The material handling
equipment market size is anticipated to reach USD 348.6 billion by 2026, expanding at a Compound Annual Growth Rate (CAGR) of 5.2 percent during the forecast period. Factors fueling the growth of this sector include the increase in demand for incorporation of automation and modernization in manufacturing processes, expansion in the aviation industry and e-commerce industry, and demand for transparency in the supply chain process and flexibility in warehouse operations.
Material handling equipment is most commonly used in warehouses. They are used to manage the storage and transportation of raw materials, finished products, and other goods. Material handling is a crucial intermediary in the manufacturing sector as the usage of material handling equipment helps in improving productivity by enhancing logistics at warehouses and manufacturing plants.
Although it does not directly contribute to the production of goods, these material handling products not only help in efficient handling, managing, storing of consignments but they also provide cost-effective, process efficiency, and an accurate method for the swift transition of goods across the manufacturing plants and warehouses, leading to rising demand.