Cargo Handling Equipment Market

Global Cargo Handling Equipment Market Size (2023 to 2028)

The global cargo handling equipment market has been valued at USD 29.22 billion in 2023 and it is anticipated to reach a valuation of USD 37.83 billion by 2028, growing with a healthy CAGR of 5.30% from 2023 to 2028.

Due to globalization and industrialization, foreign trade in bulk commodities has increased considerably, with transport through containers by air, sea, and road. To load and unload containers at air cargo terminals, seaports, and other logistics stations, container handling equipment is considered a viable option. Besides, container handling equipment, such as trucks, cranes, forklifts, and others, has completed the process of moving goods from one location to another with less complexity. The aspect of container cargo handling on ships and planes becomes critical and requires containers to handle the equipment. With the evolution of technology, container handling equipment is also automated and recognized as a significant trend in the container handling industry.

MARKET DRIVERS: 

• Increase in maritime freight transport
• Increased demand for air cargo transport
• Increased demand for land transportation of goods
• Increase in the transport of products around the world
• Increased rigor in emissions regulations.
• Increasing Automation of Load Handling Equipment to Open Doors for Technology Suppliers.

MARKET RESTRAINTS:

• High investment costs for material handling equipment
• Accidents related to the use of cargo handling equipment
• Lack of synchronization between different port facilities

REPORT COVERAGE:

This research report on the global cargo handling equipment market has been segmented and sub-segmented into the following categories. 

Cargo Handling Equipment Market - By Equipment:

• Conveyors
• Forklift Truck
• Aviation Dolly
• Pallet Jack
• AVG
• Crane
• RTG
• Loader
• Stacker
• Straddle Carrier
• Terminal Tractor
• Propulsion

The market share of the RTG segment is outstanding because of its intensive use in seaports for intermodal transport. It is expected that the sector will grow at a significant growth rate and will likely remain predominant over the forecast period. RTGs are efficiently powered mobile vehicles that offer low operating costs and less noise.

Cargo Handling Equipment Market - By Application:

• Air
• Land
• Marine

The marine applications sector leads the handling vehicle market. This is due to the increased trade in goods and materials via the sea and the oceans, with maritime trade being ideal for the mass transport of goods. Besides, the large mass can be easily transported using a handling vehicle. This, in turn, is expected to boost the market for vehicles for cargo handling equipment during the forecast period.

Cargo Handling Equipment Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America 
• Middle East and Africa 

MARKET KEY PLAYERS:

Anhui Heli, Emerson Electric, Gantrex, Hangcha Group Co., Mallaghan Engineering, Mitsubishi, Sany, Shanghai Zhenhua, Heavy Industries, Siemens AG, Tec Containers, Teleflex Lionel-Dupont, Terex, Toyota Industries, Tug Technologies. They are playing a dominant role in the cargo-handling equipment market.

MARKET TARGET GROUP:

• Manufacturers of material handling equipment.
• Distributors and distributors of material handling equipment.
• air cargo associations
• Manufacturers of air cargo equipment.
• Global associations of industrial vehicles and cargo handling
• Government and regulatory authorities.
• Research and counseling associations.

MARKET KEY POINTS:

1. A full context analysis, which includes an evaluation of the parent market
2. Significant changes in market dynamics.
3. Segmentation of the market to the second or third level.
4. The historical, current, and projected market size in terms of value and volume.
5. Report and evaluation of the latest developments in the industry.
6. Market shares and strategies of the leading players.
7. Segments of emerging niches and regional markets.
8. An objective assessment of the market's trajectory.
9. Recommendations for companies to strengthen their presence in the market.