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Material Handling Equipment Telematics Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR41253
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The material handling equipment telematics market share is expected to increase by USD 2.41 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 11.02%.

This material handling equipment telematics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (truck, earthmoving equipment, crane, tractor, and others) and geography (North America, Europe, APAC, South America, and MEA). The material handling equipment telematics market report also offers information on several market vendors, including Cargotec Corp., CLARK Material Handling Co., Continental AG, Deere and Co., Doosan Infracore Co. Ltd., Geotab Inc., Hyundai Motor Co., Oshkosh Corp., Robert Bosch GmbH, and Trackunit AS among others.

What will the Material Handling Equipment Telematics Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Material Handling Equipment Telematics Market Size for the Forecast Period and Other Important Statistics

 

Material Handling Equipment Telematics Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increase in construction activities is notably driving the material handling equipment telematics market growth, although factors such as issues related to data security may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the material handling equipment telematics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Driver for the Material Handling Equipment Telematics Market

The increase in construction activities is one of the key material handling equipment telematics market growth drivers. The growth of the construction industry across the globe has increased the demand for material handling equipment telematics. The industry plays a crucial role in increasing the economic growth of the country and the sustainability of the global economy. Governments play a major role in the growth of the construction industry worldwide. The government investments in the construction industry are expected to boost the growth of the industry across the globe, which would subsequently drive the demand for material handling equipment telematics during the forecast period. 

Key Challenge for the Material Handling Equipment Telematics Market

Issues related to data security are the key challenges for the market in focus. The connectivity of material handling equipment with wide corporate networks helps companies monitor and manage the operations remotely, thus increasing the chances of cyberattacks. Companies that are engaged in sharing and accessing information with external vendors are more vulnerable to data breaches and cybersecurity issues. Factors such as altering installation settings and the location of assets, changes in production settings, malfunctioning in the installation of the equipment, and the theft of confidential data of companies may lead to physical damage to equipment and increase risks. Risks associated with the hacking of confidential data related to equipment and organizations are expected to reduce the adoption of telematics, limiting the material handling equipment telematics market growth during the forecast period. 

This material handling equipment telematics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Material Handling Equipment Telematics Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Cargotec Corp.
  • CLARK Material Handling Co.
  • Continental AG
  • Deere and Co.
  • Doosan Infracore Co. Ltd.
  • Geotab Inc.
  • Hyundai Motor Co.
  • Oshkosh Corp.
  • Robert Bosch GmbH
  • Trackunit AS

 

This statistical study of the material handling equipment telematics market encompasses successful business strategies deployed by the key vendors. The material handling equipment telematics market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The material handling equipment telematics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Material Handling Equipment Telematics Market?

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43% of the market’s growth will originate from North America during the forecast period. The US is the key market for material handling equipment telematics market in North America. Market growth in this region will be faster than the growth of the market in Europe, South America, and MEA.

The rising demand for cranes and aerial work platforms in the construction and industrial sectors will facilitate the material handling equipment telematics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Material Handling Equipment Telematics Market?

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The material handling equipment telematics market share growth by the truck segment will be significant during the forecast period. In material handling equipment, trucks play an important role in moving materials from one place to another. These industrial trucks are widely used for the transportation of goods and materials in and out of storage areas, manufacturing locations, or loading docks. Reduced operating costs, improved fleet security, and control are the major factors driving the adoption of telematics in the trucks used for material handling.

This report provides an accurate prediction of the contribution of all the segments to the growth of the material handling equipment telematics market size and actionable market insights on post COVID-19 impact on each segment.

 

Material Handling Equipment Telematics Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 11.02%

Market growth 2021-2025

$ 2.41 billion

Market structure

Fragmented

YoY growth (%)

10.10

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 43%

Key consumer countries

US, China, UK, Gibraltar, and Italy

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Cargotec Corp., CLARK Material Handling Co., Continental AG, Deere and Co., Doosan Infracore Co. Ltd., Geotab Inc., Hyundai Motor Co., Oshkosh Corp., Robert Bosch GmbH, and Trackunit AS

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Material Handling Equipment Telematics Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive material handling equipment telematics market growth during the next five years
  • Precise estimation of the material handling equipment telematics market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the material handling equipment telematics industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of material handling equipment telematics market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Truck - Market size and forecast 2020-2025
    • Earthmoving equipment - Market size and forecast 2020-2025
    • Crane - Market size and forecast 2020-2025
    • Tractor - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Product

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Cargotec Corp.
      • CLARK Material Handling Co.
      • Continental AG
      • Deere and Co.
      • Doosan Infracore Co. Ltd.
      • Geotab Inc.
      • Hyundai Motor Co.
      • Oshkosh Corp.
      • Robert Bosch GmbH
      • Trackunit AS

