The Cargo Handling Equipment Market Size Was US$ 23.52 Billion In 2022 And Is Projected To Reach US$ 28.43 Billion By 2030, Growing At A CAGR Of 3.34% From 2022 To 2030.
The market for cargo handling tools is an important part of moving and transporting goods efficiently in many businesses. Cargo handling equipment includes the machines and tools that are used to load, unload, and move crates, bulk items, and general goods.
In recent years, the market for cargo handling tools has grown a lot. This is due to the growth of international trade and the growing need for efficient shipping and supply chain management. Industries like shipping, flight, manufacturing, and transport depend on cargo handling tools a lot to make sure things run smoothly and get the most work done.
The growth of seaborne trade is one of the main things that drives the market. Because there is more foreign trade and more use of containers, ports and piers are investing in new equipment to handle bigger ships and make things run more smoothly. Ports often use cranes, forklifts, reach stackers, and straddle carriers to load and remove containers from ships. This speeds up the process and lowers running costs.
In addition to seaports, airports also need special cargo-handling equipment to handle and move air freight quickly and efficiently. Ground support tools like aircraft loaders, baggage handlers, and cargo loaders are needed to load and remove goods from aeroplanes. This makes sure that deliveries are made on time and that there is as little downtime as possible. The demand for cargo handling tools is also driven by the manufacturing business. To move raw materials, parts, and final products around plants and stores, industries like automotive, pharmaceuticals, and consumer goods need good material handling tools. A lot of companies use forklifts, pallet trucks, and automatic guided vehicles (AGVs) to improve the efficiency of their internal transportation and operations.
E-commerce and the fast rise of online shopping have also made more people want cargo handling tools. Distribution centres and fulfilment stores use conveyors, automatic sorting systems, and robotic picking systems to handle a high number of packages and speed up the order fulfilment process.
Manufacturers of cargo handling tools are putting a lot of effort into making technology improvements so they can meet the changing needs of businesses. Automation, the Internet of Things (IoT), and artificial intelligence (AI) have been added to cargo handling equipment, which has made it safer, more productive, and easier to run. For example, automated cranes and robotic systems can improve the stacking and retrieval of containers by cutting down on human error and speeding up the process.
The growth of global trade, the rise of e-commerce, and the need for efficient logistics have all led to steady growth in the market for cargo handling equipment. The focus of the industry on technological improvements and automation is likely to make operations more efficient and move the market forward. As long as the world keeps relying on international trade and well-run supply chains, the demand for cargo handling equipment is likely to stay high in the years to come.
Trends: Automation and robotics have emerged as significant trends
Automation and robots have changed the market for goods handling tools in a big way, bringing big improvements and changing the way people used to do things. Advanced technologies like artificial intelligence (AI), machine learning, and robots have made it possible to handle goods in a more efficient and productive way.
One of the most important market trends is that more and more automatic guided vehicles (AGVs) and robotic systems are being used. AGVs are self-driving trucks that move along set tracks or with the help of navigation systems. They are a key part of automating the movement of goods in warehouses, delivery centres, and factories. These cars can move goods, pallets, or crates, so people don't have to do the work themselves and mistakes are less likely to happen. They can improve the flow of materials, make it easier to keep track of stock, and make it possible to run activities around the clock.
The market for goods handling tools has also become more interested in robotic systems. Robots with advanced sensors, computer vision, and artificial intelligence (AI) can do complicated jobs like picking, packing, and sorting things. They are especially helpful in places like e-commerce fulfilment centres and stores where there are a lot of small, different items. Robotic arms, grippers, and manipulators can handle different kinds of goods quickly and correctly. This makes operations run more smoothly and improves the accuracy of orders.
Also, automation and robots have made it easier for smart buildings and ports to be built. Intelligent software systems that are built into tools for handling cargo make it possible to watch, monitor, and handle activities in real time. This connection and data sharing improves processes, makes better use of resources, and makes it easier to make decisions. The Internet of Things (IoT) is a key part of this integration because it makes it easy for tools, systems, and users to talk to each other.
