Port Equipment Market

Players have adopted various growth strategies, such as acquisitions, joint ventures, and collaborations and new product launches, to further expand their presence in the Port Equipment Market

The port equipment market size is expected to grow from USD 29.2 billion in 2018 to USD 36.6 million by 2023, at a CAGR of 3.30% during the forecast period. The major driving factors for the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East.

The major players in the port equipment market include Liebherr (Switzerland), TTS (Norway), Kalmar (Finland), Konecranes (Finland), Sany (China), Shanghai Zhenhua Heavy Industries (ZPMC) (China), Hyster (US), Lonking (China), CVS Ferrari (Italy), Anhui Heli (China), and Famur Famak (Poland), among others. These players have adopted various growth strategies, such as acquisitions, joint ventures, and collaborations and new product launches, to further expand their presence in the port equipment market. Partnerships and new product launches have been the leading strategies adopted by major players from 2016 to 2018, which helped them innovate on their offerings and broaden their customer bases.

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Liebherr is one of the leading manufacturers and suppliers of port equipment solutions to port management and service providers markets across the globe. Liebherr added reachstacker LRS 545 to the existing joint venture portfolio of its subsidiary company Somatel Liebherr. In July 2017, the company completed a contract order for a new LRS 545 reachstacker from the Doyle Shipping Group (Ireland) at the Dublin Port. The LRS 545 reachstacker can stack up to five containers and has a maximum lifting capacity of 40.5 tons in the first row and 29.5 tons in the second row with supporting plates.

Kalmar is one of the global leader offering new advanced port container handling equipment. The company has made several contracts with end users for supplying tractors and reachstackers, among others. In January 2018, the company has a supply contract for 10 TL2 terminal tractors from Trac-Wheels (Malaysia), a company involved in the sale and leasing of construction and container handling equipment in East Malaysia. The tractors are to be offered on lease to the Miri Port and Tanjung Manis Port terminals located in East Malaysia for integrated cargo handling solutions.

Konecranes is a publicly held company founded in 1910. It is one of the fastest-growing cranes supplying companies in the European region. Konecranes offers unique and customized solutions to its clients to cater to their requirements. Port equipment package offered by the company includes container reach stackers, straddle carriers, rail mounted gantry cranes, rubber tired gantry cranes, mobile harbor cranes, and automated terminal tractors. It allows customers to configure their own container handling process to meet their requirements. The company has over 48 customers across the globe.

Related Reports:

Port Equipment Market by Equipment Type (Mooring Systems, Tug Boats, Cranes, Shiploaders, Container Lift Trucks, Reach Stackers, Forklift Trucks, Automated Guided Vehicles, Terminal Tractors, Straddle Carriers), Type, Application, Demand, and Region - Global Forecast to 2025

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Report Code
AS 6852
RI Published ON
1/9/2019
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