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Evolving Market Trends In The Port & Material Handling Equipment Vehicle Industry: Companies Introducing Innovative Solutions With Advanced Technologies For Enhanced Efficiency In Port And Material Handling
Port & Material Handling Equipment Vehicle
What Is the Projected Growth of the Port & Material Handling Equipment Vehicle Market?
The port & material handling equipment vehicle market has seen strong growth in recent years. It will increase from $22.99 billion in 2024 to $24.41 billion in 2025, reflecting a CAGR of 6.2%. This expansion can be linked to factors like the global expansion of trade, increasing containerization, growth in e-commerce and logistics, port infrastructure development, and a focus on safety, ergonomics, and environmental regulations.
The port & material handling equipment vehicle market is expected to expand steadily, reaching $30.38 billion by 2029 at a CAGR of 5.6%, driven by autonomous vehicle adoption, green port development, digital transformation in ports, and tailored cargo handling. Key trends include container tech innovations, IoT integration, AI usage, advanced telematics, automation, and crane upgrades.
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What Are the Different Port & Material Handling Equipment Vehicle Market Segments?
The port & material handling equipment vehicle market covered in this report is segmented -
1) By Equipment Type: Tug Boats, Cranes, Shiploaders, Reach Stackers, Mooring Systems, Automated Guided Vehicles (AGVs), Forklift Trucks, Container Lift Trucks, Terminal Tractors, Other Equipment By Propulsion: Diesel, Gasoline, Electric/Battery, Other Propulsion
2) By Demand: New Demand, MRO(Maintenance, Repair, And Overhaul Or Services)
3) By Application: Container Handling, Ship Handling, Services, Storage Handling, Automated Storage Handling, Bulk Material Handling, Other Application
Subsegments:
1) By Tug Boats: Harbor Tug Boats, Ocean-going Tug Boats, Tug Boats
2) By Cranes: Mobile Cranes, Gantry Cranes, Ship-to-shore (STS) Cranes, Floating Cranes
3) By Shiploaders: Rail-mounted Shiploaders, Wheel-mounted Shiploaders
4) By Reach Stackers: Container Reach Stackers, Industrial Reach Stackers
5) By Mooring Systems: Conventional Buoy Mooring (CBM) Systems, Single Point Mooring (SPM) Systems
6) By Automated Guided Vehicles (AGVs): Container AGVs, Bulk Cargo AGVs, Hybrid AGVs
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What Are the Primary Drivers Shaping the Port & Material Handling Equipment Vehicle Market?
The growth of the e-commerce industry is expected to boost the port and material handling equipment vehicle market. As e-commerce grows, so does the need for efficient material handling equipment at ports and warehouses. In November 2023, the U.S. Census Bureau reported that U.S. retail e-commerce sales reached $271.7 billion in the third quarter of 2023, a 7.8% increase from the previous year, driving demand for port and material handling vehicles.
Which Companies Are Leading in the Port & Material Handling Equipment Vehicle Market?
Major companies operating in the port & material handling equipment vehicle market include American Crane & Equipment Corporation, Anhui Heli Co Ltd., Cavotec SA, CVS Ferrari SPA, Hyster-Yale Materials Handling Inc., Cargotec Corporation, Konecranes Oyj, Liebherr Group, Shanghai Zhenhua Heavy Industries Co Ltd, SANY Group, TIL limited, Timars Svets & Smide Ab, FAMUR FAMAK SA, McNally Bharat Engineering Company Ltd., Kalmar Global, Terberg Terberg Special Vehicles, Seacom, Forkliftcenter, Mantsinen, Toyota Industries Corporation, Hyundai Heavy Industries Co. Ltd., Manitou Group, Komatsu Ltd., J.C. Bamford Excavators Limited., Doosan Corporation, Volvo Construction Equipment, Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., TTS Group
What Trends Are Driving Growth in The Port & Material Handling Equipment Vehicle Market?
Technological advancements are becoming a significant trend in the port and material handling equipment vehicle market. Leading companies are focused on creating vehicles with advanced technologies to improve their market position. For example, in May 2022, Sweden-based Camblift launched its first reach stacker, which is available in electric and diesel versions with green fuel technology, offering a safe, ergonomic workplace and high production efficiency, and can be operated using clean energy.
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What Are the Top Revenue-Generating Geographies in the Port & Material Handling Equipment Vehicle Market?
The countries covered in the port & material handling equipment vehicle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Port & Material Handling Equipment Vehicle Market?
2. What is the CAGR expected in the Port & Material Handling Equipment Vehicle Market?
3. What Are the Key Innovations Transforming the Port & Material Handling Equipment Vehicle Industry?
4. Which Region Is Leading the Port & Material Handling Equipment Vehicle Market?
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