Container Handling Equipment Market Projected to Witness Vigorous Expansion by 2029

Containerization for cargo transport started trending in the 1960s and has been popular around the world ever since. Currently, approximately 90 per cent of all non-bulk cargo and more than half of all dry cargo is being shipped through containers. As a result, the demand for container handling equipment has also grown and is expected to continue for the foreseeable future.

In addition, the sizes of container ships have also gotten substantially bigger in recent years, while increased demand for better efficiency will push for more containers to be worked on in shorter ship call durations. This is further augmented by the greater need for flexibility in operations when it comes to logistics processes.

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Increased Proliferation of Automation in Cargo Terminals

Rising levels of port activities around the world have resulted in a number of lucrative opportunities in the container handling equipment market. In addition, sustainability initiatives and anti-pollution measures have resulted in the increased adoption of hybrid and electric variants. This has been augmented further by increased interest by governments towards vehicles and equipment that contribute to carbon emissions.

The increased proliferation of automation technologies is anticipated to give major impetus to the global container handling equipment manufacturing industry. The uptick in global trade, particularly through marine routes are expected to provide traction to the industry.

Containerization has become a popular trend owing to superior safety, speed and reliability, which has pushed innovations of new technology such as straddle carriers operated by artificial intelligence systems. Improvements to regulatory compliance and safety standards have reduced loses for the marine industry, thereby impacting the container handling equipment market.

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Asia and Oceania Nations Display Greater Interest

The Asia Pacific is an important region for the container handling equipment market, which can be attributed to the large shipping industry of the region. The combined demand for container handling equipment in South Asia, East Asia, and Oceania nations account for ~ 5.1 per cent. This growth will be supported by the massive populations of China and India and the resultant strength of import and export trade.

On the other hand port activities are also witnessing an increase in Europe, with the UK, the Netherlands, Luxembourg, and Belgium being major contributors. On the other hand the demand for cargo handling equipment in North America is expected to display a sluggish CAGR of ~2.4 per cent.

Major Players Focus Efforts on Mergers and Acquisitions

Shipping lines are increasingly getting involved in collaborative efforts, which is having its impact on traffic flow and has resulted in changes to efficiency standards. Manufacturers in the container handling equipment market such as Konecranes, Palfinger Structural Inspection GmbH, Italian Trevolution Service SRL, and more have been involved in collaborations, acquisitions and mergers, with the primary objectives of bolstering their portfolios.

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In order to keep up with the demand, manufacturers have increased their push to launch new products, through increased investments in research and development activities, most of which includes AI and automation in bulk material unloaders, forklift trucks, heavy duty cranes, stacking cranes, ship to shore cranes, reach stackers, straddle carriers, and terminal tractors among others.