A couple of decades ago, human labour were the prime mover of materials. Gradually, realising the heavy loads that people were being made to carry, it became necessary to deploy material handling equipment. Today, material handling equipment are a common sight at airports, Metros, warehouses, offices – any place that needs transportation of goods frequently will have material handling equipment present. They have become a ubiquitous part of life.
Of course, material handling equipment would vary in terms of sizes and types. But consider this: Material handling equipment (MHE) market size was worth over $140 billion globally in 2018 and is estimated to grow at around 6% CAGR between 2019 and 2025.
The rising penetration of advanced technologies such as RFID, IoT in 3PL, food & retail, and e-commerce industries is driving growth of MHE. The incorporation of these technologies will help in saving time and costs in manufacturing processes, leading to increased accuracy and enhanced customer satisfaction. Players operating in the market are gradually adopting these technologies to maintain their position and to gain a competitive edge.
Importantly, equipment has been made safer too. Anil Lingayat, executive VP & business head, Godrej Material Handling, says, “We have always put people first. So safety ranks very high on our charts. Over the years, we have explored (and continue doing so) ways to make our equipment safer and stronger.”
Anil Bhatia, VP, sales & marketing, TIL, said, “Our pickn-carry cranes are highly different than the ones sold in the market. Most cranes available in the market are articulated cranes and they are mostly unsafe. What we have is a 360 degree continuous slew crane with plenty of safety features. For instance, in case of overload, it will shut down. Yes, it has an Australian design and works well.”
The Indian market for MHE accounts for about 13% market share of the country’s construction equipment industry. This growth is primarily being driven by increasing investment in infrastructure development, growing penetration of advanced technologies, rising demand for increased automation, and safe working practices in the manufacturing space.
The reason innovation is important and matters. RFID forklift systems to improve material handling coupled with acoustic sensor, broad beam antenna, and controller logic to identify the pallet tag are only some of the innovations.
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