Market Analysis 

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).

 

Drivers 

Growing Adoption in Air, Marine, and Land Routes to Boost Market Growth

Growing adoption of cargo handling equipment in the containers through marine, land, and air routes for trade purposes for the efficiency of such equipment will boost the market growth over the forecast period. 

 

Opportunities 

Rising Emphasis on Protection for Laborers to Offer Robust Opportunities 

The growing emphasis to protect the laborers working on ground floor (dispatch, storage, and production) will offer robust opportunities for the market in the forecast period. 

 

Restraints 

High Capital Costs to act as Market Restraint 

The soaring capital price of air cargo handling equipment may act as a market restraint over the forecast period as small enterprises dealing with cargo shopping are unable to use such equipment. 

 

Challenges

Lack of Synchronization to act as Market Challenge 

The lack of synchronization among different equipment may act as a market challenge over the forecast period. 

 

Market Segmentation 

The global cargo handling equipment is segmented based on application, mode of propulsion, and type. 

 

By type, the forklift truck type segment will lead the market over the forecast period. 

 

By mode of propulsion, the diesel segment will dominate the market over the forecast period for its widespread use in different industries. 

 

By application, the rail cargo segment will spearhead the market over the forecast period for the well-established existing rail networks. 

 

COVID-19 Analysis

Several industries have been affected by the COVID-19 crisis and the global cargo handling equipment market too is no different. It has also experienced the brunt of the deadly outbreak. Economic consequences, supply chain disruptions, fluctuations in demand share, and long-term & immediate impact of the COVID-19 crisis had a negative effect on the market growth. But with the relaxation of lockdowns, the market is likely to get back into normalcy soon.

Regional Analysis 

APAC to Precede Cargo Handling Equipment Market 

The APAC will precede the market over the forecast period. Increasing seaborne trade, rising industrial production, increase in air cargo movement, growing trend like e-commerce, the growing need for efficient and strong and efficient equipment for container handling, increase in considerable export and import, increasing technological advances, rise in globalization, trade businesses between different countries, increasing government initiatives, and developments in equipment and ports are adding to the global cargo handling equipment market growth in the region. 

 

Besides, the presence of major developing economies India and China for high need of raw materials and final products, high industrial activities, the presence of largest port in Shanghai, the economy rebalancing from investment to consumption, from external to internal demand, and from manufacturing to services, low material and labor cost, and major import and export activities being supported by the growing economy in India are also adding market growth. 

 

Key Players 

Eminent players profiled in the global cargo handling equipment market report include Toyota Industries Corporation (Japan),Terex Corporation (US), Kion Group AG (Germany), Konecranes Oyj (Finland), Hyster (US), Kalmar (Finland), Liebherr (Germany), Cargotec Oyj (Finland), ABB Ltd (Switzerland), and Shanghai Zhenhua Heavy Industries Company Limited (China).

 

The cargo handling equipment market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers , including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches, and more.

 

 

 

 Related Links-

Bisphenol A Market- https://www.marketresearchfuture.com/reports/bisphenol-a-market-8317


Abrasives Market- https://www.marketresearchfuture.com/reports/abrasives-market-5391


Release Liners Market- https://www.marketresearchfuture.com/reports/release-liner-market-6241


Plastics Market- https://www.marketresearchfuture.com/reports/plastics-market-8347


Plating on Plastics Market- https://www.marketresearchfuture.com/reports/plating-on-plastics-market-8303


Cryogenic Insulation Market- https://www.marketresearchfuture.com/reports/cryogenic-insulation-market-8494

 

About Market Research Future - 

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.

 MRFR team has the supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

 In order to stay updated with the technology and work process of the industry, MRFR often plans conducts meet with the industry experts and industrial visits for its research analyst members.

 Contact:

 Market Research Future®

 99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

 Phone: +1 628 258 0071(US) +44 2035 002 764(UK)

 Email: sales@marketresearchfuture.com

 Website: https://www.marketresearchfuture.com