Straddle Carrier Market Research Report: By Type (Rubber Tyred Straddle Carriers (RTSCs), Rail Mounted Straddle Carriers (RMSCs), Automated Guided Vehicles (AGVs), Automated Straddle Carriers (ASCs)), By Capacity (Below 40 Tons, 40-50 Tons, 50-60 Tons, Above 60 Tons), By Fuel Type (Diesel, Electric, Hybrid), By Application (Container Handling, Shipyards, Heavy Industries, Mining) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Global Straddle Carrier Market Overview

The Straddle Carrier Market Size was estimated at 1.85 (USD Billion) in 2022.The Straddle Carrier Industry is expected to grow from 1.92(USD Billion) in 2023 to 2.7 (USD Billion) by 2032. The Straddle Carrier Market CAGR (growth rate) is expected to be around 3.86% during the forecast period (2024 - 2032).

Key Straddle Carrier Market Trends Highlighted

Major market trends in the Straddle Carrier Market include the rising demand for efficient and cost-effective material handling solutions in ports and terminals, the increasing adoption of automation and advanced technologies to improve operational efficiency, and the growing focus on sustainability and environmental regulations. Key market drivers include the expansion of global trade and increased cargo volumes, the development of larger and more sophisticated container ships, and the need for improved safety and productivity in port operations. Opportunities for market growth include the development of new technologies such as electric and hybrid straddle carriers, the expansion of ports and terminals in emerging markets, and the increasing demand for specialized straddle carriers for handling various types of cargo.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Straddle Carrier Market Drivers

Increasing Demand for Efficient Port Operations

The growing global trade volume and the need for efficient port operations are driving the demand for straddle carriers. Straddle carriers are specialized vehicles designed to transport containers within port terminals. They offer several advantages over traditional methods of container handling, such as reduced labor costs, increased productivity, and improved safety. As ports around the world continue to expand and modernize, the demand for straddle carriers is expected to grow steadily in the coming years. Straddle carriers are particularly well-suited for handling large volumes of containers in high-traffic port environments. They can quickly and efficiently move containers between ships, storage yards, and other areas within the port. This helps to improve the overall efficiency of port operations and reduce turnaround times for vessels. Additionally, straddle carriers can be equipped with advanced technologies, such as automated guided vehicle systems (AGVS), which further enhance their productivity and safety. The increasing adoption of straddle carriers is also being driven by the need for sustainable and environmentally friendly port operations. Straddle carriers are typically powered by electric motors, which produce zero emissions. This helps to reduce the environmental impact of port operations and contributes to the overall sustainability of the global supply chain.

Growth of the E-commerce Industry

The rapid growth of the e-commerce industry is another major factor driving the demand for straddle carriers. The increasing popularity of online shopping has led to a surge in the volume of goods being shipped through ports. Straddle carriers are essential for handling the large number of containers that are used to transport these goods. They enable ports to quickly and efficiently move containers between ships and warehouses, ensuring that goods can be delivered to consumers as quickly as possible. The e-commerce industry is expected to continue to grow rapidly in the coming years, which will drive the demand for straddle carriers. As more and more consumers choose to shop online, the volume of goods being shipped through ports will increase, creating a need for more efficient and productive container handling solutions. Straddle carriers are well-suited to meet this need, and their adoption is expected to increase significantly in the years to come.

Government Regulations and Infrastructure Investments

Moreover, the demand for straddle carriers is increasing due to government regulations and infrastructure investments. Governments of many countries all over the world implement numerous regulations in order to decrease emissions from port operations. Therefore, the adoption of electric straddle carriers, which produce absolutely no emissions is growing. Furthermore, governments make investments in the development of terminal infrastructure. For example, South Africa  finished the construction of the most advanced terminal in Africa in 2019, which covers an area of 60 hectares.This terminal, as well as the increased number of terminals and new port equipment creates a need for a lot of new straddle carriers. Thus, the Straddle Carrier Market Industry is expected to profit from the aforementioned factors in the short-term perspective.

