The equipment used to move cargo from one location to another is referred to as freight handling equipment or cargo handling equipment. These pieces of equipment offer security, safety, reduced time and expense, increased handling velocity, and adaptability. Diesel, electricity, or a mix of the two can power this gadget. Ships were the only means of goods transportation in the past. Container ships are used to convey products and services using cargo handling technology. The requirement for cargo handling equipment has increased rapidly due to the utilization of this equipment in end-use industries. Cargo cranes, yard tractors, container handlers, and forklifts are among the few vehicles used to move the equipment.
According to SPER market research, ‘Cargo Handling Equipment Market Size– By Product, By Equipment Type, By Propulsion, Cargo Type, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the Global Cargo Handling Equipment Market is predicted to reach USD 33.19 billion by 2032 with a CAGR of 3.27%.
Growing international trade and a robust logistics sector are driving forces behind the cargo handling equipment market's expansion. Tractors and forklifts are the most widely used trailer types. The elements driving the market's demand include the rise in air freight, industrial output, and seaborne trade. The factors driving the growth of the cargo handling equipment market are the need for equipment with fewer emissions and greater fuel economy in order to meet the strict emission regulations. The market is expanding as a result of the increased interest in the maritime industry.
Trade restrictions, however, are impeding the expansion of the freight handling equipment market. Tariffs on imported products are examples of trade obstacles. As imports decrease due to tariffs, the cost of imported items increases. However, the establishment of new ports is being hindered by the high capital costs and lengthy building times associated with port infrastructure upkeep, which is impacting the market for cargo handling equipment. The market's growth is hindered by a lack of coordination between various port equipment and cargo handling system mishaps.
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Numerous sectors have been badly impacted by the COVID-19 epidemic. Due to the ongoing lockdowns, the majority of business sectors including transportation, food and beverage, automotive, and electronic and electrical were affected. The majority of governments implemented strict laws, including lockdowns, closures of public spaces prohibitions on certain types of transportation, and more. The market is also impacted by the COVID-19 pandemic. The manufacturing sectors stop producing as a result of the lockdowns because of the interruptions to the supply chain, labor shortages, and raw material shortages. The cargo handling equipment industry is expanding quickly since the online procedure was introduced. Over the course of the projected period, a notable growth rate is expected in the market.
Cargo Handling Equipment Market Key Players:
Geographically, Asia-Pacific is holding the greatest market share due to the region's growing inventive advancements, advancements in import and transportation, and advancements in web-based commerce. Globalization is growing as a result of the growth of import and material prices between different countries in this region. The market's utilization is later expanded by this expansion of globalization. Key players are ABB, Anhui Heli, CARGOTEC CORPORATION, Gantrex, Hangcha Forklift, Hoist Material Handling, Inc., Hyster-Yale Group, Inc., KION GROUP AG, Konecranes, Liebherr-International Deutschland GmbH.
Global Cargo Handling Equipment Market Segmentation:
By Product: Based on the Product, Global Cargo Handling Equipment Market is segmented as; Trucks, Man Lifts, Rail Pushers, Electric Pallet Jacks, Excavators, Tractors, Bulldozers, Side Picks
By Equipment Type: Based on the Equipment Type, Global Cargo Handling Equipment Market is segmented as; Aviation Dollies, Stacker, Pallet Jacks, Loader, Conveyors System, Automated Guided Vehicle, Forklift trucks, Cranes, Rubber Tired Gantry Cranes, Reach Stackers, Terminal Tractors
By Propulsion: Based on the Propulsion, Global Cargo Handling Equipment Market is segmented as; Diesel, Electric, Others
By Cargo Type: Based on the Cargo Type, Global Cargo Handling Equipment Market is segmented as; Container Cargo, Dry Bulk Cargo, Liquid Bulk Cargo, Break Bulk Cargo, Ro-Ro Cargo
By Application: Based on the Application, Global Cargo Handling Equipment Market is segmented as; Air Cargo, Marine Cargo, Land Cargo
By End User: Based on the End User, Global Cargo Handling Equipment Market is segmented as; Automotive, Consumer Retail, Energy Resources, Manufacturing, Transportation, Others
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Container Handling Equipment Market Future Outlook
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