The growing implementation of automated terminals is expected to boost market growth in coming years

Rockville , Jan. 02, 2024 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Straddle Carriers Market is predicted to reach a value of US $1.4 Billion by the end of 2033 while increasing at a CAGR of 5.7%.

Straddle carriers are specialized vehicles used in ports to handle shipping containers efficiently. They stand out for their flexibility, being able to lift and transport containers of various sizes without the need for additional equipment. Straddle carriers are known for their excellent vertical stacking ability, maximizing storage space in container yards. Their mobility and maneuverability make them suitable for navigating tight spaces, and they often require less infrastructure than alternatives like cranes. Many modern straddle carriers can operate remotely or in automated modes, improving safety and efficiency.

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The growth of the Straddle Carriers Market is driven by increasing demand for container handling efficiency in ports and terminals, fueled by the expanding global trade. Straddle carriers play a pivotal role in this context, offering flexibility in handling various container sizes and shapes, reducing turnaround times, and optimizing storage space.

Straddle carriers from different manufacturers may face challenges in working together seamlessly due to differences in automation and control systems. Additionally, operating straddle carriers demand a skilled workforce, and there may be challenges in finding and retaining qualified operators.

Report Attribute	Details
Value Projection (2033)	US$ 1.4 Billion
Growth Rate (2023-2033)	5.7% CAGR
No. of pages	170 Pages
No. of Tables	226 Tables
No. of Figures	171 Figures

Key Takeaways:

• The Asia Pacific market is expected to experience a 4% CAGR throughout the forecast period. The substantial population in emerging nations within the Asia Pacific region has led to a significant boost in the export and import business, fueling the demand for straddle carriers.
• Germany holds the top position as the primary contributor to the European market. The presence of crucial ports in the country is leading to a growing demand for straddle carriers.
• The demand for electric straddle carriers is expected to advance at a CAGR of 3.5% in the next decade. This growth is anticipated as environmental regulations become more stringent, and nations focus on reducing emissions, leading to an increased adoption of electric saddle carriers in the upcoming years.
  

The growing global trade demand for efficient container handling, the increasing adoption of automation technologies in port operations, and the machines' flexibility to handle various container sizes are driving market growth - Says FACTMR Expert

Key Companies Profiled in This Report

• Kalmar Inc
• Cimolai Technology Spa
• Konecrane Oyj
• Mobicon Systems Pty Ltd
• ASCOM S.p.A
• Kress Corporation
• Cargotec Oyj
• Combilift
• Liebherr International AG
• Cometto S.p.A
• NRS AS
  

Market Competition

Amidst heavy competition in the market, key players are making substantial investments in research and development to meet customer requirements. Additionally, these players ensure the global availability of their products in all regions.

• Cargotec's subsidiary, Kalmar, has agreed to provide three diesel-electric straddle carriers to the global logistics and freight operator Tropical Shipping. The order, part of Cargotec's 2022 third-quarter intake, is scheduled for delivery in the third quarter of 2023.
• In June 2023, Kalmar introduced the Electric Straddle Carrier Charge Family, expanding its swiftly growing collection of fully electric equipment.

Winning strategies

Key players in the market are incorporating predictive maintenance technologies into straddle carriers, allowing for proactive equipment monitoring, minimizing downtime, and optimizing overall operational efficiency.

Utilizing telematics and data analytics to gather insights on equipment performance, operational patterns, and maintenance needs, key players can offer data-driven solutions, improving decision-making and operational planning for port operators.

In the Straddle Carriers Market, leaders are making cybersecurity a top priority to safeguard against cyber threats. This strategy ensures the secure operation of automated and remotely controlled systems, making it a key element for success in the market.

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Country-wise Insights

Why is the United States at the Forefront of the North American Market?

North America's market leader is the United States. The second-biggest importer in the world, the United States, has a massive trade deficit. The United States frequently spends far less when buying goods from other nations, even though it is capable of producing practically all of its imports. Consequently, ports have grown throughout the nation.

The need for electric straddle carriers is also anticipated to increase more quickly because the nation has well-developed EV infrastructure and the government promotes the development of electric vehicles.

Moreover, at the busiest ports in Canada—Halifax, Montreal, Prince Rupert, and Vancouver—cargo volume rose by 4%. Canada's ports are also expanding and renovating existing facilities in order to handle the anticipated steady increase in cargo traffic. Over the course of the forecast period, it is anticipated that the Canadian market for straddle carriers would grow quickly due to the government's emphasis on expanding cargo capacity at ports and the development of innovative technology.

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Barge Transportation Market: Worldwide demand for barge transportation services is predicted to rise steadily at 4.5% CAGR and climb to a market size of US$ 209.36 billion by 2033-end.

About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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