As a result of globalization and industrialization, the foreign trade of bulk commodities materials has significantly increased which is transported via containers through airways, marine and roadways. To load and un-load the containers at air cargo terminals, marine ports and other logistic stations, the container handling equipment considered as the feasible option. Moreover, container handling equipment such as truck, crane, hoist and others completed the process of transferring the goods from one place to another with less complexities.
The aspect of cargo handling of the containers on ships and airplanes becomes critical which require containers handling equipment’s. With evolving technology, containers handling equipment also automated and recognized as megatrend in the container handling industry. Automated container handling and lifting technology developed hastily, focusing on the cranes handling the intermediate storage of containers in the yard. Furthermore, emerging manufacturing amenities, escalation in initiatives for automated security and safety and evolution in expansion of warehouses, are propelling the growth of containers handling equipment containers.
The growing emphasis on precaution for labors on production floor, increasing need of automation in different industry, rising e-commerce industry will continue to encourage the containers handling equipment. The increase in trade activities between nations across geographical regions is projected to augment transportation of commodity materials which in turn is expected to fuel the demand of container handling equipment. Another significant influencing dynamic is investments in the marine and logistics infrastructure. As mentioned above, there is an increasing container handling trend, which is expected to accelerate over the forecast period. With growing water and air business transportation between economies, container handling equipment market is also propelling.
Additional capital cost associated with containers handling equipment expected to hinder the growth of material handling equipment market. Furthermore, when an integrated container handling equipment installed in any industry, failure in any portion of equipment lead to downtime of production system. Furthermore, high maintenance of equipment is also become a factor to hampering market growth.
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As global industrialization and related logistics is set to augment their presence over the coming years, and there is major opportunity that the container handling equipment industry to develop ahead. The Asia Pacific region is expected to dominate the global container handling equipment market in countries such as India and China owing to manufacturing facilities involving a fair share of material imports as well as exports. Europe and North America the high adoption of automotive techniques in end use industries in U.S., Germany, France and others.
North America, followed by Asia pacific is expected to show significant growth due to the elevated demand of safety handling equipment. Consequently, Latin America market is expected to make large investment in containers handling equipment market over the forecast period. Demand from Middle East and Africa region for containers handling equipment raises owing to rapid industrialization in E-commerce, food and packaging, pharmaceutical and chemical industry.