COVID19: Container Handling Equipment Market is Projected to Reach Around USD 9.2 Billion by 2027
The Global Container Handling Equipment Market is projected to reach around USD 9.2 billion by 2027 at a CAGR of around 3.6%.
Container handling equipment are the vehicles uses for loading, unloading, storing and transporting of goods from one place to another carried at marine ports, logistics stations, air cargo terminals, and others. This equipment includes a forklift truck, rubber tire gantry crane, straddle carrier, rail-mounted gantry cranes, terminal tractors, and others. Loaded container handlers and unloaded container handlers are the two types of container handlers. This equipment is classified into four categories such as industrial trucks, engineered systems, bulk material handling, storage, and handling equipment.
Container Handling Equipment Market: Drivers & Restraints
Increasing Demand in Cargo Transportation
Consumer preferences are growing towards the e-commerce industry due to the rise in per capita income and change in the standard of living. Thus, the rising e-commerce market has increased the demand in marine, air, and land cargo transportation, which is directly increasing the number of container handling equipment required. As most of the goods transported are containerized and to deal with this huge cargo traffic advanced container handling equipment is needed such as forklifts, tractors, and RTG cranes. According to the India Brand Equity Foundation (IBEF), the e-commerce market is estimated to reach USD 200 billion by 2027 from USD 38.5 billion in 2017.
Thus, the increasing demand for cargo transportation is expected to drive the Container Handling Equipment Market growth during the forecast period.
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High Initial Investment of Container Handling Equipment
The initial investment for container handling equipment is high. Manufacturers are focusing on improving the productivity of this equipment by including modern technologies such as artificial intelligence (AI), Blockchain, cloud computing, and the internet of things (IoT). These technologies are expensive and are adding up designing and production costs. In addition to this, the operational and frequent maintenance and repair costs increase the overall expenditure of this equipment.
Thus, the high investment of container handling equipment is a restraining factor for the market growth during the forecast period.
Stringent Emission Regulations
Stringent emission norms are imposed to control emission and to reduce diesel particulate matter which has pushed the manufacturers in replacing the diesel-based equipment with hybrid and electric equipment at ports and railyards. For instance, hybrid straddle carriers consume 40% less fuel than diesel-powered vehicles and emit on average over 50 tonnes less CO2 per year. Also, equipment such as rubber tire gantry cranes (RTGs) and terminal tractors accounts 68.1% of the total CO2 emission which has been replaced by retrofitting of RTGs cranes and new liquefied natural gas tractor which results in a large reduction of CO2 emission.
Thus, stringent emission regulations are anticipated to boost the Container Handling Equipment Market growth in the future.
Container Handling Equipment Market: Key Segments
- By Equipment Type: Forklift Truck, Rubber Tire Gantry Crane, Straddle Carrier, Rail Mounted Gantry Cranes, Container Cranes, Terminal Tractors, Reach Stackers, Ship-To-Shore Container Cranes, Portal Slewing Cranes, Empty Container Handler, and Others.
- By Propulsion: Diesel, Hybrid, and Electric.
- By Ton Capacity: Below 9 Tons, 10–30 Tons, 31–45 Tons, 46–60 Tons, 61–75 Tons and Above 75 Tons.
- By Engine Power: Below 100 kW, 100–200 kW, 201 -300 kW and Above 301 kW.
- By Engine Capacity: Below 7 Liter, 7–10 Liter and Above 10 Liter.
- By Region Covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa with individual country-level analysis.
Container Handling Equipment Market: Report Scope
The report on the Container Handling Equipment Market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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List of the leading companies operating in the Container Handling Equipment Market include:
- Cargotec (Finland) (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Konecranes (Finland)
- SANY GROUP (China)
- Liebherr (Germany)
- HYSTER (US)
- Anhui Heli Co.,Ltd. (China)
- Hoist Material Handling, Inc. (US)
- TOYOTA INDUSTRIES CORPORATION (Japan)
- Shanghai Zhenhua Heavy Industries Co., Ltd. (China)
- CVS ferrari S.P.A. (Itlay)
- Other Key Companies
Container Handling Equipment Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Container Handling Equipment Market, by Equipment Type
- Forklift Truck
- Rubber Tire Gantry Crane
- Straddle Carrier
- Rail Mounted Gantry Cranes
- Container Cranes
- Terminal Tractors
- Reach Stackers
- Ship-To-Shore Container Cranes
- Portal Slewing Cranes
- Empty Container Handler
Container Handling Equipment Market, by Propulsion
Container Handling Equipment Market, by Ton Capacity
- Below 9 Tons
- 10–30 Tons
- 31–45 Tons
- 46–60 Tons
- 61–75 Tons
- Above 75 Tons
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Container Handling Equipment Market, by Engine Power
- Below 100 kW
- 100–200 kW
- 201 -300 kW
- Above 301 kW
Container Handling Equipment Market, by Engine Capacity
- Below 7 Liter
- 7–10 Liter
- Above 10 Liter
Container Handling Equipment Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
KEY QUESTIONS ANSWERED BY THE REPORT
- What are the prominent developments affecting the market globally and its growth?
- What will be the impact of the developments in the market on the industry and the market players in the future?
- What are the evolving variations of the market worldwide?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the world?
- How are the key players leveraging in the present market scenario globally?
Table of Content
- RESEARCH DESIGN & SCOPE
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- INDUSTRY TRENDS — PORTERS FIVE FORCES ANALYSIS
- CONTAINER HANDLING EQUIPMENT MARKET BY EQUIPMENT TYPE, Market Size in USD Million and Units (2019–2027)
- CONTAINER HANDLING EQUIPMENT MARKET BY PROPULSION, Market Size in USD Million and Units (2019–2027)
- CONTAINER HANDLING EQUIPMENT MARKET BY TON CAPACITY, Market Size in USD Million and Units (2019–2027)
- CONTAINER HANDLING EQUIPMENT MARKET BY ENGINE POWER, Market Size in USD Million and Units (2019–2027)
- CONTAINER HANDLING EQUIPMENT MARKET BY ENGINE CAPACITY, Market Size in USD Million and Units (2019–2027)
- CONTAINER HANDLING EQUIPMENT MARKET BY REGION, Market Size in USD Million and Units (2019–2027)
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
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