New York, United States, Feb. 29, 2024 (GLOBE NEWSWIRE) -- The loading, unloading, handling, stacking, unstacking, storing, or maintaining (including repairing) of containers are referred to as container handling. CHEs are used in terminals to transport containers from one location to another. Using trucks, cranes, hoists, and other container-handling machinery makes moving things from one place to another less complicated.
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Growing Emphasis on the Electrification of Container Handling Equipment Drives the Global Market
According to Straits Research, “The global container handling equipment market size was valued at USD 7.04 billion in 2021. It is projected to reach USD 10.16 billion by 2030, growing at a CAGR of 4.16% during the forecast period (2022-2030).” Due to increased demands from authorities and growing uncertainty over fossil fuel sources and their prices, the search for alternative fuels has expanded over time to encompass mobile equipment used for stacking and transferring containers at terminals in addition to container cranes. Over the past ten years, there has been a tremendous advancement in the drive trains for mobile equipment utilized at container terminals. For stacking tasks, there is a tendency to employ rubber-tired gantry cranes and electric-powered, rail-mounted stacking cranes (RTG). Eco-efficiency has become more critical in the material handling and shipping industries. As ports and terminals worldwide attempt to improve energy efficiency and lower emissions, electrification is the most recent trend to hit the industry. As governments focus on reducing their emissions, it is projected that the use of electric and hybrid-electric containers will increase in the following years.
Regional Analysis
Asia-Pacific container handling equipment market share is expected to grow at a CAGR of 4.18% during the forecast period. India is one of the critical countries in the Asia-Pacific region, and its economic growth helps boost trade. Due to the reduction in imports and exports, the Indian government has planned to invest in building ports around the country. The expansion of industry, the construction of new ports, and the establishment of Special Economic Zones are all expected to boost demand for container handling equipment in India. China is expected to experience a higher automation trend in container terminals over the projection period. However, due to its rapid industrial growth and exports of container handling equipment, China is positioned to see the most considerable growth rate during the anticipated timeframe.
Europe is expected to grow at a CAGR of 4.15%, during the forecast period. Bremerhaven, Wilhelmshaven, and Hamburg serve as transshipment, gateway, and hub ports for all forms of goods in Germany. In addition to its busy seaports, Germany has a large number of notable inland ports that serve as entrances to inland waterways. In addition, the United Kingdom is investing a lot in port development projects to become a central hub for marine trade in the European region.
North America is anticipated to grow significantly over the forecast period. The market for container handling equipment is growing in the United States as a result of the country's economy's rapid expansion and rising capital spending. The second-largest importer in the world, the United States, has a sizable trade deficit. Despite having the capacity to produce almost all of its imports, the United States frequently pays significantly less when buying from other countries. As a result, ports have expanded across the country. The country is projected to see the fastest growth in electric container handling equipment since it has well-developed EV infrastructural facilities and the government promotes the development of electric automobiles.
Key Highlights
- Based on equipment type, the global container handling equipment market is bifurcated into forklift trucks, stacking cranes, mobile harbor cranes, and rubber-tired gantry cranes. The forklift truck segment is the highest contributor to the market and is expected to grow at a CAGR of 4.16% during the forecast period.
- Based on propulsion type, the global container handling equipment market is bifurcated into diesel, electric, and hybrid. The diesel segment is the highest contributor to the market and is expected to grow at a CAGR of 3.23% during the forecast period.
- Asia-Pacific is the most significant shareholder in the global container handling equipment market and is expected to grow at a CAGR of 4.18% during the forecast period.
Competitive Players
The global container handling equipment market’s major key players are Cargotec Corp., Liebherr-International AG, Sany Group, Shanghai Zhenhua Heavy Industries Co. Ltd (ZPMC), Hyster-Yale Materials Handling Inc., Anhui HELI Forklifts Group Co. Ltd, Hoist Material Handling Inc., CVS Ferrari SpA, Lonking Holdings Limited, and Konecranes.
Market News
- In April 2022, Liebherr unveiled the LH 150 M Port E handling device at Bauma 2022. It is specially designed for handling scrap and mixed cargo in ports and is equipped with an electric drive and a new mobile gantry undercarriage.
- In October 2022, Cargotec announced the launch of the camera system HiVision 2.0 for forestry cranes and improvements to HiVision for MULTILIFT demountables, which are used to operate equipment from inside the truck cabin.
Global Container Handling Equipment Market: Segmentation
By Equipment Type
- Forklift Truck
- Stacking Crane
- Mobile Harbor Crane
- Rubber Tired Gantry Crane
By Drive Mechanism
- Diesel
- Electric
- Hybrid
By Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
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