Cargo Handling Equipment Market

Kalmar (Finland) and Konecranes (Finland) are the Leading Players in the Cargo Handling Equipment Market

The cargo handling equipment market is projected to grow at a CAGR of 3.61%, during the forecast period, to reach a market size of USD 28.02 billion by 2025 from an estimated USD 21.85 billion in 2018. Increased cargo transportation; growing use of automation technologies at air ports, warehouses, and marine ports; stringent emission levels resulting in the increased demand for electric and hybrid equipment; and the rising demand in Asia Pacific and the EMEA are the key factors driving the growth of the cargo handling equipment market.

The cargo handling equipment market is dominated by a few global players and comprises several regional players namely Kalmar (Finland), Konecranes (Finland), Liebherr (Switzerland), Hyster (US), and Kion group (Germany). Supply Ccontracts & agreements and new product developments were the prominent strategies adopted by key players such as Kalmar, Konecranes, and Liebherr to gain traction in the cargo handling equipment market. For instance, in April 2018, Konecranes acquired a supply contract for 15 RTG cranes from Malta Freeport Terminals, one of the busiest ports in Europe. Companies also adopted new product development as a strategy to maintain their positions in the market. In September 2017, Hyster planned to develop a new 48-ton electric container handling product. The testing phase is expected to start shortly, and the equipment will utilize lithium-ion battery technology for electrification, helping the company achieve its zero-emission targets.

Kalmar is the leading player in the cargo handling equipment market due to its wide range of equipment such as RTG, reach stackers, and terminal tractors. Kalmar has adopted a mix of the contracts & agreements and mergers & acquisitions strategies to retain its position in the cargo handling equipment market. In March 2018, Kalmar signed a deal with Deepwater Container Terminal (DCT), Gdansk, to supply five electrically powered RTG cranes with extensive customization. The order also includes the supply of a spare parts package for the machines. Furthermore, as part of its acquisition strategy, the company took over the port services business of Inver Engineering (Australia), a part of Inver Engineering, which provides repair, maintenance, and refurbishment services for cargo handling equipment at port terminals in Australia, New Zealand, and the Pacific region.

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Konecranes adopted the mergers & acquisitions and contracts & agreements strategies to strengthen its market position. In January 2017, it acquired the Material Handling and Port Solutions (MHPS) business segment of Terex Corporation (US). The acquisition, worth USD 1.22 billion, added Terex Demag and Port solutions to Konecranes’ product portfolio, including container handling equipment and reach stackers. The company has also been awarded multiple contracts. In December 2017, Konecranes received a contract from Kramer Group (Netherlands) for 11 SMV 6/7 ECC 100 DS empty container handlers and 11 SMV 4531 TC5 reach stackers. These machines would be deployed at Kramer’s city depot in Waalhaven/Eemhaven and the Delta depot at Maasvlakte. This contract would enable Konecranes to showcase its extensive product portfolio at the Rotterdam port area.

Related Reports:

Cargo Handling Equipment Market by Application (Air, Land, & Marine), Equipment (Conveyors, Forklift Truck, Aviation Dolly, Pallet Jack, AGV, Crane, RTG, Loader, Stacker, Straddle Carrier, Terminal Tractor), Propulsion, and Region - Global Forecast to 2025

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Cargo Handling Equipment Market Size,  Share & Growth Report
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