A rise in disposable income, flourishing construction, and an increasing number of manufacturing facilities are projected to propel the global material handling equipment market growth during the forecast period. According to a published report by Fortune Business Insights, titled, “Material Handling Equipment Market Size, Share and Industry Analysis, By Equipment Type, By Operations, By End-use Application and Regional Forecast, 2019-2026,” the global material handling equipment market is expected to reach USD 354.03 Billion by 2026, thereby exhibiting a CAGR of 7.8% during the forecast period.
The report further states that the global market size was valued at USD 194.73 Billion in 2018. Additionally, the expansion of the packaging industry and automotive and consumer electronics industry is likely to contribute to the global material handling equipment market in the coming years.
Key Players Analysis:
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“Briggs Acquires MacKinnon to Expand the Former’s Material Handling Business”
Earlier, in July 2017, Briggs Construction Equipment, Inc., a leading supplier of material handling equipment, based in Dallas, announced that it acquired MacKinnon Equipment and Services, a seller of handling and construction machinery. The acquisition aids Briggs in expanding its material handling equipment business in Georgia and Florida. MacKinnon is currently functioning as a database administrator of Briggs without any changes in the business and leadership approaches. The entire transaction was completed on July 30. However, the details of the transaction are still confidential.
The report described and predicts the global material handling equipment market in terms of system type, value, industry, function, type, and geography. It aids in analyzing opportunities for stakeholders in the industry by evaluating the dominant segments. Furthermore, the report analyzes growth strategies, namely, key developments, innovative product launches, collaborations, acquisitions, contracts, and agreements in the global market.
Analysis by Market Segmentation:
“Rising Demand for Online Shopping to Boost Growth of Transportation Segment”
In terms of operations, the global material handling equipment market is categorized into transportation, distribution, assembly, and others. Amongst these, the transportation segment is expected to remain dominant in the global market during the forthcoming years owing to the increasing development of infrastructure, rising demand for online shopping, and growing demand for transportation and logistics.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Material Handling Equipment Market 2019 Manufacturers Data, Import Export Scenario, Application, Type, Regions and Future Forecast Till 2026