The global cargo handling equipment market is projected to reach US$34.03 billion by 2027 from US$25.67 billion in 2021, at a CAGR 4.8% during the forecast period.
Citing a report titled "Cargo Handling Equipment Market Intelligence Report — Global Forecast to 2027" by ResearchAndMarkets.com, Businesswire on Monday (Sept 5) said the report provides market sizing and forecast across seven major currencies, namely the USD, EUR, JPY, GBP, AUD, CAD, and CHF.
It said this helps organisation leaders make better decisions when currency exchange data is readily available.
In this report, the years 2019 and 2020 are considered as historical years, 2021 as the base year, 2022 as the estimated year, and years from 2023 to 2027 are considered as the forecast period.
The Americas cargo handling equipment market size was estimated at US$5.63 billion million in 2021, and is expected to reach US$5.81 billion in 2022.
It is projected to grow at a CAGR of 4.68% to reach US$7.41 billion by 2027.
The Asia-Pacific cargo handling equipment market size which was estimated at US$11.98 billion in 2021, is expected to reach US$12.47 billion in 2022, and is projected to grow at a CAGR of 4.96% to reach US$16.03 billion by 2027.
Meanwhile, the Europe, Middle East and Africa cargo handling equipment market size that was estimated at US$8.06 billion in 2021, is expected to reach US$831 billion in 2022, and is projected to grow at a CAGR of 4.65% to reach US$10.59 billion by 2027.
Source: The Edge Markets