We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Surging Port Infrastructure Development Providing Tailwinds to Port and Material Handling Equipment
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

Surging Port Infrastructure Development Providing Tailwinds to Port and Material Handling Equipment

May 14, 2021
No Comments

The global port and material handling equipment vehicle market is expected to reach a valuation of nearly US$ 10 billion by 2031, registering a CAGR of approximately 5% throughout the forecast period, concluded an ESOMAR-certified and award winning consulting global market research firm in its recently published report. Growth is largely influenced by overall increase in global trade and transportation activities.

According to a latest market intelligence report, rapid port infrastructure development across key countries such as China, India, Singapore, and South Korea is enhancing uptake, especially across the container management segment. As per UNCTAD’s 2020 e-handbook of statistics, developing economies in Asia and Oceania handled 62% of world port container traffic. Also, world container port throughout rose by 2% from 2018 to 2019.

Furthermore, planned future infrastructure expansion projects will provide significant momentum to the market. For instance, the Indian government has earmarked US$ 82 billion for the ongoing Sagarmala Project at the March 2021 Maritime India Summit, which will see enhanced port infrastructure development, thus generating demand. Likewise, several planned port infrastructure projects under China’s Belt and Road Initiative (BRI) are also expected to stimulate demand for port and material handling equipment vehicles over the coming years.

Key Takeaways from Market Study

• Automated Stacking Cranes (ASCs) to remain most preferred equipment due to their significant capital cost reduction.

• By application, container handling emerged as the dominant segment, expected to retain its position through 2031.

• Demand for electric- / battery-propelled vehicles to aggrandize over coming years.

• New demand is likely to attract significant investments towards port and material handling equipment vehicles.

• China and India to present heavy investment opportunities amid extensive port and maritime infrastructure spending.

• Robust presence of regional manufacturers heightening growth prospects in the U.S.

“Prominent end users are seeking autonomous and smart equipment handling solutions with a view to streamline management operations. This is prompting key port and material handling equipment vehicle manufacturers to introduce digitized management solutions,” remarks a Senior Research Analyst.

Competitive Landscape

Prominent manufacturers are majorly emphasizing on introducing new products equipped with the latest technology and innovations. Moreover, capacity expansion, strategic mergers & acquisitions, and partnerships are also relied upon by key players.

• In 2019, CVS Ferrari S.p.A partnered with ITS Conglobal, North America’s largest integrated intermodal service provider, to supply its range of stackers as the backbone of the latter’s equipment fleet to execute their terminal operating contract at the Canadian National Railroad facility serving the Detroit metropolitan area.

• In May 2019, Konecranes launched the Agilon® materials management robot which brings about greater speed, flexibility and efficiency to warehouses due to its ability to move diagonally as well as horizontally and vertically. This means accelerated transfers of items at customer sites, a more comprehensive reach in terms of warehouse size and greater efficiency and insight for customers.

https://www.factmr.com/report/port-and-material-handling-equipment-vehicle-market
Submit your logistics, material handling, or supply chain related company news in Supply Chain Quarterly's's Industry Press Room section or New Products section
Logistics Logistics Services Warehousing
KEYWORDS Fact.MR
    • Related Articles

      Port of Oakland approves $2 million contract to design electric infrastructure

      UNEX Manufacturing Showcases Material Handling Equipment in Booth 1015 at NBWA

      Why you should care about material handling equipment

    You must login or register in order to post a comment.

    Report Abusive Comment

    Most Popular Articles

    • Report: Sagging freight stats show that trucking sector is returning to its historic mean

    • Survey: parcel delivery drivers are frustrated by using their own smartphones for work

    • Heavy transport across two continents

    • Survey: most Americans unaware that truckers face shortage of parking spaces

    • Supply chain executives not yet seeing expected results from technology investments

    Featured Video

    20221107korber large vs

    Enhancing Customer Experience with Your Supply Chain Strategy

    Viewer Contributed
    With the rise of e-commerce, many businesses have had to transform their warehouses to handle online orders in addition to regularly scheduled inventory shipments. This means warehouses need more information than ever before to ensure they can meet customers' needs. As a result, companies need to select warehouse...

    FEATURED WHITE PAPERS

    • Three layers of forklift safety: Promoting operating best practices

    • The Complete Guide to Automated Packaging

    • Five tips for parcel success in 2023

    • Guide to Pallet Rack Safety

    View More

    Subscribe to Supply Chain Quarterly

    Get Your Subscription
    • SUBSCRIBE
    • E-NEWSLETTERS
    • ADVERTISING
    • CUSTOMER CARE
    • CONTACT
    • ABOUT
    • STAFF
    • PRIVACY POLICY

    Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing