Container handling equipment are used to transport goods and material from one place to another. With an increase in globalization and industrialization activities around the world, the trade volume is expected to go up during the forecast period and this will require more equipment to handle the containers which in turn driving the growth in the market. In recent decades, the global economic development has been characterized by the extensive development of international trade and the ever-increasing demand for freight transport. As a result of the globalization and industrialization, Asia-Pacific countries, such as China and India, are expected to exhibit the highest growth rates, due to large-scale manufacturing facilities involved in large-scale imports and exports. Companies are investing heavily in research and development for the innovation of new and advanced products. In July 2019, Shanghai Zhenhua Heavy Industry Co. Ltd. (ZPMC) delivered Manila International Container Terminal (MICT), new quay crane (QC) and eight new hybrid rubber-tired gantries (RTGs) establishing the terminal as having the largest fleet of modern container-handling equipment in the Philippines with 18 QCs and 58 RTGs. The shifting trends toward automation of port terminals, the rising e-commerce industry, and growing requirements for electric and hybrid equipment, with emphasis on precaution for labors on the production floor and stringent emission norms, may provide innovative business opportunities in the container handling equipment market
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COVID-19 Impact analysis
Due to COVID-19, most of the countries followed a complete lockdown of more than two months, which, in turn, has impacted container handling equipment market. Manufacturing units around the world have been shut down, thereby demand for container handling equipment have dropped, thus impacting production on a global scale. Though the COVID-19 pandemic disrupted the container handling equipment production, various manufacturers are still focusing on developments in various new advance handling system. Also, considering the normalcy in the industry, government initiatives, and various collaborations/supply contracts have taken place, thereby indicating a positive sign for the container handling equipment market in the coming years. For instance, the Indian shipping ministry announced that they would push domestic companies to manufacture cranes used for container handling to replace annual imports worth INR 1,000 crore of such equipment from outside the country. Under the โAatma Nirbhar Bharat Abhiyanโ or โSelf-reliant India Missionโ, INR 200 crores worth of crane tenders were recently disallowed.
Top Impacting Factors
- Increasing cargo transportation, stringent emission norms for pollution control, safety for human labors, and automation of ports are driving the growth of the market.
- High cost involved in the operation of container handling equipment is expected to hamper the growth of the market.
- Rising demand for electrification of ports equipment, and technological development can be seen as an opportunity for the market investments.
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Rising demand for electrification of ports equipment
Globally, some port and terminal operators are looking for ways to reduce the environmental impact of their operations while reducing costs. Over the years, the increasing demands from authorities, and the growing uncertainties over fossil fuel sources and their costs, have resulted in the search for alternative fuels, not only for container cranes, but also for movable equipment used for stacking and container transportation at terminals. As because of the rising demand for the electrification of the ports equipment, several players are launching new product in the market. For instance, in November 2020, Sarens announced the launch of its new electric ring crane for heavy lifts. The crane is fully powered by electricity and offers maximum load moment of 99,000t and a 130m maximum main boom with silent, environmentally-friendly operations. The crane can also produce its own energy, recovering and reusing the electricity it generates each time it lowers a load, thereby, reducing energy consumption by up to 40%. Also, Liebherr announced the launch of its electrical port crane, the LPS 420 E. The crane is equipped with two winches, each with a powerful 190 kW electric motor, and provides a maximum load capacity of up to 124 tons and can be perfectly used for containers, heavy breakbulk and general cargo. Thus, the electrification of ports equipment will drive the growth of the market.
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Key benefits of the report:
- This study presents the analytical depiction of the container handling equipment market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the container handling equipment market.
- The current market is quantitatively analyzed to highlight the container handling equipment market growth scenario.
- The report provides a detailed container handling equipment market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the container handling equipment market research report:
- Which are the leading market players active in the container handling equipment market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the container handling equipment market?
- What are the projections for the future that would help in taking further strategic steps?
โContainer Handling Equipment Market Report Highlights
| Aspects | Details |
| By Equipment Type | Forklift Truck Stacking Crane Mobile Harbor Crane Rubber Tiered Gantry Crane |
| By Propulsion Type | Diesel Electric & Hybrid |
| By Handling | Automatic Manual |
| By Region | North America (U.S., Canada, Mexico) Europe (France, Germany, UK, Russia, Rest of Europe) Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific) LAMEA (Latin America, Middle East, Africa) |
| Key Market Players | Cargotec Corp, HELI Southeast Asia Co. Ltd, Liebherr, Hyster-Yale Materials Handling Inc., Anhui Heli Co. Ltd, Shanghai Zhenhua Heavy Industry Co. Ltd., SANY, Toyota Industries, Hoist Liftruck Mfg LLC, Konecranes |
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