GCC market for materials handling equipment to exceed $4.8bn by 2020
Revenues associated with materials handling equipment in the GCC are forecast to grow by over 4% to an estimated $4.8bn to 5.0bn by 2020, up from $3.78bn in 2014, according to Frost & Sullivan
Revenues associated with materials handling equipment in the GCC are forecast to grow at a compound annual growth rate of over 4% to an estimated $4.8bn to $5.0bn by 2020, up from $3.78bn in 2014, according to research by analysts Frost & Sullivan.
The largest markets in the region are Saudi Arabia, with a 46% share, and the UAE, with a 35% share, and both countries are expected to continue to lead market expansion going forward.
The sector continues to be driven the ongoing focus of the GCC countries in developing their logistics infrastructure, including 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.
Realising the potential for growth, 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.
Among the global heavy hitters who will be showcasing their latest offerings on the regional stage at the regional exhibition include the likes of Japan’s Daifuku and Switzerland’s Swisslog and Kardex.
Leading local companies will include as GENAVCO, SPAN and United Motors and Heavy Equipment, while new debuts include France’s Feralco, Italy’s MPM and Saudi manufacturer, Power Rack Factory.
Ahmed Pauwels, CEO of organisers Messe Frankfurt Middle East, commented: “As the only dedicated trade and business development event for the materials handling, logistics, warehousing and freight handling industries, Materials Handling Middle East serves as an invaluable networking platform.”
“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.”
Over 130 exhibitors, from 21 different countries and representing 250 brands, having already signed up for the 9th edition of the biennial thee-day event, Materials Handling Middle East.