Distribution Material Handling Equipment Market is Forecast to Expand 5.2% Annually Through 2023
CLEVELAND, Dec. 16, 2019 /PRNewswire/ -- Since 2008, the dramatic increase in global e-commerce activity – which revolutionized delivery of goods to consumers and businesses – has had a major impact on the global material handling equipment market. As new warehouses, order fulfillment centers, and other facilities were built by companies involved in e-commerce, associated material handling equipment sales surged. Most material handling equipment is utilized in this market. These trends and more are analyzed in Global Material Handling Equipment, an industry study from The Freedonia Group.
For more information visit the study page for Global Material Handling Equipment.
The distribution material handling equipment market is forecast to expand 5.2% per annum through 2023 to $19.7 billion. Distribution is expected to register the fastest rate of growth among markets because of:
- increasing international trade, which will spur sales of material handling equipment used in warehouses and export and import facilities
- surging global e-commerce and the construction of new order fulfillment centers
- the growing use of state-of-the-art technologies in distribution applications, including advanced storage and retrieval systems
- the expansion of the global logistics and transportation sector
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About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group