Asia-Pacific Material Handling Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific material handling equipment market is segmented by Product type (Hardware, Software, and Services), by Autonomy type (Automatic, Manual), by Equipment Type (Robot, Industrial trucks, Conveyor, Others), End-user Vertical (Airport, Automotive, Food and Beverages, Others), and Countries.

Market Snapshot

Asia-Pacific Material Handling Equipment Market_Overview
Study Period: 2018-2027
Base Year: 2021
CAGR: >10 %

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Market Overview

The Asia-Pacific material handling equipment market is expected to register a CAGR of over 10%, during the forecast period (2020 - 2025).

  • Developing countries in Asia, such as India, are investing in material handling equipment significantly. According to the Wisconsin Economic Development Corporation, the Indian market for materials handling equipment (MHE), accounting for about 13% market share of the country’s construction equipment industry, has witnessed significant growth in the recent past.
  • Domestic air transport in China and India is expected to increase four times and six times, respectively. Considering the rapid growth rate of China and India, these countries, along with Japan and Indonesia, are expected to be among the ten largest passenger markets which are expected to impact the market’s growth positively over the forecast period.
  • According to the 2019 Industry Report of MHI, about 65% of supply chain professionals revealed that hiring and retaining a skilled workforce continue to be among the biggest obstacles faced by their businesses. Since millennials are known for placing a high importance on the quality of time-off and the ability to work on top-notch automated projects, automated warehouses are being marked as lucrative sources of employment and advanced learning.

Scope of the Report

The Asia-Pacific material handling equipment market covers the latest trends and technological development and provides analysis on market demand from type, end-user, and country-level analysis as well as the market share of major manufacturing companies across Asia-Pacific.

By Product Type
By Autonomy Type
By Equipment Type
Industrial trucks
By End-user Vertical Type
Food and Beverages
By Country
South Korea
Rest of Asia-Pacific

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Key Market Trends

Electric Material Handling Equipment are Driving the Market

When it comes to material handling trucks the right choice of forklift can improve the overall performance and reduce the operational cost. However, some businesses are turning to electric equipment, as it offers improved efficiency, good battery power, low cost of ownership, low maintenance costs. These electric trucks are equipped with outdoor-friendly pneumatic tires too. This much-needed transformation is driven by the growing interest of customers who are opting for cleaner, higher-capacity trucks that can withstand heavy lifting and perform the same as an IC truck and are environmentally friendly.

Electric trucks are adopted in indoors for quite a few years for light operations. But now electric forklifts are efficiently working outdoors, for various demanding tasks performed by IC trucks. They are now been adopted in tough industries such as recycling centers and construction.

Lithium-ion batteries are becoming a popular option for electric lift trucks batteries as they do not require high-level maintenance as compared to lead-acid, also hydrogen and other gases which are produced by lead-acid are not acceptable in clean food production and storage areas.

According to the Industrial Truck Association’s data, electric and internal combustion truck sales grew at a rate of 2.8% and 2.7%, in 2019, and electric products hold nearly two-thirds of the forklift market.

While many local players in the market are entering into the partnership with other regional players to increase their market presence

In 2020, Toyota Material Handling (TMH), introduced new 3,000- and 3,500-pound capacity electric lift trucks models which are equipped with Toyota-designed AC motors that are built to deliver high performance to boost both productivity and reduce operational cost.

In 2019, BYD which is one of the leaders in LiFePO4 lithium technology has partnered with eForklift for distributing its products in the Australian and New Zealand market.

Whereas in 2019, Encarna invests in Hyundai Material Handling, through this investment Encarna will expand its training portfolio to process with the new CACES (certificate of safe driving skills) training reforms.

key market trend 1

China is anticipated to have the largest share in the market

China has been a prominent contributor to the growth of the material handling equipment market in the Asia-Pacific region. The increasing demand for AMH products across industries, such as manufacturing, automotive, and e-commerce, among others, is boosting the market's growth positively. China has the presence of almost all the market leaders and the ecosystem of China helps in the growth of the market. As various events are being organized with the help of market participants often for showcasing the latest advancements and better business opportunities. For instance

The 2020 Beijing International Intelligent Warehousing and Material Handling Technology Expo (SMTS 2020) would be held on June 9-11, 2020, at the China International Exhibition Center in Beijing. Various new material handling equipment, such as automatic guided truck, handling and conveying system, forklift, trailer, tractor, palletizing robot, and handling robot, among others, are expected to be presented at this event.

While in February 2020, logistics automation specialist, Swisslog, member of the KUKA Group, received an order from IKEA Supply (Malaysia). Located at Pulai Indah, the Distribution Center run by Inter IKEA would be its most significant regional distribution center in the Asia-Pacific region.

key market trend 1

Competitive Landscape

The Asia-Pacific material handling equipment market is fragmented due to the presence of many local players and the increasing presence of global players in the region such as Toyota Material Handling, Daifuku Co., Ltd., XCMG Group and Noblelift Intelligent Equipment Co. Ltd.. Many global players are forming joint ventures with local companies and acquiring them to increase their market presence and diversifying their product portfolio. Also, companies are incorporating the latest features in their material handling equipment to provide the best experience to their customers. For instance,

In 2019, Daifuku Co., Ltd. announced the completion of the acquisition of India-based Vega Conveyors & Automation Private Limited. Vega deals in consulting, designing, manufacturing, and installation of material handling equipment in the Indian market.

In 2020, Toyota Material Handling has announced the launch of more than 190 models that will be available in 2020. Most of the equipment are Class III models. Around 150 were launched in March and the other 40 options will be launched shortly. Toyota's new range includes many features such as bars with power hookups, an operator cooling fan, LED work lights.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 By Product Type

      1. 5.1.1 Hardware

      2. 5.1.2 Software

      3. 5.1.3 Services

    2. 5.2 By Autonomy Type

      1. 5.2.1 Automatic

      2. 5.2.2 Manual

    3. 5.3 By Equipment Type

      1. 5.3.1 Robot

      2. 5.3.2 Industrial trucks

      3. 5.3.3 Conveyor

      4. 5.3.4 Others

    4. 5.4 By End-user Vertical Type

      1. 5.4.1 Airport

      2. 5.4.2 Automotive

      3. 5.4.3 Food and Beverages

      4. 5.4.4 Others

    5. 5.5 By Country

      1. 5.5.1 India

      2. 5.5.2 China

      3. 5.5.3 Japan

      4. 5.5.4 South Korea

      5. 5.5.5 Rest of Asia-Pacific


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 DAIFUKU Co. Ltd.

      2. 6.2.2 Murata Machinery Ltd.

      3. 6.2.3 Toyota Industries Corporation

      4. 6.2.4 Geekplus Technology Co., Ltd.

      5. 6.2.5 Kardex Group

      6. 6.2.6 XCMG Construction Machinery Co., Ltd.

      7. 6.2.7 BEUMER Group

      8. 6.2.8 TGW Logistics Group

      9. 6.2.9 Cargotec corporation

      10. 6.2.10 Siasun Robot & Automation Co. Ltd.

      11. 6.2.11 Noblelift Intelligent Equipment Co. Ltd.


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Frequently Asked Questions

The Asia-Pacific Material Handling Equipment Market market is studied from 2018 - 2026.

The Asia-Pacific Material Handling Equipment Market is growing at a CAGR of >10% over the next 5 years.

DAIFUKU Co. Ltd., Murata Machinery Ltd., Toyota Industries Corporation, XCMG Construction Machinery Co., Ltd., Noblelift Intelligent Equipment Co. Ltd. are the major companies operating in Asia-Pacific Material Handling Equipment Market.

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