Press release
Cargo Handling Equipment Market Size Projected To Reach $37.32 Billion By 2034 With A Cagr Of 6.4%
Cargo Handling Equipment
What Is the Projected Growth of the Cargo Handling Equipment Market?
The cargo handling equipment market has experienced strong growth in recent years. It will grow from $27.33 billion in 2024 to $29.14 billion in 2025, with a CAGR of 6.6%. The growth is attributed to industrialization, eco-friendly equipment, safety and environmental regulations, air freight development, and expansion of global shipping routes.
The cargo handling equipment market is forecasted to grow to $37.32 billion by 2029, at a CAGR of 6.4%. Key factors include a shift to electric cargo vehicles, demand for green equipment, changes in consumer preferences, enhanced security, and cost reduction efforts. Trends include RFID integration, 3D printing, AI adoption, and blockchain integration.
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What Are the Different Cargo Handling Equipment Market Segments?
The cargo handling equipment market covered in this report is segmented -
1) By Equipment Type: Aviation Dollies, Stacker, Pallet Jacks, Loaders, Conveyor System, Automated Guided Vehicle, Forklift Trucks, Cranes, Rubber Tired Gantry Cranes, Other Equipment Types
2) By Technology: Manual, Semi-Automated, Fully Automated
3) By Propulsion Type: Diesel, Electric, Other Propulsion Types
4) By Application: Air Cargo, Marine Cargo, Land Cargo
5) By End User: Automotive, Consumer And Retail, Energy Resources, Manufacturing, Transportation, Other End-Users
Subsegments:
1) By Aviation Dollies: Aircraft Towing Dollies, Pushback Dollies, Cargo Dollies
2) By Stacker: Manual Stackers, Electric Stackers, Semi-Electric Stackers
3) By Pallet Jacks: Manual Pallet Jacks, Electric Pallet Jacks, High-Lift Pallet Jacks
4) By Loaders: Front-End Loaders, Telescopic Loaders, Articulated Loaders
5) By Conveyor System: Roller Conveyors, Belt Conveyors, Chain Conveyors, Pneumatic Conveyors
6) By Automated Guided Vehicle (AGV): Laser-Guided AGVs, Vision-Guided AGVs, Magnetic Tape AGVs
7) By Forklift Trucks: Electric Forklifts, Internal Combustion Forklifts, Reach Trucks, Pallet Forklifts
8) By Cranes: Overhead Cranes, Gantry Cranes, Jib Cranes, Tower Cranes
9) By Rubber Tired Gantry Cranes (RTG): Standard RTG Cranes, Electric RTG Cranes, Hybrid RTG Cranes
10) By Other Equipment Types: Dock Levelers, Container Handling Equipment, Lifting Tables, Palletizers
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What Are the Primary Drivers Shaping the Cargo Handling Equipment Market?
The growth in import and export activities is anticipated to drive the cargo-handling equipment market forward. These activities, involving the buying and selling of goods and services between countries, are rising due to global trade. Cargo-handling equipment boosts these activities by improving efficiency, safety, speed, capacity utilization, and the ability to handle various cargo types. For example, the value of goods exported from the US to the UK increased by 21.5% in 2022, reaching $157.1 billion, as reported by the International Trade Administration. Thus, the increase in import and export activities is supporting the cargo-handling equipment market.
Which Companies Are Leading in the Cargo Handling Equipment Market?
Major companies operating in the cargo handling equipment market are Siemens AG, ABB Ltd., Komatsu Ltd., Toyota Industries Corporation, HD Hyundai Heavy Industries Co. Ltd., Liebherr-International Deutschland GmbH, KION Group AG, Sany Heavy Industry Co. Ltd., Doosan Industrial Vehicle BG, Jungheinrich AG, Mitsubishi Logisnext Co. Ltd., Wallenius Wilhelmsen Logistics ASA, Shanghai Zhenhua Heavy Industries Company Limited, Corporation, Crown Equipment Corporation, Cargotec Oyj, Hyster-Yale Materials Handling Inc., Konecranes Oyj, Anhui Heli Co. Ltd., Hangcha Group Co, Manitowoc Company Inc., John Bean Technologies Corporation, Kalmar Corporation, The Taylor Group Inc, and CVS ferrari S.P.A
What Are the Latest Developing Trends in the Cargo Handling Equipment Market?
Major players in the cargo handling equipment market are introducing advanced electric and hybrid forklifts to improve efficiency and sustainability. For example, in May 2023, Toyota Material Handling launched three electric forklift models, including the Side-Entry End Rider, Center Rider Stacker, and Industrial Tow Tractor. These models feature smooth AC drive motors, operator comfort adjustments, and optional cold storage conditioning, offering efficient, customizable solutions for material handling tasks.
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What Are the Top Revenue-Generating Geographies in the Cargo Handling Equipment Market?
Asia-Pacific was the largest region in the cargo handling equipment market in 2023. The regions covered in cargo handling equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cargo Handling Equipment Market?
2. What is the CAGR expected in the Cargo Handling Equipment Market?
3. What Are the Key Innovations Transforming the Cargo Handling Equipment Industry?
4. Which Region Is Leading the Cargo Handling Equipment Market?
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