Global Cargo Handling Equipment Market
Cargo Handling Equipment Market
According to Verified Market Research, Global Cargo Handling Equipment Market was valued at USD 21.63 Billion in 2018 and is projected to reach USD 27.52 Billion by 2026, growing at a CAGR of 3.08 % from 2019 to 2026.
Global Cargo Handling Equipment Market Outlook
Growing import-export activities among the countries and flourishing logistics industry are driving the growth of the cargo handling equipment market. Forklifts and tractors trailer is the most preferred one. Most of the equipment uses fossil fuel (diesel) as a power source which brings a great concern about fuel dependency as well as pollution. Diesel is a major cause of air pollution, emits carbon two times greater than petrol. To improve the efficiency of the container terminal and the environmental condition of consumption energy the advanced cargo handling equipment is positively launched. Since most of the port cargo handling equipment is in a container terminal is of high cost and the replacement of them in the middle of a lifetime is very difficult because of the long lifetime of the equipment. Electrified and hybrid equipment is trending in the market which is predicted to influence growth but at the same time, its high cost compared to internal combustion engine equipment and lack of charging infrastructure restrains its purchase.
Global Cargo Handling Equipment Market Competitive Landscape
The Global Cargo Handling Equipment Market study report will provide valuable insight with an emphasis on the global market including some of the major players such as Anhui Heli, Emerson Electric, Gantrex, Hangcha Group Co. Ltd, Hoist Lifttruck, Hyster, JBT Corporation, Kalmar, Kion Group, Konecranes, and Liebherr.
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