Demand For Port and Material Handling Equipment Vehicle Industry Is Expected To Accelerate At A Whopping 5.0% CAGR Through 2031
The global port and material handling equipment vehicle market is expected to grow at a CAGR of around 5% from 2021 to 2031, owing to increased port infrastructure development across geographies. The global logistics and transportation sector has improved in recent years, owing to the increasing scope of international and domestic trade.
As a result, effective management of critical services like warehousing and distribution has increased, paving the way for increased demand for port and material handling equipment vehicles.
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Furthermore, planned future infrastructure expansion projects will provide significant momentum to the market. For instance, the Indian government has earmarked US$ 82 billion for the ongoing Agartala Project at the March 2021 Maritime India Summit, which will see enhanced port infrastructure development, thus generating demand. Likewise, several planned port infrastructure projects under China’s Belt and Road Initiative (BRI) are also expected to stimulate demand for port and material handling equipment vehicles over the coming years.
Key Companies Profiled
- ABB Group
- American Crane & Equipment Corporation
- Anhui Heli
- Cavotec
- CVS Ferrari S.p.A.
- FAMUR FAMAK S.A.
- Hyster Forklift Company
- Kalmar Global, Konecranes
- Liebherr
- Lonking Holdings Limited
- McNally Bharat Engineering Limited
- SANY Group
- Shanghai Zhenhua Heavy Industries (ZPMC)
- TIL Limited
- Timars Svets & Smide AB
- TTS
Key Takeaways from Market Study
- Automated Stacking Cranes (ASCs) to remain most preferred equipment due to their significant capital cost reduction.
- By application, container handling emerged as the dominant segment, expected to retain its position through 2031.
- Demand for electric- / battery-propelled vehicles to aggrandize over coming years.
- New demand is likely to attract significant investments towards port and material handling equipment vehicles.
- China and India to present heavy investment opportunities amid extensive port and maritime infrastructure spending.
- Robust presence of regional manufacturers heightening growth prospects in the U.S.
“Prominent end users are seeking autonomous and smart equipment handling solutions with a view to streamline management operations. This is prompting key port and material handling equipment vehicle manufacturers to introduce digitized management solutions,” remarks the Fact.MR analyst.
Key Market Segments Covered
Equipment
- Cranes
- Rubber-tired Gantry (RTG) Cranes
- Electrified Rubber-tired Gantry (E-RTG) Cranes
- Ship-to-share Cranes
- Yard Cranes
- Rail-mounted Gantry (RMG) Cranes
- Automated Stacking Cranes
- Ship Loaders
- Reach Stackers
- Mooring Systems
- Automated Guided Vehicles
- Forklift Trucks
- Container Lift Trucks
- Terminal Tractors
- Straddle Carriers
- Others
Application
- Container Handling
- Ship Handling
- Services
- Storage Handling
- Automated Storage Handling
- Bulk Material Handling
- Others
Propulsion
- Diesel Port and Material Handling Equipment Vehicles
- Gasoline Port and Material Handling Equipment Vehicles
- Electric- / Battery-powered Port and Material Handling Equipment Vehicles
- Hybrid Port and Material Handling Equipment Vehicles
- Others
Demand
- Port and Material Handling Equipment Vehicles for New Demand
- Port and Material Handling Equipment Vehicles for MRO & Services
Region
- North America (US and Canada)
- Europe (Germany, UK, France, Italy, Spain and Rest of Europe)
- Asia Pacific (China, India, Japan, ASEAN and Rest of Asia-Pacific)
- Middle East & Africa (GCC, South Africa and Rest of MEA)
- Latin America (Brazil, Mexico and Rest of Latin America)
Xherald
