AGRIBUSINESS | Staff Reporter, Singapore

APAC will lead container handling equipment market to 2025

Singapore, China, Japan, South Korea, and India are seen as the key markets.

The Asia Pacific (APAC) region is forecasted to lead the container handling market from 2017 to 2025, according to a study by market research firm ReportLinker.

APAC countries such as Singapore, China, Japan, South Korea, and India are seen as the key markets for such equipment.

Globally, the container handling equipment market is seen to grow at a compound annual growth rate of 4.24% to reach a market size of US$8.75b by 2025. The growth will be pushed by increasing focus on fleet-level emission reduction supported by rising stringency in emission norms as well as growing emphasis on port automation.

Meanwhile, the increased container throughput in APAC, Europe, and Middle East will boost demand for higher capacity engines. Currently, port terminals in China, Singapore, Germany, South Korea, and the United Arab Emirates (UAE) handle around 15-35m twenty-foot equivalent units (TEUs) per year which is not enough to meet increasing demands in the future.

As such, the report noted that these port terminals will require equipment with powerful engines to enable smooth and reliable operation.

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