The global cargo handling equipment market size was valued at USD 26.12 billion in 2023 and is projected to grow from USD 26.97 billion in 2024 to USD 35.04 billion by 2031, exhibiting a CAGR of 3.81% during the forecast period. This report provides a comprehensive overview of the Cargo Handling Equipment Market, its growth drivers, key segments, regional insights, and competitive landscape. It serves as a valuable resource for businesses, investors, and industry professionals seeking to capitalize on emerging opportunities and navigate market uncertainties.
Competitive Landscape
The global Cargo Handling Equipment Market is competitive in nature. In addition to segmental and regional analyses, our study offers a comprehensive view of the competitive landscape in the Cargo Handling Equipment Market. We delve into the strategies employed by key market players, both organic and inorganic, to strengthen their market position. This information includes an assessment of their strengths, weaknesses, opportunities, and restraints, providing valuable insights for stakeholders.
Key Companies in Cargo Handling Equipment Market:
- Anhui Heli Co., Ltd.
- TOYOTA INDUSTRIES CORPORATION
- KION GROUP AG
- Hyster-Yale, Inc.
- Jungheinrich AG
- Mitsubishi Group
- Liebherr
- Konecranes
- Godrej Enterprises Group
- Terex Corporation
- Cargotec Corporation
- CLARK
- Hyster-Yale, Inc.
- The Manitowoc Company, Inc.
- Taylor Machine Works, Inc
Market Overview
The Cargo Handling Equipment Market has demonstrated remarkable growth, propelled by various factors. These growth drivers have reshaped consumer preferences, introduced technological innovations, and influenced governmental policies. Understanding these trends is crucial for businesses aiming to proactively adapt to market changes and identify new avenues for growth. Furthermore, the report also highlights pivotal factors such as favorable government initiatives, technological advancements, and increasing product development.
The Cargo Handling Equipment Market research report from Extrapolate is a crucial resource for companies looking to succeed in the global Keyword industry. Organizations can make informed decisions, create powerful marketing strategies, and stay ahead of the curve in this quickly changing environment with the help of our analyses.
In order to assist businesses in proactively addressing potential challenges, we offer an extensive comprehension of hidden risks, encompassing factors such as evolving regulatory policies and economic fluctuations. These valuable insights empower organizations with the necessary tools to navigate uncertain circumstances.
Segmental Analysis:
The report offers an in-depth segmental analysis, providing insights into the most lucrative segments within the Cargo Handling Equipment Market. By examining customer behaviour, purchasing habits, and demographic trends, businesses can refine their marketing strategies and create tailored experiences for their target audience. The segmentation is based on (product), (application), and geographical regions. The report also focuses on the driving factors and restraints impacting the global Cargo Handling Equipment Market growth.
Market Segmentation
- By Equipment Type (Cranes, Forklift Trucks, Rubber-tired Gantry Cranes (RTGs), Loaders, and Conveyor Systems, Automated Guided Vehicles (AGVs), Stackers, Pallet Jacks, Aviation Dollies, Other Equipment Types): The cranes segment earned USD 9.37 billion in 2023 due to their widespread use in ports and terminals for lifting heavy containers and improving operational efficiency.
- By Propulsion Type (Diesel-powered Equipment, Electric-powered Equipment, Hybrid Equipment): The diesel-powered equipment held 63.93% of the market in 2023, due to their high power output and reliability in handling heavy-duty cargo operations.
- By Application (Marine Cargo Handling, Warehouse Handling, Land Cargo Handling, and Air Cargo Handling): The marine cargo handling segment is projected to reach USD 14.02 billion by 2031, owing to the increasing global trade volumes and expansion of port infrastructure.
- By End-user Industry (Ports & Terminals, Warehouses & Distribution Centers, Airports, and Rail Yards): The ports & terminals segment is projected to reach USD 12.11 billion by 2031, owing to rising container traffic and investments in modernizing port handling systems.
Regional Insights:
The study presents a detailed regional analysis of the Cargo Handling Equipment Market, covering North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. This evaluation enables businesses and investors to identify region-specific opportunities and assess market dynamics, enhancing their market presence in these areas.
Asia Pacific cargo handling equipment market share stood around 38.50% in 2023 in the global market, with a valuation of USD 10.06 billion. This dominant position is primarily attributed to the region's expanding trade activities, particularly across China, India, Japan, and Southeast Asia.
The presence of major global shipping hubs such as the ports of Shanghai, Singapore, and Busan underscores the region's strategic importance in global logistics. Moreover, sustained infrastructure investments, coupled with government-led initiatives to modernize ports and expand intermodal transportation networks, have fueled the demand for advanced cargo handling solutions.
For more information on the report, visit: https://www.kingsresearch.com/cargo-handling-equipment-market-1822
Table of Content:
1 Introduction of The Global Cargo Handling Equipment Market
2 Executive Summary
3 Research Methodology
4 Global Cargo Handling Equipment Market Outlook
5 Impact of Russia-Ukraine War
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