LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global straddle carrier market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the global straddle carrier market for 2017-2021 provides a detailed industry analysis based on the geography, including APAC, EMEA, and the Americas.
|A straddle carrier is a non-road vehicle used in port terminals to transport and stack ISO standard containers. Shuttle carriers help improve the terminal operational efficiency by decoupling ship-to-shore and yard operations. Technavio analysts forecast the global straddle carrier market to reach 12,193 units by 2021, growing at a CAGR of more than 4% over the forecast period.|
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The top three emerging trends driving the global straddle carrier market according to Technavio automotive research analysts are:
- Growing adoption of automated terminals
- Rising needs of automation in port handling systems
- Increase in the number of new terminals with advanced features
Growing adoption of automated terminals
Innovations and technological developments have brought about numerous changes in the maritime industry. For instance, the introduction of navigation software, radio frequency identification (RFID) sensors, and other technicalities in the remotely operated cranes marks significant developments in the automated handling equipment at ports. The real-time control has reduced the complexity and improved the operational efficiency of maritime processes.
“Ports in Indonesia, Vietnam, and Malaysia are using automation to quickly boost the productivity in ways that were not possible for traditional port operators,” says Siddharth Jaiswal, a lead analyst at Technavio for automotive manufacturing research.
Rising needs of automation in port handling systems
Container terminals have become more efficient and require lesser revenue while providing better performance. Terminal operators are adopting innovative methods to perform terminal functions to lower their costs and direct it towards the automation of their processes. The automation of ports not only reduces the turnaround and waiting times for ships but also cuts the cargo holding duration. The highly-automated ports in Hong Kong, Singapore, and Taiwan have proven to be significantly more efficient than other ports across the globe in terms of ship turnaround times and crane movements.
Increase in the number of new terminals with advanced features
Major drivers for the global straddle carrier market include the improved consistency and predictability, the safety of operations, and the reduced environmental impact. The deployment of automated stacking cranes (ASCs) results in better space utilization since coastal land is very expensive.
“New terminals equipped with automated container terminals are cleaner, safer, and quieter than the conventional terminals, and they deliver containers much faster to truckers than the fully manned terminals,” says Siddharth.
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