Straddle Carrier Market Segment Insights

Straddle Carrier Market Type Insights  

Rubber Tyred Straddle Carriers (RTSCs) dominated the Straddle Carrier Market revenue in 2023, accounting for over 60% of the market share. RTSCs are widely used in container terminals and other port applications due to their flexibility, maneuverability, and ability to handle a wide range of container sizes. Rail Mounted Straddle Carriers (RMSCs) are expected to witness significant growth over the forecast period, owing to their high efficiency and capacity. RMSCs are primarily used in large container terminals and rail yards, where they can transport containers quickly and efficiently over long distances.Automated Guided Vehicles (AGVs) are gaining popularity in the Straddle Carrier Market, driven by the increasing adoption of automation in port operations. AGVs are self-propelled vehicles that can navigate autonomously, reducing the need for human operators. Automated Straddle Carriers (ASCs) are expected to emerge as a key growth segment in the coming years. ASCs combine the advantages of RTSCs and AGVs, offering high efficiency, flexibility, and automation. ASCs are expected to find increasing adoption in automated container terminals and other port applications.The Straddle Carrier Market is expected to grow at a steady pace over the forecast period, driven by the increasing volume of global trade and the growing demand for efficient and cost-effective container handling solutions.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Straddle Carrier Market Capacity Insights  

The capacity segment of the Straddle Carrier Market is divided into Below 40 Tons, 40-50 Tons, 50-60 Tons, and Above 60 Tons. Among these, the 40-50 Tons segment is anticipated to hold the leading market share in 2023, which is expected to be 35.2% of the overall market revenue. This is mainly because the demand for straddle carriers in the capacity range of 40-50 tons is increasing, as it is ideal for handling a variety of containers, including standard ISO containers, high-cube containers, and refrigerated containers. At the same time, the Below 40 Tons segment is anticipated to witness the highest growth rate over the forecast period.Such a high growth rate is attributed to the fact that as straddle carriers with a capacity of less than 40 tons are cost-effective, they are ideal for handling smaller containers and specialized cargo. The 50-60 Tons segment is likely to be one of the leading ones, as the use of larger tonnage containers in the shipping industry is rising. The Above 60 Tons segment is expected to hold a limited share of the market, as there is a need for such carriers to handle heavy and oversized cargo, which is a relatively less common occurrence in the container shipping industry.

Straddle Carrier Market Fuel Type Insights  

The Straddle Carrier Market is segmented on the basis of fuel type into Diesel, Electric, and Hybrid. The Diesel segment held the largest market share in 2023, and it is expected to continue to dominate the market during the forecast period. The Electric segment is expected to grow at the highest CAGR during the forecast period, due to the increasing demand for environmentally friendly vehicles. The market growth is attributed to the increasing demand for straddle carriers in the logistics and transportation industry. The market is also driven by the growing popularity of e-commerce, which has led to an increase in the demand for efficient and cost-effective transportation solutions.

Straddle Carrier Market Application Insights  

The Straddle Carrier Market is segmented based on Application into Container Handling, Shipyards, Heavy Industries, and Mining. The Container Handling segment is expected to account for the largest share of the market in 2023 and is projected to grow at a CAGR of 3.86% from 2023 to 2032. The growth of this segment is attributed to the increasing demand for container handling equipment in ports and terminals worldwide. The Shipyards segment is expected to be the second-largest segment in 2023 and is projected to grow at a CAGR of 3.5% from 2023 to 2032.The growth of this segment is attributed to the increasing demand for straddle carriers in shipyards for the transportation of heavy materials. The Heavy Industries segment is expected to grow at a CAGR of 3.2% from 2023 to 2032. The growth of this segment is attributed to the increasing demand for straddle carriers in heavy industries such as steel mills and power plants. The Mining segment is expected to grow at a CAGR of 3% from 2023 to 2032. The growth of this segment is attributed to the increasing demand for straddle carriers in mines for the transportation of heavy materials.

Straddle Carrier Market Regional Insights  

The regional segmentation of the Straddle Carrier Market offers valuable insights into the market's geographic distribution and growth dynamics. In 2023, North America held the largest revenue share, accounting for nearly 35% of the global market. The region's advanced logistics and transportation infrastructure, coupled with the presence of major ports and terminals, contribute to its dominance. Europe is another significant region, with a market share of approximately 28%. The region's strong manufacturing base and developed economies drive the demand for straddle carriers.APAC is projected to witness the fastest growth over the forecast period, with a CAGR of 4.2%. The region's rapidly expanding logistics and manufacturing sectors, along with government initiatives to improve infrastructure, are expected to fuel market growth. South America and MEA represent smaller but growing markets for straddle carriers, with market shares of 5% and 3%, respectively. These regions are experiencing increasing demand for efficient and reliable cargo handling solutions to support their growing economies.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Straddle Carrier Market Key Players And Competitive Insights

