The Port & Material Handling Equipment Vehicle Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Port & Material Handling Equipment Vehicle Global Market Report 2024, The port & material handling equipment vehicle market size has grown strongly in recent years. It will grow from $21.62 billion in 2023 to $22.99 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to global trade expansion, increasing containerization, growth in e-commerce and logistics, infrastructure development in ports, focus on safety and ergonomics, environmental regulations..
The port & material handling equipment vehicle market size is expected to see strongly grown in the next few years. It will grow to $28.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to adoption of autonomous vehicles, growth in renewable energy sector, smart ports and digital transformation, customization for specific cargo types, development of green ports. Major trends in the forecast period include innovations in containerization technology, integration of iot and connectivity, automation in material handling, telematics and fleet management, innovations in crane technology, adoption of artificial intelligence (ai)..
The growth in the e-commerce industry is expected to boost the growth of the port and material handling equipment vehicle market going forward. Electronic commerce (e-commerce) is the buying and selling of goods and services over an electronic network, primarily the internet, or the transmission of funds and data. Port and material handling equipment vehicles are used to move materials within a port or other facility, such as a warehouse or distribution center. There has been an increased use of port and material handling equipment vehicles in e-commerce in recent years due to the rapid growth of online shopping. For instance, in February 2022, according to Quarterly Retail E-Commerce Sales 4th Quarter 2021 report by the U.S. Census Bureau, a US-based government agency, in 2021, e-commerce sales reached $870 billion in the US, which was a 14.2% increase compared to 2020. Furthermore, of all retail sales in the US, e-commerce represented 13.2% in 2021. Therefore, the growing e-commerce industry drives the port and material handling equipment vehicle market.
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The port & material handling equipment vehicle market covered in this report is segmented –
1) By Equipment Type: Tug Boats, Cranes, Shiploaders, Reach Stackers, Mooring Systems, Automated Guided Vehicles (AGVs), Forklift Trucks, Container Lift Trucks, Terminal Tractors, Other Equipment By Propulsion: Diesel, Gasoline, Electric/Battery, Other Propulsion
2) By Demand: New Demand, MRO(Maintenance, Repair, And Overhaul Or Services)
3) By Application: Container Handling, Ship Handling, Services, Storage Handling, Automated Storage Handling, Bulk Material Handling, Other Application
The launch of augmented reality is gaining popularity in the print advertising distribution market. Major players operating in the industry are continuously focused on introducing innovations and technologies to better serve the needs of consumers. For instance, in 2021, Threekit reports that 83.1 million consumers in the US use AR monthly. AR usership is expected to grow to 17% by 2022. The augmented reality trend of combining print with digital is a new way to connect with users. This combination has been spawning some incredible campaigns which offer advertisers new opportunities to create a virtual shop window on any printed marketing material. The best example is the Australian wine brand ’19 Crimes’, which has the labels embedded with AR technology. When the users scan the label with an AR app on their phone, the label comes to life and the person shown on the label tells the story of the 19 Crimes.
The port & material handling equipment vehicle market report table of contents includes:
1. Executive Summary
- Port & Material Handling Equipment Vehicle Market Characteristics
- Port & Material Handling Equipment Vehicle Market Trends And Strategies
- Port & Material Handling Equipment Vehicle Market – Macro Economic Scenario
- Global Port & Material Handling Equipment Vehicle Market Size and Growth
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- Global Port & Material Handling Equipment Vehicle Market Competitive Benchmarking
- Global Port & Material Handling Equipment Vehicle Market Competitive Dashboard
- Key Mergers And Acquisitions In The Port & Material Handling Equipment Vehicle Market
- Port & Material Handling Equipment Vehicle Market Future Outlook and Potential Analysis
- Appendix
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