The Global Cargo Handling Equipment Market has been valued at US$ 27.75 billion in 2022 and it is expected to reach a high market capitalization of US$ 35.93 billion by 2028, and it is anticipated to grow with a healthy CAGR of 5.30% between 2023-2028.

Foreign trade in bulk commodities has significantly risen as a result of globalization and industrialization, with transportation taking place via containers by air, sea, and land. Container handling equipment is thought to be a viable choice for loading and unloading containers at air cargo terminals, seaports, and other logistics facilities. Additionally, the act of moving goods from one area to another has been made simpler by container handling equipment including trucks, cranes, forklifts, and others. It becomes essential to handle cargo in containers on ships and airplanes, and containers are needed to manage the equipment. Automation in container handling equipment is acknowledged as a significant trend in the container handling business as a result of technological advancement.

Market Drivers and Restraints:

The market for cargo handling equipment is growing as a result of increased international trade and a burgeoning logistics sector. Forklifts and tractors are the most widely used trailers. Diesel is used by most of the machinery, which raises questions regarding pollution and fuel dependence. Diesel is a common form of transportation yet it releases carbon monoxide. The drivers driving the market's demand include the growth of seaborne trade, industrial output, and air freight.

The desire for equipment with higher fuel efficiency and reduced emissions is one of the factors driving the growth of the cargo handling equipment market. The market is expanding due to the rising interest in the marine industry. The improvement of cutting-edge cargo handling hardware is propelling the growth of the global market due to the efficient conveyance of delicate assembling materials and other low-cost goods. Additionally, small businesses use freight delivery for exchange needs, while big businesses prefer tramp delivery because it requires a larger armada to run direct routes and lowers transportation costs, both of which are accelerating the market's growth.

The market growth is being constrained by the numerous associations that cannot employ the pricey freight handling supplies and the high cost of the cargo handling equipment.

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The report is segmented as follows:

The Europe High Purity Methane Gas Market is segmented by Application; the Market is segmented by Equipment:

By Application (Air, Land, & Marine)

By Equipment (Conveyors, Forklift Truck, Aviation Dolly, Pallet Jack, AGV, Crane, RTG, Loader, Stacker, Straddle Carrier, Terminal Tractor, Propulsion)

Market Regional Segmentation:

Geographically, there are four primary regions that make up the cargo handling equipment market: Asia-Pacific, North America, Europe, and the Rest of the World. Among these, Asia-Pacific now holds the greatest market share because of the region's rapid technological advancements, improvement in import and export costs, and expansion of online commerce. Globalization is escalating as a result of rising import and export costs among the many countries in this region. The utilization of the market is afterwards expanded by this expansion of globalization.

The Asia-Pacific region's demand for reliable and capable hardware for holders, rapid import and export growth, and developing online commerce are just a few of the drivers propelling this industry.

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Impact of COVID-19 pandemic on the market:

The COVID-19 pandemic has had a significant impact on a number of businesses. Due to the ongoing lockdowns, the majority of business sectors in the first two quarters of 2020, including transportation, food and beverage, electronics and electrical, and autos, suffered. Most governments implemented strict measures, including lockdowns, the closure of public spaces like restaurants, theatres, schools, and colleges, transportation prohibitions, and more, to stop the spread of the coronavirus.

The COVID-19 epidemic has an effect on the market as well. Due to supply chain interruptions, a lack of workers, and a shortage of raw materials, lockdowns cause the manufacturing sectors to suspend output. The market for cargo handling equipment is expanding quickly since the introduction of the online procedure. The market is predicted to expand significantly over the course of the forecast period.

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