The increase in cargo transportation and need for automation to handle increased cargo volumes is expected to drive the market for cargo handling equipment.
The cargo handling equipment market is projected to grow at a CAGR of 3.61%, during the forecast period, to reach a market size of USD 28.02 billion by 2025 from an estimated USD 21.85 billion in 2018. Increased seaborne trade and increase in trends such as E-commerce are the key drivers for this market. However, the high capital costs of cargo handling equipment and lack of synchronization among different equipment can hinder the growth of the market.
The marine cargo segment is projected to grow at the highest rate during the forecast period.
The marine cargo segment is estimated to be the fastest growing market during the forecast period. According to UNCTAD, marine cargo volumes are estimated to grow at an assessed CAGR of 3.2% between 2017 and 2022. Cargo flows are set to expand across all segments, with containerized and major dry bulk commodities trades recording the fastest growth. Furthermore, increasing number of small and medium ports will drive the market for marine cargo handling equipment at the fastest CAGR.
The land cargo segment is projected to account for the largest market share of cargo handling equipment market.
The land cargo equipment market is estimated to account for the largest market share. Increased industrialization in the Asia Pacific region has fueled the growth of warehouses and distribution centers. Hence, the demand for cargo handling equipment in the warehouses is increasing across the region. Additionally, increased goods production across the globe is driving the demand for cargo movement. All the above factors are driving the market for land cargo
Asia Pacific: The largest and the fastest growing container handling equipment market from 2018 to 2025.
The market in Asia Pacific is expected to lead the cargo handling equipment market, in terms of value, during the forecast period. Countries such as China, Japan, Singapore, and India are the key markets for such equipment. As per the World Shipping Council, of the top 10 container port terminals in terms of maximum volume in 2015, 7 are located in China with a capacity of around 130.2 million TEUs annually, followed by Singapore, South Korea, and the UAE. Furthermore, the ports of Shanghai (China), Singapore, Shenzhen (China), Hong Kong, S.A.R. (China), and Busan (South Korea) handle more than 19 million TEU annually. Additionally, the increase in industrial production and the increase in air cargo movement in countries such as India, China, and Japan offer potential for the growth of this market.
BREAKDOWN OF PRIMARIES
The study contains insights provided by various industry experts, ranging from equipment manufacturers, shipping authorities, and distributors. The break-up of the primaries is as follows:
By Company Type: Equipment Manufacturers- 58%, Shipping Authorities- 25%, and Distributors- 17%
By Designation: Manager level- 67%, C-Level- 16%, and Others-17%
By Region: Europe- 42%, Asia Pacific- 42%, North America- 8% and ROW-8%
The report provides detailed profiles of the following companies:
JBT corporation (US)
Toyota industries (Japan)
Anhui Heli (China)
Kion Group (Germany)
The primary objective of the study is to define, describe, and forecast the cargo handling equipment market by equipment type, propulsion type, application, air cargo, land cargo and marine cargo and region. The equipment type, propulsion type, and application markets are further segmented into regions. While air cargo, land cargo, and marine cargo markets are further segmented by equipment used in each application respectively. It analyzes the opportunities offered by various segments of the market to stakeholders. It tracks and analyzes the market share of the key industry participants and competitive developments such as, expansions, joint ventures, acquisitions, and other industrial activities carried out by the key players.
Reasons to buy this report
The study provides qualitative and quantitative analyses of the various cargo equipment types in terms of value (USD million) and volume (units).
The 10 key companies that have a significant impact on the market have been profiled along with their financial structures, recent developments, and product portfolios.
The study provides qualitative and quantitative analyses of various cargo handling equipment types by application such as air, land, and marine cargo.
The study provides analyzes the cargo handling equipment market segmented on the basis of propulsion type.
The report provides the competitive landscape analysis, which includes the market share analysis of leading players along with the dominant strategies adopted by them to retain their positions.