USD 10.6 Billion
Cargo Handling Equipment Market Size, Share, Growth Analysis, By Type(Forklift trucks, portable harbor cranes, stacking cranes and transport frameworks), By Mode of Propulsion(Diesel and Electric), By Application(Air Load, Rail Cargo, Marine Cargo and Land Cargo.), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20W2012 |
Region:
Global |
Published Date: March, 2024
Pages:
168
|Tables:
88
|Figures:
69
Cargo Handling Equipment Market Insights
Global Cargo Handling Equipment Market size was valued at USD 10.6 Billion in 2022 and is poised to grow from USD 28.5 Billion in 2023 to USD 48.3 Billion by 2031, at a CAGR of 5.3% during the forecast period (2024-2031).
The market for cargo handling devices has experienced a massive expansion in recent years, driven by the growing need for effective handling of goods across many industries. An increasing number of countries are engaging in international trade, which has led to a need for sophisticated and dependable technology to facilitate logistics operations. Important players in the market are always coming up with new ideas to provide technologically advanced solutions that boost output and cut costs. A vast array of equipment types, including forklifts, cranes, conveyor systems, and automated guided vehicles (AGVs), define the industry. Due to their broad use in warehouses and distribution centres, as well as their versatility, forklifts continue to dominate the market.
To increase productivity and safety, companies are investing in automated crane systems and automated guided vehicles (AGVs), which could lead to a substantial change in cargo handling towards automation and robotics. Due to rapid industrialization and infrastructure development in countries like China and India, the Asia Pacific region is becoming increasingly important in the shipment handling equipment market. Great market stocks are also maintained in North America and Europe, thanks to the existence of established production and logistics sectors.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Fastest Growth
Rail Cargo
Growth Rate
5.3% CAGR
Cargo Handling Equipment Market
Country Share for North America Region (%)
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Cargo Handling Equipment Market Segmental Analysis
A thorough understanding of the transportation equipment market's many components, as well as system type, application, and geographic areas, may be obtained through segmental analysis. Through market segmentation, researchers are able to examine the distinct dynamics and opportunities for growth within each class. With this approach, stakeholders can adjust their investments and plans according to specific market demands and trends. Segmental analysis provides invaluable information on new features, the competitive landscape, and consumer preferences. This helps businesses make informed decisions and maximize profits in the ever-changing shipment system market.
Analysis by Type
The assessment of the transportation equipment market by stop-person revealed a diverse landscape influenced by different business requirements. The logistics and transportation industry commands a significant share of given-up clients because of its heavy reliance on shipment tracking devices for environmentally friendly product movement. Globalization, the expansion of e-commerce, and delivery chain optimization are some of the reasons driving demand in this region. In a similar vein, a sizeable portion of the industrial sector also depends on shipment systems for fabric management inside the manufacturing and distribution centers. On the other hand, the agriculture sector accounts for one of the lowest shares, frequently as a result of its limited adoption of automated systems for shipment management and dependence on conventional methods.
Typically, agricultural sports include larger, more asymmetrically shaped masses that may not conform to popular freight handling device specifications. Nonetheless, there is potential for a boom in this stage given the increasing mechanization advancements in agriculture. In general, stakeholders must be aware of the diverse demands and preferences of departing customers throughout niche markets in order to effectively address market demands and seize growth opportunities.
Analysis by Application
The analysis of the cargo equipment market across application provides insights into the many applications and features of the shipment handling system across various industries. One of the main uses is in distribution and warehousing, where equipment like pallet jacks, conveyors and forklifts are necessary for effective storage and transportation of items. The increasing demand for computerized solutions to optimize space utilization and expedite operations helps this phase. In ports and terminals, where cranes, field handlers and reach stackers are crucial to the loading and unloading of cargo from vehicles and ships, there is also a significant amount of software.
With international trade volumes continuing to rise, ports are investing in cutting-edge machinery to increase output and shorten turnaround times. Furthermore, specialized machinery like telehandlers and excavators are used in the mining, construction, and agricultural industries, where shipment devices are heavily utilized for fabric handling tasks. Growth in the shipment system market is anticipated as a result of businesses changing and searching for more effective ways to handle shipments. This will increase demand for contemporary equipment solutions that are specifically tailored to certain applications.
Cargo Handling Equipment Market biomaterials
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Cargo Handling Equipment Market Regional Insights
Regional analyses of the cargo gadget industry show that different trends and dynamics exist in different geographic areas. With the largest market share, Asia Pacific stands out as a crucial region because to its rapid industrialization, urbanization, and expansion of its logistics network. Due in large part to the expanding alternative sports and rising manufacturing sector, countries such as China, India, and Japan are witnessing a sharp rise in demand for cargo managing devices. The government's efforts to improve port hubs and logistical networks are also contributing to the local economy's expansion. Furthermore, Asia Pacific is adopting better cargo handling technology due to the growth of e-commerce platforms and the desire for environmentally friendly delivery chain management.
Another sizable market for cargo devices is found in North America, where the US leads the region in terms of market length. A strong focus on automation and technological innovation, together with the existence of interconnected industries like automotive, retail, and aerospace, fuel the need for sophisticated shipping handling solutions. Furthermore, the location's focus on environmental rules and sustainability is encouraging the use of green system solutions.
