DUBLIN, October 18, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Material Handling Equipment Market 2016-2020" report to their offering.
The global material handling equipment market was valued at $120.26 billion in 2015 is likely to grow at a CAGR of more than 6.56% during the forecast period.
Material handling equipment refers to a range of products that aid transportation and storage of material. The equipment enhances the operational efficiency and the workflow in manufacturing, streamlines supply chain distribution channel, and manages warehouse operations for optimum utilization.
The equipment provides an accurate, process efficient, and cost-effective method for swift movements of goods across and organization. The market is divided based on functionality and geography. The report also includes a discussion of the key vendors operating in this market.
According to the report, growth of automation across key end user segment will be a key driver for market growth. The key end segment users such as the retail, automotive, and pharmaceutical sectors are incorporating automated technology into material handling equipment. This is driving the market for AMHE, as entire process starting from manufacturing, distribution, consumption and disposal is being automated.
Some of the advanced automation systems include automated storage systems in warehouses, electrical trucks, and forklifts in the pharmaceutical sector, robot delivery systems in food and beverage and baggage transport systems in the airport. Automated material handling equipment optimize storage capacity and efficient use of vertical space. These advantages are driving end-users to adopt automation technology across all sectors.
Many companies lack fundamental operations in warehouse management systems, resulting in high dependence on labor. In the US, the number of workers between in the age group of 45-50 has increased from 49.2 million in 2013 to 63.1 million in 2016 in the material handling labor workforce. Keeping pace with the rapid and dynamic technology becomes hard for this particular age group, resulting low use of AMHE.
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- SSI SCHAEFER
- Vanderlande Industries
- Clark Material Handling
- Product segmentation
- Crown Equipment
- Columbus McKinnon
Other prominent vendors
- Allied Conveyor Systems
- Dearborn Mid-West Conveyor
- Dorner Conveyors
- Dynamic Conveyor
- FMC Technologies
For more information about this report visit http://www.researchandmarkets.com/research/25rff4/global_material
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SOURCE Research and Markets