Material Handling Equipment Market To Gain From Rising Demand For Automated Storage And Retrieval Systems In The Automotive And Pharmaceutical Industries Till 2025
“The global material handling equipment market is expected to reach USD 41.1 billion by 2025. The market is expected to witness a significant growth owing to its surging espousal in the warehouses and manufacturing industries�
The global material handling equipment market is expected to reach USD 41.1 billion by 2025, according to a new report conducted by Grand View Research, Inc. The rise in manufacturing activities in the automotive, pharmaceutical, chemical, and food & beverage industries is projected to spur demand. The growing concerns for workplace safety are expected to remain a key driver. The global material handling equipment market is anticipated to witness a high growth over the forecast period. This is accredited to the use of technologically advanced products, such as hydraulic components which are incorporated into this equipment. Furthermore, the integration of telematics solutions & tracking sensors into these products is expected to gain traction in the near future, thereby fueling the equipment
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