By Thomas R. Cutler
Research and Markets released data suggesting that the automated material handling equipment market is expected to reach $44.68 billion by 2022, at a CAGR of 7.9 percent between 2016 and 2022.
According to the analysis, market growth is propelled by increasing demand for automated solutions; the need to ensure a safe working environment; and reduction in labor cost through advanced robotics. Unit load material handling systems are estimated to hold a large share and grow at a high CAGR in the automated material handling equipment market during the forecast period.
Unit load material handling systems are widely used in various industries as they are cost effective and have many advantages such as the ability to handle several items simultaneously, thereby reducing the number of trips, time required for loading and unloading, and the cost of handling. [Read more…] about Market for automated material handling equipment to reach $45 billion by 2022