Hybrid Variants and Automation Across the Globe Remains the Top Driving Factor for Container Handling Equipment Market
Fact.MR has come out with an exclusive forecast report for the container handling equipment market between 2019 and 2029.
Providing different insights on technological advancements, market scenario, and demand generators in container handling equipment market is the main aim of this report.
Also, the study on container handling equipment market gives the important dynamics that are expected to diversify the sales and the future prominence of container handling equipment market.
The demand for container handling equipment has increased significantly in the past few years, and likely to maintain a steady course of growth over the forecast period.
The growing port activities across the globe have created considerable opportunities for container handling equipment market. Owing to enhanced awareness about pollution among consumers, the container handling equipment market players have introduced the electric and hybrid container handling equipment and the consumers are more attracted towards them.
Growing government concerns for low carbon emitting vehicles and machineries, and imposition of stringent regulations by governing bodies for reducing carbon emissions have further boosted the sales of electric and hybrid container handling equipment.
The higher demand for electric units is due to their multiple benefits such as, 100% emission free work and noiseless operation. However, the increased developments in the field of automation is expected to give immense traction to the container handling equipment worldwide.
International trade upturn coupled with increasing dependency on seaborne trade continue to remain influential factors in pushing the adoption of container handling equipment across the globe.
Manufacturing, mining, energy and various other sectors rely heavily on the shipping industry in order to ensure a steady supply of raw materials and end products. Bulk commodities account for over an 80% share in global seaborne trade. Increased speed, safety and reliability of containerization influences companies to innovate new technologies for container handling equipment.
For instance, ZPMC, a leading Chinese manufacturer of marine cranes has developed an AI straddle carrier, which can perform unmanned driving like self-location & autonomous navigation. Container handling equipment continues to witness profitability across the world on the backdrop of increasing containerized trade worldwide.
In recent years, owing to the development of a robust safety culture and continuously changing regulations, the maritime safety has increased.
As compared to the past, many port operators are now focused on safety. The decrease in the number of total losses and incidents year-on-year is the effect of this improving safety culture of the marine industry, which shows a positive impact on the growth of container handling equipment market.
Merger and Acquisitions Remain the Key Strategies of Companies
New alliances between shipping lines are affecting container traffic flows and setting new efficiency standards for port operators. By delivering synergetic mergers between two container shipping lines, cost savings can be achieved along with long term strategic advantages.
During the forecast period, the global market for container handling equipment is estimated to grow as the competitors and their competition with present market players is increasing. With the help of strategic developments, such as acquisitions, collaborations and mergers, the manufacturers in container handling equipment are anticipated to increase their business portfolio.
For example, in the year 2019, one of the prominent container handling equipment market players and Finnish lifting solutions provider Konecranes has acquired one of largest crane service companies in Italy, Italian Trevolution Service SRL, specializing in crane modernizations, repairs, maintenance, spare parts and hoists, and components. In the same year, another container handling equipment market player Sany Heavy Industry Co., Ltd.
partnered with ANGST Group and VCE (Vienna Consulting Engineers) ZT GmbH to form a joint venture called Palfinger Structural Inspection GmbH (STRUCINSPECT).
Key market players are doing a lot of investment in R&D work to fulfill the requirements of customers across the world. Across the globe, the container handling equipment market is fragmented due to the presence of multiple market players. The container handling equipment market has significant competition. In order to remain in sync with the demand, the manufacturers are launching new products by investing in research and development activities.
The availability of container handling equipment at distribution channels generates variations in price causing an increase in the competition among the market players. This would make way for the manufacturers to deliver more technologically advanced, cost efficient, and newer generation container handling equipment during the forecast period.
In order to strengthen their position as technology leaders in the market, investment in research and development activities is one of the important strategies implemented by the market players. In addition, to enhance their global presence, the companies ensure that their products are available in all the regions across the globe.
The key market players offer the container handling equipment under different categories such as forklift trucks, automated stacking cranes, reach stackers, terminal tractors, rail mounted gantry cranes, automated guided vehicles, rubber tired gantry cranes, straddle carriers, ship to shore cranes, standard duty cranes, heavy duty cranes and bulk material unloaders, etc.
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Growing Public Private Partnerships (PPP) in Ports and Diminishing Oil Prices to Trigger Growth
Maximum global trades are carried out via sea routes. So maritime transport plays an important role in the overall development of countries who participate in global trade. The port operation requires heavy manpower and equipment investments.
As a result, some countries are adopting Public Private Partnership (PPP), in which the management and operation responsibilities are given to private companies, while some assets remain with the government. This trend is mainly acquired in developing countries and some developed nations due to the high initial investment associated with the development of terminals.
This, combined with different companies focusing on production enhancement, has fueled the growth of the container leasing sector, which in turn has supported the growth of container handling equipment market during the forecast period.
Considering the projected growth in the GDP of the world, merchandise trade and the downside risks to the global economy and trade policy, different estimates of upcoming seaborne trade have been put forward and all appear to converge on a continued growth path in world seaborne trade in 2018.
