Electric Material Handling Equipment Market size was valued at USD 20.5 Billion in 2024 and is forecasted to grow at a CAGR of 7.2% from 2026 to 2033, reaching USD 36.8 Billion by 2033.
South Korea's electric material handling equipment market is experiencing significant growth, driven by the nation's emphasis on automation and sustainability. In 2023, the market was valued at USD 1.8 billion and is projected to reach USD 2.6 billion by 2030, growing at a CAGR of 5.2%.
Key equipment types include:
Cranes & Lifting Equipment: The largest revenue-generating segment in 2023.
Racking & Storage Equipment: The fastest-growing segment, reflecting the shift towards efficient storage solutions.
Industrial Trucks: Essential for various industries, offering versatility in material handling.
Continuous Handling Equipment: Facilitates streamlined operations in manufacturing and logistics.
Industries driving demand encompass:
Automotive: Requires precise and efficient handling equipment for assembly lines.
Semiconductor & Electronics: Demands clean and precise equipment to handle sensitive components.
Pharmaceutical: Needs equipment that adheres to strict hygiene standards.
Food & Beverages: Seeks equipment that ensures safety and efficiency in handling perishable goods.
E-commerce: Relies on rapid and accurate material handling to meet delivery timelines.
From personal experience, integrating electric forklifts into warehouse operations has led to noticeable improvements in energy efficiency and reduced noise levels, enhancing the overall working environment.
The electric material handling equipment market in South Korea is poised for continued growth, supported by technological advancements and the country's commitment to sustainable industrial practices.
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Schaefer
Daifuku
Dematic
Murata Machinery
Vanderlande
Mecalux
Beumer group
Fives group
Swisslog AG
Intelligrated
Knapp
Kardex AG
TGW Logistics
Grenzebach
Witron
Viastore
System Logistics
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Electric Material Handling Equipment Market
Electric Forklifts
Electric Pallet Jacks
Electric Tow Tractors
Electric Stackers
Electric Reach Trucks
Automated Guided Vehicles (AGVs)
Warehousing
Manufacturing
Retail
Construction
Aerospace
Food & Beverage
Lead-Acid Batteries
Lithium-Ion Batteries
Nickel Cadmium Batteries
Gel Batteries
Less than 2,000 lbs
2,000 to 4,000 lbs
4,000 to 6,000 lbs
6,000 to 8,000 lbs
Above 8,000 lbs
Retail Sector
Logistics and Transportation
Construction Industry
Food and Beverage Industry
Aerospace Industry
Pharmaceuticals
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Electric Material Handling Equipment Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Electric Material Handling Equipment Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Electric Material Handling Equipment Market, By Type
6. South Korea Electric Material Handling Equipment Market, By Application
7. South Korea Electric Material Handling Equipment Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Electric Material Handling Equipment Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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