The US materials handling equipment market will increase 4.3 per cent each year through 2008, to USD20.4 billion, according to a new study by The Freedonia Group.
The report, “Material Handling Equipment & Systems”, says demand will be generated by technological innovations, which will result in equipment and services that are more productive, efficient, simpler and safer.This was especially so for automated segments of the business, such as materials handling robots, automated guided vehicles and high-end services, the report said.
While conventional materials handling equipment would continue to make up the majority of the market, the most dynamic growth would be in the automated segment.
The report says the automated segment will see a 4.8 per cent annual growth, compared to the 4.2 per cent annual growth for conventional material handling equipment.
Demand for conventional materials handling equipment would reach USD14.4 billion in 2008. Forklifts and industrial lifts would exceed conveying equipment, hoists, cranes and monorails in market growth through to 2008.Material Handling Equipment & Systems is available from The Freedonia Group. Visit www.freedoniagroup.com.