Automation and robots have also made a big difference in the area of safety. By automating dangerous jobs like heavy lifting or doing the same thing over and over, accidents and injuries to workers are less likely to happen. Collision prevention systems, sensors, and cameras that are built into automated equipment for handling goods make it safer and stop crashes from happening in busy, complicated work settings.
Also, automation and robots make operations more productive and efficient. Automated systems are faster, more accurate, and more reliable, which leads to shorter response times, better use of resources, and more output. Being able to handle more goods in less time improves the efficiency of the supply chain, lowers costs, and makes customers happier.
The market for cargo handling tools has a lot to gain from automation and robots, but there are also some problems to solve. Integration with the machinery that is already there, training for employees, and the need for maintenance and technical support are all things that need to be carefully thought through. Also, worries about job loss and the need for human control in some processes need to be dealt with to make sure the switch to automated systems goes smoothly.
The Internet of Things (IoT) and connectivity solutions are playing a crucial role in enhancing cargo handling operations
The Internet of Things (IoT) and connection solutions have changed the market for cargo handling tools and brought many benefits to the industry as a whole. IoT technology makes it easy for different devices and systems to connect and talk to each other. This means that cargo handling tools can collect and share real-time data to improve operating efficiency and decision-making.
With equipment that can connect to the Internet of Things (IoT), businesses can see and handle their processes better. When sensors and data collection devices are put on equipment like cranes, trucks, and conveyors, they collect useful information about how the equipment works, how it is being used, and what repair it needs. This data is then sent and analysed in real time, giving insights that can help optimise equipment use, reduce downtime, and boost total production.
Connectivity options are a key part of making sure that data can be sent and received quickly and easily. Reliable and strong communication networks, like Wi-Fi, cellphone networks, and industrial-grade communication protocols, make it easy for tools, control systems, and cloud-based platforms to share data without any problems. This connectivity makes it possible to watch and handle cargo-handling equipment from a distance. Operators and managers can get real-time information from anywhere, which makes operations more efficient and speeds up response times.
Putting IoT and connection together also makes it possible to do predictive repair. Predictive maintenance algorithms can find possible problems or failures before they happen by constantly watching how equipment works and analysing data trends. This proactive method helps businesses plan repair tasks, which cuts down on unplanned downtime and extends the life of equipment. Predictive repair not only saves money, but also makes sure that equipment works well and doesn't break down when it's needed most.
IoT and connectivity options also make it easier to track and control assets. Using GPS and RFID, both the equipment used to move goods and the cargo itself can be watched and kept an eye on throughout the supply chain. This gives real-time information about where things are, what their state is, and how they are doing. This improves visibility and makes logistics planning easier. It helps businesses find the best ways, plan for delays, and make sure things are delivered on time, which makes customers happier.
Putting IoT and communication technologies together also makes it possible to use data analytics and machine learning. Cargo handling equipment collects a huge amount of data that can be handled and analysed to get information that can be used. Machine learning systems can find patterns, trends, and outliers in the data. This helps businesses make choices based on the data and improve their operations. This data-driven method helps find business inefficiencies, make the best use of resources, and improve the general performance of the supply chain.
Drivers: The continuous growth of global trade is a significant driver
The growth of international trade has been a major force in the market for ship handling tools. As foreign trade keeps getting bigger, there is a greater need for equipment that works well and can move goods across businesses and areas. As the amount of trade goes up, ports, airports, and other logistics places must upgrade their facilities and buy new equipment to keep up with the demand.
Global trade has been made possible by things like globalisation, the opening up of trade policies, and the growth of new markets. Countries are trading more goods with each other because their economies are linked and companies want to sell their goods in other countries. Because of this, more goods is being moved by sea, air, and land than ever before.
Goods can be moved, loaded, unloaded, and handled more quickly and easily with the help of cargo handling tools. Ports are important hubs for international trade, and to handle containers, large cargo, and other goods, they need a lot of specialised equipment. Equipment like container cranes, reach stackers, straddle carriers, and terminal tractors are used to move containers from ships to trucks or trains quickly and easily. This makes sure that cargo activities go smoothly and on time.
