Freedonia In The News
Article Title: Global Demand for Material Handling Equipment to Reach $142 Billion
Publication: Powder & Bulk Solids, 9/30/2014
Freedonia Study: World Material Handling Products (3196)
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Global demand for material handling equipment is projected to increase five percent annually through 2018 to $142 billion. An improved environment for fixed investment spending will enable manufacturers to invest in expansion and upgrade of facilities. Rising standards of living will boost gains, as consumers increase spending on both durable and nondurable goods. Advances will also benefit from rising construction spending.
“Continued growth in mining activity, a byproduct of voracious demand for mined materials in China, India, and other developing nations, will also create material handling product demand,” said analyst Mike Deneen. “Growth will be strongest for sales of advanced equipment that reduces the required labor input in operating machinery, helping to curtail labor costs. These and other trends are presented in World Material Handling Products, a new study from The Freedonia Group Inc., a Cleveland-based market research firm.
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