Material handling industry is no longer an ancillary domain. It has a host of products which it can offer to different industry verticals, making almost every industry dependent on it. One may call it an appendage that is tagged along with every other industry and the idea of doing away with it can only hamper the growth of the respective business. Although it does not directly contribute to production of goods, it makes the whole process of handling them easier. It enables businesses to transport their goods efficiently and storage them properly. As a matter of fact, the manufacturing industry is being buttressed by material handling equipment industry as it makes the goods distribution process efficient.
Businesses across manufacturing sector are realizing the essence of material handling and as a result, it is becoming an integral part of their operations. It is not just the return on investment that attracts the attention of customers towards a solution but also the improvement in speed and efficiency. To meet the demands of the market for material handling equipment, the MHE industry is geared up to churn out new equipment, and bring visibility to the supply chain process. It offers a clear picture to the customers of their investment and its effect on the complete operation.
Several research reports suggest that the Material Handling Equipment Market in India is being touted to grow at 10 percent CAGR in the next five years. Experts believe that the growth of e-commerce market is going to increase day by day. Online shopping is expected to be one of the major drivers of the industry. Many customers are changing tack and are adopting online shopping which directly translates to increased material handling needs. Another demand that has surfaced is that of tracking the shipments in real time.
“The increase in consumption, change in lifestyles and unwillingness to do menial jobs will lead to the growth of the material handling industry. These factors, in conjunction with the Government’s Make in India’ initiative, are expected to spur local manufacturing,” says Anil Lingayat, Executive Vice President & Business Head, Godrej Material Handling.
Moving further, automated systems and robots are finding their application in the MHE industry to help them expedite their process, and at the same time enabling them to bring down the costs.