Cargo Handling Equipment Market Growth, Landscapes and Trend Report

“Cargo Handling Equipment Market Outlook 2024: Global Opportunity And Demand Analysis, Market Forecast, 2018-2024” presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and deal landscapes.

Top Leading Companies: ABB Group, Pioneer Corporation, Liebherr Group, Kalmar Global, Toyota Industries Corporation, Hyundai Heavy Industries, Seehafen Wismar GmbH, Terex Corporation, JBT Corporation, Johnson Taylor Forklifts, Konecranes Plc

This report provides a detailed analysis of the Cargo Handling Equipment market with description of market sizing and growth, segmentation of market by products & services and major markets, top market players etc. The report recapitulates the factors that will be responsible for the growth in the market in the forecasted period.

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This independent 250 pages report guarantees you will remain better informed than your competition. With tables and figures examining the Cargo Handling Equipment market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2024.

Market Overview:

The global cargo handling equipment market is growing exponentially on the back of increasing container traffic on airports and marine ports. Cargo handling involves managing the storage and logistics of goods & products to manufacturing facilities, distribution centers and warehouses. More than 90% of general cargo trades today are containerized. Most of the containerized cargo is handled by the cranes, forklifts or by the deck cranes and other ship’s own cargo gears. Stringent fuel emission norms and initiative by the different governments to replace diesel combustion engines with hybrid and electric equipments, expected to impel the demand for electric cargo handling equipments. Also, increasing awareness among service providers and cargo equipment operators towards electrification cargo operations, also expected to strengthen the market growth. The considerable growth projection of the airport cargo handling equipment market can be attributed to the increasing air passenger and cargo traffic. In 2016, more than 195,000 (Million Tons-Km) of cargo is transported through aircrafts which is projected to cross 300,000 (Million tons-km) by 2024. Both airline operators and airport authorities are focusing on implementation of advanced cargo handling equipments to meet the rising air cargo traffic and to ensure greater profitability and efficiency. Increasing cargo traffic at marine and airports indicates immense potential growth opportunities for cargo handling equipment market. Increased affinity can be seen in end-use industries to procure cargo handling equipments on lease or rent. Thus, rental based cargo handling equipments would push the end-users to use advanced material handling equipments.

Market Size and Forecast:

The global cargo handling market accounted for USD 62.5 billion in 2015 owing to increased trading across the globe and rising e-commerce business. Global cargo handling equipment market is projected to expand at a compound annual growth rate of 4.4% over the forecast period i.e. 2016-2024 and expected to reach USD 89.4 billion by the end of 2024.
Cargo handling trucks and tractors are the most widely used cargo handling equipments globally, accounted for more than 54% of total equipments sale, in 2015. The automated guided vehicles and small automated retrieval equipments are expected to garner fastest growth by 2020, as major air and marine ports across the globe use more sophisticated logistic techniques to increase their efficiency and productivity.
Asia-pacific region dominated the global cargo handling equipment market with more than 36% market share in 2016. Asia-pacific region continue to maintain its position with 4.2% annual growth in cargo traffic at major ports in Asia. On the other hand, Australia maintained growth rate of 9.1%, although its growth rate slowed down after 2014. Also, the number of airplanes fleet in Asia-Pacific is expected to increase by 35% over the forecast period. Likewise, North-America region contributed more than 28% share in global cargo handling equipment market closely followed by Europe with more than 24% market share in 2016. Major European ports achieved y-o-y growth rate of 3.7% in cargo traffic at marine ports, which expected to impel the growth of cargo handling equipment market in Europe.

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Market Drivers and Challenges:

Growing air and marine cargo traffic owing to rising e-commerce in developing countries and trading between different countries are the key factors driving the growth of global cargo handling equipment market. The world trade continued to expand in 2015 with 2.7% annual growth from 2014. Demand of air cargo registered annual growth of 1.9% in 2016 and expected to grow in coming years owing to considerable world economic and trade growth. The global air cargo traffic is estimated to grow on an average of 4.1% per year over the next 20 years. In 2015, significant growth is witnessed in the delivery of ship-to-shore cranes, Europe accounted for the largest regional market with 47 new STS cranes. Deliveries to Asia-Pacific region dropped by 65%, following completion of some major projects in China and Korea. However, rail mounted gantry crane (RMG) segment witnessed growth of 145%, with 198 new RMG cranes delivered globally. Moreover, of the total cranes delivered, 11% were identified as E-RTG or the crane variant powered by electricity rather than fossil fuels to curb the carbon emission. E-commerce business projected to grow more than double over the next 5 years, rising from USD 1.7 trillion to USD 3.6 trillion by 2020. In the U.S., e-commerce sales has grown 15% per year over the last 15 years and reached USD 342 billion in 2015. On the other hand, Asia-Pacific is the fastest growing e-commerce market, with China dominating the region. In 2010, online retail sales in China were half of the U.S. and surpassed the U.S total number of sales, rising at an average of 56% per year. However, high initial investments and high maintenance cost expected to hinder market growth over the forecast period.

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Cargo Handling Equipment Market Report Covered Insights Of Below Mentioned Regions:

– North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
-Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
-Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
-Asia-Pacific (China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market —Size, Growth Analysis and Opportunity Analysis}
-Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
-Rest of World {Market Size, Growth Analysis and Opportunity Analysis}

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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