Container Handling Equipment Market to Hit US$ 2.68 Billion by 2033 | Fact.MR Report

Rockville , June 12, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global container handling equipment market is expected to witness a valuation of US $ 2.68 Billion by 2023. The market is predicted to witness a CAGR of 4.2% during the forecast period of 2023 to 2033.

Equipment for handling containers makes sure that the proper containers are exactly delivered for speedy order processing. Automated container handling ensures rapid and effective material flow and greatly increases output.

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Equipment for container handling is used in terminals to move containers from one location to another. It is utilised to safely and efficiently handle storage yards, container inbound unloading, container outbound loading, and vessel berthing. Due to its various benefits, including as its durability, longevity, and higher productivity, container handling equipment has a wide range of usage in many industries.

Equipment for handling containers is needed due to the expanding transportation market. Also, governments all across the world are concentrating on lowering emissions. As a result, companies that produce container handling equipment offer electric-powered equipment. Increased international trade is increasing demand for container handling equipment. The two pieces of handling equipment that are most in demand are forklift trucks and terminal tractors.

Reduction in Oil Prices Driving Sales of Container Handling Equipment

It is projected that a global decline in oil prices will benefit the shipping sector, driving up demand for container handling equipment. Yet, it is projected that throughout the upcoming years, fuel output would increase, presenting fresh prospects for market expansion.

According to the United States Energy Information Administration, 10.7 million barrels of fuel are expected to be produced daily.

Manufacturers are becoming more and more reliant on the shipping sector to transport their goods. So, it is projected that throughout the forecast period, the demand for container handling equipment would be fueled by falling oil costs paired with an expanding shipping industry.

Key Driving Forces Accelerating the Market Growth

• Geographies such as North America are witnessing steady growth in international trade, with a rise in imports and exports. Container handling equipment, such as container cranes, straddle carriers, and reach stackers, plays a crucial role in efficiently handling and transporting containers, thus supporting the growth of international trade.
• Many ports in North America are expanding their infrastructure to accommodate larger vessels and handle a higher volume of containers. This expansion requires the deployment of advanced container handling equipment to ensure smooth operations and efficient container movement within the port premises.
• There is a growing trend towards automation and the integration of advanced technologies in container handling equipment. Automated stacking cranes, robotic systems, and remote-controlled equipment are being increasingly deployed to enhance efficiency, reduce labor costs, and improve overall productivity in container terminals.
• Container terminals are focusing on improving operational efficiency and reducing turnaround times. Advanced container handling equipment offers higher productivity, faster container handling, and improved safety features, enabling terminals to handle a larger volume of containers efficiently.
• Various infrastructure development projects, such as the construction of new container terminals and the expansion of existing ones, are underway in North America. These projects require the deployment of container-handling equipment to support the efficient handling and movement of containers.
  

Recent Developments:

Container traffic patterns are being impacted by new shipping line alliances, which are also establishing higher demands for port operators' efficiency. Cost reductions and long-term strategic advantages can be realised by implementing synergistic mergers between two container shipping lines.

• In 2019, one of the leading crane service providers in Italy, Italian Trevolution Service SRL, which specialized in crane modernizations, repairs, maintenance, spare parts, and hoists, was acquired by Konecranes, a leading player in the container handling equipment market and a Finnish provider of lifting solutions.
  

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Key Companies Profiled in This Report

• Liebherr
• Cargotec Corp
• Konecranes
• SANY
• Kalmar
• Hyster-Yale Materials Handling Inc.
• Terex Corporation
• JBT Corporation
• KION Group AG
• Taylor Machine Works, Inc.
• Combilift
• Tadano Ltd.

Vital Indicators Shaping The Future Of The Industry

• Changes in trade policies and agreements can significantly affect the container handling equipment market. Trade agreements that promote international trade and reduce trade barriers can stimulate the demand for container-handling equipment as trade volumes increase. Conversely, trade disputes or protectionist measures can dampen trade activity and consequently impact the market.
• The container handling equipment market is driven by technological advancements that enhance efficiency, automation, and safety. Continued innovations in areas such as autonomous vehicles, the Internet of Things (IoT), artificial intelligence, and robotics will shape the future of container handling equipment. The adoption of advanced technologies will lead to improved operational efficiency, reduced labor costs, and enhanced productivity.
• Environmental sustainability is becoming increasingly important in the container handling equipment market. Stringent environmental regulations and emission standards can drive the demand for eco-friendly and energy-efficient equipment. Manufacturers will need to develop solutions that align with sustainability goals, such as electric-powered or hybrid container-handling equipment.
• The development and expansion of port infrastructure will continue to shape the container handling equipment market. Investments in expanding port capacities, improving intermodal connectivity, and upgrading terminals will create opportunities for equipment manufacturers. Ports that can handle larger vessels and higher container volumes will require advanced and efficient container-handling equipment.
• The growing preference for intermodal transportation, which involves the seamless movement of containers across different modes of transport (e.g., ships, trucks, trains), will impact the container handling equipment market. Equipment that supports intermodal connectivity, such as rail-mounted gantry cranes or intermodal container handlers, will be in demand.
  

Challenges Hindering The Market Growth

• Outdated or inadequate infrastructure at ports and container terminals can pose challenges to the growth of the container handling equipment market. Insufficient space, outdated handling systems, and limited intermodal connectivity can restrict the efficient movement and handling of containers, impacting the demand for new equipment.
• Container handling equipment, such as cranes, straddle carriers, and reach stackers, involve substantial capital investments. The high upfront costs associated with purchasing and maintaining this equipment can be a barrier for some operators, especially smaller terminals or businesses with limited financial resources.

Strategies for manufacturers/suppliers to scale in the market

• Key players should focus on product expansion in different geographies. Key companies can achieve this with the help of strategic developments such as acquisitions, and product standards.
• Offering customization options and flexibility in equipment configurations can be a differentiating factor for manufacturers. Each container terminal has unique requirements, and manufacturers that can adapt their equipment to meet specific needs gain a competitive advantage. Providing modular designs, configurable features, and flexible solutions enables manufacturers to address the diverse requirements of customers.

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Key Segments of Container Handling Equipment Industry Research Report

• By Equipment Type :
  • Forklift Trucks
  • Automated Stacking Cranes
  • Reach Stackers
  • Terminal Tractors
  • Straddle Carriers
  • Rail-mounted Gantry Cranes
  • Automated Guided Vehicles
  • Rubber-tired Gantry Cranes
• By Propulsion :
  • Electric/Hybrid
  • Diesel
• By Weight Capacity :
  • Below 30 T
  • 30 to 45 T
  • 46 to 60 T
  • 61 to 75 T
  • Above 75 T
• By Application :
  • Sea Ports/Terminals
  • Yards/Landsides
• By Region :
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
    

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