How much is the cargo handling equipment market worth, and how is it expected to expand?
The cargo handling equipment market size has grown strongly in recent years. It will grow from $27.33 billion in 2024 to $29.14 billion in 2025 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to increased industrialization, eco-friendly handling equipment, safety and environmental regulations, development of air freight handling equipment, and growth in global shipping routes and ports.
The cargo handling equipment market size is expected to see strong growth in the next few years. It will grow to $37.32 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to shift towards electric cargo handling vehicles, demand for green handling equipment, shifts in consumer preferences, need for enhanced cargo screening and handling security, and focus on reducing operational costs. Major trends in the forecast period include integration of RFID technology, adoption of 3D printing, advancements in hydraulic systems, integration of ai, and blockchain integration.
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Which industry factors have accelerated the cargo handling equipment market’s expansion?
The rising import and export activities are expected to propel the growth of the cargo-handling equipment market going forward. Import and export activities refer to the buying (importing) and selling (exporting) of goods and services across international borders. Import and export activities are rising due to global trade, which facilitates the exchange of goods and services between different countries or regions. Cargo handling equipment enhances import and export activities by improving efficiency, ensuring safety, accelerating handling speeds, maximizing capacity utilization, and accommodating diverse cargo types, thereby facilitating smoother international trade operations. For instance, in November 2023, according to the International Trade Administration, a US-based government agency, in 2022, the value of goods and services exported from the US to the UK rose by 21.5% from 2021, reaching $157.1 billion. Therefore, increasing import and export activities are driving the growth of the cargo-handling equipment market.
What are the primary segments of the cargo handling equipment market?
The cargo handling equipment market covered in this report is segmented –
1) By Equipment Type: Aviation Dollies, Stacker, Pallet Jacks, Loaders, Conveyor System, Automated Guided Vehicle, Forklift Trucks, Cranes, Rubber Tired Gantry Cranes, Other Equipment Types
2) By Technology: Manual, Semi-Automated, Fully Automated
3) By Propulsion Type: Diesel, Electric, Other Propulsion Types
4) By Application: Air Cargo, Marine Cargo, Land Cargo
5) By End User: Automotive, Consumer And Retail, Energy Resources, Manufacturing, Transportation, Other End-Users
Subsegments:
1) By Aviation Dollies: Aircraft Towing Dollies, Pushback Dollies, Cargo Dollies
2) By Stacker: Manual Stackers, Electric Stackers, Semi-Electric Stackers
3) By Pallet Jacks: Manual Pallet Jacks, Electric Pallet Jacks, High-Lift Pallet Jacks
4) By Loaders: Front-End Loaders, Telescopic Loaders, Articulated Loaders
5) By Conveyor System: Roller Conveyors, Belt Conveyors, Chain Conveyors, Pneumatic Conveyors
6) By Automated Guided Vehicle (AGV): Laser-Guided AGVs, Vision-Guided AGVs, Magnetic Tape AGVs
7) By Forklift Trucks: Electric Forklifts, Internal Combustion Forklifts, Reach Trucks, Pallet Forklifts
8) By Cranes: Overhead Cranes, Gantry Cranes, Jib Cranes, Tower Cranes
9) By Rubber Tired Gantry Cranes (RTG): Standard RTG Cranes, Electric RTG Cranes, Hybrid RTG Cranes
10) By Other Equipment Types: Dock Levelers, Container Handling Equipment, Lifting Tables, Palletizers
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Which firms are leading the cargo handling equipment market?
Major companies operating in the cargo handling equipment market are Siemens AG, ABB Ltd., Komatsu Ltd., Toyota Industries Corporation, HD Hyundai Heavy Industries Co. Ltd., Liebherr-International Deutschland GmbH, KION Group AG, Sany Heavy Industry Co. Ltd., Doosan Industrial Vehicle BG, Jungheinrich AG, Mitsubishi Logisnext Co. Ltd., Wallenius Wilhelmsen Logistics ASA, Shanghai Zhenhua Heavy Industries Company Limited, Terex Corporation, Crown Equipment Corporation, Cargotec Oyj, Hyster-Yale Materials Handling Inc., Konecranes Oyj, Anhui Heli Co. Ltd., Hangcha Group Co, Manitowoc Company Inc., John Bean Technologies Corporation, Kalmar Corporation, The Taylor Group Inc, and CVS ferrari S.P.A
Which market trends are set to define the future of the cargo handling equipment market?
Major companies operating in the cargo handling equipment market are introducing advanced forklift models to improve efficiency, incorporate advanced automation features, and tackle sustainability issues with electric and hybrid technologies. A forklift refers to a small industrial vehicle with a power-operated pronged platform that can be raised and lowered for insertion under a load to lift or move it. For instance, in May 2023, Toyota Material Handling, a US-based machinery manufacturing company, launched three electric forklift models. Three new electric forklift models include the Side-Entry End Rider for efficient cross-warehouse operations, the versatile Center Rider Stacker that combines three functions in one, and the powerful Industrial Tow Tractor designed for towing heavy loads with ease and efficiency. All three models feature AC drive motors for smooth, quiet operation, adjustable controls for operator comfort, and optional features like cold storage conditioning and PIN code access for enhanced customization and security.
Which geographic trends are shaping the cargo handling equipment market, and which region has the highest market share?
Asia-Pacific was the largest region in the cargo handling equipment market in 2023. The regions covered in cargo handling equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Cargo Handling Equipment Market Report 2025 Offer?
The cargo handling equipment market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Cargo handling equipment refers to machinery and tools used for loading, unloading, and transporting goods in various logistics and industrial operations. Cargo handling equipment streamlines supply chain operations by enhancing productivity and ensuring the safe and efficient handling of goods across different stages of transportation and storage. This equipment is essential for optimizing logistics processes, reducing turnaround times, and minimizing the risk of damage to goods during handling and transit.
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