Global Container Stacking Cranes Market 2017-2021

Overview of the global container stacking cranes market

The volume of cargo is increasing due to growth in trade activities across the globe. The focus on the improvement of terminal operations is also increasing due to the rising need for stringent environmental and safety initiatives, increasing size of container vessels, and growth in the container throughput. The terminal capacities will further increase due to the rising investments and the structural changes in port and terminal industry. Technavio’s market research report identifies that the increased container port traffic will be one of the primary growth drivers for the global container stacking cranes market till 2021. APAC is the hub for more than half of the traffic. The growth opportunity for container stacking crane equipment manufacturers will also increase with the growth in the container traffic. The share of the global container trade will also increase due to the increasing growth rate of container traffic in developing countries. This in turn, will boost the demand for container stacking cranes. Technavio’s market research analysts predict that this market will grow at a CAGR of close to 5% by 2021.

The container port is experiencing changes in its demand due to the introduction of bigger container vessels. These containers have high throughput. Various industry players are required to adopt these containers due to the rising pressure from shipping carriers. This in turn, will boost growth in the terminal and hinterland infrastructure. Hinterland development is identified as one of the key trends that will gain traction in the container stacking cranes market throughout the predicted period. The adoption of giant crane equipment and bigger container vessels will continue to gain popularity because it creates a substantial competitive advantage for the carrier and reduces the associated costs. Terminal operators and hinterland transport vendors are introducing communication systems to coordinate the information in the supply chain, optimize the use of the container crane equipment, accelerate the container flow, and improve the productivity.

Competitive landscape and key vendors