Container Handling Equipment Market Size, Share, Growth, Trends, and Global Industry Analysis: By Equipment Type (Forklift Truck, Stacking Crane, Mobile Harbor Crane, and Rubber-tired Gantry Crane), By Propulsion Type (Diesel, Electric, and Hybrid), and Region

Container Handling Equipment Market size was valued at US$ 7,629.4 million in 2023 and is poised to grow at an 3.9% CAGR from 2024 to 2030. Container handling means loading, unloading, handling, stacking, unstacking, storing, or maintaining (including repairing) containers while container handling equipment is used in a terminal to transport a container from one location to another. For example, quay cranes, trailers, and RSTs are all container-handling equipment used in an airport while the trucks, cranes, hoists, and others complete the process of transferring the goods. The growing world economy and rising industrialization are driving the demand for container-handling equipment across different fields. Their use in industries like construction, manufacturing, and port handling, owing to the wide range of applications, are the reasons for their increased sales. Another factor boosting the handling equipment sales is the rapid expansion of the e-commerce, retail, and logistics industries.

In addition, some e-commerce companies are developing new strategies, including investing heavily in autonomous and electric forklifts to speed up the loading and picking up processes of products as they reduce the delivery time.However, more stringent emission regulations may require manufacturers of container handling equipment to improve the energy efficiency of their products without sacrificing their power capabilities. Moreover, since container handling equipment has a specialized purpose, each operation requires separate equipment.

However, ongoing R&D initiatives by the participants have led to the development of highly sophisticated and multi-tasking products, including sophisticated mechatronic systems. Such systems must be assembled using specific manufacturing techniques. This equipment's design, production, and distribution require substantial financial investments, which raises the final cost to customers. Moreover, there is a trend to use rubber-tired gantry cranes and electric-powered, rail-mounted stacking cranes for stacking operations (RTG). Eco-efficiency has grown to be crucial in the cargo and material handling industries. The electrification of ports and terminals is the most recent trend sweeping the sector as ports and airports worldwide work to increase energy efficiency and reduce emissions. It has been demonstrated that electrifying port equipment dramatically reduces pollution. The usage of electric and hybrid-electric containers is anticipated to rise in the following years as nations focus on lowering their emissions.

Container Handling Equipment Market Key Developments

• In September 2023, Global Ports equipped the Far Eastern terminal of Vostochnaya Stevedoring Company (VSC). They signed a memorandum of intent with Shanghai Zhenhua Heavy Industry Company (ZPMC) to buy portside container handling equipment.
• In October 2022, Toyota Material Handling launched an updated version of Toyota's 3-Wheel Electric Forklift in North America. The new updated electric forklift equipped with new features and technology to the top-selling forklift in the segment.
• In January 2022, Kalmar, part of Cargotec, agreed with Westport AS to supply the world's first electric reach stacker with a combined charging system in Norway. The order also includes a five-year Kalmar Complete Care service agreement, which was booked in Cargotec's Q1 2022 order intake, with delivery scheduled for early Q4 of 2022.