DUBLIN--(BUSINESS WIRE)--The "Material Handling Equipment-Global Market Trajectory and Analysis" report has been added to ResearchAndMarkets.com's products.
During the COVID-19 crisis, the global material handling equipment market in 2020 is estimated to be USD 125.7 billion, and is expected to reach a revised USD 171.1 billion by 2027, growing at a compound annual growth rate of 4.5% during the 2020 analysis period-2027.
Conveying equipment is one of the market segments analyzed in the report, and is expected to grow at a CAGR of 4.2% by the end of the analysis period, reaching USD 50.1 billion. After an early analysis of the business impact of the pandemic and the economic crisis it caused, the growth of the industrial truck and elevator segment was re-adjusted to a revised 4.4% compound annual growth rate over the next 7 years.
The U.S. market is estimated at 33.3 billion U.S. dollars, while China is expected to grow at a CAGR of 6.6%
The U.S. material handling equipment market is estimated at 33.3 billion U.S. dollars in 2020. China is the world's second largest economy. It is estimated that by 2027, the market size is expected to reach 34.1 billion U.S. dollars, with a compound annual growth rate of 6.6 billion U.S. dollars% in the analysis period from 2020 to 2027. Other notable geographic markets include Japan and Canada, which are expected to grow by 3.4% and 3.5% between 2020 and 2027, respectively. In Europe, Germany is expected to grow at a compound annual growth rate of approximately 3.6%.
The compound annual growth rate of the crane, crane and monorail sector is 4.3%
In the global crane, crane and monorail market segment, the United States, Canada, Japan, China and Europe will drive the segment’s estimated compound annual growth rate of 4.2%. The total market size of these regional markets in 2020 is USD 12.4 billion, and by the end of the analysis period, the size is expected to reach USD 16.5 billion. China will remain one of the fastest growing countries in this regional market cluster.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call 353-1-416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call 353-1-416-8900