Straddle Carrier Market Report

Automation has rapidly become one of the most common trends in industrial applications, including shipping. With a growing emphasis on productivity and efficiency, automated terminals have increased in popularity. Furthermore, automated solutions have penetrated the container terminal environment in an effort to overcome the containerization difficulties that larger ships face. With automated terminals, waiting and processing times for ships are reduced, increasing their acceptance in major ports across the world. This aspect is anticipated to provide potential for straddle carriers to flourish in the coming decades. Manufacturers of straddle carriers, highly influenced by the automation concept, are focusing on R&D to build modern versions equipped with artificial intelligence. For instance, ZPMC, a Chinese straddle carrier manufacturer, developed an Al straddle carrier. This has resulted in fewer terminal staff who may be employed in other tasks and a rise in port terminals' horizontal transit efficiency of more than 50%. Furthermore, the company claims that the autonomous Al straddle carrier has an accuracy ratio of nearly 100%, enabling for improved efficiency and production.

Electric straddle carrier demand is expected to grow at the fastest rate over the forecast period. Sustainability is becoming increasingly important in cargo and material handling. Electrification is an increasing trend as ports and terminals throughout the world strive for higher energy efficiency and fewer emissions. The electrification of port facilities has been found to dramatically cut pollution. The usage of electric straddle carriers is expected to increase in the future years as governments attempt to reduce emissions. Straddle carrier manufacturers are developing electric versions of straddle carriers that offer improved operating efficiency and cost savings while meeting NOx and CO2 regulations. Demand for hybrid straddle carriers is expected to rise over the forecast period as a result of its maintenance-free regenerative energy system and considerable decrease in fuel consumption.

Low freight costs and overcapacity have resulted in a rise in bulk trade. This issue is expected to have a detrimental influence on the shipping container business, hence limiting the expansion of the straddle carrier market. However, it is expected that initial huge expenditures in port handling equipment, as well as significant labour, will have an influence on the trade environment. In addition, integrating these carriers into existing port or logistics systems presents significant challenges, particularly in terms of technological compatibility and data integration, which can be costly for less advanced operators. Stricter environmental regulations regarding emissions, noise, and energy efficiency may require costly adjustments to comply. Additionally, alternatives like automated guided vehicles (AGVs) and rubber-tired gantry cranes (RTGs) often offer better cost-effectiveness and flexibility. Economic fluctuations and trade uncertainties can also lead to postponed investments in new equipment. Moreover, the need for specialized skills for operation and maintenance can hinder effective utilization, especially in areas with a shortage of trained personnel.

Major industry leaders utilize strategies that focus on launching new products, merging with competitors, and purchasing companies to grow their customer base and enhance their range of products. In May 2024, APM Terminals Barcelona marked a pivotal advancement in equipment electrification by commissioning 17 Konecranes NSC 644 EHY hybrid straddle carriers. These new models promise up to 32.5% fuel savings compared to current top-tier cranes and will cut the terminal's annual CO2 emissions by 50 tons. This move aligns with APM Terminals' commitment to reducing emissions by 70% by 2030 and achieving net zero by 2040. The terminal is also gearing up for a ground-breaking electrification pilot with five electric straddle carriers, supported by Spain's Moves Singular Projects II Programme.

Furthermore, Kalmar, a Cargotec company, announced the debut of the Electric Straddle Carrier Charge Family in June 2023, the latest development to its fast expanding array of entirely electric equipment. The company's collection of electrically powered equipment includes straddle carriers and smaller machines like reach stackers and forklifts that can lift different amounts.

North America is expected to be the most important market for straddle carriers. Increasing port activity and investment in Canada and Mexico will propel the region. Furthermore, higher transportation requirements related with North America's developing industrial sectors are likely to boost market expansion throughout the forecast period. The Asia Pacific region is projected to be the fastest growing market. Increased port activity and investments in India and China will boost growth in this region. Furthermore, Asia Pacific's rapid industrialisation is likely to boost demand for intermodal freight transport services, propelling market development throughout the forecast period. Europe is also expected to develop at the fastest rate in the global straddle carrier market. This is attributable to increased infrastructure expenditures and increased demand for transport services throughout the region. Furthermore, the expansion of and other e-commerce logistics-related businesses is likely to drive market demand throughout the forecast period.