Global Material Handling Equipment Market 2016-2020
About Material Handling Equipment
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 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.
Technavio’s analysts forecast the global material handling equipment market to grow at a CAGR of 6.56% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global material handling equipment market for 2016-2020. To calculate the market size, the report considers the demand for material handling equipment in terms of revenue and volume.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Material Handling Equipment Market 2016-2020
Technavio recognizes the following companies as the key players in the global material handling equipment market: Beumer, Daifuku, Dematic, SSI SCHAEFER, Vanderlande Industries, Clark Material Handling, Product segmentation, Crown Equipment, Columbus McKinnon, and Business strategy.
Other Prominent Vendors in the market are: Allied Conveyor Systems, Caterpillar, Dearborn Mid-West Conveyor, Dorner Conveyors, Dynamic Conveyor, FMC Technologies, Intelligrated, RUD, Shuttleworth, Swisslog, and Taikisha.
Commenting on the report, an analyst from Technavio’s team said: “Increased co-ordination between systems will be a key trend for market growth. Growing demand from end-users have led to warehouses optimizing workflow in a better and efficient manner. Increased synchronization between material handling systems is expected to grow with machine-to-machine co-ordination and communication. Conveyors, forklifts, ASRS, and AGVs will be connected to labor departments, warehouse control, transportation centers, and customer management systems. This type of co-ordination will bring swift workflow and increased operational efficiency. ”
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.
Further, the report states that inadequate skills in labor force will be a major challenge for the market. Automated material handling equipment markets need high skilled labors to operate highly technical systems and software. Though the trend is low in India, even developed markets like North America and Europe have few technically skilled laborers. 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.
Beumer, Daifuku, Dematic, SSI SCHAEFER, Vanderlande Industries, Clark Material Handling, Product segmentation, Crown Equipment, Columbus McKinnon, Business strategy, Allied Conveyor Systems, Caterpillar, Dearborn Mid-West Conveyor, Dorner Conveyors, Dynamic Conveyor, FMC Technologies, Intelligrated, RUD, Shuttleworth, Swisslog, and Taikisha.