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Cargo Handling Equipment Market Analysis

ID: MRFR//8712-HCR | 160 Pages | Author: Snehal Singh| November 2024

The cargo handling equipment market operates within a dynamic framework influenced by various factors that shape its growth and development. Cargo handling equipment refers to a wide range of machinery and vehicles used for loading, unloading, and transporting goods at ports, airports, warehouses, and distribution centers. One of the primary drivers of market dynamics is the increasing global trade and logistics activities. With the expansion of international trade, e-commerce growth, and globalization, there is a rising demand for efficient and reliable cargo handling equipment to facilitate the movement of goods across supply chains. As industries continue to expand and adapt to changing consumer demands, the demand for cargo handling equipment is expected to grow, driving market expansion.


Technological advancements play a crucial role in shaping the competitive landscape of the cargo handling equipment market. Innovations in automation, robotics, and telematics have led to improvements in equipment efficiency, productivity, and safety. Advanced cargo handling equipment such as automated guided vehicles (AGVs), robotic arms, and conveyor systems enable faster and more accurate handling of goods, reducing labor costs and minimizing the risk of accidents and injuries. Moreover, the integration of IoT (Internet of Things) technologies and predictive maintenance systems allows operators to monitor equipment performance in real-time, optimize maintenance schedules, and minimize downtime, offering opportunities for market players to differentiate their offerings and add value to customers.


Market dynamics in the cargo handling equipment industry are also influenced by economic factors such as economic growth, infrastructure investment, and trade policies. Economic expansion and industrialization drive demand for cargo handling equipment in emerging markets, where governments are investing in port infrastructure, logistics hubs, and transportation networks to support economic development and international trade. Conversely, economic downturns or recessions may lead to reduced investment in infrastructure projects and lower demand for cargo handling equipment as industries cut back on capital expenditures. Moreover, fluctuations in currency exchange rates, trade tariffs, and geopolitical tensions can impact global trade flows and affect market demand for cargo handling equipment.


Environmental regulations and sustainability concerns are increasingly shaping the dynamics of the cargo handling equipment market. Cargo handling operations can have a significant environmental impact due to emissions, noise pollution, and energy consumption. As a result, governments and regulatory bodies are implementing stricter environmental regulations to reduce emissions, improve air quality, and promote sustainable practices in the logistics industry. Cargo handling equipment manufacturers are responding to these regulations by developing eco-friendly and energy-efficient equipment powered by electric, hybrid, and alternative fuels. Moreover, there is a growing demand for equipment with noise-reduction features, emission controls, and recyclable materials, driving innovation and market growth in sustainable cargo handling solutions.


Customer preferences and industry trends also influence market dynamics in the cargo handling equipment sector. End-users are increasingly seeking equipment that offers flexibility, scalability, and adaptability to changing operational requirements. Industry trends such as e-commerce fulfillment, just-in-time delivery, and omnichannel distribution are driving the demand for agile and versatile cargo handling solutions that can handle diverse types of goods and support rapid order fulfillment. Furthermore, the shift towards digitalization, data analytics, and supply chain optimization is creating new opportunities for cargo handling equipment manufacturers to develop smart and connected equipment that enhances operational efficiency and visibility across the supply chain.


The competitive dynamics within the cargo handling equipment market are characterized by intense rivalry among key players competing for market share and profitability. Market participants range from large multinational equipment manufacturers to smaller regional suppliers and service providers. Strategies such as product innovation, customization, and strategic partnerships are commonly employed by companies to differentiate their offerings and gain a competitive edge. Additionally, quality assurance, reliability, and after-sales support are essential for companies to maintain customer satisfaction and loyalty in a highly competitive market environment.


 

Covered Aspects:

Report Attribute/Metric Details
Segment Outlook Type, Mode of Propulsion, Application

Cargo Handling Equipment Market Overview


In 2020, the global cargo handling equipment market value is registered as USD 22.6084 billion and is anticipated to grow at a significant rate of 3.04% CAGR with themarket size of USD 27.4474 billion during the forecast period (2021-2028).


