ASIA PACIFIC MATERIAL HANDLING EQUIPMENT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In September 2023, Crown Equipment Corporation, one of the world's largest material handling companies known for its innovative lift trucks and automation solutions, launched a new series of Automated Guided Vehicles (AGVs) designed for warehouse automation. This new product line aims to enhance operational efficiency and streamline logistics processes, reflecting the growing demand for automation in the warehousing sector.
• In July 2023, Jungheinrich AG, a leading provider of intralogistics solutions, partnered with a technology company to develop smart warehouse solutions. This collaboration aims to enhance operational efficiency and drive innovation in warehouse automation, aligning with Jungheinrich AG's commitment to creating the warehouse of the future through advanced technology integration.
• In May 2023, KION Group, a leading provider of industrial trucks and supply chain solutions, acquired a software firm to enhance its automation capabilities. This strategic acquisition aims to strengthen KION Group's technological offerings and improve operational efficiencies within its product portfolio, aligning with the company's commitment to advancing digitalization in the logistics sector.
• In March 2023, Daifuku Intralogistics India, a subsidiary of Daifuku Co., Ltd. and a leading manufacturer of automated material handling systems, announced plans to construct a new manufacturing plant to further expand its operations. Scheduled to begin operations in 2024, the new facility is expected to quadruple the company’s production capacity, enabling it to meet the growing demand for intralogistics solutions in the Asia Pacific.