Asia Pacific (APAC) Material Handling Market - Forecasts from 2024 to 2029

Asia Pacific (APAC) Material Handling Market - Forecasts from 2024 to 2029

The Asia Pacific material handling market is expected to grow at a CAGR of 7.17%, reaching a market size of US$130.879 billion in 2029 from US$92.570 billion in 2024.

Material Handling talks about the movement, protection, storage and control of materials of distinct kinds and sizes. The process includes storage, shipment, packaging, assembly, handling, and distribution of products. Most of the stuff we use in one way or the other every day without consciously taking note of how it came into existence has once passed through this industrial process.

The industrialization and increase in infrastructural development in the Asia Pacific region are anticipated to boost the market of material handling in the coming years. The expansion of the manufacturing sector in emerging economies such as India and China involves high adoption of market handling solutions which can propel its market in years to come. For instance, technological development in these economies is one of the key factors responsible for the growth of the market and the impact of artificial intelligence on the material handling industry. Rampant use of the internet and smartphones is also likely to fuel demand for these solutions in the coming years.

Asia Pacific Material Handling Market Drivers:


Rapid Industrialization to provide a boost to Asia Pacific Material Handling Market:

The growth of the material handling market in the Asia Pacific is largely attributed to rapid industrialization and infrastructural development. Given this, industries have been compelled to come up with means of handling huge amounts of production; hence there is an urgent need for machines that handle them. On an IMF scale, Asian has the world’s fastest developing area with an average GDP growth rate of 5.3% in Asia which is projected to rise up to 5.4% by 2024 (IMF). The upcoming projects in the sector besides infrastructure such as Lloyd’s Asia renewable energy consortium, and the Mumbai-Ahmedabad bullet train among others are highly dependent on infrastructural expansion whose impact similarly affects the material handling sector.

Asia Pacific Material Handling Market Geographical Outlook

China is expected to grow rapidly during the forecast period.

The Asia Pacific area's AMH market has grown significantly thanks in large part to China. The market is expanding favorably as a result of the rising demand for AMH products in various industries, including manufacturing, automotive, and e-commerce.

China follows an industrial policy and has a large population. Regarding purchasing power parity, the nation emerged as the global leader in exports, imports, and trade during the past ten years. The nation is currently transitioning from an economy driven by manufacturing and construction to one driven by consumers. The government's attempt to move the industries up to the medium-high end of the global value chain and support multiple clusters of advanced manufacturing is reflected in the ten-year plan, unveiled in May 2015. China is predicted to reduce manufacturing costs by 30% by 2025 due to the country's adoption of automation. The one-child policy and an aging workforce compound the shortage of skilled labor, necessitating the easing of job activities to maintain productivity at work.

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Report Coverage:

Historical data & forecasts from 2022 to 2029
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

Key Market Segmentation:

Asia Pacific Material Handling Market is segmented and analyzed as below:

By Product

Automated Guided Vehicles
Automated Storage and Retrieval Systems
Trucks and Lifts
Cranes
Conveyor System
Hoists
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 Geography

China
India
Japan
Taiwan
Australia
South Korea
Others