The material handling market was estimated to be worth $115.3bn in 2015 and will reach a total market size of $148.5bn by the end of 2021 at a compound annual growth rate of 4.31 percent, according to a study from Research and Markets.
Focus on workplace safety is also augmenting the demand for these solutions.
Asia Pacific is the major market for material handling equipment, followed by Europe Middle East and Africa and Americas region.
Asia Pacific will emerge as the fastest-growing market and high growth will be observed across the major economies like China and India, which are fast becoming the major markets for this equipment.