Intermodal travel has grown along with the growth of world trade. This means that things are moved easily and quickly by sea, air, road, and train, among other ways. At different places along the intermodal supply chain, like ports, airports, rail yards, and distribution centres, there is a need for cargo handling tools. For the supply chain to work and for travel times to be shorter, it is important that goods can be moved from one mode of transport to another quickly and easily.
Also, the rise of e-commerce has helped the growth of global trade even more. Cross-border exports have gone up as a result of the growth of online shopping, which gives people around the world access to a wide range of goods from different countries. E-commerce warehouses and fulfilment centres use cargo handling equipment like conveyors, automatic sortation systems, and robotic picking systems to handle a high number of goods and make sure orders are filled on time.
To keep up with the needs of growing global trade, companies that make goods handling tools are coming up with new ideas and better ways to do things. Automation, IoT integration, and artificial intelligence are all examples of technological advances that are being used to improve the efficiency, productivity, and safety of equipment. To meet the changing needs of global trade, people are making equipment that can carry more, move faster, and keep track of things in more ways.
In the end, the growth of international trade has been a major factor in the growth of the market for cargo handling tools. As the amount of trade keeps going up, there is a growing need for efficient handling tools to help move goods through different types of transportation and logistics hubs. The market is predicted to keep growing as companies and logistics companies invest in new tools to meet the needs of global trade.
Infrastructure development projects, particularly in emerging economies
Infrastructure growth is a key factor in the growth of the market for cargo handling tools. Infrastructure investments, especially in ports, airports, and intermodal hubs, create a need for modern and efficient cargo handling equipment.
Ports are important parts of the global supply chain because they make it easier for things to move by sea. Port remodelling and growth projects are done when countries want to improve their trade abilities and make room for bigger ships. In these projects, new ports are built, waterways are deepened and widened, and high-tech cargo handling equipment is put in place. To handle the growing amount of containerized goods successfully, ports need container cranes, reach stackers, straddle carriers, and other specialised equipment. Infrastructure growth in ports increases their capacity, makes them run more smoothly, and makes it easier for goods to flow, which drives the demand for cargo handling equipment.
Airports are also important transportation hubs for cargo, especially for high-value things that need to be delivered quickly. With the rise of e-commerce and the growth of air freight, airports are building more cargo facilities to keep up with the growing demand. Airport infrastructure projects include building cargo terminals, putting in material handling systems, and buying cargo handling tools like aeroplane loaders, baggage handlers, and cargo loaders. Upgrades to airport facilities make it easier and faster to handle goods, which increases the need for specialised tools.
Intermodal hubs, which include rail yards and inland ports, are key places where goods can be moved easily between different kinds of transportation. Intermodal terminal infrastructure development works on making connections better and making it easier to move goods. Container cranes, forklift trucks, and specialised train movers are all types of cargo handling tools that are used to move containers and bulk goods quickly and safely. Investing in intermodal infrastructure helps support transportation that uses more than one mode, lowers transportation costs, and makes it easier for goods to move.
Infrastructure development projects are often started by the government or the private sector to boost economic growth, draw foreign investment, or improve the ability to move things around. Countries and areas with important physical locations and good trade policies invest in infrastructure to become key transshipment hubs or logistics centres. These projects give companies that make tools for moving goods chances to sell their products and technologies, which helps the market grow.
The building of warehouses, transport centres, and industrial parks is also part of infrastructure growth. To handle both incoming and outgoing logistics operations, these facilities need efficient tools for moving goods, such as conveyor systems, pallet jacks, and automated storage and retrieval systems (AS/RS). When modern material handling equipment is used in warehouses and delivery centres, it improves efficiency, cuts costs, and helps make sure orders are filled on time.
In conclusion, infrastructure development projects in ports, airports, transport hubs, and logistics facilities have a big impact on the demand for cargo handling equipment. Investments in infrastructure projects open up business possibilities for equipment makers, make cargo handling activities more efficient, and help the market for cargo handling equipment grow.
