Port & Material Handling Equipment Vehicle Market Forecasted to Grow at 5.0% CAGR, Reaching US$ 34.1 billion by 2031 - TMR Study

The global port & material handling equipment vehicle market is set to witness robust growth, with a valuation of US$ 21.9 billion in 2022 and a projected Compound Annual Growth Rate (CAGR) of 5.0% from 2023 to 2031, reaching an estimated US$ 34.1 billion by the end of 2031. This comprehensive market research study delves into the intricacies of the port & material handling equipment vehicle sector, analyzing market size, growth trends, key players, competitive landscape, consumer behavior, emerging technologies, regulatory environment, and future outlook. As international trade expands and e-commerce burgeons, the demand for efficient material handling equipment at ports is on the rise.

Market Overview:

The growth of e-commerce, coupled with increased export and import activities, is anticipated to be the driving force behind the global port & material handling equipment vehicle market. The constant upgrade of infrastructure and industrial facilities, alongside a surge in international trade, is expected to propel market expansion. The development of electric port & material handling equipment vehicles presents lucrative opportunities, with manufacturers focusing on hydrogen fuel cell-powered vehicles and cutting-edge technologies to align with global net-zero targets.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 (𝐔𝐬𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐌𝐚𝐢𝐥 𝐈𝐝 𝐟𝐨𝐫 𝐐𝐮𝐢𝐜𝐤 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=81178&utm_source=OpenPR_Ganesh&utm_medium=OpenPR

Global Port & Material Handling Equipment Vehicle Market Dynamics:

1. Rise in International Trade: The global economy has witnessed dynamic growth, accompanied by an even faster increase in global trade. With a 12% rise in global merchandise trade in 2022, reaching US$ 25.26 trillion, the demand for efficient port & material handling equipment vehicles is fueled by the intricate global network of economic relationships and the surge in international trade.

2. E-commerce and Logistics Sector Boom: The rapid growth of the e-commerce industry and the global logistics and supply chain sector is a primary driver for the port & material handling equipment vehicle market. Governments, especially in developing nations, are investing significantly in manufacturing sectors to enhance export activities, contributing to the increasing demand for material handling equipment.

3. Construction Activities and Forklift Trucks: The dominance of forklift trucks in the market is attributed to economic growth and increased spending on infrastructural and construction activities. Forklift trucks play a pivotal role in material handling, making them a crucial segment in the port & material handling equipment vehicle market.

4. Electrification & Automation Trend: The electric/battery segment, with the largest market share in 2022, is driven by the electrification and automation of ports. Many ports worldwide are implementing autonomous and semi-autonomous systems, emphasizing the need for environmentally friendly equipment to achieve global net-zero targets.

Regional Outlook:

Asia Pacific: The leading region in terms of volume and revenue in 2022, Asia Pacific remains a technology and innovation leader with countries such as Japan, China, India, South Korea, and Singapore. The region's fast-growing technology companies, coupled with significant investments in manufacturing, position it as a key contributor to the global port & material handling equipment vehicle market.

Analysis of Key Players:

The global port & material handling equipment vehicle market is characterized by consolidation, with a multitude of manufacturers controlling significant market share. Key players, including ABB, Kalmar, Liebherr, and Konecranes, are strategically investing in research and development, expanding product portfolios, and launching new products to stay competitive in the market.

Key Developments:

In July 2023, Liebherr collaborated with ZHD Stevedores to develop all-electric CBG 500 E cranes, equipped with state-of-the-art drive technologies and an energy recovery system, catering to bulk handling applications.
In October 2023, Kalmar and GMP signed an agreement to supply four hybris straddle carriers, contributing to GMP's strategic goals by reducing its carbon footprint.

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 | 𝐈𝐦𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐃𝐞𝐥𝐢𝐯𝐞𝐫𝐲 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐚𝐭 - https://www.transparencymarketresearch.com/checkout.php?rep_id=81178<ype=S&utm_source=OpenPR_Ganesh&utm_medium=OpenPR

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