New Study from StrategyR Highlights a 13 Thousand Units Global Market for Straddle Carriers by 2026
SAN FRANCISCO, Nov. 16, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Straddle Carriers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 6; Released: November 2021
Executive Pool: 656
Companies: 46 - Players covered include ASCOM Spa; Cargotec Corp.; Cimolai Technology S.p.A; Combilift Ltd.; Combilift Material Handling Solutions; CVS ferrari Spa; Faymonville Group; Isoloader Australia Pty Ltd.; Kalmar Inc.; Konecrane Oyj; Konecranes Plc; Kress Corp.; Kress Corporation; Liebherr International AG; Mobicon Systems Pty Ltd.; Morello Giovanni Srl; Nelcon; Terex Port Solutions; Valmet and Others.
Coverage: All major geographies and key segments
Segments: Segment (Straddle Carriers)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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ABSTRACT-
Global Straddle Carriers Market to Reach 13 Thousand Units by the Year 2026
Straddle carriers, also called straddle trucks, are specialized mobile equipment used for transportation of ISO-standard containers. These highly-versatile machines are widely used in container port terminals for stacking, loading, and unloading containers. These non-road carriers help in improving terminal throughput by decoupling yard and ship-to-shore operations. There is a growing demand for efficient container-handling equipment among port terminal operators across the globe, which is driving increased investment in new fleets that can effectively address the issue of port congestion. Owing to their ability of loading and unloading containers without the assistance of forklifts or cranes, straddle carriers are witnessing an increased demand in the container industry for efficient movement of containers across long distances. Growth in seaborne trade, modernization of freight-carrying equipment, and expansion of port infrastructure in North America are some of the key factors that are likely to play an important role in augmenting growth in the market. Demand is also driven by various macroeconomic as well as industry-specific factors, such as growing investments in Brownfield and Greenfield projects coupled with rising adoption of automated products, albeit the complexities associated with these products for straddle carrier manufacturers.
Amid the COVID-19 crisis, the global market for Straddle Carriers estimated at 9.9 Thousand Units in the year 2020, is projected to reach a revised size of 13 Thousand Units by 2026, growing at a CAGR of 4.6% over the analysis period. Straddle carriers are witnessing significant adoption in recent years owing to the wide range of advantages offered by them, including high productivity, higher effectiveness in bulk handling, and enhanced flexibility in comparison to RTG or RMG handling systems.
The U.S. Market is Estimated at 1.4 Thousand Units in 2021, While China is Forecast to Reach 2.7 Thousand Units by 2026
The Straddle Carriers market in the U.S. is estimated at 1.4 Thousand Units in the year 2021. The country currently accounts for a 13.65% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of 2.7 Thousand Units in the year 2026 trailing a CAGR of 5.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 3.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR while Rest of European market (as defined in the study) will reach 2.9 Thousand Units by the end of the analysis period. Asia-Pacific is home to half of the world's largest ports and hence has emerged as a vital target market for the stakeholders operating in the container industry. In addition, Asia-Pacific countries, such as China, are witnessing a growing need for mined products from the electrical utility, chemical, agriculture, construction, and steel industries, which in turn is propelling an increased demand for freight-carrying equipment, such as straddle carriers. More
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Director, Corporate Communications
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Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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