The Future of Material Handling Innovation
Grand View Research in San Francisco has detailed the outlook for a wide variety of equipment and projects a global market of more than $208 billion in 2020.
The in-depth forecast for material handling equipment confirms that advanced technology and a growing need for automation and efficiency are driving steady gains in the industry.
The Forecast for Material Handling Equipment
With more businesses using material handling equipment to automate tasks and make human labor more efficient, we’re seeing industry rely more and more on material handling solutions to attain and maximize profitability.
The growing Asia Pacific region has the largest market for such equipment, and it continues to grow. North America and Europe are also seeing growth in the coming years, however.
In warehousing and distribution, material moving products like industrial tugs are growing. Infrastructure projects are also spurring massive sales in excavation, cranes and related equipment.
Highest Growth Seen in Material Handling
Automated material handling systems like industrial tugs and sortation devices are expected to grow more than construction, excavation, and other types of industrial machinery. The report predicts a compound annual growth rate of 5.7% through 2020.
This growth will not surprise anyone who has seen the wide range of uses for today’s material handling equipment. Industrial tugs can be used in industries ranging from warehousing to hospitals and hotels.
The latest devices have applications fit for virtually any employee in any industry where inventory, equipment, or raw materials need to be transported or distributed.
Is your business enjoying the efficiency and profitability boosts of automated material handling? Find industrial tugs and other ergonomic solutions at DJProducts.com.