FACTS

1. Slip and trip hazards are commonplace if you fail to organize the area. The area may also have struck-by hazards due to navigating equipment and machinery through tight spaces. Laydown yards may have biological hazards in the form of pests, including insects, snakes, raccoons, etc. 
2. Material handling equipment is used in warehouses for managing the storage and transportation of goods and products. It ensures improved productivity by enhancing logistics at warehouses and manufacturing plants. 
3. Material handling does not directly contribute to the production of goods, but it leads to efficiency in handling, managing, storing, and transporting goods. 
4. Manufacturing and other industries incessantly attract huge amounts of foreign capital, thus augmenting the production activities. Governments across the world are increasing their infrastructural development to build new airports, rail networks, seaports, and power plants, and upgrade the prevailing ones. 

STATS

• A total of 828 fatalities, which is the highest number since 2009 in large industrial projects with large laydown yards.
• In 2018, the industrial trucks market accounted for over 15% of the global material handling equipment market share and will witness high growth owing to the rising adoption of Automated Guided Vehicles (AGVs). These vehicles use carts, pallets or trays and are programmed to move between different manufacturing and warehouse stations without a driver. 
• The robotics segment in the material handling equipment market is expected to witness significant CAGR of over 8% to reach over USD 20 billion by 2024 owing to the demand for high-performance robotic systems across various industry verticals. 
• The rising awareness about the advantages of automated systems globally will fuel the demand for robots across industries.
• Extensive R&D undertaken in the field of robotics & AI is expected to fuel the material handling equipment market over the forecast period. The incorporation of machine learning capabilities in the robots to increase productivity with predictive maintenance further contributes to the industry demand.
• The expanding 3PL sector globally is expected to witness a CAGR of over 6% in the material handling equipment market. The increasing complexity of supply chains is compelling businesses to turn towards 3PL service providers to ensure smooth and efficient operations.