Cargo Handling Equipment Market Size, Share, Growth, And Industry Analysis by Type (Diesel, Handling Equipment, Electric Handling Equipment & Others) by Downstream Industry (Air Cargo, Marine Cargo, Land Cargo) and Regional Forecast to 2033

CARGO HANDLING EQUIPMENT MARKET REPORT OVERVIEW

The Global Cargo Handling Equipment Market size was USD 2107.59 million in 2024 and the market is projected to touch USD 2254.97 million by 2033, exhibiting a CAGR of 0.68% during the forecast period.

Cargo handling equipment is the mechanical equipment used to move, store or control the goods and product throughout the process of manufacturing. These are used mostly during the transport of cargo by ship, plane or train. These are mechanical machines and are of different types such as diesel based, electric & others. Those who run on fossil fuel are harmful for the environment so the electric equipment is now in demand for the reason that they are environment friendly. The continuously increasing trade between countries, rapid growth of industries and industrial production, increase in air cargo are the factors due to which the demand is increasing in the Cargo Handling Equipment Market.

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COVID-19 Impact

"Pandemic’s Supply Chain Disruptions Led To Temporary Shortages in Demand"

The COVID-19 pandemic has been unprecedented and staggering, with flea and tick product market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.

The pandemic had a big impact on the market due to supply chain disruption. The lockdown during the pandemic forced everyone to shut down the companies or work with limited workforce. This led to the disruption in the supply chain. Due to shortage of raw material the manufacturing sector had to suspend their operations. This situation has lowered trade all over the world. The demand for cargo handling equipment also decreased during this period. As a result we can see the low demand in the Cargo Handling Equipment Market.

LATEST TRENDS

"Automation in the Cargo Handling to propel Market Trend"

Automation in the cargo handling equipment is a much needed trend to revolutionise the industry. With the help of automation in cargo handling the process becomes much faster, more efficient and less prone to errors. This automation is important because of the increasing volume of the cargo every year. With the integration of AI the cargo handling process will be properly streamlined. Hence there is a need for expanding more automation in the market.

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CARGO HANDLING EQUIPMENT MARKET SEGMENTATION

By Type

Depending on Cargo Handling Equipment Market given are types: Diesel Handling Equipment, Electric Handling Equipment & Others

• Diesel handling equipment: These are the traditional equipment powered by diesel. Which have been used for a very long time. They are known for their durability, heavy duty operation and strength.

• Electric handling equipment: The electric equipment is currently coming in trend due to increased awareness about the environmental pollution. These are environment friendly and cost effective solutions.

• Others: The other types of equipment such as hybrid and other alternate fuel types are included in this category.

By Downstream Industry

The market is divided into air cargo, marine cargo & land cargo

• Air cargo: The use of cargo handling equipment in the air cargo industry is mainly for the loading, unloading and transportation of cargo at airports. This makes the process efficient and quick to avoid delays.

• Marine cargo: In the marine industry the cargo is transported by ships. The cargo handling equipment include cranes, container handlers & others. They are specially designed for marine cargo handling.

• Land cargo: The cargo in the land mode is transported by trains or heavy trucks. Here cargo handling equipment are specially made for loading and unloading the trains and trucks.

Driving Factors

"Rising Imports and Exports Drive Growth in Market"

The rising global imports and exports rate are one reason driving the Cargo Handling Equipment Market growth. As the volume of national and international cargo increases, the demand for more efficient cargo handling equipment also increases. To cater the demand there should be more efficient and productive equipment. Automation in the cargo handling equipment is necessary. This factor increases the demand in the Cargo Handling Equipment Market.

"More Fuel Efficient And Low Emission Equipments Are Driving Market Demand "

Another important reason driving the Cargo Handling Equipment Market growth is the rising demand of fuel efficient and low emission cargo handling equipment. Nowadays there is an increased awareness about environmental pollution. Resulting government is also formulating stringent regulatory norms to curb the pollution. The shift to greener technology is a trend in the market. Hence increased demand for more efficient equipment is driving demand in the Cargo Handling Equipment Market.

Restraining Factors

"Expensive Equipments Hamper the Market Growth"

One limiting factor affecting the cargo handling equipment industry is the high price of the cargo handling equipment. New cargo handling equipment has significant upfront costs because of its advanced technology. Due to their potential inability to purchase such costly machinery, small and medium-sized businesses (SMEs) may find it especially difficult to overcome this financial hurdle.

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CARGO HANDLING EQUIPMENT MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America and Middle East & Africa.

"Asia Pacific To Dominate The Market Due To Rapid Increasing Import And Export "

Asia-Pacific dominates the Cargo Handling Equipment Market share due to the increasing demand for strong and proficient container handling equipment. The region's rapid economic growth has led to a significant rise in import and export activities, necessitating advanced equipment to efficiently manage the high volume of goods. Countries like China, India, and Japan are key players in this market, driven by their expansive manufacturing sectors and strategic port developments.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

The Cargo Handling Equipment Market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of cargo handling equipment options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative technology and smart features in cargo handling equipments, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Mitsubishi (Japan)
• Liebherr (Switzerland)
• Shanghai Zhenhua Heavy Industries Company Limited (China)
• Sany (China)
• MacGregor (Finland)
• Hangcha Group Co. Ltd (China)
• Anhui Heli (China)
• Teleflex Lionel-Dupont (TLD) (France)
• JBT (U.S)
• Terex (U.S)
• Mallaghan Engineering (U.K)
• Toyota Industries (Japan)
• Kalmar (Finland)
• Gantrex (Belgium)
• Hoist Lifttruck (U.S)
• Hyster (U.S)
• Tec Containers (Spain)
• Siemens AG (Germany)
• Kion Group (Germany)
• Konecranes (Finland)

INDUSTRIAL DEVELOPMENT

June 2020: The two leading key players PayCargo and IBS Software decided to start the joint organization which permits API-based combination and also provides an upgraded computerized installment stage to cargo handling equipment to both the companies.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.