Global Straddle Carrier Growth Opportunities, Forecast to 2030

Global Straddle Carrier Growth Opportunities, Forecast to 2030

Straddle carriers are used for intermodal operations in ports and terminals for stacking containers and transporting between quay crane and container exchange area. They are valued for their flexibility. The industry has grown significantly in recent years, with a global market size of $1.1 billion in 2022, and will likely record a 7.0% compound annual growth rate (CAGR) to reach $1.9 billion in 2030. Factors driving the industry include globalization, environmental regulations, and automation and connectivity.

Frost & Sullivan forecasts the United States and Europe to register resilient CAGRs of 6.0% and 6.2%, respectively, between 2022 and 2030. India and China will likely record strong CAGRs of 11.4% and 7.3%, respectively, for the same period because of expansion of port and logistics operations.

Cargotec, Konecranes, ZPMC, Mobicon, and Liebherr are major companies with a strong presence in multiple markets and a range of products. A pivot toward more sustainable and efficient vehicles with a focus on reducing emissions and improving fuel efficiency characterizes the industry. This drives innovation, with manufacturers developing electrification and autonomous technologies.