Global material handling equipment market is on the rise – Report
According to market research report, “Global material handling equipment market size is projected to surpass USD 200 billion by 2027.” The growth is being driven by in the adoption of acquisition and merger strategies by key material handling equipment manufacturers.
Furthermore, material handling equipment industry is expected to gain traction during the forecast period owing to the expanding e-commerce sector and a subsequent increase in the automation of warehouses for ensuring on-time shipments and deliveries. In addition, popularity of warehouse automation for streamlining the process of material handling is expected to stimulate industry growth.
Moreover, various integration technologies, comprising IoT and RFID, into the equipment will also play a significant role in increasing material handling equipment market revenue during the forecast period.
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