SAN JOSE, Calif.—The global material handling market is expected to reach $104 billion in sales by 2010, according to a new report by Global Industry Analysts Inc.
The research firm noted several trends affecting growth of material handling equipment and software, including the tendency toward integration of material handling systems with procurement systems, manufacturing management systems and shipping operations; increasing demand for equipment to handle small packages from the electronic retail sector; and innovation, ergonomics, safety and environmental concerns. In addition, the research firm indicated that emerging trends in the lift truck market, along with innovations, continue to redefine the material handling business.
“Globalization has set the trend for outsourcing and ongoing industrialization in developing nations, thereby resulting in emergence of new low-cost equipment manufacturers, particularly in Asian nations,” according to Global Industry Analysts. The Asia-Pacific region is projected to record sales of $25 billion in 2009.
However, the research firm projects that Europe and the U.S. will be leading regional markets for material handling equipment, capturing about 55% of the worldwide sales by 2010. Demand for industrial trucks and lifts, in particular, is expected to exceed $7 billion by 2010 in the U.S.
“Advanced and automated equipment such as automated guided vehicles, robots; and software and other services such as project management and system design are expected drive growth and sales in the overall market,” according to Global Industry Analysts. “Apart from enhancing productivity, such equipment can be easily integrated into automated factory and warehouse environments.”
The report, entitled "Material Handling Equipment: A Global Strategic Business Report" analyzes recent past, current and future market data and analytics from 2001 to 2010, historical data (1991-2000) and long-term projections (2011-2015). Demand patterns are quantified across the U.S., Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America.
The research reviews major players in the material handling equipment market and analyzes the markets for conveying equipment; industrial trucks and lifts; hoists, cranes and monorails; and automated material handling equipment.
For more details, visit http://www.strategyr.com/Material_Handling_Equipment_Market_Report.asp