Cargo handling equipment market is anticipated to grow at a CAGR of 4.5% during the forecast period (2024-2031). Cargo handling equipment market comprises of a variety of handling equipment including industrial trucks, cranes, stackers, pallets, among others, which streamline logistical and transport processes such as unloading cargo, transporting cargo, warehousing, picking, and sorting. The market growth is driven by the rising demand of cargo handling equipment from marine segment, increase in seaborne trade, e-commerce boom, and advancement in cargo equipment through integration of IoT devices, automation & robotics, and AI (artificial intelligence)) & ML (machine learning) among others.
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The global cargo equipment handling equipment market is highly dependent on international trade for its growth, which majorly comes from seaborne trade. According to the International Maritime Organization (IMO), up to 90.0% of the world’s goods are transported through maritime trade. Further, the import and exports of goods through the marine has showcased exponential growth in recent years, especially post pandemic owing to e-commerce boom, government investment of port infrastructure, and increased consumer spending, which is projected to grow in future and benefit the cargo equipment handling market. As per the Indian Ministry of Ports, Shipping, and Waterways, cargo handling in national waterways has grown by more than 1700.0% to 126.1 million Metric Tons (MMT) in 2022–23 from 6.83 MMT in 2013–14. wherein, as reported by the United Nations Conference on Trade and Development (UNCTAD), in 2020, due to the fallout of the COVID-19, international maritime trade contracted by nearly 4.0%, which saw a rebound in 2022 with the global economy starting to recover and continued consumer spending, along with an easing in pandemic-related restrictions, causing maritime trade to grow by 3.2% reaching to a total of 11 billion tons, close to pre-pandemic levels.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Cargo Handling Equipment Market Report Segment
By Equipment Type
- Industrial Trucks
- Tow Tractors
- Conveying Equipment
- Stacker
- Port Cranes
- Others (Stacker, Pallet Jacks, Loaders)
By Propulsion Type
- Diesel
- Electric
By Application
- Air
- Road & Rail
- Marine
Global Cargo Handling Equipment Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- The Middle East and Africa
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global cargo handling equipment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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