16-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “Port Equipment Market By Application (Container Handling, Bulk Handling, Ship Handling, & Others), By Equipment Type (Tugboats, Cranes, Mooring System, Ship Loaders, Reach Stackers, Automated Guide Vehicles, Container Lift Trucks, Terminal Tractors, Straddle Carriers, & Others), By Type (Diesel, Electric, & Hybrid), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026”. According to the report, the global Port Equipment market was valued at approximately USD 30.2 Billion in 2020 and is expected to reach a value of around USD 35.3 Billion by 2026, at a CAGR of around 3.9% between 2021 and 2026.
Port equipment encompasses all the vehicles, tools, equipment, and parts that are utilized on docks. The equipment is used effectively for handling the cargo & passengers at the seaport. Few of the commonly used port equipment comprises 4x4 Terminal Tractor, Rail-mounted gantry cranes (RMGs), Rubber-tyred gantry cranes, Other yard cranes, Electrified rubber-tired gantry cranes, Automated stacking cranes, Reach Stackers for Laden Container and Empty Container, 4x2 Terminal Tractor, Forklift Trucks for Laden Container and Empty Container, and Ship to Shore Cranes. A few of the key applications of port equipment include scrap handling, heavy lift, bulk handling, container handling, stacking, and general cargo.
Browse the full “Port Equipment Market By Application (Container Handling, Bulk Handling, Ship Handling, & Others), By Equipment Type (Tugboats, Cranes, Mooring System, Ship Loaders, Reach Stackers, Automated Guide Vehicles, Container Lift Trucks, Terminal Tractors, Straddle Carriers, & Others), By Type (Diesel, Electric, & Hybrid), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” Report at https://www.fnfresearch.com/port-equipment-market-by-type-yard-crane-reach-271
Growing marine trade activities & up-gradation of port infrastructure in the Asia Pacific will drive the market trends
Developing economies like India, Russia, China, and Brazil are funding air & marine port construction activities and this is predicted to drive the growth of the business over the forecast timeline. Furthermore, cargo operators are allocating a large number of funds for developing new equipment for reducing the loading & unloading period and thereby enhance their operational efficacy.
Moreover, the rise in the burden from growing traffic at marine & airports is also set to steer the market demand during the period from 2019 to 2025. Apart from this, growing awareness pertaining to the electrification of cargo functions among the cargo device operators & cargo service providers are projected to drive the business growth over the forecast timeline. However, massive initial investments required for deploying cargo handling devices will impede the market growth over the forecast timeline. Nevertheless, the rise in the market growth avenues in emerging countries like India, Japan, and China will help in nullifying the negative impact of the hindrances on the market expansion during the forecast timeline.
Yard crane to dominate the type segment by 2025 in terms of earnings
The growth of the yard crane segment during the forecast timeline is owing to the massive usage of yard cranes for lifting heavy equipment or cargo at ports.
Container handling segment to lead the application landscape by 2025
The growth of the segment over the time span from 2019 to 2025 is credited to an increase in the volume of the container business globally. Moreover, countries constructing shared container terminal docks for aiding sea trade are likely to prompt the growth of the segment during the forecast timeline.
Asia Pacific to account for the major market share over the forecast timeline
The growth of the market in the Asia Pacific during the forecast timeline is due to the wider seacoast or coastal line, cost-effective export mode, and the introduction of new government initiatives for expanding the port infrastructure in countries like China.
Top Market Players
The key market participants in the global port equipment market are Liebherr, TTS, Kalmar, Konecranes, Sany, Shanghai Zhenhua Heavy Industries, Hyster, Lonking, CVS Ferrari, Anhui Heli, Famur Famak, American Crane & Equipment, ABB, and SANMAR, among others.
This report segments the Port Equipment market as follows:
Global Port Equipment Market: By Application Segment Analysis
- Container Handling
- Bulk Handling
- Ship Handling
- Others
Global Port Equipment Market: By Equipment Type Segment Analysis
- Tugboats
- Cranes
- Mooring System
- Ship Loaders
- Reach Stackers
- Automated Guide Vehicles
- Container Lift Trucks
- Terminal Tractors
- Straddle Carriers
- Others
Global Port Equipment Market: By Type Segment Analysis
Global Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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