World demand to rise 5% annually
Global demand for material handling equipment is projected to increase 5 per cent annually through 2018 to $140 billion. Gains will be strongest for sales of advanced equipment such as automated conveyors and automated guided vehicles. Automated products reduce the required labour input in operating machinery, helping to curtail labor costs. Energy efficient products, such as electric lift trucks, will also see solid gains as end users seek to reduce costs.
These are some of the findings of a new report titled ‘World Material Handling Products Market’ by ReportLinker. The study presents historical demand data for 2003, 2008 and 2013, as well as forecasts for 2018 and 2023 by product, market, world region, and for 29 countries.
India and China will see the strongest gains, in large part because of rising manufacturing output that will spur demand for equipment to facilitate distribution and production. West European markets include many of the most intensive users of material handling equipment in the world, because manufacturers in the region have long been among the leaders in adopting automated equipment as a response to high domestic labor costs.
The US will continue to be the world's largest material handling product market, benefiting from an improved outlook for