The impact of the COVID-19 pandemic with reduced cargo transport across the world and the high cost involved in the operation of container handling equipment are some of the market's critical concerns.

In recent decades, the global economic development was characterized by the expansive international trade development and the growing demand for cargo shipping. As a result of the globalization and industrialization, Asia-Pacific countries, such as China and India, are expected to exhibit the highest growth rates, due to large-scale manufacturing facilities involved in large-scale imports and exports.

The shifting trends toward automation of port terminals, the rising e-commerce industry, and growing requirements for electric and hybrid equipment, with emphasis on precaution for labors on the production floor and stringent emission norms, may provide innovative business opportunities in the container handling equipment market.

Key Market Trends

Growing Emphasis on the Electrification of Container Handling Equipment

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Globally, several ports and terminal operators are looking for ways to reduce the impact of their operations on the environment and to simultaneously lower their costs. Over the years, the increasing demands from authorities, and the growing uncertainties over fossil fuels sources and their costs, have resulted in the search for alternative fuels, not just for container cranes, but also for mobile equipment used for stacking and container transportation at terminals.

Driven by the increasing push toward electric container handling equipment, several players are launching new products into the market, to attract customers.

- In November 2020, Sarens announced the launch of its new electric ring crane for heavy lifts. The crane is fully powered by electricity and offers maximum load moment of 99,000t and a 130m maximum main boom with silent, environmentally-friendly operations. The crane can also produce its own energy, recovering and reusing the electricity it generates each time it lowers a load, thereby, reducing energy consumption by up to 40%.

- In April 2018, Liebherr announced the launch of its electrical port crane, the LPS 420 E. The crane is equipped with two winches, each with a powerful 190 kW electric motor, and provides a maximum load capacity of up to 124 tons and can be perfectly used for containers, heavy break bulk and general cargo.

Such developments are expected to propel the growth of the market in the years to come.

Asia Pacific Remains as the Market leader

The Asia-Pacific region consists of major developing economies of the world such as China and India, where a large volume of containers is exported and imported from the ports of these countries owing to the high requirement of raw materials and final products.

China is one of the major countries in the Asia-Pacific region, with the highest industrial activities being supported by its growing economy. China has 34 container ports and 2,000 minor ports. Shanghai has the world’s largest port with a capacity of 43.3 million TEU.

The country’s growth rate is high but is gradually moving toward moderate (as the population ages and economy rebalances from investment to consumption, from manufacturing to services, and from external to internal demand). However, due to low labour and material cost in China, many companies manufacture their products in China and later export them to required destinations. This has helped China position itself as the world’s leading exporter.

India is one of the major countries in the Asia-Pacific region, with import and export activities being supported by its growing economy. Mumbai Port is the country’s largest and busiest port.

In the first five months of fiscal year 2020-21, which began in April, the country’s 12 major public ports together handled 3.2 million TEU, excluding transhipment, a 25% year-over-year drop. Of this, outbound freight accounted for approximately 50% (1.6 million TEU), up from 47% (2.03 million TEU) in the same 2019 period.

The shipping ministry announced that they would push domestic companies to manufacture cranes used for cargo handling at ports to replace annual imports worth INR 1,000 crore of such equipment from outside the country. Under the ’Aatma Nirbhar Bharat Abhiyan’ or ‘Self-reliant India Mission’, INR 200 crores worth of crane tenders were recently disallowed.

The aforementioned trends are expected to drive growth in the region.

Competitive Landscape

The Container Handling Equipment market is moderately fragmented, with several players accounting for significant amounts of shares in the market. Some of the prominent companies in the Container Handling Equipment market are Cargotec Corp, Liebherr, SANY, Hyster-Yale Materials Handling, Inc., Konecranes and others.

Companies are investing heavily in research and development for the innovation of new and advanced products.

In July 2019, Shanghai Zhenhua Heavy Industry Co. Ltd. (ZPMC) delivered Manila International Container Terminal (MICT), new quay crane (QC) and eight new hybrid rubber-tired gantries (RTGs) establishing the terminal as having the largest fleet of modern container-handling equipment in the Philippines with 18 QCs and 58 RTGs.

In June 2019, Kalmar delivered New Container Handling Equipment for two of Britain's major ports Forth Ports, which operates eight ports round the UK. Forth Ports has continued investing in its network with a multimillion-pound order for eleven new Kalmar straddle carriers to upgrade and expand its container handling abilities.

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