This has translated into a considerable increase in development of large ships with a high container capacity. In response to this, container handling equipment manufacturing is anticipated to further accelerate to oblige the growing demand. In the forthcoming years, this factor remains an important growth driver for container handling equipment market.
A changing scenario in the world is a decrease in oil prices which is anticipated to support the shipping industry, in turn pushing the demand for container handling equipment.
That said, the production of fuel is expected to rise in the coming years, covering new opportunities of growth for container handling equipment. For instance, the US EIA (Energy Information Administration) estimated that the production of fuel is anticipated to touch 10.7 million barrels per day, the highest production registered in US history.
This has raised the dependence of manufacturers in the shipping industry for transportation of products. As a result, decreasing oil prices combined with a rising shipping industry is anticipated to fuel the demand for container handling equipment during the forecast period.
On other hand, pushing fully automated operations by international maritime ports over the last decade has aggravated U.S. longshoremen whose way of life and jobs are at stake.
The automation trend also sets up a battle between their governments, companies and unions who see automation as more cost-friendly and efficient alternative to system.
California is at front in the battle as the ports of Los Angeles, Oakland, and Long Beach handle 40% of U.S. container traffic and is anticipated to rise with the expansion of the Panama Canal.
South Asia and Oceania Regions Provide Ample Opportunities for Growth of Container Handling Equipment Market
In case of container handling equipment market, the Asia Pacific is an important region. The market for container handling equipment in the Asian regions has also increased due to significant momentum by the shipping sector over there.
The market for container handling equipment in regions such as East Asia and South Asia combined with Oceania is estimated to increase at a significant value CAGR of around 5.0% and 5.1% respectively and will represent a total incremental opportunity of about US$ 176.5Mn and US$ 280Mn respectively in terms of value during the forecast period.
Due to the presence of a huge population in developing countries like China and India in the Asian region, the export and import business over there is increasing significantly which plays an important role to drive the container handling equipment market.
In addition, the growing seaborne trade in Asian countries also provides ample opportunities for growth of container handling equipment over there.
The increasing port activities will also increase revenues for the European shipping sector. Benelux and UK are considered to be the major market for container handling equipment, with around 45% of share held by these two countries in European Market.
On other side, The North American container handling equipment market, includes country wise analysis for countries like U.S., and Canada. The U.S. container handling equipment market is expected to grow at a CAGR of around 2.4% by value over the forecast period.
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Key Segments of the Container Handling Equipment Market
Fact.MR’s study on the container handling equipment market offers information divided into five important segments—by equipment, propulsion, weighing capacity, application and region.
This report provides detailed data and information about the different market dynamics and growth parameters related with these categories.
Container Handling Equipment Market - Scope of the Report
Container handling equipment market study done by Fact.MR gives out information related to how the market will gain momentum during forecast period 2019 to 2029. The main objective of the report is to give insights on the advancements in the global container handling equipment market.
This newly published report provides market dynamics that are anticipated to influence the current and future status of the container handling equipment over the forecast period. This report offers updates on drivers, restraints, trends, opportunities and value forecasts for manufacturers operating in the container handling equipment market.
A section of the report discusses different factors that are shaping external, as well as internal, competition in the container handling equipment market. Container handling equipment market is expected to grow at a significant pace in the near future.
For the readers to better understand opportunities in the container handling sector, which will, in turn, trigger the adoption of the container handling equipment, the analysis of different opportunities is included in the report.
On the basis of key manufacturers the report offers comprehensive market share analysis of the container handling equipment.
A section of the report highlights country-wise container handling equipment market and gives a market outlook for 2019 to 2029. The report sheds light on activities and developments executed by the manufacturers operating in the container handling equipment market.
Important Questions Answered in Fact.MR’s Market Report
- Which factors will create a change in the demand for container handling equipment during the assessment period?
- How will changing trends impact the container handling equipment market?
- Which regions will continue to remain the most profitable regional markets for container handling equipment market players?
- Which companies are leading the container handling equipment market?
- How the overall competition in the container handling equipment market is progressively increasing?
- How can market players catch the low-hanging opportunities in the container handling equipment market in developed regions?
Container Handling Equipment Market - Research Methodology
The report titled “Container Handling Equipment” focuses on providing information regarding the volume and value of market from a global perspective. The research on the container handling equipment market was started through secondary research on the product, using both bottom-up and top-down approaches.
Future and current prospects of the container handling equipment market containing future as well as current projected values and study on demand trends have been included in the report.
Assessment offered on the aforementioned factors are comprehensive, and dedicated weighted chapters on the same have been added to the report.
In addition, the yearly revenue generated from container handling equipment manufacturing companies were obtained from both primary as well as secondary sources.
Over the forecast period, fluctuations in annual prices is based on the expected percentage change and market trends in the upcoming years. Any increase or decrease in price in the upcoming years is kept linear for all the regions.
The approach was further confirmed by the primary respondents across the entire value chain of container handling equipment market, such as manufacturers and independent service providers.
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Is the market research conducted by Fact.MR?
Yes, the report on the radiation proctitis treatment industry has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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