His Excellency Mattar Al Tayer, chairman of the board and executive director of the Dubai Roads and Transport Authority (RTA) opens Materials Handling Middle East 2015

Materials Handling Middle East 2015 has ended with optimism for the materials handling sector in the Gulf region.

The event, the eighth of its type, grew 15% in exhibitor space from the previous show, with visitor numbers also tipped to be up on past editions.

Organisers say the event got off to a rousing start as manufacturers and suppliers set sights on a Gulf Cooperation Council (GCC) materials handling equipment market that is estimated to be worth USD5 billion by 2020.

The three-day event featured 129 exhibitors from 21 countries, showcasing over 250 brands.

The show was staged in the wake of research from Frost & Sullivan which indicates the GCC materials handling equipment market was valued at US$3.8 billion in 2014, while a steady 4% annual growth rate since 2010 is likely to continue up to 2020, when the market will see revenues of between USD4.8 to USD5 billion.

According to Frost & Sullivan, Saudi Arabia accounted for 46% of materials handling equipment revenue in 2014, followed by the UAE with a 35% share, while the other four member countries accounted for the remaining 19% of revenue.

The increasing complexity and evolving market dynamics in the regional logistics sector is fuelling demand for more technical innovations ranging from pallets, forklifts, automated storage and picking solutions, labelling devices, warehouse trucks, telehandlers, tow tractors, cranes and packaging equipment.

Ahmed Pauwels, CEO of Messe Frankfurt Middle East, the organiser of Materials Handling Middle East, says: "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 and aviation hub.

"Market dynamics are changing and businesses need to upscale their operations to maintain growth and stay competitive, whether in FMCG to logistics, or from retail to oil and gas," he says.