Feb 15, 2023   SOURCE: BusinessWire

Global Construction Material Handling Machinery Market Outlook to 2027: Featuring Caterpillar, Doosan Infracore, Kobe Steel and Terex Among Others - ResearchAndMarkets.com

The "Global Construction Material Handling Machinery Market Outlook 2027" report has been added to ResearchAndMarkets.com's offering.

According to this report the right combinations of tools in the material handling equipment have attracted construction companies and contractors, bringing in huge investments in the industry, marking a market value of USD 30 billion in the year 2021.

Company Profiles

  • Caterpillar Private Limited
  • Doosan Infracore
  • Epiroc Construction Machinery Co. Ltd
  • Hitachi Construction Machinery Co. Ltd
  • J C Bamford Excavators Ltd
  • Kobe Steel Ltd
  • Komatsu Ltd.
  • Liebherr Group
  • Sany Group
  • Terex Corporation
  • Volvo Construction Equipment
  • XCMG Ltd.
  • Zoomlion Co. Ltd.

The rising need for global production companies to automate operations and foster the 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 sectors, growing consumer spending on non-durable as well as durable products, improvement in fixed investment spending, and a rise in mining activities worldwide.

Growth in the material handling equipment 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 the increasing switch to cleaner battery-powered electric materials handling systems.

Demand for automated guided vehicles and automated conveyors is 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.

Growth can be attributed to the advantageous involvement of these machines on the construction site, which leads to a reduction in the time involved and a reduction in the lead-time. Owing to the need for optimum utilization of resources, the demand for material handling equipment in construction has increased.

The material handling machines are further classified into four categories based on their purpose of use on the construction site. The dump truck machine is powered by its hydraulics feature, which allows the operator to lift and dump the load single-handedly.

The dumpers, or dump trucks, are one of the oldest pieces of machinery in the market and are expected to start losing their share due to the introduction of more compact models and hold more than 40% by 2027. Cranes are commonly known as machinery, and they are preferred due to their easy assembly, flexibility, and ability to access high areas.

Asia-Pacific is the highest contributor in the market, holding a share of more than 30% in the year 2021. The economically developing regions of the Middle East & Africa and Latin America are also to have an increase in their contribution to the material handling market. As many countries in the region are in their developing stages, the need for infrastructural development is at its peak, which is to drive the material handling machinery market in the forecasted period.

The major regions like North America and Europe follow Asia-Pacific in market share. Unlike the trends in Asia Pacific, these regions are likely to have a decrease in their market contribution during the end of the forecasted period. Nevertheless, the need to develop the infrastructure and the demand for more housing units are expected to drive the construction market in the forecasted period, which would support the growth of the material handling machinery market.

North America represents a key market and growth is anticipated to gain from rising awareness regarding worker safety, the need to efficiently manage bulk materials and the emergence of Industry 4.0 with increasing penetration of IoT.

In addition, the requirement to minimize downtime along with a strong focus on making the supply chain more efficient is expected to further drive the adoption of material handling equipment like electric lift trucks. Growth in the European market is attributed to increasing use of automation solutions and significant investments by governments to foster adoption of advanced platforms.

Considered In the Report

  • Geography: Global
  • Base year: 2021
  • Historical year: 2016
  • Estimated year: 2022
  • Forecasted year: 2027

Key Topics Covered:

1. Executive Summary

2. Report Methodology

3. Market Structure

3.1. Market Considerate

3.2. Market Definition

4. Economic /Demographic Snapshot

5. Global Construction Equipment Market Outlook

6. Global Earth Moving Machinery Market Outlook

7. Global Material Handling Machinery Market Outlook

8. Global Concrete and Road Construction Machinery Market Outlook

9. North America Material Handling Machinery Market Outlook

10. Europe Material Handling Machinery Market Outlook

11. Asia-Pacific Material Handling Machinery Market Outlook

12. South America Material Handling Machinery Market Outlook

13. Middle East & Africa Material Handling Machinery Market Outlook

14. Market Dynamics

14.1. Market Drivers

14.2. Market Challenges

15. Market Trends and Developments

16. Company Profiles

17. Strategic Recommendations

18. Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/2recgr

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