The global straddle carrier market was valued at USD 5,986.99 million in 2018 and is expected to reach USD 8,098.90 million by 2025, growing at a CAGR of 4.47% during the forecast period.
Straddle carriers are also referred to as straddle trucks that are used as freight handling equipment. The equipment functions by carrying the freight load underneath it by using a straddling process. This cargo handling system has the ability to unload and load without use of forklifts or cranes, making straddle carriers a beneficial freight carrying equipment. There are various types of straddle carrier variants, namely, manual, automatic and semi-automatic that have varying loading capacities.
Rising demand for terminals is anticipated to increase the demand for straddle carriers, increasing automation and Internet of Things (IoT) penetration in fleet management systems are some of the factor for market growth. However, high operation and maintenance cost of straddle carriers remain restrain the growth of the market.
South East Asia Straddle Carrier Market Revenue, 2014 - 2025
Based on type, the market is segmented into 30-35T, 35-40T, 40-50T and others. In 2018 40-50T held majority of the market share globally. 35-40T will also show strong revenue growth of straddle carrier market. A straddle carrier’s efficiency mainly depends on different parameters, such as pumping speed and throughput. The re-generated energy is stored in short-term electric storage modules (ECOCaps) and is fed into the system when required.
Based on application, the market is segmented into Port Terminals and Intermodal Yards. In 2018, Port Terminals industry dominated the market. Intermodal Yards is also expected to contribute more in forecasted period. The percentage of population inclined towards being fit is going northward and there is a surge in the number of Intermodal Yards. Automated solutions have penetrated the container terminal space in a bid to solve the challenges faced by larger ships apropos of effective containerization.
Furthermore, APAC estimated to expand at the rapid pace during the forecast period, followed by North America and Europe. Chinese company, ZPMC, involved in the straddle carrier manufacturing has come up with an AI straddle carrier. This has resulted in reduction of terminal staff that can be used to carry out other tasks, along with horizontal transportation efficiency enhancement of port terminals by more than 50 percent. In addition, the company claims that the accuracy quotient of autonomous AI straddle carrier is almost 100 percent, facilitating higher productivity and efficiency. The industry is highly fragmented with the presence of well-established and small companies in the industry.
The global straddle carrier market is primarily segmented by type, application and region.
Based on type, the market is split into:
Based on application, the market is divided into:
* Port Terminals
* Intermodal Yards
Moreover, the market is classified across regions and countries as follows:
* North America- U.S., Canada
* Europe- U.K., France, Germany
* Asia-Pacific- China, Japan, India
* Latin America- Brazil, Mexico
* Middle East & Africa- South Africa, Saudi Arabia
Key Market Players:
The key players profiled in the market include:
* Kalmar (Cargotec Corporation)
* Liebherr Group
* Tuthill Corporation
* Mobicon Systems
* Cimolai Technology S.p.A,
* Combilift Ltd.
* CVS Ferrari SrL
* Gerlinger Carrier
These enterprises are focusing on growth strategies, such as new product launches, expansions, acquisitions, and agreements & partnerships to expand their operations across the globe.
Key Benefits of the Report:
* Global, regional, country, product type and application market size and their forecast from 2014-2025
* Identification and detailed analysis on key market dynamics, such as, drivers, restraints, opportunities, and challenges influencing growth of the market
* Detailed analysis on industry outlook with market specific Porter’s Five Forces analysis, PESTLE analysis, and Value Chain, to better understand the market and build expansion strategies
* Identification of key market players and comprehensively analyze their market share and core competencies, detailed financial positions, key products, and unique selling points
* Analysis on key player’s strategic initiatives and competitive developments, such as joint ventures, mergers, sales contracts, and new product launches in the market
* Expert interviews and their insights on market shift, current and future outlook, and factors impacting vendors’ short term and long term strategies
* Detailed insights on emerging regions, product types and applications with qualitative and quantitative information and facts
* Identification of the key patents filed in the field of straddle carrier
* Straddle carrier manufacturer & Technology Providers
* Traders, Importers, and Exporters
* Raw Material Suppliers and Distributors
* Research and Consulting Firms
* Government and Research Organizations
* Associations and Industry Bodies
The market is derived through extensive use of secondary, primary, in-house research followed by expert validation and third party perspective, such as, analyst reports of investment banks. The secondary research is the primary base of our study wherein we conducted extensive data mining, referring to verified data sources, such as, white papers, government and regulatory published articles, technical journals, trade magazines, and paid data sources.
For forecasting, regional demand & supply factors, recent investments, market dynamics including technical growth scenario, consumer behavior, and end use trends and dynamics, and production capacity were taken into consideration. Different weightages have been assigned to these parameters and quantified their market impacts using the weighted average analysis to derive the market growth rate.
The market estimates and forecasts have been verified through exhaustive primary research with the Key Industry Participants (KIPs), which typically include:
* Raw Material Providers
* Government Body & Associations
* Research Institutes