The container handling equipment market is projected to grow at a CAGR of 4.24%, during the forecast period, to reach a market size of USD 8.75 Billion by 2025 from an estimated USD 6.28 Billion in 2017. The need for container handling equipment would be fueled by growing containerized trade globally, strict emission requirements for container handling equipment, and high demand in Asia Pacific and the Middle East.
The ship-to-shore cranes segment is estimated to hold the largest share of the container handling equipment market during the forecast period.
From 2017 to 2025, it is anticipated that the ship-to-shore cranes segment will account for the biggest market share. Containers are loaded and unloaded from ships using these cranes. A UNCTAD research from 2016 states that over the previous seven years, the average container ship size climbed by 132%. These cranes must be available in order for larger ships to load and unload containers. The demand for these crane types, according to the Port Equipment Manufacturers’ Association (PEMA), is mostly driven by medium- and large-sized ports in Asia Pacific nations like China, Japan, Singapore, Australia, India, and Vietnam due to rising container traffic. The combination of all these factors is predicted to increase demand for ship-to-shore cranes.
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The electric propulsion segment is expected to be the fastest-growing market for container handling equipment from 2017 to 2025.
Due to stricter pollution laws, the market for electric propulsion is anticipated to expand at the quickest rate throughout the forecast period. In numerous places, the emission standards for industrial equipment have been updated. According to EU standards, NOx and PM levels have decreased from Stage I to Stage V by roughly 95.7% and 97.2%, respectively. Additionally, according to US EPA standards, Tier 1 to Tier 4 NOx and PM emissions have decreased by 95.6% and 96.2%, respectively. Similar criteria in accordance with these standards are also followed by nations including China, Japan, South Korea, and India. Along with other businesses, Konecranes, Kalmar, and Hyster have increased the range of electric equipment they offer for RMG, RTG, and straddle carriers as well as started related R&D projects. The electric propulsion type market is anticipated to develop at the greatest CAGR throughout the projected period as a result of these strict emission standards and the requirement for greater operational efficiency.
Asia Pacific: The largest container handling equipment market
China, which handled 28.5% of all container cargo moved in 2016, is the world’s top in container handling capacity, according to the World Bank. Millions of TEU are handled annually at the ports in Shanghai, Shenzhen, Hong Kong, Ningbo-Zhoushan, Singapore, and Keihin in Japan, which is fueling the expansion of the Asia Pacific market. The container handling capacity in Asia was estimated by MarketsandMarkets to be between 40 and 42 percent of value in 2017. The demand for container handling equipment and port automation is anticipated to rise in the region over the next few years as a result of this trend and the region’s growing container traffic.
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Key Market Players
Some of the prominent players in the container handling equipment market are Kalmar (Finland), Konecranes (Finland), Liebherr (Switzerland), Hyster (US), Sany (China), ZPMC (China), Lonking (China), Anhui Heli (China), CVS Ferrari (Italy), and Hoist Liftruck (US).
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