CATEGORY
Plant Equipment
Plant equipments are used in warehouses and storage location to move the goods in and around the facility. Plant equipment comprises of forklifts, cranes and small loaders
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Plant Equipment market report transcript
Global Market Outlook on Plant Equipment
- The global plant equipment market is valued at $135 billion in 2019, and it is expected to grow at a CAGR of 5.0–5.5 percent until 2022, driven by globalization and expected infrastructural growth in key developing countries
- Global plant equipment demand is expected to be driven by emerging countries (that accounts for 40 percent of the global order), such as China, Japan, and India, due to ongoing industrialization and increasing global trade activity in these markets
- Mature markets, such as Europe and North America, are expected to increase, but at a slower rate of 4 percent, whereas APAC is expected to grow at a CAGR of 6-8 percent until 2022
Global Plant Equipment Market(2017)
- The APAC plant equipment market is valued at $50 billion in 2017 and is expected to grow at CAGR of 8 percent. So it remains as the largest market for the plant equipment due to the presence of emerging economies, such as India, China, and Japan
- The market for cranes and fork-lifts contributes nearly 60 percent of the plant equipment market and are expected to grow at 6 percent and 7 percent, respectively
- The major end-user industry for plant equipment are retail and whole sale (incl. food distribution), logistics, mechanical industries holding 70 percent of market
- APAC is the major market for plant material handling equipment, followed by Europe, Middle East, Africa and America.
- Europe and North America were the early adopters of material handling solutions for different industries and the trend caught up across different countries, leading to the region's dominance in the global material handling market
- The main factors that fuel the demand for plant equipment are expansion of warehouse space globally and growth of e-commerce business across the globe
Market Size and Trend - Forklift
- The global forklift market is estimated to be valued at $39 billion in 2017 and is expected to grow at a CAGR of 4-5 percent until 2019 driven by globalization of supply chain activities due to increasing global trade and commerce
- Global forklift demand is expected to be driven by emerging countries (that accounts for 40 percent of the global order), such as China, Japan, and India because of the ongoing industrialization and increasing global trade activity in these markets
- Matured market, such as Europe and North America are predicted to rise but at a slower rate of 3 percent as compared to APAC and Middle East where the market is expected to grow at a CAGR of 7 percent until 2018
Market Size and Trend - Crane
- The global crane market is valued at $37.28 billion as on 2017 and is expected to grow at a CAGR of 5.5–6 percent until 2019 driven by globalization of supply chain activities due to increasing industry and commerce and hence development of logistics industry
- In 2015, APAC emerged as the largest region for the mobile crane market with over $17 billion in revenues. The construction industry in APAC is witnessing high growth with countries, such as China, India, Japan, Singapore, and Malaysia having earmarked for large-scale investments in urban infrastructure projects
- Infrastructure and construction sectors were the major sectors for crane equipment constituting 77–79 percent of the demand
- The cranes are used as a support equipment primarily for utility handling in the mining sector, which constituted 7 percent of the global demand for the year 2015