Boston, MA -- (SBWIRE) -- 09/10/2015 -- Fast Market Research announces the availability of Technavio's new report "Material Handling Equipment Market in Asia 2015-2019" on their comprehensive research portal.
Material handling equipment refers to a diverse range of products that aid the transportation and storage of materials. Pick and carry cranes, forklifts, slew cranes, crawler cranes, tower cranes, hoists, and conveyors are some of the material handling equipment. It enhances the efficiency of workflow in manufacturing, streamline supply chain distribution channels, and optimize the utilization of warehouses. It provides an efficient, accurate, and cost-effective method to move goods easily and swiftly across organizations. Industries such as automotive, mining, food and beverages, industrial machinery, aerospace, shipbuilding, power and energy, refinery, retail, and electrical and electronics are the major end-users of material handling equipment.
Technavio's analysts forecast the material handling equipment market in Asia to grow at a CAGR of 9.47% over the period 2014-2019.
Get More Details on this Report and a Full Table of Contents at Material Handling Equipment Market in Asia 2015-2019
The report analyst commented, "The high price of material handling equipment hinders its adoption by many small and medium-scale organizations across the globe. However, the need to increase their material handling capabilities has forced end-users to look for different procurement channels. As there is high competition among vendors, some are trying to differentiate themselves from other vendors by providing innovative and value-added services; this includes offering equipment such as forklifts and other industrial trucks on a rent or lease basis. The availability of rent-based material handling equipment encourages end-users to use advanced material handling equipment with low investment. This in turn is expected to drive the material handling equipment market in Asia during the forecast period."
According to the report, one of the major benefits of implementing material handling equipment is the cost saving. Such equipment enables end-users to save costs in many ways by reducing storage and transportation costs, eliminating disposal costs, reducing labor costs, and reducing product damage that would otherwise increase the unit cost of production for the company. End-users are able to make significant savings in the long run by switching from traditional material handling practices to the material handling system.
Further, the report states that one of the major challenges for the material handling equipment market in Asia is the lack of availability of a skilled workforce.
The key players in the Material Handling Equipment Market in Asia are Crown, Hyster-Yale, Jungheinrich, Kion and Toyota while other prominent vendors include Beumer Group, Cargotec, Clark Material Handling, Columbus McKinnon, Daifuku, Dematic and SSI Schaefer
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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