United States Material Handling Market - Forecasts from 2024 to 2029

United States Material Handling Market - Forecasts from 2024 to 2029

The United States material handling market is expected to grow at a CAGR of 4.52%, reaching a market size of US$24.870 billion in 2029 from US$18.192 billion in 2024.

The growth of private investments in machinery and industrial equipment indicates an overall strong U.S. economy. It 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 United States 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 United States material handling market to develop faster.

The expansion of private investment in machinery and industrial equipment is a sign of a robust US economy overall, which is anticipated to boost activity in the main downstream markets for US industry, including manufacturing and wholesale. Therefore, a rise in the demand for industry products like material handling equipment is probably going to be correlated with an increase in investment in industrial machinery and equipment. The market is anticipated to grow more quickly as a result of growing industry 4.0 and increased use of the Internet of Things, as well as increased worker safety awareness and growing requirements for bulk material management. Improvements in supply chain efficiency and the growing need to minimize downtime are anticipated to propel this product's market.

The United States Material Handling Market Drivers:

Increasing e-commerce and logistics industries

On another note, the e-commerce industry is resulting in the manufacturers and industrial sectors becoming more visible because of the feature of customization. The e-commerce industry is booming worldwide, and at the same time automation comes in. Amazon, Walmart, and other big retailers. They are adopting automated technology to realize the efficiency, accuracy, cost-effectiveness, and safety of their operations. Additionally, the improvements happening in the manufacturing industry are also regarded to be a major factor for the developing market of United States material handling equipment. Moreover, customization is considered to be at an all-time high concerning online shopping. Mining equipment and customization systems are becoming common while assisting the industry’s growth.
Increasing use of Automated guided vehicles

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 to accelerate the efficiency of their operations, thus driving the regional market growth. Further, the strong economy, with considerable port traffic, rising e-commerce activity, and key manufacturing indices, have resulted in significant growth in manufacturing. This drives the demand for automated solutions across the logistics sector in the country, which is consequently expected to drive the market.

The United States Material Handling Market Restraint:

High initial investment

Automated handling equipment is a perfect fit for the fast-paced logistics and e-commerce industry of today, which demands automation. However, the market expansion is being hampered by the high initial cost of integrating United States material handling equipment across warehouses for procurement, installation, and packaging, which entails sophisticated accessories, programming, and other services. Companies, particularly small and medium-sized businesses, are limited by this. Most enterprises require assistance in raising large sums of money because they produce low volumes and the returns on investment come in late. Another challenge that hampers the improvement of the worldwide market is the high maintenance costs. High costs are associated with the software upgrades needed to test and train the automated system to achieve proficiency with few accidents on the shop floor.

The United States Material Handling Market Developments:

In May 2023, three new electric forklift models were introduced by Toyota United States United States material handling (TMH), the industry leader in United States United States material handling innovation, expanding its already impressive portfolio of United States United States material handling products and services. A Side-Entry End Rider, a Center Rider Stacker, and an Industrial Tow Tractor are among the new electric products being introduced. These products give customers unprecedented efficiency, versatility, and best-in-class performance while putting operator comfort first. This product has an ergonomic control handle with multiple functions that allow the operator to pick and place loads while facing forward and maintaining a clear line of sight. Operators will also experience best-in-class turning radius and speed reduction during turns, making it simpler to transport loads when cornering and suitable for a variety of applications.
In October 2022, Big Joe Forklifts, a United States material handling equipment manufacturer based in Wisconsin, opened an autonomous equipment division to offer straightforward, reasonably priced robotic forklift solutions with a quick payback period. The move is a reaction to the rising demand for robotic United States material handling systems that can handle labour issues and other operational problems in manufacturing and warehouse settings.

Key Market Segmentation:

The United States material handling market is segmented and analyzed as below:

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
Warehousing and Distribution
Healthcare
Warehousing and Distribution
Chemical
Warehousing and Distribution
Paper
Warehousing and Distribution
Food and Beverage
Warehousing and Distribution
Warehousing
Warehousing and Distribution
Others
Warehousing and Distribution

By States

California
Texas
Ohio
Illinois
Pennsylvania
Others