time and cost for the organizations.
The transportation segment is expected to hold the highest market share in the forecasted period 2021-2026. This is due to the increase in the trend of e-commerce.
The main industries where material handling equipment is used are:
During the period 2020-2025, the e-commerce segment is expected to showcase the highest growth owing to the growth of this sector during the pandemic. Material handling equipment is effective in helping in packaging and distribution in the warehouses and therefore, their demand is expected to grow within this segment.
The different regions identified for analyzing the market are:
Region wise, North America had the highest market demand and it is forecasted that in the period 2020-2025 it will retain its prominence. This is due to the growth of the e-commerce industry in this region. Consumer goods are also highly demanded in this region and the companies wish to automate their processes.
The Asia Pacific region is expected to have the highest CAGR as there is a rise of investments in this region to meet the increasing demands of the consumers. In countries such as China, South Korea and Taiwan the technology that is being used is advanced and with rise in their population and national income the need for material handling equipment would also rise.
RECENT TECHNICAL ADVANCEMENT
Automation and robotics: The merging of automation and robotics has transformed material handling. Robotic arms and autonomous mobile robots are utilized for activities including order picking, packing, and palletizing. These robots are capable of navigating challenging areas, collaborating with human workers, and streamlining material flow.
Material handling equipment is increasingly fitted with sensors, allowing for real-time monitoring and data collecting, thanks to the Internet of Things and connectivity. IoT platforms link equipment, enabling remote monitoring, proactive maintenance, and performance enhancement. With this connectedness, productivity is increased, downtime is decreased, and proactive decision-making is possible.
Artificial intelligence and machine learning: To improve material handling procedures, AI and machine learning algorithms are being used. These innovations use data analysis to find patterns, streamline processes, and anticipate equipment faults.
AI-powered solutions can improve resource allocation, route planning, and inventory management, ultimately increasing operational efficiency.
For teaching reasons, remote support, and the depiction of complex procedures, material handling uses augmented reality (AR) and virtual reality (VR) technology. By superimposing digital information over the real world, augmented reality (AR) can give workers instruction in real time. VR simulations allow for realistic equipment operator training scenarios and aid in streamlining workflows.
Advances in sensor technology have made it possible to record data with greater accuracy and dependability. To locate things, gauge distances, and guarantee safety during material handling operations, proximity sensors, vision systems, and 3D scanners are used. Better object recognition, collision avoidance, and precise equipment positioning are all made possible by these sensors.
Advanced Battery Technologies: The performance and effectiveness of electric material handling equipment have been enhanced by the development of advanced battery technologies. Traditional lead-acid batteries are being replaced by lithium-ion batteries because they have better energy density, faster charging times, and longer running times. These batteries help material handling companies become more sustainable and emit less emissions.
The vast amounts of data produced by material handling equipment are being managed and analyzed using cloud-based platforms and data analytics tools. Centralized data storage, real-time data access, and cross-location collaboration are all made possible by cloud computing. Making data-driven decisions and detecting operational bottlenecks are made easier with the use of data analytics.
Cobots, often referred to as collaborative robots, are created to assist human operators in carrying out material handling duties. These robots can interact with people safely because they have built-in safety safeguards. Cobots are utilized to help with jobs like carrying large objects, lessening the physical strain on employees and boosting overall efficiency.
Energy Efficiency and Sustainability: To lower operating costs and their negative effects on the environment, manufacturers of material handling equipment are concentrating on creating energy-efficient solutions. Energy-saving elements including regenerative braking, energy management systems, and idle shutdown modes are now incorporated into equipment designs. Initiatives for sustainability seek to reduce energy use, emissions, and waste production.
There are many small and large players across the globe for material handling equipment. Some of the key companies in this market are:
Some strategies that are being adopted by the key players are mergers and acquisitions along with emphasis on developing improved models.
To deal with the change in environment in the coronavirus pandemic, the manufacturers have come up with the following strategies :
Toyota Industries Corporation announces that it has reached an agreement to buy Bastian Solutions LLC (“Bastian”), a significant North American materials handling systems integrator*1. With the acquisition of Bastian, Toyota Industries has made a full-fledged foray into the North American materials handling solutions market, which is booming thanks to the e-commerce boom.
Toyota Industries continues to strengthen and extend its lift truck and related industries as the world’s No. 1 lift truck producer in terms of worldwide market share. In the field of materials handling solutions, Toyota Industries provides ideal materials handling systems to address each customer’s unique needs.
The company has progressively expanded the creation and operation of warehouse logistics, mostly for domestic logistics centres and other facilities, using its monozukuri-based manufacturing and materials handling skills.
In recent years, the e-commerce business, in which individuals buy goods and services from online stores, has exploded. Customers are needing increasingly sophisticated solutions at logistics locations to manage expanding shipment volumes, deal with diversified packaging, and considerably speed up processing.
The materials handling solutions business in North America is likely to grow sustainably in the future, despite these tendencies.
Bastian is a materials handling systems integrator based in the United States. The company is a leader in combining hardware and software, system development, networking, and maintenance into optimal end-to-end solutions that solve all of its customers’ logistics challenges, and it has superior expertise in developing software to control and manage materials handling systems at logistics centres.
This acquisition allows Toyota Industries to enhance its materials handling solutions business in North America, with Bastian as its hub, and paves the way for future growth through a variety of large-scale projects throughout the Americas.
