Global Material Handling Product Market growing steadily!
Freedonia Group Inc recently released the results of a study done recently. The study indicated that by 2010, the material handling industry would have grown to $117 billion. Industry gurus have predicted that the market will continue to grow at the rate of 4.5% per annum. This growth is being anticipated keeping in mind the increasing needs of developing countries in the area of global material handling.
China and India are expected to show the largest increases. Western Europe and Japan will contribute to this trend by placing renewed demand. Growth in the segment is also expected due to the increasing needs of the US. Best gains are expected to come from automated material handling products such as robots and automated guided vehicles. Industry Week reports:
The U.S., Japan and Germany are the world’s largest producers of material handling products. Germany and Japan are the major net exporters, although China and South Korea are expected to become increasingly important global suppliers.
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