LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global solar industry equipment transportation market is projected to grow to USD 35.53 billion by 2021, at a CAGR of more than 7% over the forecast period.
This research report titled ‘Global Solar Industry Equipment Transportation Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|The logistics of solar industry equipment involves movement and storage of oversized cargo to aid the large-scale setting up of solar-based power plants at highly inaccessible locations. The solar energy market has been showing impressive growth due to the falling cost of procurement and improving the efficiency of the solar system. This is creating additional demand for solar industry equipment transportation and thereby driving the market growth.|
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Based on the mode of transportation, the report categorizes the global solar industry equipment transportation market into the following segments:
The top three revenue-generating modes of transportation segments in the global solar industry equipment transportation market are discussed below:
“The global solar industry equipment transportation market by road is expected to be worth over USD eight billion by 2021. Road transport is the more preferred mode of transportation due to factors such as less idle time, ability to use different routes, cargo safety and tracking, and last mile delivery,” says Sharan Raj, a lead analyst at Technavio for transportation and distribution research.
Advancements, such as ICT, computerized vehicle routing, and active traffic management are further driving the demand road transport. Despite the advantages, factors such as the weight of solar equipment, inability to navigate the components through bridges or tunnels, and delay in delivery due to longer routes are some of the challenges vendors are working towards overcoming.
The global solar industry equipment transportation market by rail is projected to grow at a moderate period over the forecast period. Rail transportation offers a structured network in terms of planning and management, proper scheduling of arrivals and departures, and advanced signaling systems. Rail transport is also reliable and helps maintain a fixed schedule.
Rail transportation is often cost effective compared when compared with road freight since a lower amount of fuel is required to transport a ton of goods via rail. The type of solar equipment that is carried by rail transportation includes mid-sized turbines and microinverters, as large turbines do not fit into the railcars.
“The global solar industry equipment transportation market by sea will post the fastest growth rate, with an expected CAGR of close to 8% during the forecast period. The growth of this market is due to the increasing demand for low-cost shipping and its impressive cargo carrying capacity,” says Sharan.
The long-term partnership between the carriers and freight forwarders enables the shipper to lower the transport costs further. Freight forwarders provide customers with a wide range of integrated services, which not only include the usual transport of cargo from source to destination but also a host of other services such as customs brokerage, origin consolidation, and destination deconsolidation services.
The top vendors highlighted by Technavio’s research analysts in this report are:
- DB Schenker
- Maersk Line
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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