Restraints/challenges: Repair and Operating Costs
Throughout its life, cargo handling equipment needs regular repair and has operating costs. Routine maintenance, such as checks, replacing worn parts, lubrication, and fixes, is important to make sure that equipment works well and lasts as long as possible. There are extra costs for these kinds of upkeep, and the bigger the fleet of tools, the bigger the financial load. Also, some equipment, like cranes and automatic systems, may need to be maintained and fixed by specialists, which adds to the costs of running the business.
The quality and quantity of infrastructure have a big effect on how well goods handling equipment works. Infrastructure that isn't up to par can make it hard to move goods and affect how well the equipment works. For example, old ports with few berths or inefficient container handling systems can cause delays and traffic, which lowers the efficiency of the tools used to move goods. In the same way, bad road networks or a lack of transport connections can make it harder for goods to move from one place to another without any problems. This lowers the total efficiency of cargo handling operations.
Worker Training and Safety
To run container handling equipment, you need skilled and trained workers who know how to handle the equipment, follow safety rules, and know what to do in an emergency. But it can be hard to find and keep skilled workers, especially in areas where there aren't enough skilled workers. Businesses can also have trouble with the prices of training programmes and certifications. As working with goods handling tools can be dangerous, it's important to make sure workers have a safe place to work and follow health and safety rules. Companies need to put money into full training programmes and safety steps to reduce risks and make sure workers are healthy.
Manufacturers and users of cargo handling tools must follow strict environmental rules that aim to cut down on emissions and promote sustainability. To meet pollution standards and use environmentally friendly technologies, companies often have to spend more money on designing and changing their equipment. For example, switching from equipment that runs on gasoline to equipment that runs on electricity or a combination of the two can cost more up front. To make moving cargo less harmful to the environment, companies need to invest in eco-friendly options and put in place plans to cut down on emissions. Environmental laws not only cost money to follow, but they also require constant tracking and reporting, which makes operations even more complicated.
Opportunities: Growing demand for eco-friendly and sustainable cargo handling equipment
The market for cargo handling equipment has seen a fast rise in the demand for green and sustainable options. This is because more people are worried about the environment and more rules are being put in place to protect it. Businesses in all fields are putting more stress on lowering their carbon output and adopting practises that are good for the environment. This gives makers a big chance to make and sell green tools for handling cargo that fits with sustainability goals.
Energy efficiency is one of the most important parts of green options for equipment that moves goods. Focus is being put on making equipment that uses less energy when it is running. This includes improving power systems, cutting down on energy waste, and using tools that save energy. For instance, improvements in electric and hybrid technologies are making it possible to make container handling equipment that emits less pollution and uses less energy than diesel-powered equipment.
Another part of green solutions is cutting down on pollution and other harmful effects on the earth. Manufacturers are putting money into study and development of fuels like biofuels, natural gas, and hydrogen, which produce less pollution than fossil fuels. By making cargo handling equipment that can run on these alternative fuels, makers can help companies meet their emission reduction goals and follow strict environmental rules.
Also, green container handling equipment is made with materials and methods that are good for the environment. Manufacturers are looking into ways to make tools out of materials that can be recycled and have less of an effect on the environment. They are also using sustainable manufacturing practises, such as making good use of resources, reducing trash, and getting rid of old equipment in a responsible way. These steps help the tools last longer and are in line with the concepts of the circular economy.
In addition to the equipment itself, makers are working to make cargo handling processes more sustainable as a whole. This includes using smart technologies like the Internet of Things (IoT) and data analytics to make the best use of tools, cut down on downtime, and limit unnecessary moves. Manufacturers can help businesses make choices that are good for the environment and improve operating efficiency by giving them actionable information and real-time monitoring.
The market for green and sustainable cargo handling equipment is driven not only by worries about the environment, but also by customers' and stakeholders' rising knowledge and demand. Businesses want to work with suppliers who care about sustainability because it fits with their goals for corporate social responsibility. By making green products, companies can set themselves apart on the market and attract people who care about the environment.
Overall, putting green and sustainable options into the market for cargo handling tools gives manufacturers a big chance to meet the changing needs of businesses that want to lower their impact on the environment. Manufacturers can help make the future of the goods handling industry cleaner and more sustainable by making equipment that uses less energy, looking into alternative fuels, using sustainable manufacturing practises, and taking advantage of smart technologies.