Europe is a significant player in the cargo device industry as well, helped by the region's highly developed transportation network and extensive trade connections. Through their investments in port modernization and logistics optimization projects, nations like Germany, the United Kingdom, and France are major contributors to the expansion of the sector. Furthermore, strict safety regulations and the incorporation of virtual technologies are reshaping the European market landscape and propelling the uptake of advanced shipment handling devices.
In contrast, regions such as Latin America and the Middle East & Africa see slower rates of economic growth because of a variety of issues, such as unstable political environments, insufficient infrastructure, and financial instability. But in the upcoming years, it's anticipated that growing expenditures on economic diversification and infrastructure development initiatives will drive market expansion in such sectors. Overall, local insights draw attention to the range of opportunities and difficulties that exist in the shipment equipment market, highlighting the need of comprehending local market dynamics and customizing strategies in order to maintain growth and competitiveness.
Cargo handling equipment market By region
- Largest
- Fastest
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Cargo Handling Equipment Market Dynamics
Drivers
Supply Chain Optimization:
- Advanced shipping management systems are becoming more and more popular as a result of businesses concentrating more on streamlining their delivery chains in order to save costs, shorten transit times, and increase customer satisfaction.
Industry Diversification
- Device cargo handling is essential in many different industries, such as manufacturing, retail, automotive, and creation, offering a variety of market prospects for device manufacturers and suppliers.
Restraints
Infrastructure Limitation:
- The global market for cargo handling equipment is severely constrained by limitations in infrastructure development, especially in emerging economies. The effective flow of commodities is hampered by inadequate port facilities, antiquated warehouse infrastructure, and poor connection, which reduces demand for cargo handling equipment and prevents market expansion.
Expensive Maintenance Cost
- The high initial cost and ongoing maintenance expenses of owning and maintaining specialized machinery are hurdles for the worldwide cargo handling equipment industry. The high initial cost and continuous maintenance associated with buying equipment like cranes and forklifts prevents many businesses, especially SMEs, from entering new markets and becoming market leaders.
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Cargo Handling Equipment Market Competitive Landscape
The market for cargo handling equipment is characterized by fierce rivalry, with major competitors vying for market share by expanding their product lines, innovating, and improving their innovativeness. Businesses that dominate the industry include Liebherr Group, Cargotec Corporation, Toyota Industries Corporation, and Konecranes. These companies use their strong R&D capabilities and wide distribution networks to stay ahead of the competition. These leaders in the sector concentrate on strategic alliances, mergers, and acquisitions in order to bolster their market position and meet a variety of client needs. Additionally, as businesses strive to provide more effective, economical, and sustainable cargo handling solutions, technical breakthroughs like automation, electrification, and digitalization are crucial in forming competitive strategies.
Top Player’s Company Profiles
- Anhui Heli (China)
- Mitsubishi Corporation (Japan)
- Konecranes (Finland)
- Toyota Industries (Japan)
- JBT Corporation (U.S.)
- Liebherr (Switzerland)
- Kion Group (Germany)
- Sany (China)
- Terex Corporation (U.S.)
- Mitsubishi (Japan)
- Macgregor (Finland)
- Hyster (U.S.)
- Kalmar (Finland)
Recent Developments
- In July 2020, PayCargo and IBS Software, two of the major participants in the cargo industry, made the decision to launch a combined organization in cooperation. This allowed for the merging of APIs and offered an improved computerized installment stage for cargo handling equipment, which produced substantial profits for both businesses.
- In February 2020, the most well-known company, California Air Resource Board (CARB), planned to deploy zero outflow cargo gear in a variety of applications, including rail yards, transportation hubs, air terminals, and others. This endeavor required a significant investment of $44 million.
Cargo Handling Equipment Key Market Trends
- Fast Emerging Cargo Trends in the Market: There are notable developments in the cargo handling equipment market that are changing the industry's environment and driving growth. The growing need for cargo handling equipment in a variety of industries, such as logistics, transportation, maritime, and aviation, is one noteworthy development. In order to simplify the transportation of goods and commodities, there is an increasing need for dependable and effective cargo handling systems due to the global expansion of trade, e-commerce, and supply chain networks.
- Automation Overhaul: In the cargo handling equipment market, automation and digitization are becoming more and more important due to technologies like Industry 4.0, the Internet of Things (IoT), and artificial intelligence. Increasingly, businesses are looking for automated and intelligent equipment solutions that provide real-time monitoring, predictive maintenance, and data-driven insights in order to increase productivity, safety, and efficiency in their cargo handling operations.
Cargo Handling Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the market for shipping labeling devices is expected to rise significantly due to factors such as increased globalization, expanded e-trade, and stricter regulations. The need for better labelling solutions is only growing as businesses work to improve the efficiency and compliance of their supply chains. Prominent players in the industry are capitalizing on technological advancements like RFID, barcode scanning, and automation to provide cutting-edge labelling devices that enhance precision, accountability, and operational effectiveness. Furthermore, the market is changing due to the increasing emphasis on sustainability and environmental responsibility, as well as the increased need for eco-friendly materials and energy-efficient solutions. All things considered, strategic alliances, product uniqueness, and a customer-focused approach can be essential for businesses to prosper in the cutthroat shipment labelling device market and take advantage of new opportunities inside the global logistics sector.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 10.6 Billion |
| Market size value in 2031 | USD 48.3 Billion |
| Growth Rate | 5.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cargo Handling Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cargo Handling Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cargo Handling Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cargo Handling Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cargo Handling Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cargo Handling Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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