GCC materials handling equipment market to hit $5bn
The market for materials handling equipment in the GCC is set to maintain a compound annual growth rate (CAGR) of more than 4% while reaching an estimated $5bn in revenues by 2020, said the organisers of Materials Handling Middle East 2017 citing a Frost & Sullivan report.
Saudi Arabia, with about 46% and the UAE with 35%, make up the largest markets in the region and are expected to continue to spearhead market expansion going forward.
Key drivers for the continued expansion in demand for materials handling equipment continues to be the ongoing focus of the GCC countries in large-scale infrastructural and logistics development, including that of key transport and shipping hubs, export processing and free zones, as well as the high dependence of many of these countries on imports of goods and services that calls for increased reliance on materials handling and logistics facilities.
Realising the potent growth potential of the regional market, the top 20 of the world’s leading materials handling systems suppliers have already signed up for Materials Handling Middle East 2017, which will run from September 11 to 13, at the Dubai International Convention and Exhibition Centre. With more than 130 exhibitors from as many as 21 different countries, representing 250 brands, having already signed up for the upcoming ninth edition of Materials Handling Middle East, the region continues to be a key focus of leading names in the intralogistics, warehousing, freight and cargo industries.
Ahmed Pauwels, CEO of organisers Messe Frankfurt Middle East, said: “As the only dedicated trade and business development event for the materials handling, logistics, warehousing and freight handling industries, Materials Handling Middle East has through the years served as an invaluable networking and interactive platform for industry stakeholders, suppliers, traders and buyers to conduct business and scope out the latest developments in the industry. This year we not only have participation from the top global brands and service providers but also a considerable increase in interest from trade buyers from across with wider region.”
Among the global heavy hitters who will be showcasing their latest offerings on the regional stage at Materials Handling Middle East 2017, include the likes of Swisslog, Daifuku and Kardex. Local leading lights such as Genavco, Span Motors and United Motors and Heavy Equipment will also be out in force, while debutants such as Feralco from France, MPM from Italy and Saudi manufacturer, Power Rack Factory will look to make more than just an initial favourable impact.
Neeraj Mahajan, the director of Genavco, said material handling equipment represents an integral part of the supply chain of diverse industries for storage, control and movement of items from the raw material stage to the distribution of finished products.
Materials Handling Middle East 2017 will also feature the Supply Chain and Logistics Forum, a key interactive forum to discuss and examine the strategies, policies, trends that are of relevance to the industry today, as well as shining the light on new and existing opportunities in the field. The event will additionally showcase the Forklift Operator of the Year Challenge, a competition to decide the most talented and skilful forklift jockeys in the region.