Press release
What's driving the port equipment market size? Liebherr, Shanghai Zhenhua Heavy Industries, TTS, Konecranes, Kalmar, Sany, Hyster, Lonking, and Famur Famak
port equipment market
Technological advancements including incorporation of bigdata, IoT, and AI technologies are playing a major role in improving the port vehicle operations and improving efficiency.
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What Information does this report contain?
- Historical data coverage: 2014 to 2018; Growth Projections: 2019 to 2025.
- Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
- 6-7 year performance forecasts: major segments covering applications, top products and geographies.
- Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.
Port Equipment Market size is expected to witness healthy CAGR to 2025 propelled by rising demand for ship cargo along with improving marine logistics industries. Proliferating domestic and international trading activities along with benefits offered by sea transportation including superior reliability, cost effective and congesting free transportation over long distance are further accelerating the port equipment market revenue over the projected timeframe.
Based on equipment, the port equipment market size is segmented into cranes, forklift trucks, tractors, ship loaders and automated guided vehicles. The growth in the forklift trucks can be attributed to the ability of these trucks to handle and load/unload heavier cargo and goods across multiple heights. Moreover, the proliferation of electric and fuel cell forklifts is contributing significantly towards increasing efficiency and lowering of operating expenses, thereby boosting the segment revenue.
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Asia Pacific will exhibit significant growth in the port equipment market share over the projected timeframe owing to the presence of multiple players including Sany, Lonking, Shanghai Zhenhua Heavy Industries, and Anhui Heli. Additionally, the improving water channels along with supporting government initiatives to develop the regional marine sector further expands the regional growth. Increasing ports along with proliferating inland waterways industry with appropriate integration with the logistics network are providing a positive outlook for the industry growth.
Few of the major players operating in the port equipment market size include Liebherr, Shanghai Zhenhua Heavy Industries, TTS, Konecranes, Kalmar, Sany, Hyster, Lonking, and Famur Famak. Industry participants are continuously engaged in long term agreements and contracts for expanding their market share. For instance, in 2018, Kalmar announced the delivery of ten TL2 terminal tractors to Trac-Wheels in Malaysia. This strategy enabled the company to significantly enhance its business operations and support in expanding their business share.
Browse Related Report https://www.marketwatch.com/press-release/electronic-logging-device-market-report-2019-current-trends-and-future-demand-2019-06-24
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