Businesses Stitch with Autonomous Logistics and Transportation Systems during Coronavirus Outbreak

Transporting products from one place to another with minimal human contact has become imperative for businesses during the COVID-19 outbreak. Companies such as the San Francisco-based startup Above Robotics is pushing sales for autonomous logistics and transportation systems to limit the spread of the coronavirus. Such trends are generating incremental opportunities for companies in the port and material handling equipment vehicle market.

Merchants, warehouses, and transport providers are adapting to autonomous material handling equipment vehicles. Companies in the port and material handling equipment vehicle market are creating awareness for cloud-based software that can get driverless vehicles to communicate directly and handle goods with fewer humans. Businesses in Japan, South Korea, and other parts of Asia are becoming aware about these evolving trends.

port and material handling equipment vehicle market segmentation

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AMRs Overcome Shortcomings of AGVs with Increased Intuitiveness and Flexibility in Operations

Automated guided vehicles (AGVs) are being integrated in retail, military, and even healthcare applications. However, potentially high initial investment, maintenance costs, and decreased flexibility in operations are likely to inhibit growth of the port and material handling equipment vehicle market. Hence, equipment vehicle manufacturers are increasing their production of alternative solutions such as autonomous mobile robots (AMRs), conveyor systems, and automated storage & retrieval systems (AS/AR).

The port and material handling equipment vehicle market is projected to advance at a CAGR of ~5% during the forecast period. Innovations in intuitive autonomous mobile robots involve to transportation of inventory and sort products.

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Dual Mode Autonomous Lift Trucks Operate in Mixed Environments

Robotics, automation, and sealed lead acid battery technology are steering innovation in lift trucks. Manufacturers in the port and material handling equipment vehicle market are increasing their R&D muscle in equipment design and value added features in order to help clients achieve high operational efficiency. Thus, autonomous lift trucks have become the key focus for technological advancements and innovations.

Equipment vehicle manufacturers are increasing the availability of dual mode autonomous lift trucks that function with or without the operator. This helps to establish maximum flexibility in mixed environments. Companies in the port and material handling equipment vehicle market are gaining a strong research base in 2D LIDAR guidance to enable long runs and returns in dual mode autonomous lift trucks.

port and material handling equipment vehicle market infographic

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Harbor Tug Boats Converted into Autonomous Vessels Integrated with Hazard Detection

The autonomous tug technology testing is undergoing a significant change from remotely controlling a vessel to adoption of computerized control on board as a support tool for the master. In Singapore, PSA Marine— a leader in the maritime sector, has collaborated with PACC Offshore Services Holdings (POSH) to complete their testing program to conduct sea trials of autonomous vessel technology. This is evident since Asia Pacific is anticipated to hold the lion’s share in terms of revenue in the port and material handling equipment vehicle market.

The port and material handling equipment vehicle market is expected to reach a revenue of US$ 9.7 Bn by the end of 2030. Operators at various ports and container terminals are converting its harbor tug into an autonomous vessel integrated with collision avoidance and hazard detection.

Autonomous Crane Systems Improve Profitability in Steel Industry with Digitization of Operations

Crane yard operations are becoming smart and safe. Companies in the port and material handling equipment vehicle market such as Schneider Electric— a global specialist in energy management and automation, is innovating in integrated autonomous crane systems (IACS). Autonomous crane systems have become the need of the hour since the steel industry is at crossroads with the need for investments in digitization whilst increasing profitability of operations.

Companies in the port and material handling equipment vehicle market are increasing the availability for autonomous crane systems in the steel industry to improve operations from furnace to yard and from warehouse to shipping with the help of digitization in crane operations.

