World material handling product demand is projected to expand 4.5% per year through 2010 to $117 billion, according to a new study by The Freedonia Group (Cleveland). Developing parts of the world will provide suppliers with some of the best sales opportunities. Industrialization-related fixed investment activity, rising per capita incomes and growth in manufacturing output will all contribute to increases in equipment demand in these areas, most notably in the developing countries of Asia.
Sales are also expected to be strong in Turkey, Mexico and Russia. These and other trends are presented in World Material Handling Products, the Cleveland-based industry research firm’s newest product.
Western Europe and Japan will show renewed strength following a period of relatively sluggish gains, and market advances in the U.S. will also accelerate through 2010. Increases fueled by generally favorable economic conditions and higher income levels, leading to a rise in good consumption and manufacturing production, boosting material handling sales as fixed investment activity climbs.
The report indicates advanced automated products, such as robots and AGVs will post the best gains, as will software and high-end services like systems design and project management.
Source: The Freedonia Group
