Study projects growth in material handling world market

The world market for material handling equipment and systems is projected to grow by 6.2% per year from $79.8 billion in 2001 to $107.9 billion in 2006, including price increases, according to ''World Material Handling'' by the Freedonia Group Inc. (Cleveland, OH, ).

By Control Engineering Staff January 1, 2003

The world market for material handling equipment and systems is projected to grow by 6.2% per year from $79.8 billion in 2001 to $107.9 billion in 2006, including price increases, according to ”World Material Handling” by the Freedonia Group Inc . (Cleveland, OH, ).

The study found this expected growth will fueled by a geographically broad-based economic recovery, and that the fastest annual increases are expected in the Asia/Pacific region. It adds that prospects are especially good for advanced/automated material handling products, such as robots and automated guided vehicles.