Material Handling Equipment Market Growing at a CAGR of More Than 5% From 2016 to 2024.

Toyota Industries Corporation - a Japanese manufacturer has recently taken a full-scale entry into the North America material handling equipment market by its recent acquisition of Bastian Solutions LLC - a leading system integrator. This signifies the high degree of competition in material handling equipment industry where the companies are aggressively involved in strategic collaborations and merger and acquisitions. Some other prominent players actively partaking in material handling equipment include Daifuku Co. Ltd, KION Group, Dematic GmbH & Co., and Bastian Solutions LLC.

Request For Sample Copy Of This Report @ https://www.gminsights.com/request-sample/detail/1384

Material handling equipment market is gaining significant traction, owing the equipment’s capability to provide ease of material transfer with better efficiency, which is likely to lead to a rapid pickup in the demand of these products. Growing industrial deployment of material handling equipment have significantly reduced manual errors and to some extent have also eliminated the need for human workforce to carry out monotonous tasks. The evolution in the technology with IoT, RFID, and voice picking, has now enabled delivery of smooth warehouse & logistics operations to meet customer demand.

A notable boost in the investment for installing these machineries in warehouses have provided a significant impetus to material handling equipment industry share. The global Material Handling Equipment Market was worth USD 110 billion in 2015, and is poised to grow at a rate of 5% over the period of 2016-2024, as per a report by Global Market Insights, Inc.

Swift changes in consumer preferences have constantly kept the companies operating in material handling equipment industry to integrate their products offerings and solutions to keep up with the growing demand. Vanderlande Industries, for example have launched a new product offering called the AIRTRAX- an innovative and reliable warehouse solution that offers high performance. The new product comes with a wide range of benefits and features and is capable of moving hanging goods with ease across large distances. These types of products are being a major hit in the fashion industry and the E-commerce sector.

Browse complete summary of this report @ https://www.gminsights.com/industry-analysis/material-handling-equipment-market

Fast, undamaged, and timely deliveries are somehow a mandate in the E-commerce industry. As a consequence, these companies are witnessing heavy deployment of material handling equipment such as the industrial trucks with monitoring capabilities to enhance their efficiency. The installation of material handling equipment has aided in transferring more number of pallets per shift and minimize product damage as well. Several companies in material handling equipment market have incorporated warehouse management systems(WMS) to better control and monitor the inventory and the stock locations. With the recent development of omni-channel distribution facilities, the ease in ship-to-consumer, in-store pick-up, returns processing, specialty labeling, ship-to-store and product customization has further accelerated the growth of material handling equipment industry.

The rapid industrial developments and urbanization has the most prominent impact on the global material handling equipment market share. The demand for these products is rising exponentially in the emerging economies of Asia Pacific. Growing technological advances coupled with cheaper transportation cost and minimal labor wages have attracted many material handling equipment market players to invest in the region. India is one of the prominent country projected to witness a major upswing in its material handling equipment market share. A robust surge in the region’s manufacturing activities have resulted into a growing need for automation in the industries.

The advent of automation and robotics in the manufacturing industries has further catalyzed material handling equipment industry to prosper. Automation in material handling systems have scaled up the operational needs and have significantly enabled lower production costs, high quality, increase in pick rates, and reduced labor cost & manpower. The Automated Guided Vehicles (AGVs) are the popular mobile robots used for moving materials around the warehouses or the manufacturing units.

Make An Inquiry To Purchase This Report @ https://www.gminsights.com/inquiry-before-buying/1384

Based on the product, the material handling equipment industry is segmented into storage & handling equipment, robotics, bulk material handling equipment, automated storage & retrieval system (AS/RS). Robotics material handling equipment market is set to record a heavy demand and adoption rate over the coming years. The product assists in improving the overall productivity of the manufacturing unit and have also resulted into delivering high quality products. The automated storage and retrieval systems have also gained considerable prominence in the material handling equipment industry by offering integrated automated hardware and software for accurate picking and replacement of materials.

With the ability to multi-task and streamline the entire material handling process, the material handling equipment industry is poised to witness an accelerated growth track in the years ahead.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com

This release was published on openPR.