HOME Research Insight Market Leader - Container Handling Equipment Market



Market Leader - Container Handling Equipment Market


The increased container throughput productivity, improved fuel efficiency, and stringent emission regulations have impacted the container handling equipment market, which is projected to grow at a CAGR of 4.24%, during the forecast period, to reach a market size of USD 8.75 Billion by 2025 from an estimated USD 6.28 Billion in 2017.

To handle the growing container volumes at ports around the world, the container handling industry is shifting toward port automation in recent years. To increase productivity, terminal operators are looking for automated equipment as a solution. For instance, in January 2017, Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC) was chosen by the Port of Virginia (US) to provide complete automation solutions and industrial drives totaling 86 automated stacking cranes at the Norfolk International Terminal (NIT) and Virginia International Gateway (VIG) facilities. Additionally, in 2017, ZPMC launched an automated driving unmanned container straddle carrier that utilizes artificial intelligence (AI) technology for complete equipment operation. Other companies such as ABB and Siemens also provide automation technology. This trend is expected to grow, spurring the demand for automated container handling equipment.

Due to the increasing stringency of emission regulations, benefits offered, and equivalent performance as that of conventional equipment, the demand for electrically propelled container handling equipment is expected to grow at a faster rate during the forecast period. In September 2017, Hyster planned to start testing its lithium-ion battery-based laden container handling trucks capable of stacking up to 48 tons. Also, Terberg Group introduced a purely electric terminal tractor with a lifting capacity of 36 tons. Similar efforts have been made by manufacturers such as Kalmar, Konecranes, and Liebherr to expand their electric container handling equipment portfolio.

Asia Oceania is expected to be the fastest-growing market for container handling equipment due to increased containerized trade in the region. According to the World Bank, the total containerized trade in China, Japan, South Korea, Singapore, and India had increased from ~149.7 million TEU in 2006 to ~289.9 million TEU in 2016, at a CAGR of 6.83%, during the review period. Furthermore, as per the World Shipping Council, 27 of the top 50 container port terminals in the world are located in Asia Pacific and they handled 1 million TEU in 2015. Other countries such as Malaysia, Indonesia, and Thailand have also experienced a significant growth in container handling in recent years. To avail of these opportunities, regional as well as foreign players such as Sany, ZPMC, Lonking, Kalmar, and Hyster have been focusing on business strategies such as supply contracts, expansions, and new product developments aimed at the market in Asia Pacific.

Along with rise in containerized trade, port authorities are looking to deploy automated equipment with the desired accuracy which ultimately results in increased productivity. Therefore, established players such as Kalmar, Konecranes, and Liebherr are collaborating with automation system providers such as TMEIC and ABB to add to their automated container handling portfolios. 

Related Reports:

Container Handling Equipment Market by Type (ASC, STS, MHC, RTG, RMG, EMPTY and Laden FLT, Straddle Carrier, Reach Stacker, Terminal Tractor), Tonnage (<10 T, 10–40 T, 41–70 T, 71–100 T), Propulsion, Engine Capacity, Power Output - Global Forecast to 2025

Contact:
Mr. Rohan
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 
sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports