Container Handling Equipment Market Prospects and Growth Assessment Presented Until the End of 2029

Increase in worldwide port activities have generated plethora of opportunities in the global market for container handling equipment. This development is on the backdrop of growth of awareness regarding pollution. Major stake holders in the global market have launched different types of container handling equipment in market like hybrid container handling equipment and electric container handling equipment in order to attract customers. Government is taking initiatives to encourage manufacturing of vehicles with low carbon emissions. Stringent regulations have been formed to regulate carbon emission. Both the factors surge the sale of both types of container handling equipment i.e. electric and hybrid. The demand is more for the electric units because of its positive attributes such as zero emission and noise-free operation. Enhanced automation activities have created momentum in the global container handling equipment market.

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Factors like surge in international trade along with growth in dependency on seaborne trade, collaboratively increase the adoption rate of container handling equipment. Shipping industry forms the basis of materials supply across many industries including mining industry and energy industry. Container handling equipment are extensively used here, especially in transporting bulk commodities that are known to be responsible for 80% of the total trade conducted through sea route. Containerization of commodities gives certain benefits like enhanced speed and safety along with reliability, which compels the major companies in the global market to introduce innovative technologies in the market. ZPMC which a prominent manufacturer in China, introduced AI straddle carrier to perform different activities like autonomous navigation and self-location driving, without any manual intervention. Surge in containerization globally has proportionally increased the profitability of the associated stake holders.

Alliances in shipping lines impact port traffic flow

Rapid developments in robust safety culture along with changing regulations have significantly increased the maritime safety. Numerous port operators are increasingly getting focused towards safety. In return, the rate of accidents and losses have reduced over the years.

New alliances have emerged between shipping lines which influences traffic flow of containers. This has also helped pot set up new standards for the operators of the ports. Mergers between shipping lines of containers aid in reducing the cost of over all activities which contribute in strategic advantages that can be reaped in long term. Fact.MR report predicts that the competitive landscape of the global container handling equipment market will get intense in the coming years owing to the growth in number of competitors.

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Manufacturers in the global market are making strategic moves like collaborations and acquisitions which is anticipated to expand their business and product portfolio. One of the leading market players named Konecranes acquired Trevolution Service SRL that deals with cranes and different activities associated with it that includes repairs, modernizations and spare parts. Sany Heavy Industry Co., Ltd. and ANGST Group collaborated to create Palfinger Structural Inspection GmbH which is a joint venture in the container handling equipment market. Major stake holders are hugely investing in research and development activities to suffice the growing need of customers across the globe.