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The material handling equipment telematics market growth will increase by $2173.91 million during 2020-2024.
      The material handling equipment telematics market is expected to grow at a CAGR of 10.85% during 2020-2024.
      Technavio has segmented the material handling equipment telematics market by product (Truck, Earthmoving equipment, Crane, Tractor, and Others) ,other 1 (Semiconductors, Life sciences, Material sciences, and Nanotechnology) , and geographic (North America, Europe, APAC, and South America).
      Cargotec Corp., CLARK Material Handling Co., Continental AG, Deere & Co., Doosan Infracore Co. Ltd., Geotab Inc., Hyundai Construction Equipment Co. Ltd., Oshkosh Corp., Robert Bosch GmbH, Trackunit AS are a few of the key vendors in the material handling equipment telematics market.
      North America will register the highest growth rate of 43.72% among the other regions. Therefore, the material handling equipment telematics market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the material handling equipment telematics market growth are:
      • Increase in construction activities

        Material handling equipment is used in most construction sites as a necessary requirement. The growth of the construction industry across the globe has increased the demand for material handling equipment. The construction industry in countries such as the US, China, and India is growing significantly. According to a report published by the Global Construction Perspectives (GCP), the global construction output is expected to reach $15.5 trillion by 2030. China, the US, and India are expected to account for 57% of the global growth of the construction industry. The construction industry includes the construction of residential, commercial, and industrial establishments. The industry plays a crucial role in increasing the economic growth of the country and the sustainability of the global economy. Governments play a major role in funding and decision-making to flourish the growth of the construction industry worldwide. Construction projects across the globe are developed on the basis of the public-private partnership (PPP) model. In this kind of business model, an agreement or contract is established between one party from the government side and another from the private sector. This model mainly involves combining the capabilities of both the private and public sectors to bring new facilities and upgrade the existing facilities. Governments of developing countries, such as India, Saudi Arabia, and Qatar, are investing in the development of various construction projects. For instance, in October 2018, Saudi Arabia announced the NEOM project for building a multi-billion-dollar megacity. The Saudi Arabian government has invested $500 billion to build a megacity, which will be completed by 2025. In November 2019, the Government of India announced its plan to invest $3.5 billion to recover the stalled residential projects. The Government of India is focusing on this project to boost the Indian economy. In India, rail infrastructure investment is expected to increase from $58.96 billion in 2013-2017 to $124.3 billion in 2018-2022. Moreover, according to India Brand Equity Foundation IBEF, 2021, there will be an investment of $715.41 by 2030 in Indian rail infrastructure. Such initiatives by the government are expected to boost the growth of the construction industry across the globe, which would subsequently drive the demand for material handling equipment, such as forklift trucks, lifting devices, and cranes, during the forecast period. The integration of telematics into material handling equipment helps construction firms monitor the location and performance of the equipment to provide effective and efficient services. Therefore, the increasing demand for material handling equipment at construction sites is driving the growth of the global material handling equipment telematics market.

      • Technological advances

        The growing demand for automation across the manufacturing and construction industries and the increasing adoption of advanced technologies such as the Internet of things (IoT) and artificial intelligence (AI) have increased the demand for material handling equipment telematics globally. The adoption of automation across industries is termed the Fourth Industrial Revolution or Industry 4.0. This has increased the focus on developing smart industries with the integration of machine learning and big data analytics. It helps in autonomous decision-making in labor-intensive processes by using the IoT, cyber-physical systems, and cloud computing. The use of robotic systems controlled by remote computers integrated with machine learning is used in industrial facilities to process the workflow with minimal human interventions. Increasing pressure in the supply chain for delivering materials on time, increasing stock-keeping unit (SKU) generation, and the need for faster delivery have propelled the demand for automation to minimize the risk of unexpected delays and downtime. Moreover, the integration of IoT solutions to increase the reliability of assets, avoid accidents at workplaces and prevent equipment failure has fueled the adoption of the IoT in machine handling equipment. Vendors are focusing on the integration of the IoT with automation to improve telematics in material equipment handling. For instance, in April 2019, Toyota Material Handling Group, a manufacturer of forklifts, established a partnership with Microsoft Corp., a technology company, to provide solutions integrated with AI and the IoT to meet the global demand of e-commerce firms for moving goods quickly, safely, and accurately to the destination from the manufacturing facility.

      The material handling equipment telematics market vendors should focus on grabbing business opportunities from the truck segment as it accounted for the largest market share in the base year.
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