November 23, 2021 06:22 EST | Source: Priority Research Priority Research
London, November 23, 2021 (GLOBE NEWSWIRE) - According to data from Precedence Research, the global material handling equipment market will reach USD 26.5 billion in 2020. Material handling equipment is used for storage, control and management of mechanical automation equipment materials and goods. It is used in industry to process operations such as manufacturing, transportation, packaging, and distribution. According to these operations, they are classified into positioning equipment, unit load forming equipment, transportation equipment, and storage equipment. For the arrangement of goods and materials, the sorting and conveying system is one of the best equipment used in this industry. Shipping is the main application of the material handling equipment market.
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The key factors affecting market growth are:
Europe is expected to grow significantly during the forecast period, and due to the adoption of advanced products to support the large-scale industrial presence in the region, it is expected to contribute more than 34.5% of the market share. For example, on September 29, 2021, Inclusive cosmetics distributor Yari announced that it would implement Mecalux's Easy WMS warehouse management system at its factory in BerkelenRodenrijs, the Netherlands. This solution will help Yari improve picking and control all inventory in real time.
Significant growth in the e-commerce sector is expected to drive market growth. In addition, during the COVID-19 pandemic, in order to comply with social distancing regulations, blockades and other measures, consumers chose to shop online. This feature has promoted the growth of the material handling equipment market. For example, on July 19, 2021, Swisslog Holding AG announced that it will maximize the synergy of co-locating micro fulfillment centers in the retail environment.
The main limiting factors that will negatively affect the growth of the material handling equipment market include the high upfront costs involved in installing material handling equipment.
Due to the tremendous growth in the e-commerce field, e-commerce companies find it difficult to process complex orders for customized and personalized products through manual processes. Therefore, e-commerce companies hope to install material handling equipment to handle complex orders. This factor will generate huge growth opportunities and will promote the growth of the material handling equipment market.
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