Cargo handling equipment is also known as Freight handling equipment that is used to transport cargo from one place to another. The versatility, rise in handling velocity, decrease in time and cost, security, and safety are the features provided by this equipment. This device can be powered with diesel, electricity, or a combination of both. In the previous days, cargo transportations are limited to ships. Later, it was grown to trucking, rail, and other logistical modes of transit.


Their different forms include various types such as stackers, pallet jacks, aviation dollies, conveyor systems, loaders, automated guided vehicles, cranes, forklift trucks, rubber-tired gantry cranes, reach stackers, straddle carriers, and terminal tractors. Cargo handling equipment is used to transport goods and services in container ships. The use of this equipment in end-use industries has quickly bolstered the need for cargo handling equipment. Few vehicles are cargo cranes, yard tractors, container handlers, and forklifts for handling the equipment.


COVID-19 Analysis:


The COVID-19 outbreak has affected various industries severely. In the first two quarters of 2020, most of the business sectors like automobiles, food & beverages, electronic & electrical devices, transportation, and many more due to the continuous lockdowns. To control the spread of the coronavirus, most of the governments imposed stringent regulations like lockdowns, the shutdown of public places like restaurants, theatres, schools & colleges, transportation bans, and more.


The market is also impacted due to the COVID-19 pandemic. Due to the lockdowns, the manufacturing industries halt production due to the supply chain disruptions, lack of labor, and raw materials. After the introduction of the online process Cargo Handling Equipment Industry, the market is growing rapidly. It is anticipated that the market to grow at a significant rate during the forecast period.


Competitive Landscape


List of the prominent key companies in the cargo handling equipment market are the following:



  • Konecranes (Finland)

  • Terex Corporation (U.S)


  • Liebherr (Switzerland)

  • Hyster (U.S)

  • Toyota Industries (Japan)

  • Kion Group (Germany)


  • Mitsubishi (Japan)

  • Sany (China)

  • JBT Corporation (U.S)

  • Anhui Heli (China)

  • Kalmar (Finland)


  • Macgregor (Finland)


Cargo Handling Equipment Market Dynamics:


Drivers:


Rising import and export operations among countries and a thriving logistics industry are the growth factors of the cargo handling equipment market. The highly popular trailers are forklifts and tractors. The majority of the equipment runs on diesel that raises concerns about fuel dependency and pollution. As diesel emits carbon monoxide, it is a major source of transport.  The increase in seaborne trade, industrial production, and air cargo are the factors boosting the demand of the market.


To satisfy the rigorous emission requirements, equipment with improved fuel efficiency and lower emissions is in demand are the factors boosting the cargo handling equipment market growth. The growing interest in the marine business is propelling the market growth. Due to the productive conveyance of fragile assembling materials and different materials with low cost for the improvement of cutting-edge cargo dealing with hardware are accelerating the growth of the global market. Additionally, the little organizations are using freight delivery for exchange purposes and large organizations choose tramp delivery as they require more armada to run straight journeys and reduces the transportation costs which needs a few transportations are escalating the development of the market.


Restraint:


The cargo handling equipment is very expensive and the numerous associations that cannot use the expensive freight dealing with supplies are restraining the market growth.


Opportunities:


The expanding computerization in cargo handling with gear and the development of severity in outflow guidelines may create the opportunity to propel the cargo handling equipment market growth for the innovation providers.


Challenges:


Lack of synchronization between different port equipment, and accidents involving cargo handling systems are the challenges of the growth of the market.


Study Objectives -



  • To provide detailed information about the cargo handling equipment market structure along with various forecast segments, features, and subsegments for the next 10 years.

  • To provide the factors that are affecting the growth of the market value.

  • To analyze the market industry analysis based on porter’s five force analysis, factors-price analysis, supply chain analysis, etc.

