Lithium-ion Technology Is Emerging As A Material Handling Market Trend

Material Handling Market Report 2021: COVID 19 Impact And Recovery To 2030

Material Handling Global Market Report 2021: COVID 19 Impact And Recovery To 2030

The Business Research Company’s Material Handling Global Market Report 2021: COVID-19 Impact and Recovery to 2030

LONDON, GREATER LONDON, UK, February 17, 2021 / — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact:

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Lithium-ion technology is an emerging trend in the material handling market. Li-ion batteries are environmentally friendly and offer higher energy densities as compared to lead-acid or nickel-metal hydride batteries. They can store more electricity and is mostly preferred for electric vehicles that are used in material handling. Additionally, Lithium-ion batteries are lightweight, charge quickly, and do not require cool-down intervals. For instance, Flux Power Holdings, Inc., a prime developer of advanced Li-ion batteries launched the LiFT Pack L48 Li-ion battery pack at MODEX 2020. The battery is specifically designed for 3-wheel forklifts which are used in narrow aisle and high-performance warehouses. The battery offers high capacity and also requires minimum maintenance.

As per TBRC’s material handling industry overview, the major players with material handling market shares are Toyota Industries Corporation, Daifuku Co. Ltd., Beumer Group, Liebherr Group, Dematic Group, Jungheinrich AG, Columbus McKinnon Corporation, Eisenmann AG, Crown Equipment Corporation, Schaefer Systems International Pvt Ltd, Hyster-Yale-Materials Handling, Viastore Systems, Hytrol Conveyor Co, Carolina Material Handling Services, EMH.

The global material handling market size is expected to grow from $83.85 billion in 2020 to $92.48 billion in 2021 at a compound annual growth rate (CAGR) of 10.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $127.26 billion in 2025 at a CAGR of 8.3%.

The material handling market report is segmented by type into automated guided vehicles, automated storage and retrieval systems, trucks and lifts, cranes, pallet racking, conveying systems, hoists, others, by operations into assembly, distribution, transportation, others, and by end user into food & beverages, automotive, construction, consumer goods & electronic, pharmaceuticals, e-commerce, others.

Material Handling Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides material handling market overview, forecast material handling market size and growth for the whole market, material handling market segments, and geographies, material handling market trends, material handling market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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