Technavio, a tech-focused market research firm, has published a new report on the global straddle carrier market, which is expected to grow at a CAGR of close to 4% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global straddle carrier market into the following key regions: the Americas, APAC, and EMEA.
Top three contributors for the global straddle carrier market are elaborated below:
Straddle carrier market in APAC: About 50% of the world’s largest ports (in terms of container handling) are located in APAC, making the region one of the most preferred locations for the stakeholders that operate in the container industry. The increased need for mined products from the steel, construction, agriculture, chemical, and electrical utility industries is the fundamental driving force behind the demand for straddle carriers in the APAC region.
According to Siddharth Jaiswal, a lead analyst at Technavio, specializing in research on automotive manufacturing, “The inherent drivers of the container industry and the expanding port infrastructure in APAC are fueling the growth of the straddle carrier market in the region. For instance, India is planning to spend an amount of around USD 60 million in developing seven new ports in the country by 2020.”
Straddle carrier market in EMEA: Rotterdam is Europe’s largest seaport for both container handling and bulk cargo. Other important ports in terms of container handling in Europe are Antwerp, Hamburg, Bremen, and Valencia. Due to the strong potential of sea trade, companies like Maersk and MSC have their presence in the west coast of Africa. The straddle carrier is the main instrument needed to move loads from the quayside to the stackside. As a result, with the increase in the seaborne trade and the presence of big shipping container companies, the straddle carrier market is likely to experience substantial growth during the forecast period.
Straddle carrier market in the Americas: Since the straddle carrier is one of the important components in port equipment, its market is expected to grow with the development of the port infrastructure. The increase in seaborne trade along with the modernization of equipment is the major factor driving the straddle carrier market in this region. The US is expected to emerge as the key revenue generating country in the straddle carrier market in the Americas during the forecast period.
The leading vendors operating in the global straddle carrier market are:
Other prominent vendors in the market include Terex Port Solutions.
A more detailed analysis is available in the Technavio report titled, ‘Global Straddle Carrier Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global All Wheel Drive (AWD) Tractor Market 2017-2021
- Global Super-Sport Motorcycle Market 2017-2021
- Global Microcars Market 2017-2021
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