Cargo Handling Equipment Market Analysis, Technical Study And Business Opportunities To 2031

The global cargo handling equipment market is projected to experience a healthy growth rate of over 3.05% during the forecast period 2022-2029. The market was valued at approximately USD 23.30 billion in 2021.

Cargo handling equipment is crucial for efficient and safe material handling in ports, especially for shipping containers. Various types of cargo handling equipment include top handlers, side handlers, reach stackers, straddle carriers, gantry cranes, forklifts, terminal tractors, and yard trucks, among others.

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The market growth is primarily driven by the increasing growth of cross-border e-commerce trade and the expansion of cross-border trade activities in the post-COVID era. The global cross-border e-commerce market was valued at USD 579 billion in 2019, and it is projected to reach USD 2.25 trillion by 2026. The market is also supported by the growing adoption of workflow automation and the increase in cross-border free trade agreements between countries.

However, the market growth may face challenges due to stringent emission norms and high deployment and maintenance costs throughout the forecast period.

In terms of regional analysis, North America dominates the cargo handling equipment market in revenue, attributed to the presence of leading market players and the growth of cross-border trade in the post-pandemic era. On the other hand, Asia Pacific is expected to exhibit the highest compound annual growth rate (CAGR) during the forecast period. This growth is driven by the expansion of port and shipping infrastructure in the region and the increasing growth of cross-border e-commerce trade.

Some of the major players in the global cargo handling equipment market include Hangcha Forklift, Siemens Logistics GmbH, TOYOTA INDUSTRIES CORPORATION, Corporation, Anhui Heli, Textron Ground Support Equipment Inc., Liebherr-International GmbH, TLD, KION GROUP AG, and ABB.

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Recent developments in the market include the Namibian Ports Authority's procurement of cargo handling equipment worth N$17 million in March 2022 to enhance operational efficiency at its ports. The equipment was procured from Liebherr-Africa and Forklifts and Allied Equipment cc.

The report provides an extensive scope of the market, including historical data from 2019-2021 and a forecast period from 2022-2029. It covers aspects such as revenue forecasts, company rankings, competitive landscape, growth factors, and trends. The market is segmented based on propulsion (diesel, electric, and others), equipment type (conveyor, forklift truck, aviation dolly, AGV, crane, RTG, and others), application (marine cargo, air cargo, and land cargo), and region (North America, Europe, Asia Pacific, Latin America, and Rest of the World).

The objective of the study is to define market sizes for different segments and countries in recent years and forecast their values for the coming years. The report incorporates both qualitative and quantitative aspects of the industry, analyzing driving factors, challenges, opportunities, and the competitive landscape. Additionally, the report offers customization options for country, regional, and segment scope.

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