Dublin, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The "Material Handling Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Material Handling Equipment Market to Reach US$156 Billion by the Year 2026

The rising need for global production companies to automate operations, and foster flow of goods in an efficient manner is the key force driving the market, at present. Growth in the market is also driven by improving investment in the construction and industrial sector, growing consumer spending on non-durable as well as durable products, improvement in fixed investment spending, and rise in mining activities worldwide.

Growth in the MHE industry is further underpinned by the replacement of antiquated machinery with new automated systems and robotics amid the increasing production shift towards artificial intelligence and Industry 4.0. A notable trend in the industry is increasing switch to cleaner battery-powered electric materials handling systems.

Demand for automated guided vehicles, and automated conveyors are expected to particularly register strong gains through the forthcoming years. Mature industrialized countries in Europe and the US contribute to the bulk of revenues, fueled by healthy replacement demand and the move towards automation and modernization of production processes in key end-use sectors. Amid the COVID-19 crisis, the global market for Material Handling Equipment estimated at US$127.7 Billion in the year 2022, is projected to reach a revised size of US$156 Billion by 2026, growing at a CAGR of 4.7% over the analysis period.

The U.S. Market is Estimated at $33.3 Billion in 2022, While China is Forecast to Reach $27.3 Billion by 2026 The Material Handling Equipment market in the U.S. is estimated at US$33.3 Billion in the year 2022. The country currently accounts for a 26.39% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$27.3 Billion in the year 2026 trailing a CAGR of 6.4% through the analysis period. Hoists & Cranes Segment to Reach $21.7 Billion by 2026 Hoists and Cranes operate in a fixed location and a single work place. The equipment is used primarily to handle heavy loads and find application in areas of construction, shipbuilding and shipping industries. Electric drives are gaining traction in the material handling equipment sector, particularly in the crane and hoists segment. . Select Competitors (Total 463 Featured):

Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE III. MARKET ANALYSIS

For more information about this report visit https://www.researchandmarkets.com/r/k9stq7

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