Dublin, July 10, 2024 (GLOBE NEWSWIRE) — The “United States Material Handling Market – Forecasts from 2024 to 2029” report has been added to ResearchAndMarkets.com’s offering.
The United States material handling market is expected to grow at a CAGR of4.65%, reaching a market size ofUS$25.008 billionin 2029 fromUS$18.192 billion in 2022
The growth of private investments in machinery and industrial equipment indicates an overall strong U.S. economy, which is regarded to encourage some activity when it comes down to the U.S. industry’s largest downstream markets such as that of wholesaling and manufacturing.
Following such growths in private investments, the U.S. market is expected to witness a growth in the demand for industrial products which includes material handling equipment. Moreover, increased worker safety awareness along with the rising requirements for the management of bulk materials effectively and the rise in the industry with greater Internet of things use are a few factors that will allow the United States material handling market to develop faster.
Increasing e-commerce and logistics industries
On another note, the e-commerce industry is resulting in the manufacturers and industrial sectors in becoming more visible because of the feature of customization. The e-commerce industry is flourishing worldwide, which necessitates a lot of automation as well. Large-scale retailers such as Amazon, Walmart, and others are gradually on the rise of introducing automated technology into their operations in order to make it more efficient, precise, cost-effective, and even secure.
Additionally, the improvements happening in the manufacturing industry are also regarded to be a major factor for the developing market of material handling equipment. Moreover, customization is considered to be at an all-time high with respect to online shopping. Mining equipment and customization systems are becoming common while assisting the growth of the industry
The AGV segment holds a significant share of the market
AGVs (Automated guided vehicles) are being highly adopted due to several benefits, such as reduced labour costs, lower product damage, increased productivity, and scale to support the processes of automation. These notable advantages have been encouraging various firms to deploy AGVs in order to accelerate the efficiency of their operations, thus driving growth in the market in this region.
Further, the strong economy, with considerable port traffic, rising e-commerce activity, and key manufacturing indices, have resulted in significant growth in manufacturing, thus, driving the demand for automated solutions across the logistics sector in the country, which is consequently expected to drive the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 165 |
| Forecast Period | 2022 – 2029 |
| Estimated Market Value (USD) in 2022 | $18.19 Billion |
| Forecasted Market Value (USD) by 2029 | $25.01 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | United States |
Companies Featured
- Beumer Group
- Murata Machinery USA Inc.
- Daifuku North America Holding Company
- Remstar AG (Kardex Group)
- JBT Corporation
- Honeywell Intelligrated
- Toyota Advanced Logistics (Bastian Solutions, Llc)
- KION Group (Dematic)
- Crown Equipment Corporation
- Toyota Industries Corporation
- NACCO Industries (Hyster-Yale Material Handling)
Segmentation:
By Product
- Automated Guided Vehicles
- Automated Storage and Retrieval Systems
- Trucks and Lifts
- Cranes & Hoists
- Conveyor System
- Others
By Application
- Warehousing and Distribution
- Airport Baggage Handling
- Bulk Handling
- Postal and Parcel Delivery
- Assembly
- Packaging
By Industry Vertical
- Manufacturing
- Healthcare
- Chemical
- Paper
- Food and Beverage
- Warehousing
- Others
By States
- California
- Texas
- Ohio
- Illinois
- Pennsylvania
- Others
For more information about this report visit https://www.researchandmarkets.com/r/td0vc5
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