A new report by Global Market Insights expects the value of the worldwide material handling equipment market will exceed 200 billion US dollars by 2027.
The main reason why the market will increase is the expansion of the e-commerce sector. Online sales grew significantly during the coronavirus pandemic, and as lockdown restrictions are being eased, many shoppers will continue to shop online.
Retailers are wanting to process orders faster and accurately. They have installed new automated systems. However, most warehouses that have automated systems continue to rely on their warehouse equipment manufacturer to supply manual handling equipment for use alongside automated systems.
The report notes the growing number of third party logistics companies (3PL) that provide and operate warehouse space for online retailers. These cater to retailers who want to set up online sales without having to invest in new logistics systems. 3PL companies are another reason why material handling equipment sales have grown.
Aside from the demand for material handling equipment, there has been an increase in the sales of trucks to move goods around the country. Warehouse automation software is available to monitor the cycle of goods arriving on trucks to the warehouse, allocate storage space, guide operators to item locations and track deliveries to customers’ delivery addresses.
The boost to the material handling equipment market will be a welcome boost to warehouse equipment manufacturers, which develop and supply new and innovative material handling equipment to the owners and managers of warehouses.
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