Global Cargo Handling Equipment Market – Size, Share, Trends, Demand and Growth Opportunity Assessment

Global cargo handling equipment market is expected to expand at a compound annual growth rate (CAGR) of 4.4% over the forecast period i.e. 2016-2024.

Market Landscape

Seaborne trade across the globe has significantly aided the growth of cargo volumes at marine ports which has created a considerable demand for cargo handling equipment at marine ports across the globe. The volume of seaborne trade is expected to increase by 2 folds from 9 billion tonnes per annum to about 21 billion tonnes by 2030 and the China and other fastest growing economies are projected to be the growth engines for the cargo handling equipment demand on the back of growing trades between countries and growing number of port development projects. On the other hand, developed countries are likely to create considerable demand for cargo handling equipment owing to the development of existing ports to increase their capacity and efficiency. Additionally, in 2016, more than 195,000 (Million Tons-Km) of cargo is transported through aircraft which is projected to cross 300,000 (Million tons-km) by 2024. Both airline operators and airport authorities are concentrating on the implementation of advanced cargo handling equipment in order to meet growing air cargo traffic and to confirm greater productivity and profitability.

Significant demand for heavy cranes or cargo handling equipment has been observed in past years, as a result of new development and up gradation projects of marine ports. In 2015, substantial growth is observed in the transport of ship-to-shore cranes, Europe accounted for the largest regional market with 47 new STS cranes. Moreover, of the total cranes delivered around the world, 11% were identified as E-RTG or the crane variant powered by electricity rather than fossil fuels to curb the carbon emission.

“Global Cargo Handling Equipment Market Outlook, 2016-2024” covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, the competitive analysis includes the in-depth analysis of the major players and leaders in cargo handling equipment industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler, and others. Our primary research team conducted various interviews, surveys and group discussions of industry professionals, Cargo handling equipment manufacturers, aftermarket vendors and component suppliers to analyze the future prospects of the overall cargo handling equipment industry.

Global Cargo Handling Equipment Market Segmentation can be classified on the basis of:-

  • By Product
    • Bulldozers
    • Cranes
    • Electric Pallet Jacks
    • Excavators
    • Forklifts
    • Loaders
    • Man Lifts
    • Rail Pushers
    • Reach Stackers
    • RTG Cranes
    • Side Picks
    • Tractors
    • Truck
    • Others (Top Handlers etc.)
  • By Location
    • Marine Ports
    • Airports
    • Rail Yards
  • By Geography
    • North America (US, Canada) {Market Share (%), Market Size (USD Billion), Product Split (%)}
    • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Product Split (%)}
    • The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion), Product Split (%)}
    • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Product Split (%)}
    • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Product Split (%)}

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Market Trends, Drivers, and Challenges

The world’s ever-growing population and economic growth were driven by emerging countries have led to an upsurge in logistics volume, and subsequently, an expansion of the cargo handling equipment market. At the same time, growing e-commerce transactions have demanded larger logistic sites and even more efficient logistics operations. Furthermore, the latest progression in information and communications technology (ICT) has created varied applications for logistics sites. Technological advancements and rising need for material handling equipment have significantly boosted the growth of forklift trucks and other cargo handling equipment market growth. Eisenmann’s driverless guided pallet conveyor LogiMover, HELI’s LPG IC engines and Ruyi electric vehicles are the some of the latest automated material handling robots that are giving a glimpse of future technology. However, beyond safety and expensive manufacturing, cargo handling equipment environments drive down cost usually gained from labor wages, medical costs, and training expenses, as well as expenses suffered from a facility, equipment, and unsalable product damage due to mishandling.

Global Cargo Handling Equipment Market Report has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes Porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. The global cargo handling equipment market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.

 

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