According to the research report titled ‘Asia Pacific Material Handling Equipment Market Size By Application, By Product, Hand, Platform & Pallet Trucks, Order Pickers, Pallet Jacks, Side-loaders, Walkie Stackers], Bulk Material Handling Equipment [Conveyor Belts, Stackers, Reclaimers, Elevators], Robotics, Automated Storage & Retrieval System [Unit-load AS/RS, Mini-load AS/RS]), By Type, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026’, available with Market Study Report, Asia Pacific material handling equipment market is poised to record a healthy CAGR through 2026.
 

Shifting preference from semi-automated equipment to fully automated equipment is a major factor driving the Asia Pacific material handling equipment market growth. Moreover, rising penetration of tech driven logistics in the Asian e-commerce industry is propelling the market demand.
 

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Several benefits like real time tracking, faster and effective movement of goods, shorter travel period, minimized labor and inventory levels, reduced need for storage audits, maximization of available floor space, and simplification of inventory management will continue to bolster the adoption of material handling equipment.
 

On the basis of type, the business space is categorized into manufacturers and distributors. Based on product type, the industry is segmented into storage and handling equipment, industrial trucks, bulk material handling equipment, AS/RS and robotics.
 

Asia Pacific material handling industry from storage and handling equipment segment is further divided into racks, shelves, bins, & drawers, stacking frames and mezzanines. The industrial trucks segment is classified into automated guided vehicles (AGVS), order pickers, hand, platform, and & trucks, pallet jacks, walkie stackers and side-loaders. The bulk material handling equipment is classified into conveyor belts, reclaimers, stalkers, elevators, and others.
 

While the AS/RS segment is divided into unit-load AS/RS and mini-load AS/RS. This segment is anticipated to record an increased demand from transport & logistics companies.  Integration of automated hardware and software with AS/RS systems for accurate picking and replenishment of goods are favoring the product adoption.
 

Speaking of the application range, the marketplace is divided into 3PL, general merchandise, e-commerce, food & beverage, food retail, manufacturing, and pharmaceutical/healthcare. Among these, 3PL segment is witnessing an increasing demand to fulfill the demand of the rapidly growing e-commerce industry in the region.
 

Prominent players in the Asia Pacific material handling equipment industry sphere are Siemens AG, Murata Machinery Ltd., Mitsubishi Motors Corporation, Mecalux SA, JBT Corporation, Hyster-Yale Materials Handling Inc., Honeywell Intelligrated, Viastore Systems GmbH, Toyota Industries Corporation, TGW Logistics Group, System Logistics SpA, and Fritz Schäfer GmbH.