Materials Handling Equipment:

There are two types of equipment - general manufactured like fork lifts, stackers, and hoists, and special manufactured like overhead cranes, lifts, robotic arms, and conveyors. Increasing national and international trade and blooming material transit industries involve industrial lifting equipment for loading, unloading and stacking and participation of these equipment in construction sectors are all market boosters for industrial lifting equipment. High cost, bulky size, limited weight lifting capability and slow speed of operation are some common problems associated with industrial lifting equipment. Also, high maintenance requirements and high failure rates are key factors which restraint global industrial lifting equipment markets. The global handling and lifting equipment market will grow at a steady CAGR of close to 11 percent during the forecast period, Technavio's market research on global handling and lifting equipment market 2016-2020 showed. The demand for handling and lifting equipment is on the rise due to rapid infrastructure development and increasing construction activities across the globe. Equipment manufacturers have started focusing on the incorporation of new safety and control systems in handling and lifting equipment such as helping to prevent sway of the load and possible collisions with obstacles or persons. The cranes product segment used on a wide array of construction, manufacturing, and warehousing applications will dominate the global lifting and handling equipment market during the forecast period. The segment will surpass USD100 bn as market value by the end of 2020. The Asia Pacific (APAC) region dominates the global handling and lifting equipment market and is expected to grow at a steady CAGR of nearly 11 percent until 2020. Much of this growth can be attributed to the recent increase in the amount of investments in infrastructure and construction projects, especially in countries like India and China. The global handling and lifting equipment market is witnessing competition in terms of availability of flexible financing options like monthly installments, and rental and lease services on a monthly, yearly, and daily basis. Since the customers in this market are focusing on manufacturers offering technologically advanced, eco-friendly handling and lifting equipment, the level of competition will increase over the next few years. Key market vendors in all categories include Komatsu, Konecranes, Liebherr, Terex Corporation, Ingersoll-Rand plc., Toyota Industries Corporation, Daifuku Co., Ltd, KION Group, Crown Equipment Corporation, Mitsubishi Forklift Trucks and American Crane and Equipment. Lifting and handling equipment are used across a range of industries to help move materials, goods and people. These include hand-operated or power-driven lifting, handling, loading or unloading machinery. This industry's primary customers are manufacturers, construction companies and freight-handling firms.