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FINANCIAL NEWS
Saudi accounts for 46 percent of GCC’s MHE revenue in 2014
15 Sep 2015
(MENAFN) Saudi Arabia accounted for 46 percent of materials handling equipment revenue in 2014, followed by the UAE with a 35 percent share, according to Frost & Sullivan.
Meanwhile, the other four member countries accounted for the remaining 19 percent of revenue, the data was revealed at Dubai International Convention and Exhibition Centre, Materials Handling Middle East 2015.
The GCC materials handling equipment market was valued at USD3.8 billion 2014, while a steady 4 percent growth since 2010 and is likely to continue up to 2020, with revenues of USD4.8-USD5 billion.
“The GCC is today among the most exciting markets for materials handling and logistics services, with the region increasingly gaining in importance as a major shipping hub,” CEO of Messe Frankfurt ME said.
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