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.
Market Driver:
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.
Market Restraint:
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.
Market Opportunity:
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.
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.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million), Volume (Units) |
Segments Included |
Equipment Type, Propulsion, Ton Capacity, Engine Power, and Engine Capacity |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Container Handling Equipment Market, by Equipment Type
Container Handling Equipment Market, by Propulsion
Container Handling Equipment Market, by Ton Capacity
Container Handling Equipment Market, by Engine Power
Container Handling Equipment Market, by Engine Capacity
Container Handling Equipment Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE CONTAINER HANDLING EQUIPMENT MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY