Overview and Scope
Cargo handling equipment refers to machinery and tools used for loading, unloading, and transporting goods in various logistics and industrial operations. Cargo handling equipment streamlines supply chain operations by enhancing productivity and ensuring the safe and efficient handling of goods across different stages of transportation and storage. This equipment is essential for optimizing logistics processes, reducing turnaround times, and minimizing the risk of damage to goods during handling and transit.
Sizing and Forecast
The cargo handling equipment market size has grown strongly in recent years. It will grow from $25.7 billion in 2023 to $27.33 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increased industrialization, eco-friendly handling equipment, safety and environmental regulations, development of air freight handling equipment, and growth in global shipping routes and ports.
The cargo handling equipment market size is expected to see strong growth in the next few years. It will grow to $35.12 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to shift towards electric cargo handling vehicles, demand for green handling equipment, shifts in consumer preferences, need for enhanced cargo screening and handling security, and focus on reducing operational costs. Major trends in the forecast period include integration of RFID technology, adoption of 3D printing, advancements in hydraulic systems, integration of ai, and blockchain integration.
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Segmentation & Regional Insights
The cargo Handling Equipment market covered in this report is segmented –
1) By Equipment Type: Aviation Dollies, Stacker, Pallet Jacks, Loaders, Conveyor System, Automated Guided Vehicle, Forklift Trucks, Cranes, Rubber Tired Gantry Cranes, Other Equipment Types
2) By Technology: Manual, Semi-Automated, Fully Automated
3) By Propulsion Type: Diesel, Electric, Other Propulsion Types
4) By Application: Air Cargo, Marine Cargo, Land Cargo
5) By End User: Automotive, Consumer And Retail, Energy Resources, Manufacturing, Transportation, Other End-Users
Asia-Pacific was the largest region in the cargo handling equipment market in 2023. The regions covered in cargo handling equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rising import and export activities are expected to propel the growth of the cargo-handling equipment market going forward. Import and export activities refer to the buying (importing) and selling (exporting) of goods and services across international borders. Import and export activities are rising due to global trade, which facilitates the exchange of goods and services between different countries or regions. Cargo handling equipment enhances import and export activities by improving efficiency, ensuring safety, accelerating handling speeds, maximizing capacity utilization, and accommodating diverse cargo types, thereby facilitating smoother international trade operations. For instance, in November 2023, according to the International Trade Administration, a US-based government agency, in 2022, the value of goods and services exported from the US to the UK rose by 21.5% from 2021, reaching $157.1 billion. Therefore, increasing import and export activities are driving the growth of the cargo-handling equipment market.
Key Industry Players
Major companies operating in the cargo handling equipment market are Siemens AG, ABB Ltd., Komatsu Ltd., Toyota Industries Corporation, HD Hyundai Heavy Industries Co. Ltd., Liebherr-International Deutschland GmbH, KION Group AG, Sany Heavy Industry Co. Ltd., Doosan Industrial Vehicle BG, Jungheinrich AG, Mitsubishi Logisnext Co. Ltd., Wallenius Wilhelmsen Logistics ASA, Shanghai Zhenhua Heavy Industries Company Limited, Terex Corporation, Crown Equipment Corporation, Cargotec Oyj, Hyster-Yale Materials Handling Inc., Konecranes Oyj, Anhui Heli Co. Ltd., Hangcha Group Co, Manitowoc Company Inc., John Bean Technologies Corporation, Kalmar Corporation, The Taylor Group Inc, and CVS ferrari S.P.A
The cargo handling equipment market report table of contents includes:
- Executive Summary
- Cargo Handling Equipment Market Characteristics
- Cargo Handling Equipment Market Trends And Strategies
- Cargo Handling Equipment Market – Macro Economic Scenario
- Global Cargo Handling Equipment Market Size and Growth
………..
- Global Cargo Handling Equipment Market Competitive Dashboard
- Key Mergers And Acquisitions In The Cargo Handling Equipment Market
- Cargo Handling Equipment Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Cargo Handling Equipment Market, Segmentation By Equipment Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Cargo Handling Equipment Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Cargo Handling Equipment Market, Segmentation By Propulsion Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………..
Table 76: Siemens AG Financial Performance
Table 77: ABB Ltd. Financial Performance
Table 78: Komatsu Ltd. Financial Performance
Table 79: Toyota Industries Corporation Financial Performance
Table 80: HD Hyundai Heavy Industries Co. Ltd. Financial Performance
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