Integration of Artificial Intelligence (AI) and Data Analytics
The use of Artificial Intelligence (AI) and data analytics together has become a major trend in the market for shipping handling tools. AI means that computers can do things that usually require human brains, like reason, learn, and solve problems. Data analytics is the process of drawing conclusions from large amounts of data to help people make better decisions. When used together, AI and data analytics can help shipping handling processes in many ways.
AI and data analytics make it possible to do predictive maintenance, which is a smart way to take care of equipment that helps reduce downtime and boost performance. AI algorithms can find trends, outliers, and possible equipment breakdowns by looking at data from cargo handling equipment in real time and from the past. This lets workers plan maintenance work before equipment breaks down, avoiding downtime and extending the life of the equipment.
AI and data analytics also improve business performance by making it easier to handle cargo. Data about equipment performance, cargo amounts, traffic patterns, and working limits can be analysed by advanced algorithms to find ways to make things better. This includes making the best choices about how to use equipment, how to divide up resources, and how to route things so that bottlenecks are kept to a minimum, waiting times are cut down, and total output goes up.
Integration of AI and data analytics also makes it possible to track and handle cargo handling tools in real time. Sensors and IoT-enabled devices gather information about the state, performance, and surroundings of equipment, which gives workers real-time insights. This lets workers make decisions ahead of time, so they can adjust quickly to changes, get the most out of their tools, and make sure that goods handling operations run smoothly. Intelligent decision support systems are also made possible by algorithms driven by AI. By using both past and real-time data, these systems can come up with ideas and suggestions that can be used. For example, they can suggest the best way to set up tools, find the most efficient routes, and improve the way a yard works. This helps owners make choices based on data, better use their resources, and run their businesses more efficiently.
AI and data analytics also help make ship handling processes safer and better at managing risks. AI programmes can find possible safety risks and send out warnings in real time by analysing data from different sources, such as equipment sensors and external data feeds. This makes people more aware of their surroundings, lets them take safety steps on their own, and helps prevent accidents.
The use of AI and data analytics in ship handling tools also makes it possible to keep improving and coming up with new ideas. By looking at past data and user comments, makers can find ways to improve their products, come up with new features, and change their tools to meet the changing needs of the industry. This iterative process makes sure that the tools used to move goods keeps changing to meet the needs of a changing market.
In conclusion, putting AI and data analytics into cargo handling tools has a lot of benefits for the business as a whole. AI and data analytics change the way cargo handling operations are done in many ways, such as through predictive repair, operational optimisation, real-time tracking, intelligent decision support, increased safety, and constant growth. As technology keeps getting better, AI and data analytics are likely to change the market for shipping handling tools even more, making it more efficient, productive, and safe.
Major Market Segments Covered:
On the Basis of Type:
Conveyors are systems that can be used to move items or materials along a set path. They move things from one place to another using a number of belts, rollers, or chains. Conveyors can either be run by machines or by hand. They are often used in factories for assembly lines, in warehouses for sorting and distributing, and at airports for carrying bags.
Forklift trucks are driven industrial vehicles with forks that can be moved up and down to lift and move things. They come in different shapes and sizes and can carry different amounts of weight. In warehouses and distribution centres, forklifts are often used to load and unload trucks, stack boxes and move goods around the building. For unique jobs, they can also be fitted with attachments like clamps or side-shifters.
Also called pallet trucks, pallet jacks are used to move palletized loads. They can be moved by hand or with an electric motor. They have forks that can be put under boxes and raised by pumping a hydraulic lever or using an electric motor. Pallet jacks are often used in factories and retail stores to move pallets of things over short distances. They are easy to use and move around in small areas.
AGVs (Automated Guided Vehicles)
AGVs, or "Automated Guided Vehicles," are self-driving cars that can move things without help from a person. They have sensors, cameras, or lasers that can find and avoid barriers and follow routes or directions that have already been set up. AGVs are used to move materials, pick up orders, and feed lines in industries like the automobile, industrial, and logistics industries. They can make things run more smoothly, save money on labour, and make things safer.
