According to a new market research report “Cargo Handling Equipment Market by Application (Air, Land, & Marine), Equipment (Conveyors, Forklift Truck, Aviation Dolly, Pallet Jack, AGV, Crane, RTG, Loader, Stacker, Straddle Carrier, Terminal Tractor), Propulsion, and Region – Global Forecast to 2025″, the market for cargo handling equipment is projected to grow at a CAGR of 3.61%, during the forecast period, to reach a market size of USD 28.02 billion by 2025 from an estimated USD 21.85 billion in 2018. The increasing cargo trade across the world, stringent emission regulations for cargo handling equipment, and strong demand in Asia Pacific and Europe, Middle East, and Africa would fuel the demand for cargo handling equipment.
The diesel propulsion segment is estimated to hold the largest share of the Cargo Handling Equipment Marketduring the forecast period.
The diesel propulsion segment is projected to hold the largest market share from 2018 to 2025. Most of the cargo handling equipment, such as straddle carriers, reach stackers, forklift trucks, RTG cranes, and terminal tractors, run on diesel engines. According to MarketsandMarkets analysis, the diesel engine segment is estimated to hold the largest share of the Cargo Handling Equipment Market in 2018. High power and low cost make diesel propelled equipment the first choice for equipment manufacturers.
