Material handling equipment market to reach US$104 billion by 2010: report
The global material handling equipment market is projected to reach US $104 billion in sales by 2010, according to ...
March 17, 2008 by Canadian Plastics
The global material handling equipment market is projected to reach US $104 billion in sales by 2010, according to a new report by San Jose, Calif.-based reaearch firm Global Industry Analysts, Inc.
The report titled “Material Handling Equipment: A Global Strategic Business Report” analyzes recent past, current and future market data and analytics over the period 2001-2010, historical data (1991-2000) and long term projections (2011-2015).
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, the report said.
According to the report, Europe and the U.S. are projected to be the leading regional markets for material handling equipment, capturing about 55 per cent of the worldwide sales by 2010. Asia-Pacific is the fastest growing regional market, projected to record sales of US $25 billion in 2009. The rapidly expanding infrastructure needs of automobile, construction, energy, electronics, food and beverage, and retail and warehousing sectors from Asian countries such as China are expected to drive future demand.
The report also noted a tendency toward complete integration of material handling systems with procurement systems, manufacturing management systems and shipping operations, which is expected to bolster demand for automation equipment and software.
More information about the research report is available at http://www.strategyr.com/Material_Handling_Equipment_Market_Report.asp