Cranes are big, heavy-duty tools that are used to move and lift heavy things. To lift things, they use things like ropes, hoists, and winches, among other things. Overhead cranes, gantry cranes, tower cranes, and movable cranes are all different kinds of cranes. Cranes are necessary in ports to load and unload goods from ships, on building sites to move materials, and in factories to move heavy parts.
This group includes different kinds of specialised tools for moving cargo. In ports and docks, containers are moved with the help of straddle carriers. Reach stackers are very useful tools that are used in ports and container yards to stack and move crates. Scissor lifts are vertical platforms that can be used to get to high places and load or unload things at different heights. Container workers are made so that they can lift and move shipping containers quickly and easily.
On the Basis of Application:
In the industry sector, cargo handling equipment is used a lot in places like factories, warehouses, and delivery centres. For these facilities to handle raw materials, parts, and finished things effectively, they need tools like forklift trucks, conveyors, and pallet jacks. In industrial settings, cargo handling equipment is a key part of streamlining production processes, making it easier to keep track of supplies, and making sure materials flow smoothly through the building.
The aerospace business uses cargo handling tools a lot to move and handle aircraft parts, engines, and other cargo related to flight. Specialised tools like aeroplane loaders, baggage workers, and cargo loaders are often used for this purpose. In the flight business, cargo handling equipment has to meet strict safety and quality standards to make sure that valuable cargo stays safe and in good shape.
The automotive business uses cargo handling tools a lot to move vehicle parts, finished cars, and other parts and pieces. In factories, stores, and centres for distributing cars, people use things like conveyor systems, forklift trucks, and AGVs. In the automobile industry, cargo handling equipment makes logistics work better, making sure that parts get to assembly lines on time and that cars get to stores quickly.
Cargo handling equipment is an important part of the transportation industry, which includes ports, hubs, intermodal centres, and train yards. Ports use tools like container cranes, reach stackers, and straddle carriers to move containers and goods between ships, trucks, and trains quickly and efficiently. In the transportation industry, cargo handling equipment helps keep the flow of goods easy, improves port efficiency, and helps intermodal transportation work well.
The "Others" group includes all the different ways that cargo handling equipment can be used that aren't listed in any of the other categories. It can include retail and e-commerce stores, healthcare and pharmaceutical logistics, energy and utilities, and specialised businesses with their own needs for handling goods. For example, order pickers and palletizers may be needed in retail stores, while medical goods and equipment may need to be moved with the help of specialised equipment in healthcare logistics.
On the Basis of End-Use Industry:
Ports and Terminals
Ports and terminals are important hubs for international trade, and they need a wide range of cargo handling tools to handle containers, bulk items, and other types of cargo. Equipment like ship-to-shore and gantry cranes, straddle carriers, reach stackers, forklifts, and conveyor systems are often used in ports and docks. These types of tools allow ships to be loaded and unloaded quickly, containers to be stacked and stored, and goods to be moved around the port or terminal.
Goods and bags are moved between planes, hubs, and cargo facilities with the help of cargo handling equipment. At airports, people use equipment like container loaders, aeroplane loaders, baggage handling systems, cargo dollies, conveyor belts, and luggage handling systems. This equipment makes sure that goods, luggage, and mail can be moved quickly and easily, which helps the airport run smoothly.
For material handling and logistics in production facilities, the manufacturing business needs cargo handling tools. Most manufacturing companies use forklift trucks, conveyors, pallet jacks, and automatic guided vehicles (AGVs) to move raw materials, parts, and finished goods. These types of tools improve the efficiency of the supply chain, make it easier to keep track of inventory, and make manufacturing activities more productive.
Warehousing and Distribution
Cargo handling equipment is a big part of how warehouses and distribution centres handle and move goods. Pallet jacks, forklift trucks, conveyor systems, automatic storage and retrieval systems (AS/RS) and order picking systems are all popular pieces of equipment in this field. These types of tools help warehouses and distribution centres keep track of their stock, fill orders, and get things to the right places.
Heavy materials, tools, and buildings on construction sites need to be moved around with cargo handling equipment. Construction jobs often use cranes, trucks, excavators, and skid steer loaders. These types of construction tools make it easier to lift, place, and move building materials, which helps construction projects run smoothly.