  • To provide history and forecast revenue segments and sub-segments of the market revenue for the four main geographies.

  • To provide the country-level analysis of the current cargo handling equipment market size and future prospective.

  • To provide country-level analysis of the market industry growth by region, form, and application.

  • To provide a strategic profile of the prominent key players in the market, analyze their core competencies, statistics, and draw a global market growth landscape.

  • To track and analyze new product developments, strategic alliances, and global market research.


Cargo Handling Equipment Market Segment Overview:


The global cargo handling equipment market has been divided into segments based on the type, mode of propulsion, application, and region.


Based on the Type


The global cargo handling equipment market by type is analyzed into various types such as forklift trucks, portable harbor cranes, stacking cranes, transport frameworks, and others. Out of these types, forklift trucks are holding the leading portion in the market.


Based on the Mode of Propulsion


The global cargo handling equipment market based on the mode of propulsion is classified into two different parts like diesel and electric. Out of these two methods, the diesel method accounts for the largest development in the market due to the low expense of diesel yard farm haulers. Several trucks and load marine in the ports are completely fueled by diesel motors. The diesel motors are used in various applications like trains and marine workboats as the diesel motors are providing better solidness and a long lifespan. The more advantages of diesel motors like proficiency, force, dependability, and execution are making it ideal to use in this equipment.


Based on Application


The global cargo handling equipment by the application is trifurcated into rail cargo, air load, marine cargo, and land cargo. Out of these applications, marine cargo is dominating the largest market share for its wide use in the holder ships. Due to the expansion of the use of freight ships, marine cargo is accelerating the development of the market.


Based on Region


Region-wise, the global cargo handling equipment market is divided into four main geographies like North America, Europe, Asia-Pacific, and the Rest of the World. Out of these regions, the Asia-Pacific region is accounting for the largest market share due to the growing innovative progressions and development in import and fares, development in web-based business is driving the growth in this region. 


Regional Analysis -


Geographically, the cargo handling equipment market based on the regions is fragmented into four main regions like Asia-Pacific, North America, Europe, and the Rest of the World. Among them, Asia-Pacific is dominating the largest market share for the increasing innovative progressions, development in import & fares, and development in web-based business are the factors driving the growth of the market in this region. Due to the development of import and fares of products and materials between various nations in this region is increasing the globalization. This globalization development subsequently expands the use of the market.


Owing to the rising interest for solid and competent hardware for holders, fast expansions in import and export, expanding online business are the few factors driving the global cargo handling equipment market in the Asia-Pacific region. According to the International Air Transport Association, the Asia-Pacific region is accounting for 37.4% of worldwide cargo movement.  Due to the growing industrialization of the area, North America is expected to hold a significant rate.


Recent Developments



  • On June 8, 2020, the two leading key players PayCargo and IBS Software decided to start the joint organization which permits API-based combination and also provides an upgraded computerized installment stage to cargo handling equipment to both the companies.

  • On February 4, 2020, the most popular enterprise California Air Resource Board (CARB) decided and dispatched zero outflow cargo gear in various applications like rail yards, conveyance focuses, air terminals, and others and this task raised the huge amount of venture $ 44 million.


Report Overview:


Globally, this cargo handling equipment market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the market drivers, restraints, challenges, and opportunities. The cargo handling equipment market forecast segments into four types as type, mode of propulsion, application, and region.


Cargo Handling Equipment Market Segmentation Table


The cargo handling equipment market trends have been segmented into four types globally based on the type, mode of propulsion, application, and region.


By Type


Forklift trucks, portable harbor cranes, stacking cranes, transport frameworks, and others are a few types of cargo handling equipment.


By Mode of Propulsion


Diesel and electric.


By Application


Air load, rail cargo, marine cargo, and land cargo.


By Region


Asia-Pacific, Europe, North America, and the rest of the world are the four main geographies included in the market.

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