Analysts’ Viewpoint

Manufacturers in the port and material handling equipment vehicle market are witnessing an acceleration of interest in online and autonomous trucking platforms during the coronavirus outbreak. Robust sensor technology and onboard artificial intelligence (AI) algorithms in autonomous tug boats provide operators information about changing routes to prevent risks of collision during autonomous waypoint navigation. However, stakeholders in the steel industry are facing financial constraint in CAPEX projects and are under pressure to increase profitability. Hence, equipment vehicle manufacturers should introduce autonomous crane systems to integrate digitization and modernization in operations. AMRs are overcoming drawbacks of AGVs pertaining to the latter’s issue in non-repetitive tasks.

Port and Material Handling Equipment Vehicle Market: Overview

  • The global port and material handling equipment vehicle market is anticipated to expand at a CAGR of ~5% during the forecast period, owing to the surge in trade activities and rise in globalization of goods production
  • Most countries witnessed increase in exports as a share of gross domestic product (GDP) in the last decade. Furthermore, there has been an increase in links to global supply chains and sourcing of raw materials. Finished products have become increasingly globalized, and producers in various areas, often-distant areas of the world, are increasingly being forced to compete with one another for the same markets. This trend is leading to more trade of goods across countries, thus, boosting port operations. This, in turn, is propelling the demand for port and material handling equipment vehicles.

Drivers of Port and Material Handling Equipment Vehicle Market

  • Rise in seaborne trade practices across the globe is likely to increase the demand for material handling equipment, which, in turn, is likely to boost the port and material handling equipment vehicle market across the globe
  • Growing import and export of goods and commodities through seaports due to different free-trade agreements, such has TPSEP, NAFTA, AFTA, and several others, have helped countries significantly strengthen their economies. This, in turn, is anticipated to boost the port and material handling equipment vehicle market across the globe.
  • Incorporation of autonomous and semi-autonomous systems for port equipment functions is likely to significantly propel for port and material handling equipment vehicle market across the globe

Challenges for Port and Material Handling Equipment Vehicle Market

  • High initial investments and maintenance cost of port and material handling equipment vehicles are likely to pose a challenge for the port and material handling vehicle market across the globe

Port and Material Handling Equipment Vehicle Market Segmentation

  • The global port and material handling equipment vehicle market has been segmented based on equipment type, application, propulsion, demand, and region
  • Based on equipment type, upgrade of ports in Asia Pacific, subsequent installation of new cranes, and upgrade of existing cranes are driving the demand for material handling port cranes. Electrified rubber-tired gantry and automated stacking crane types are also likely to witness higher demand over the next few years.
  • Based on application, container handling was the dominant segment in 2019, owing to consistent rise in global trade volumes in 2019. The total container throughput of 50 major cargo ports in the world increased by 3.5% year-over-year.
  • Based on propulsion, diesel is a major segment of the port and material handling equipment market; however, the introduction of the electric and fuel cell-based equipment is estimated to gain market share held by the diesel segment over the next few years, especially in developed regions such as Europe and North America
  • Based on demand, new demand is a major segment, in terms of revenue, of the port and material handling equipment market. Improvement in vehicle technologies is estimated to contract the MRO and services segment, in terms of revenue, in the near future.

Port and Material Handling Equipment Vehicle Market: Regional Analysis

  • Based on region, the global port and material handling equipment vehicle market has been segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • Asia Pacific is projected to be a highly lucrative region of the global port and material handling equipment vehicle market during the forecast period. India, one of the rapidly expanding markets for port material handling equipment in the region, has introduced ‘Sagarmala’ project to boost sea trade. This is estimated to boost cargo traffic at Indian ports to approximately 2500 MMTPA, while the current cargo handling capacity of Indian ports is only 1500 MMTPA. A roadmap has been prepared to increase port capacity in India to 3300+ MMTPA by 2025 in order to cater to the growing traffic. This includes port operational efficiency improvement, capacity expansion of existing ports, and new port development. While Southeast Asia is projected to witness investments of more than US$ 47 Bn in port development, expansion projects, and planning strategies to address the rising demand and to achieve higher competitiveness through a stronger flow of investments into the transport and logistics segments.
  • China has also been witnessing a surge in trade activity after eased trade policy between the U.S. and China. According to the statistics released by China Ports and Harbours Association, export container volume increased 11.5%, while inland container volume increased 18.3%, Therefore, Asia Pacific is estimated to be a prominent market for port and material handling equipment vehicles.

