CARGO HANDLING EQUIPMENT MARKET: SUMMARY
The Global Cargo Handling Equipment Market is projected to reach around USD 30 billion by 2027 at a CAGR of around 3.4%.
Cargo handling equipment is any off-road, land-based equipment or self-propelled vehicle used for loading, discharging and storing of the goods carried at ports, rails, aircraft, ships, production plants, and others. This equipment includes cranes, yard tractors, forklifts, loaders, backhoes, excavators, dozers, and others. Cargo handling equipment is engaged widely in railways and marines for the transportation of containers, heavy goods, materials, and components.
CARGO HANDLING EQUIPMENT MARKET: DRIVERS & RESTRAINTS
- Increasing Demand in Cargo Transportation
Modern digital purchasing experiences have changed consumer preferences more towards online shopping. Thus, the growing e-commerce industry has increased the demand in marine, air, and land cargo transportation, which is directly increasing the number of cargo handling equipment required. As most of the goods transported are containerized and to deal with this huge container traffic advanced cargo handling equipment is needed like forklifts, tractors, and RTG cranes. According to US Census Bureau, in 2019 total e-commerce sales were estimated at USD 601.7 billion, an increase of 14.9 % from 2018.
Thus, the increasing demand for cargo transportation is expected to drive the cargo handling equipment market growth during the forecast period.
- High Capital Cost of Cargo Handling Equipment
The initial investment cost of cargo handling equipment is high. In addition to this, the operational and frequent maintenance cost increases the overall expenditure of this equipment which acts as a restraint to the market growth. For instance, the initial investment of forklifts is more expensive due to operating capacity which is how much weight it can safely handle and lift height such as 20 feet and above.
Thus, the high capital cost of cargo handling equipment is a restraining factor for cargo handling equipment market growth during the forecast period.
- Stringent Emission Regulations
To reduce diesel particulate matter and to control emission, stringent emission norms like Mobile Cargo Handling Equipment (CHE) Regulation were imposed which has pushed the cargo operators 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. For instance, by 2021 the business area of Cargotec Corporation expects all its cargo handling equipment to be replaced with electrically-powered equipment.
Thus, stringent emission regulations are anticipated to boost the cargo handling equipment market growth in the future.
CARGO HANDLING EQUIPMENT MARKET: KEY SEGMENTS
- By Equipment Type: Land Cargo Handling Equipment, Marine Cargo Handling Equipment, and Air Cargo Handling Equipment.
- By Propulsion: Diesel, Electric, and Others.
- By Application: Land Cargo, Marine Cargo, and Air Cargo.
- By Region Covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa with individual country-level analysis.
CARGO HANDLING EQUIPMENT MARKET: REPORT SCOPE
The report on the cargo 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.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million), Volume (Units)
Equipment Type, Propulsion, and Application
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa
KEY COMPANIES COVERED
- Cargotec Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- KION GROUP AG
- TOYOTA INDUSTRIES CORPORATION
- MITSUBISHI MOTORS CORPORATION
- Emerson Electric Co.
- Anhui Heli Co.,Ltd.
- Other Key Companies
CARGO HANDLING EQUIPMENT MARKET: REPORT SEGMENTATION
For the scope of the report, In-depth segmentation is offered by Forencis Research
Cargo Handling Equipment Market, by Product Type
- Threaded Fastener
- Non-Threaded Fastener
Cargo Handling Equipment Market, by Equipment Type
- Land Cargo Handling Equipment
- Forklift Trucks
- Conveyor system
- Automated Guided Vehicle (AGV)
- Marine Cargo Handling Equipment
- Forklift Trucks
- Straddle Carriers
- Rubber-Tired Gantry (RTG)
- Air Cargo Handling Equipment
- Aviation dollies
- Conveyor system
- Terminal Tractors
Cargo Handling Equipment Market, by Propulsion
Cargo Handling Equipment Market, by Application
- Land Cargo
- Marine Cargo
- Air Cargo
Cargo Handling Equipment Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- 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?
- Cargo Handling Equipment Market Providers
- Cargo Handling Equipment Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Cargo Handling Equipment Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE CARGO HANDLING EQUIPMENT MARKET STUDY