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The report offers actionable and valuable information about the Straddle Carrier market. The latest report from Fact.MR provides details about the current scenario of the Straddle Carrier market across various regions along with historical data and forecast for the Straddle Carrier market. The report also includes information on the sales and demand of Straddle Carrier across various industries and regions. Market dynamics including the latest trends, challenges, growth opportunities, and drivers are also provided in the Straddle Carrier market report.
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The growth in maritime business coupled with a significant increase in containerized trade around the world continues to play a key role in the growth of the straddle rider market. Straddle forklift sales are also affected by a number of macroeconomic and industry specific factors, such as increased investment in the Greenfield and Brownfield projects, as well as the growing adoption of automated products, albeit its complexity for manufacturers of straddle carriers.
Fact: MR forecasts demand for straddling carriers to increase at a steady rate reflecting a 4.5% CAGR in terms of value during the forecast period, 2018-2028. More than 700 units of straddle carriers are expected to be sold by the end of 2028, according to Fact.MR study.
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The adoption of the straddle carrier is expected to see significant improvement due to the various advantages offered by the equipment, such as higher efficiency in bulk handling, high flexibility compared to RMG or RTG handling systems and high productivity. . Economic stability has resulted in a significant increase in international trade. Industrialization and globalization are expected to give impetus to maritime trade, in turn presenting potential growth avenues for manufacturers of straddle carriers. According to the International Chamber of Shipping (ICS), maritime trade represents about 90% of foreign trade in the world. This will likely translate into substantial demand for terminals, in turn pushing the demand for straddling carriers, with ocean transport being an economical mode for freight shipments.
The demand for straddling carriers in port terminal applications is estimated to grow at a significant rate during the evaluation period. The Fact: MR predicts that straddle carrier sales in port terminal applications are expected to exceed US $ 65 million by the end of the valuation year amid the rise in port terminals globally. In addition, the growth of the straddle carriers market is also expected to remain influenced by their increasing use in intermodal stations in the coming years, the report says.
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Straddle trucks with a load capacity of 50T are likely to see increased adoption due to their increasing demand for stacking and moving ISO size containers which typically weigh around 35T. In addition, the increase in vessel size coupled with the increase in container traffic has resulted in the demand for efficient cargo handling equipment such as straddle carriers. PEMA (Association of Port Equipment Manufacturers) reveals that the sales of straddling carriers are largely fueled by their growing demand from large and medium ports in various countries around the world. In addition, the growing number of containers has necessitated a demand for stacking. This has driven the adoption of the straddle cart which can handle both 1 in 2 and 1 in 3 stacking systems.
Lower oil prices are expected to open up potential growth avenues for the straddle carrier market. This factor is expected to trigger fuel production growth in the years to come, hence the need for efficient containerization and straddle carriers are no exception. The US Energy Information Administration (EIA) predicts that fuel production in the United States will likely exceed 10 million barrels per day, which should influence the growth in rider adoption. In addition, emerging Asia-Pacific countries excluding Japan (APEJ) such as China and India are expected to provide lucrative opportunities for manufacturers of straddle carriers. The expansion of port infrastructure and container industry in these countries is fueling the growth of the straddle carrier market in APEJ, the report says. According to the FACT.MR study, straddle carrier sales in the APEJ are expected to exceed US $ 25 million by the end of 2028.
Electric straddle carriers are likely to see increased adoption due to increasingly stringent environmental health regulations. The manufacturers of straddle carriers, meeting established standards against the levels of NOx and CO2, are developing electric variants of straddle carriers that provide increased operational efficiency and facilitate cost savings. However, the hybrid straddles are expected to gain traction over the forecast period as they feature a maintenance-free regenerative energy system with a significant reduction in fuel consumption.
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The Straddle Carrier market research answers important questions, including the following:
- Why are straddling carriers market players focused on expanding business in the region?
- Which regulatory authorities have approved the application of Straddle Carrier Market
- What are the advantages and disadvantages of the Straddle Carrier Market on the environment?
- Why do players target segment production?
- What strategies are implemented by the emerging players in the global Straddle Carrier market?
The Straddle Carrier Market report provides readers with the following data:
- In-depth analysis of trends on the supply and demand side.
- Direct and indirect impacts of the growth of relevant markets on the Straddle Carrier
- Importance of the segment in various regions.
- Precise annual growth of the global straddle carrier
- Consumer trends around the world.
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