Cargo Handling Equipment Market: Key Highlights
Cargo Handling Equipment Market: Key Market Dynamics
Cargo Handling Equipment Market: Regional Overview
The growth in the Asia-Pacific region is attributed to the increasing industrial production and increasing air cargo and seaborne trade. The increasing emission regulations have led to advancements in cargo handling equipment for using hybrid and electric equipment in this region. According to International Air Transport Association (IATA), in 2019 Asia-Pacific region accounts for the global largest share of 35% in the cargo market.
In Europe, the increasing investment in technological advancements in cargo handling equipment and the growing trend of the e-commerce industry is boosting the demand for cargo handling equipment market growth. Moreover, the European Union has prompted cargo equipment manufacturers to offer fuel-efficient equipment with lower emissions which have increased the demand for cargo handling equipment.
Cargo Handling Equipment Market: Key Players Overview
Cargotec Corporation manufactures cargo-handling machinery for ports, terminals, ships, and local distribution. The company provides on-road load-handling solutions, the design, delivery, and servicing of marine cargo flow solutions. In December 2019, Cargotec‘s Navis a part of Cargotec Corporation to acquire the assets of Jade Logistics, a provider of the Master Terminal TOS for mixed cargo terminals. This acquisition will help to manage advance general cargo terminal operations software and services for Navis’ global customer base.
Konecranes manufactures cranes and other lifting equipment. The Company products serve the ports and intermodal, light manufacturing, and energy industries.
In January 2017, the company and Terex Corporation acquired the Mitsubishi Hitachi Power Systems (MHPS) business for improving Konecranes’ position in the industrial lifting and port solutions market.
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