Mining and Quarrying
Cargo handling equipment is an important part of the mining and quarrying industries because it makes it easier to move raw materials and gemstones that have been removed. In mining and quarrying, things like dump trucks, wheel loaders, conveyor systems, and crushers are used to move and process materials. Minerals can be easily extracted, loaded, and moved with these kinds of tools.
Oil and Gas
Specialised cargo handling equipment is needed in the oil and gas business to move tools, supplies, and finished goods during upstream, midstream, and downstream activities. Cranes, forklifts, pipe movers, and material handling systems are some of the tools used in this business. These types of equipment help move big equipment and materials in oilfields, factories, and distribution centres in a safe and efficient way.
Cargo handling equipment is used in the agriculture business for many jobs, such as moving agricultural products, tools, and supplies. Forklifts, conveyors, pallet jacks, and farm trucks are all examples of tools used in agriculture. These types of tools make it easier to store, load, and move agricultural goods, which helps keep the agricultural supply chain running smoothly.
The "Others" group is for businesses that have special needs for handling cargo that aren't covered by the other categories. This could include shopping and e-commerce, healthcare and pharmaceuticals, energy and utilities, and other specialised businesses. Equipment for moving cargo in these fields can be different based on the needs of the business and how it works.
Geographically, the global Cargo Handling Equipment market has been analyzed in various regions such as North America, Europe, Asia-Pacific, Latin America, the Middle East, and India. The global region is dominating this market in the upcoming future.
Asia-Pacific has the biggest market share. The growth of the market in this region is driven by growing innovative progress, growth in revenue and freight, and growth in web-based business. Globalisation is getting worse because freight rates and sales of goods and materials are getting better between countries in the area. This part of globalisation makes the market even more useful.
Some of the things that are moving the global market in the Asia-Pacific region are the fast growth of imports and exports, the growth of online business, and the growing interest in strong and capable hardware for users. The International Air Transport Association says that 37.4% of all cargo travel in the world goes through the Asia-Pacific area. North America is becoming more industrialised, so it is likely that it will still have a big share.
Scope Of Report:
||Value (USD Billion)
||CAGR of 3.34% from 2023 to 2030
- Forklift Trucks
- Pallet Jacks
|By End-Use Industry
- Ports and Terminals
- Warehousing and Distribution
- Mining and Quarrying
- Oil and Gas
- Kion Group
- Toyota Industries and others.
| Regional Scope
- North America
- The Middle East & Africa
- Latin America
|Reasons to Purchase this Report and Customization Scope
- 6-month post-sale analyst assistance.
- 10% Free Customization and 15 Company Profiles in addition to the ones specified
- Kion Group
- Toyota Industries and others.
Kalmar said that they are the best at handling goods in a sustainable way for ports, terminals, transport centres, and heavy industry all over the world. They said that their wide range of electric products and global service network help their customers make their businesses safer, more productive, and better for the environment. They said that they were committed to coming up with new ideas that would change the future of the industry and make their customers' businesses run better.
Kalmar said that they are a part of Cargotec. In 2022, Cargotec had sales of about EUR 4.1 billion and employed about 11,500 people. They also said more about Kalmar, like that by the end of 2022, Kalmar would have more than 4,900 workers in more than 30 countries. They said that their manufacturing plants would be in China, Malaysia, Poland, and the United States. Kalmar also talked about their research and development centres around the world, including their Technology and Competence Centre in Tampere, Finland, and their Innovation Centre in Ljungby, Sweden.
Konecranes said that they are the world leader in material handling systems and that they work with a wide range of users in many different industries. They said that their goal is to set the standard for the industry by always looking for better, more productive, and more environmentally friendly ways to do business. They stressed how much they believed in making changes and making breakthroughs when it mattered the most. Konecranes said that they have about 16,600 employees in over 50 countries, which shows how much people trust them to lift, move, and handle important things. They said that their Group sales in 2022 were worth EUR 3.4 billion and that their shares are traded on Nasdaq Helsinki.
