Global Container Handling Equipment Market
Global Container Handling Equipment Market Size Expands Steadily at CAGR of 4.52% to Reach USD 9.53 Billion by 2029
Published | 10 November 2023
Global container handling equipment market is flourishing due to an increasing demand for equipment driven by thriving global trade, increasing containerization of cargo, a growing focus on faster and safer cargo handling, and the need for enhanced supply chain efficiency.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global container handling equipment market size at USD 7.31 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global container handling equipment market size to grow at a CAGR of 4.52% reaching a value of USD 9.53 billion by 2029. Global container handling equipment is primarily driven by the increasing global trade and containerized cargo movement, as well as the growth of mega-container ships and ports. Automation and technological advancements in handling equipment, such as cranes and straddle carriers, are contributing to improved efficiency and productivity, further stimulating market growth. Also, infrastructure development projects and expansion plans at major ports and terminals, coupled with environmental concerns promoting eco-friendly equipment, are significant factors influencing the market's expansion. The demand for efficient and reliable container handling solutions to meet the rising freight volumes and enhance supply chain operations is another key driver for the market.
Container Handling Equipment – Overview
Container handling equipment refers to a range of specialized machinery and tools designed for efficient loading, unloading, and movement of shipping containers in ports, warehouses, and logistics facilities. These equipment types include container cranes, straddle carriers, reach stackers, forklifts, and conveyor systems. They play a crucial role in the global supply chain, facilitating the transport of goods within containers. Container handling equipment enhances productivity and reduces manual labor, ensuring the swift and safe transfer of containers between ships, trucks, and storage areas. This equipment is essential for the smooth operation of international trade and the transportation of goods worldwide.
Impact of COVID-19 on Global Container Handling Equipment Market
Global container handling equipment market faced significant disruptions due to the COVID-19 pandemic. Lockdowns, supply chain disruptions, and reduced trade activities resulted in decreased demand for container-handling machinery in 2020. Manufacturing delays, labor shortages, and logistical challenges also hampered equipment production and distribution. However, the market showed resilience with the gradual recovery of global trade, and the need for efficient container handling solutions became evident as ports and logistics companies sought to adapt to the new normal. As the pandemic wanes, the market is expected to gradually regain momentum, driven by evolving industry demands and technological advancements.
Global Container Handling Equipment Market – By Propulsion Type
By propulsion type, the global container handling equipment market is divided into Diesel, Electric, and Hybrid segments. These segments represent the primary power sources for the machinery used in handling containers across the industry. Diesel-powered equipment is known for its robustness and high torque, making it suitable for heavy-duty applications. Electric equipment is favored for its environmental friendliness and lower operating costs, while Hybrid solutions combine the benefits of both, offering a balance between power and sustainability. These three segments reflect the diverse choices available to meet the specific needs and priorities of businesses involved in container handling worldwide.
Global container handling equipment market is fiercely competitive. Major companies in the market include Kalmar, Konecranes, Liebherr Group, Hyster-Yale Materials Handling, SANY Group, Toyota Industries Corporation, Terex Corporation, Cargotec, Anhui Heli Co., Ltd, Shanghai Zhenhua Heavy Industries Co., Ltd, Hyundai Heavy Industries Co., Ltd, Mitsubishi Heavy Industries, Ltd, JBT Corporation, KION Group AG, and Clark Material Handling Company. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the global container handling equipment market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Container Handling Equipment Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in the Global Container Handling Equipment Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Container Handling Equipment Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Equipment Type (Automated Guided Vehicles (AGVs), Rail-mounted Gantry (RMG) Cranes, Rubber-tired Gantry (RTG) Cranes, Ship-to-Shore (STS) Cranes, Straddle Carriers, Terminal Tractors, Reach Stackers, Forklift Trucks); By Propulsion Type (Diesel, Electric, Hybrid); By End User (Ports, Inland Container Depots (ICDs), Container Freight Stations (CFSs)); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: November 2023
Increasing global trade and maritime transportation, growing containerized cargo volumes, expansion of ports and terminals, automation trends for efficiency, and infrastructure development are key factors stimulating the demand for container handling equipment worldwide contributing to the expansion of Global Container Handling Equipment Market during the forecast period between 2023 and 2029.
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