The Straddle Carrier Market major players are continuously Aktiebolag striving to gain a competitive advantage through investments in research and development, expanding and diversifying the product range and investing in strategic M Being at the forefront of the Straddle Carrier Market, leading companies focus on developing innovative and effective solutions that are high in demand. The Straddle Carrier Market is a highly competitive product-market where several major companies compete, striving to win a high market share in the sector. Among the companies which are active in the Straddle Carrier Market are Konecranes, Kalmar and Mitsui Engineering  Shipbuilding. These companies are established players in the market, have developed a strong market position and acquire a heavy product portfolio. These companies are focused on innovation, striving to remain in the lead in the sector.Konecranes is a global supplier of lifting equipment and services. The company is positioned in the Straddle Carrier Market and offers a wide product portfolio and service range, in order to meet the customer requirements. Konecranes is committed to innovation and highly emphasizes the importance of investments in the development and the R activities. The company has strong global exposure and covers a large variety of industries, serving numerous customers worldwide.Another established player in the Straddle Carrier Market is Kalmar. The company is a global supplier of cargo handling solutions. Kalmar holds a strong market position in the Straddle Carrier Market, offering a wide range of products and services in order to meet the customer demands. The company focuses on innovation, commits to providing efficient solutions to the customers and focuses on investments in R Kalmar is globally present and serves customers across different industries.

Key Companies in the Straddle Carrier Market Include

• Guangxi Liugong Machinery


• Konecranes


• Kalmar


• Shanghai Zhenhua Heavy Industry


• ESCO Corporation


• Terex


• Terberg


• HysterYale Materials Handling


• Mitsui Engineering Shipbuilding


• Doosan Heavy Industries Construction


• Cargotec


• Sany Heavy Industry


• ZPMC


• Liebherr


• Luffing Machinery

Straddle Carrier Market Industry Developments

The Straddle Carrier Market is anticipated to witness steady growth over the forecast period, reaching a valuation of approximately USD 1.92 billion by 2023. This growth is primarily attributed to the increasing demand for efficient and reliable cargo handling solutions in ports and terminals.Recent developments indicate a growing adoption of automated and semi-automated straddle carriers, driven by the need to enhance operational efficiency and reduce labor costs. Additionally, the increasing number of mega-container ships has necessitated the deployment of larger and more capable straddle carriers to handle the larger cargo volumes.Key players in the market are focusing on technological advancements and strategic partnerships to maintain their competitive edge. For instance, in 2023, Konecranes signed a contract to deliver 12 fully automated straddle carriers to the Port of Gothenburg, Sweden. These carriers are equipped with advanced features such as remote control and automated navigation systems, aiming to improve safety and productivity.Overall, the Straddle Carrier Market is expected to remain dynamic, with ongoing technological advancements and increasing adoption in major ports and terminals worldwide.

Straddle Carrier Market Segmentation Insights

• Straddle Carrier Market Type Outlook
  
  
  
  • Rubber Tyred Straddle Carriers (RTSCs)
  
  
  • Rail Mounted Straddle Carriers (RMSCs)
  
  
  • Automated Guided Vehicles (AGVs)
  
  
  • Automated Straddle Carriers (ASCs)
  
  
  
  

• Straddle Carrier Market Capacity Outlook
  
  
  
  • Below 40 Tons
  
  
  • 40-50 Tons
  
  
  • 50-60 Tons
  
  
  • Above 60 Tons
  
  
  
  

• Straddle Carrier Market Fuel Type Outlook
  
  
  
  • Diesel
  
  
  • Electric
  
  
  • Hybrid
  
  
  
  

• Straddle Carrier Market Application Outlook
  
  
  
  • Container Handling
  
  
  • Shipyards
  
  
  • Heavy Industries
  
  
  • Mining
  
  
  
  

• Straddle Carrier Market Regional Outlook
  
  
  
  • North America
  
  
  • Europe
  
  
  • South America
  
  
  • Asia Pacific
  
  
  
  

Middle East and Africa