The Liebherr Group said that they were not only one of the biggest makers of construction tools in the world, but that they also made high-quality, user-focused goods and services in many other areas. They said that the technology company was run by a family and worked almost 50,000 people in over 140 companies around the world. They also said that Liebherr's product line included Earthmoving, Deep Foundation Machines, Mobile and Crawler Cranes, Tower Cranes, Concrete Technology, Material Handling Technology, Mining, Maritime Cranes, Aerospace and Transportation Systems, Gear Technology and Automation Systems, Refrigeration and Freezing, Components, as well as Hotels in Ireland, Austria and Germany. They also said that the Group's parent company, Liebherr-International AG, was based in Bulle, Switzerland, and was owned by members of the Liebherr family.
Hyster-Yale Group said that since 1989, they have led and supported Hyste and Yale lift trucks, which are two of the most famous brands in the business for moving materials. They said that their business plans, engineers, makes, sells, and services a wide range of material-handling equipment that is used in over 700 industries for a wide range of end-user applications. They said that their product line includes lift trucks with electric and internal combustion engines that can be used indoors and outdoors and are known for being very productive. They also pointed out that their services include storage equipment like pallet trucks and narrow aisle trucks, as well as efficient equipment for moving containers that can carry up to 52 tonnes.
Hyster-Yale also said that they are one of the biggest makers of forklift trucks in the world and that their offices are in Cleveland, Ohio. They said that they have district offices in different areas, such as the Americas (Greenville, NC), Europe, the Middle East, and Africa (Surrey, UK), and Asia-Pacific (Miliperra, Australia).
5. Kion Group
The KION Group said that they are one of the top providers of industrial trucks and solutions for supply chains in the world. They said that their range includes industrial trucks like forklift trucks and warehouse trucks, as well as combined automation technology, software solutions for improving supply lines, and related services. They also said that their solutions are meant to improve the flow of materials and information in factories, stores, and delivery centres in more than 100 countries around the world.
The Group also said that, based on the number of trucks they sold in 2020, they are the biggest maker of industrial trucks in Europe. They talked about how, in terms of income, they would be the top foreign producer in China in 2020 and third in the country overall. Also, they stressed that, based on income, they would be one of the top providers of warehouse automation in 2019.
The KION Group says that by the end of 2020, more than 1.6 million trucks and over 6,000 installed systems will be used by users in many different businesses and on many different countries. They said they have more than 36,000 workers and will make €8.3 billion in revenue in 2020.
Major Market Segments Covered:
On the Basis of Type:
- Forklift Trucks
- Pallet Jacks
On the Basis of Application:
On the Basis of End-Use Industry:
- Ports and Terminals
- Warehousing and Distribution
- Mining and Quarrying
- Oil and Gas
Cargo Handling Equipment Market Regional Insights:
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
In conclusion, the market for goods handling tools has a lot of room for growth and new ideas. The market is led by things like the growth of global trade, the use of more containers, the improvement of infrastructure, the rise of e-commerce, technological advances, a focus on operating efficiency, and the need to follow rules. These factors make it easier for companies to make luggage handling equipment that is both modern and good for the environment.
Manufacturers can focus on green and sustainable solutions by using alternative fuels, electric vehicles, and hybrids to meet environmental rules and address worries about sustainability. Automation and robots are making it easier to be more efficient and productive, and the combination of AI and data analytics makes it possible for goods handling operations to be better maintained and run more smoothly. Integration of technologies like IoT, connection, automation, AI, and data analytics makes it possible to run tools and systems more smoothly and communicate better with each other. Customization to meet the needs of a specific industry lets makers meet the needs of a wide range of industries, like aerospace, automobiles, and pharmaceuticals.
Growth opportunities exist in emerging markets and in the building of infrastructure. Manufacturers are able to offer cost-effective solutions and adapt to local rules and operating needs. Also, as businesses try to get the most out of their tools, service and repair contracts that cover everything can be a good way to make money.
In short, the market for cargo handling equipment is set to grow and offers makers many chances to come up with new, sustainable, and unique solutions. By taking advantage of these chances, producers can help the market grow, make it easier for businesses to run their operations, and help the shipping and transportation industry as a whole grow.