Increase in e-commerce and logistics will drive growth, with AGVs accounting for a large share

US Material Handling Market

Dublin, July 10, 2024 (GLOBE NEWSWIRE) — The “U.S. Material Handling Market – Forecast to 2024 to 2029” report has been added. ResearchAndMarkets.com Recruitment.

The U.S. material handling market is expected to reach USD 25,080 million by 2029 from USD 18,192 million in 2022, growing at a CAGR of 4.65%.

Increased private investment in machinery and industrial equipment is a sign of an overall strong U.S. economy and is expected to spur some activity in the largest downstream markets for U.S. industry, such as wholesale and manufacturing.

With this growth in private investments, the US market is expected to see a rise in the demand for industrial products, including material handling equipment. Furthermore, growing safety awareness among workers, rising demand for efficient management of bulk materials, and industry growth due to the growing use of IoT are some of the factors enabling the rapid development of the US material handling market.

Rise in e-commerce and logistics industry

The e-commerce industry is also giving a boost to the manufacturing and industrial sectors, thanks to its customization capabilities. As the e-commerce industry is thriving across the globe, it is also necessitating a lot of automation. Large retailers like Amazon, Walmart, etc. are gradually introducing automation technologies into their operations to make them more efficient, accurate, cost-effective, and even secure.

Moreover, improvements taking place in the manufacturing industry are also believed to be a major factor in the growth of the material handling equipment market. Moreover, customization is believed to be at an all-time high when it comes to online shopping. Mining equipment and customized systems are becoming more commonplace, aiding in the growth of the industry.

The AGV segment holds a large share of the market

Automated guided vehicles (AGVs) are widely adopted owing to the various benefits they offer, such as reduced labor costs, reduced product damage, increased productivity, and scale that supports automated processes. These notable benefits have prompted various businesses to adopt AGVs to accelerate operational efficiency, thus fueling the market growth in this region.

Moreover, a booming economy with increased port traffic, rising e-commerce activities, and key manufacturing indicators are expected to drive the manufacturing industry at a significant rate, thereby increasing the demand for automation solutions across the logistics sector in the country, thereby driving the market.

The story continues

Key attributes:

Featured Companies

• Viewmar Group

• Murata Machinery USA, Inc.

• Daifuku North America Holdings

• Remster AG (Caldex Group)

• JBT Corporation

• Honeywell Integrated

• Toyota Advanced Logistics (Bastian Solutions LLC)

• KION Group (Dematic)

• Crown Equipment Corporation

• Toyota Industries Corporation

• NACCO Industries (Hyster-Yale Material Handling)

segmentation:

By product

By Application

By Industry

• Manufacturing

• health care

• chemicals

• paper

• Food and Beverage

• Warehouse storage

• others

By State

• California

• Texas

• Ohio

• Illinois

• Pennsylvania

• others

For more information on this report, please visit: https://www.researchandmarkets.com/r/td0vc5

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