Press Release / Automotive / Global Cargo Handling Equipments Market Expected To Reach USD 89.4 billion in 2024

Global Cargo Handling Equipments Market Expected To Reach USD 89.4 billion in 2024

Cargo Handling Equipments Market is shaping the future of logistics industry
Rapidly growing e-commerce business along with the technological advancement in logistics industry is lifting cargo handling equipment market all across the globe. More than 90% of goods transported are containerized; to deal with the huge container traffic advanced cargo handling equipments are needed such as RTG cranes, forklifts and tractors. Marine ports and airports authorities are using rental equipments to ensure greater profitability coupled with implementation of advance technology cargo handling equipments. The global cargo handling equipment market accounted for USD 62.5 billion in 2015 owing to growing e-commerce business across the world. In 2015 global e-commerce business accounted for USD 1.3 trillion. Global cargo handling equipment market share is projected to reach USD 89.4 billion by 2024, further; the market is expected to expand at a CAGR of 4.4% over the forecast period i.e. 2016-2024. Among end use industry segments, marine port is an important segment based on the container traffic and number of cargo handling equipments used at marine ports is large in number as compared to any other end–use industry. Global container port volume reached 700 million TEU, in 2015 which is expected to expand significantly with rising e-commerce business. Geographically, Asia-Pacific dominates the global cargo handling equipments market with more than 36% share in 2016.
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Market Segmentation
• By Product
Bulldozers
Cranes
Electric Pallet Jacks
Excavators
Forklifts
Loaders
Man Lifts
Rail Pushers
Reach Stackers
RTG Cranes
Side Picks
Tractors
Truck
Others (Top Handlers etc.)
• By Location
Marine Ports
Airports
Rail Yards
• By Geography
North America (US, Canada)
Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe)
Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa)
Latin America (Brazil, Mexico and Rest of Latin America)
Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific)
Rest of the World
“Global Cargo Handling Equipment Market Outlook 2024” contains detailed overview of the global cargo handling equipment market in terms of market segmentation by product, by application.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This market report also includes provides competitive outlook of some of the major players of the global cargo handling equipment market which includes profiling of companies such as ABB Group, Liebherr Group, Kalmar Global, Toyota Industries Corporation, Hyundai Heavy Industries, Seehafen Wismar GmbH, Terex Corporation, JBT Corporation etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global cargo handling equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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