Be it 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.”
This story is from the July 2020 edition of Manufacturing Today.
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This story is from the July 2020 edition of Manufacturing Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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