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Global Straddle Carrier Market Insights, Trends & Future Development Status Recorded during 2018-2028
Fact.MR foresees that the demand for straddle carrier is projected to expand at a steady pace reflecting a CAGR of 4.5% in terms of value during the period of forecast, 2018-2028.
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.
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“Straddle Carrier Market Forecast, Trend Analysis and Competition Tracking – Global Review 2018-2028” is a comprehensive compilation of various data and key insights that key stakeholders can use and apply in their routine business setting. The extensive research study on straddle carrier market is a detailed report covering 17 chapters along with tables and figures representing key metrics of the market. The report on straddle carrier market includes data estimations in terms of US$ Mn along with volume projections (in terms of units) for a period of 10 years, form 2018 till 2028.
Increasing Adoption of Automated Terminals to Fuel Straddle Carrier Demand
Automation has not left any industry untouched and is spreading at a significant pace as one of the most prominent trends across industrial applications, including shipping. Automated terminals have been gaining substantial traction with growing focus toward high productivity and efficient operation. Moreover, automated solutions have penetrated the container terminal space in a bid to solve the challenges faced by larger ships apropos of effective containerization. With automated terminals, waiting and turnaround times for ships is reduced, which is driving their adoption across major ports worldwide. This factor is likely to present potential pathways of growth for straddle carriers in the coming years.
Rising Private-Public Partnerships in Ports to Stimulate Growth
Growth in international trade, particularly using sea routes, has presented lucrative opportunities for port handling equipment such as straddle carriers. However, high initial investments in port handling equipment coupled with heavy manpower is likely to impact the trading scenario. In a bid to facilitate trade progress, various countries are adopting private-public partnerships wherein management and operational responsibilities are delegated to private companies with assets and land delegated to the government. This trend is expected to relieve the high initial investment tension associated with terminal development at ports. This factor in combination with increasing focus toward enhancement of production has significantly pushed the growth of intermodal container leasing sector, consequently stimulating growth of straddle carrier market.
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Development of Unmanned Straddle Carriers in the Offing – New Trend Fostering Adoption
Largely influenced by the automation concept, manufacturers of straddle carriers are focusing on investing in research and development to introduced modern variants that are equipped with Artificial Intelligence. With Internet of Things (IoT) proliferating in every sector, manufacturers have leveraged its potential to develop Artificial Intelligence unmanned straddle carriers. For instance, 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.
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