Container Handling Equipment Market To Offer Increased Growth Prospects For Manufacturers : Fact.MR

According to a new Fact.MR study, the global market for container handling equipment is expected to increase at a value CAGR of 4.2% over the forecast period, to reach a market surpass US$ 2 Bn by 2031.

Historically, between 2016 and 2020, sales of container handling equipment surpassed US$ 1.5 Bn
by the end of 2020. Due to COVID-19, transportation around the world was halted. Restricted movements by the government around the globe slowed down the growth of container handling equipment.

The increasing number of new terminals and the advent of automation is one of the most prominent trends in the container handling equipment market. As container terminals aim for higher productivity and more efficient operations, automation is making significant strides across the globe.

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Key Segments Covered

By Equipment Type
Container Handling Forklift Trucks
Container Handling Automated Stacking Cranes
Container Handling Reach Stackers
Container Handling Terminal Tractors
Container Handling Straddle Carriers
Container Handling Rail Mounted Gantry Cranes
Container Handling Automated Guided Vehicles
Container Handling Rubber Tired Gantry Cranes

By Propulsion Type
Electric/Hybrid Container Handling Equipment
Diesel Container Handling Equipment

Competitive Landscape

Key companies in the container handling equipment are focusing on developing electric and hybrid equipment that do not harm the environment.

For example, in the year 2019, one of the prominent container handling equipment market players and Finnish lifting solutions provider Konecranes acquired one of largest crane service companies in Italy, Italian Trevolution Service SRL, specializing in crane modernizations, repairs, maintenance, spare parts and hoists, and components.

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Key Takeaways from Market Study

By propulsion, electric/hybrid container handling equipment sales to soar, expanding at around 4% CAGR
Automated stacking cranes demand to experience substantial growth, generating over 40% revenue
U.S market to expand at a CAGR of 2.4%, attributed to increasing port infrastructure development
U.K to account for over 1 out of 5 sales of container handling equipment in Europe
East Asia to generate a total incremental opportunity of about US$ 176.5Mn
South Asia likely to generate US$ 280 Mn incremental opportunity through 2031

Key Points Covered in Container Handling Equipment Industry Analysis

Market estimates and forecast 2016-2031
Key drivers and restraints impacting market growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Market Share Analysis
Key Product Innovations and Regulatory Climate
COVID-19 Impact on Container Handling Equipment Market and How to Navigate
Recommendation on Key Winning Strategies

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This release was published on openPR.