Port & Material Handling Equipment Vehicle Market Growth Analysis With Investment Opportunities For 2024-2033

The Business Research Company's Port & Material Handling Equipment Vehicle Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, August 6, 2024 /EINPresswire.com/ -- The port & material handling equipment vehicle market has experienced robust growth in recent years, expanding from $21.62 billion in 2023 to $22.99 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to global trade expansion, increasing containerization, growth in e-commerce and logistics, infrastructure development in ports, focus on safety and ergonomics, and environmental regulations.

Strong Future Growth Anticipated

The port & material handling equipment vehicle market is projected to continue its strong growth, reaching $28.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to adoption of autonomous vehicles, growth in renewable energy sector, smart ports and digital transformation, customization for specific cargo types, development of green ports.

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Growth Driver Of The Port & Material Handling Equipment Vehicle Market

The growth in the e-commerce industry is expected to boost the growth of the port and material handling equipment vehicle market going forward. Electronic commerce (e-commerce) is the buying and selling of goods and services over an electronic network, primarily the Internet, or the transmission of funds and data. Port and material handling equipment vehicles are used to move materials within a port or other facility, such as a warehouse or distribution center. There has been an increased use of port and material handling equipment vehicles in e-commerce in recent years due to the rapid growth of online shopping.

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Major Players And Market Trends

Key players in the port & material handling equipment vehicle market include Asea Brown Boveri Ltd., American Crane & Equipment Corporation, Anhui Heli Co Ltd., Cavotec SA, CVS Ferrari SPA, Hyster-Yale Materials Handling Inc., Cargotec Corporation, Konecranes Oyj, Liebherr Group, Shanghai Zhenhua Heavy Industries Co Ltd.

Technological advancements are a key trend in gaining popularity in the port and material handling equipment vehicle market. Major companies operating in the port and material handling equipment vehicle market are focused on developing vehicles with advanced technologies to strengthen their position in the market.

Segments:

1) 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
2) By Demand: New Demand, MRO(Maintenance, Repair, And Overhaul Or Services)
3) By Application: Container Handling, Ship Handling, Services, Storage Handling, Automated Storage Handling, Bulk Material Handling, Other Applications

Geographical Insights: Asia-Pacific Leading The Market

Asia-Pacific was the highly lucrative region in the port and material handling equipment vehicle market in 2023. The regions covered in the port & material handling equipment vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Port & Material Handling Equipment Vehicle Market Definition

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.

Port & Material Handling Equipment Vehicle Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Port & Material Handling Equipment Vehicle Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on port & material handling equipment vehicle market size, port & material handling equipment vehicle market drivers and trends, port & material handling equipment vehicle market major players, port & material handling equipment vehicle competitors' revenues, port & material handling equipment vehicle market positioning, and port & material handling equipment vehicle market growth across geographies. The port & material handling equipment vehicle market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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