Global Cargo Handling Equipment Market is valued approximately USD 23.30 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 3.05% over the forecast period 2022-2029. Cargo Handling Equipment's are essential for port operations. The Cargo Handling Equipment are used for efficient and safe handling of material arriving at and departing from ports in shipping containers. Different CHE includes top handlers, side handlers, reach stackers, straddle carriers, gantry cranes, forklifts, terminal tractors, and yard trucks among others. The increasing growth of cross border e-commerce trade and growth in cross border trade activities post covid era are key factors driving the market growth.
The rising expansion of cross border ecommerce sector is contributing towards the Global market growth. For instance - as per Statista - in 2019, the global cross-border e-commerce market was valued at USD 579billion, and as projections the market is projected to grow to USD 2.25 trillion by the year 2026. Moreover, in June 2022, Bangladesh government and the Asian Development Bank (ADB) signed agreement for USD 143 million policy-based loan to improve the cross-border trade in Bangladesh. Also, increasing number of cross border free trade agreements between countires and growing adoption of workflow automation would create lucrative growth prospectus for the market over the forecast period. However, stringent emission norms as well as high deployment and maintenance cost stifle the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Cargo Handling Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading market players and growth in cross border trade in post pandemic era in the region. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising expansion of port and shipping infrastructure and increasing growth of cross border ecommerce trade in the region.
Major market player included in this report are:
Hangcha Forklift (China)
Siemens Logistics GmbH (Germany)
TOYOTA INDUSTRIES CORPORATION (Japan)
Terex Corporation. (U.S.)
Anhui Heli (China)
Textron Ground Support Equipment Inc. (U.S.)
Liebherr-International Deutschland GmbH (Germany)
KION GROUP AG (Germany)
Recent Developments in the Market:
In March 2022, The Namibian Ports Authority announced procurement of cargo handling equipment worth N$17 million, to increase operational efficiency at its ports from Liebherr-Africa and Forklifts and Allied Equipment cc respectively.
Global Cargo Handling Equipment Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Propulsion, Equipment Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Equipment Type:
Rest of the World