Container Handling Equipment Market to hit US$ 11.3 billion by 2028, growing at a CAGR of 6.8%

Container Handling Equipment Market

The global container handling equipment market was valued at US$ 7.6 billion in 2020 and is expected to reach US$ 11.3 billion by 2028, growing at a CAGR of 6.8% during the forecast period. The growth of the market can be attributed to the increasing demand for containerized cargo transportation, which is more efficient and cost-effective compared to traditional transportation methods. Moreover, the rising investments in port infrastructure, expansion of the Panama Canal, and the development of new ports in emerging economies are expected to further boost the market growth in the coming years.

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Container handling equipment refers to machinery and equipment used for loading, unloading, and moving containers in ports and shipping terminals. The container handling equipment market has seen substantial growth in recent years due to increasing global trade and the demand for efficient transportation systems. The market comprises several types of equipment, including cranes, straddle carriers, reach stackers, and terminal tractors. This research report aims to provide an overview of the global container handling equipment market, including its size, growth prospects, key drivers, challenges, and competitive landscape.

Container Handling Equipment Market: Dynamics

The growing emphasis on precaution for labors on production floor, increasing need of automation in different industry, rising e-commerce industry will continue to encourage the containers handling equipment. The increase in trade activities between nations across geographical regions is projected to augment transportation of commodity materials which in turn is expected to fuel the demand of container handling equipment.  Another significant influencing dynamic is investments in the marine and logistics infrastructure. As mentioned above, there is an increasing container handling trend, which is expected to accelerate over the forecast period. With growing water and air business transportation between economies, container handling equipment market is also propelling.

Additional capital cost associated with containers handling equipment expected to hinder the growth of material handling equipment market. Furthermore, when an integrated container handling equipment installed in any industry, failure in any portion of equipment lead to downtime of production system. Furthermore, high maintenance of equipment is also become a factor to hampering market growth.

Market Key Players-
• Port Finance International B.V.
• GEA Group
• Cargotec Corporation
• Nilkamal Limited
• VDL Groep bv
• HYSTER
• Port Equipment Manufacturers Association, PEMA
• Timars container handling equipment
• Taylor Machine Works Inc.( The Taylor Group of Companies)
• Cargotec
• Satomas
• TANDEMLOC, Inc
• STEELBRO
• ELME Spreader
• Stinis®
• PINTSCH BUBENZER GMBH
• Amzone International Ltd.

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Market Segmentation:

The container handling equipment market can be segmented based on equipment type, propulsion type, and application.

• By equipment type, the market can be divided into cranes, straddle carriers, reach stackers, terminal tractors, and others.
• By propulsion type, the market can be categorized into diesel, electric, and hybrid.
• By application, the market can be segmented into port terminals, intermodal yards, and others.

Introduction:

Container handling equipment refers to machinery and equipment used for loading, unloading, and moving containers in ports and shipping terminals. The container handling equipment market has seen substantial growth in recent years due to increasing global trade and the demand for efficient transportation systems. The market comprises several types of equipment, including cranes, straddle carriers, reach stackers, and terminal tractors. This research report aims to provide an overview of the global container handling equipment market, including its size, growth prospects, key drivers, challenges, and competitive landscape.

Market Size and Growth: The global container handling equipment market was valued at USD 7.6 billion in 2020 and is expected to reach USD 11.3 billion by 2026, growing at a CAGR of 6.8% during the forecast period. The growth of the market can be attributed to the increasing demand for containerized cargo transportation, which is more efficient and cost-effective compared to traditional transportation methods. Moreover, the rising investments in port infrastructure, expansion of the Panama Canal, and the development of new ports in emerging economies are expected to further boost the market growth in the coming years.

Market Segmentation: The container handling equipment market can be segmented based on equipment type, propulsion type, and application. By equipment type, the market can be divided into cranes, straddle carriers, reach stackers, terminal tractors, and others. By propulsion type, the market can be categorized into diesel, electric, and hybrid. By application, the market can be segmented into port terminals, intermodal yards, and others.

Regional Analysis:

Based on geography, the global container handling equipment market can be segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific dominated the market in 2020, accounting for over 50% of the market share, owing to the presence of several major ports in the region and the increasing trade activities. North America and Europe are also expected to witness significant growth during the forecast period, owing to the rising investments in port infrastructure and the increasing demand for containerized cargo transportation.

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Challenges:

The container handling equipment market faces several challenges, including the high cost of equipment, environmental concerns, and the increasing competition. Moreover, the COVID-19 pandemic has also impacted the market, with the slowdown in global trade and the disruptions in supply chain affecting the demand for container handling equipment.

Conclusion:

The global container handling equipment market is expected to witness significant growth in the coming years, driven by the increasing demand for containerized cargo transportation and the rising investments in port infrastructure. However, the market also faces several challenges, including the high cost of equipment and environmental concerns. The key players in the market are focusing on expanding their product portfolio and strengthening their market position through mergers & acquisitions and partnerships.

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