Port and Material Handling Equipment Vehicle Market: Competition Landscape

  • Key players operating in the global port and material handling equipment vehicle market include
    • Konecranes
    • Liebherr
    • Shanghai Zhenhua Heavy Industries (ZPMC)
    • Kalmar
    • Hyster
  • Competition in the port material handling market has intensified among companies who are introducing competitive models integrated with new technologies to capture market share

Port and Material Handling Equipment Vehicle Market – Scope of the Report

Transparency Market Research’s recent report on the port and material handling equipment vehicle market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the port and material handling equipment vehicle market analyzes the scenario for the period of 2019 to 2030, wherein, 2019 is the base year and 2018 and before is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study.

This TMR study on the port and material handling equipment vehicle market also provides data on the developments made by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of the strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape. Presented in a clear sanctioned manner, this report on the port and material handling equipment vehicle market gives readers an individual understanding of the market.

Key Questions Answered in This Report on Port and Material Handling Equipment Vehicle Market

  • How much value will the port and material handling equipment vehicle market generate by the end of the forecast period?
  • Which segment of the market is likely to have the maximum market share by 2030?
  • What are the impact factors and there effects on the market for port and material handling equipment vehicle market?
  • Which regions currently contribute the maximum share to the overall port and material handling equipment vehicle market?
  • What are the indicators expected to drive the port and material handling equipment vehicle market?
  • What region is likely to be a lucrative market during the forecast period?
  • What are the essential strategies by key stakeholders in the port and material handling equipment vehicle market to expand their geographic presence?
  • What are the major advancements witnessed in the port and material handling equipment vehicle market?
  • How regulatory norms affected the market for port and material handling equipment vehicle market?

This report answers these questions and more about the port and material handling equipment vehicle market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Port and Material Handling Equipment Vehicle Market – Research Methodology

This TMR report on the port and material handling equipment vehicle market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. Market volume is determined by country wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. The competitive scenario of the port and material handling equipment vehicle market is supported by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data, current trends and announcement by the key players, researchers of the port and material handling equipment vehicle market arrive at predictions and estimations, and calculate the forecast for the market.

This report uses an analytical triangulation method to estimate the numbers and figures of the port and material handling equipment vehicle market, with both a bottom-up and top-down approach.

This detailed assessment of the port and material handling equipment vehicle market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the port and material handling equipment vehicle market is estimated to expand are based on carefully vetted primary and secondary sources.

Port and Material Handling Equipment Vehicle Market – Segmentation

This report on the port and material handling equipment vehicle market provides information on the basis of equipment type, application, propulsion, demand, and region.

Equipment Type

  • Tug Boats
  • Cranes
  • Ship Loaders
  • Reach Stackers
  • Mooring Systems
  • Automated Guided Vehicles
  • Forklift Trucks
  • Container Lift Trucks
  • Terminal Tractors
  • Straddle Carriers
  • Others

Application

  • Container Handling
  • Ship Handling
  • Services
  • Storage Handling
  • Automated Storage Handling
  • Bulk Material Handling
  • Others
Propulsion
  • Diesel
  • Gasoline
  • Electric/Battery
  • Others
Demand
  • New Demand
  • MRO & Services
Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

This study also discusses the underlying trends and impact of various factors that are driving the port and material handling equipment vehicle market, along with their influence on the evolution of the market.

This study also offers Porter’s Five Point Analysis, value chain analysis, regulatory scenario, and a SWOT analysis of the port and material handling equipment vehicle market, in order to elaborate the crucial growth tactics and opportunities for market players contributing to the market.

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Port And Material Handling Equipment Vehicle Market

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