Analysis of the Global Market for Port and Material Handling Equipment Vehicles: Dimensions, Drivers, Trends, Opportunities, and Strategies
The latest market sizing information for the year 2023 and projections up to 2032 have been incorporated into The Business Research Company’s global market reports.
According to The Business Research Company’s Port and Material Handling Equipment Vehicle Global Market Report 2023, the global market size for port and material handling equipment vehicles is set to expand from $20.30 billion in 2022 to $21.62 billion in 2023, representing a compound annual growth rate (CAGR) of 6.5%. Furthermore, this market is projected to reach $26.92 billion in 2027, growing at a CAGR of 5.6%.
What factors will fuel the growth of the port and material handling equipment vehicle market?
The growth of the e-commerce industry is poised to stimulate the expansion of the port and material handling equipment vehicle market in the coming years.
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Who are the primary players in the market?
Prominent players in the port and material handling equipment vehicle market include ABB Ltd., American Crane & Equipment Corporation, Anhui Heli Co Ltd., Cavotec SA, CVS Ferrari SPA, Hyster-Yale Materials Handling Inc.
Which trend is gaining traction in the port and material handling equipment vehicle market?
Technological advancements are emerging as a significant trend gaining popularity in the port and material handling equipment vehicle market. Leading companies operating in this market are concentrating on the development of vehicles equipped with advanced technologies to enhance their market standing.
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How is the port and material handling equipment vehicle market segmented?
Global Port and Material Handling Equipment Vehicle Market Segments Include:
- By Equipment Type: Tug Boats, Cranes, Shiploaders, Reach Stackers, Mooring Systems, Automated Guided Vehicles (AGVs), Forklift Trucks, Container Lift Trucks, Terminal Tractors, Other Equipment By Propulsion: Diesel, Gasoline, Electric/Battery, Other Propulsion
- By Demand: New Demand, MRO(Maintenance, Repair, And Overhaul Or Services)
- By Application: Container Handling, Ship Handling, Services, Storage Handling, Automated Storage Handling, Bulk Material Handling, Other Application
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global port and material handling equipment vehicle market in 2022.
The Port and Material Handling Equipment Vehicle Global Market Report 2023 provides an encompassing overview of the market for the time series, covering historic years (2010 – 2021) and projecting ten years into the future (2023 – 2032). The market forecast comprehensively analyzes market size, market share, and the positions of the leading competitors.
A port is any maritime facility on a coast or shore containing one or more harbors where ships can dock and transfer people or cargo to or from land. Material handling equipment is a type of machinery that is used to move, store, and control materials within a facility or warehouse. These are vehicles that are used to move materials within a port, such as container cranes, yard tractors, and terminal tractors.
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