Material Handling Equipment Market Is Expected To Reach USD 44.5 Billion By 2028
San Francisco, 11 June 2021: The Report Material Handling Equipment Market Size, Share & Trends Analysis Report By Product (Storage & Handling Equipment, Automated Storage & Retrieval System, Industrial Trucks), By End Use, By Region, And Segment Forecasts, 2021 - 2028 The global material handling equipment market size is expected to reach USD 44.5 billion by 2028, according to a study report by Grand View Research Inc. The market is expected to expand at a CAGR of 7.4% from 2021 to 2028. Rapid industrialization and increased demand for automation in material handling equipment will drive market growth over the forecast period. Further, an upsurge in e-commerce growth worldwide will also act as a catalyst for future market growth. However, the lack of a skilled workforce to operate automated system functions may limit adoption to a certain extent. The COVID-19 pandemic forced several companies to operate with a limited workforce. Therefore, the demand for automated sy