Based on Tec Container Asia Pacific’s observations, the port operation and container cargo handling industry has witnessed a rapid and strong growth in the last five years globally. This is largely due to the strong demand in the logistics and shipping sectors and global trade volumes. IBIS World predicts that the industry is projected to grow at 3.5% over the next five years to 2022.
In the Asia Pacific region (including South East Asian countries such as Philippines), the international trade among Asian countries have boosted the industry growth, and it is forecast to push the industry forward in the next five years. The APAC region accounts for an astonishing 52.7% of global container throughput in 2017. This is significantly due to expansions of the South East Asian countries’ (e.g. Philippines, Malaysia, Indonesia) share of global container traffic since the year of 2012. Another contributing factor is the considerable economic growth in the developing countries in this region such as Philippines over the last five years.
All these have led to the increased sale of Tec Container’s container handling equipment such as container spreaders, overheight frame, attachments for forklifts, lashing equipment etc. Last but not least, the focus on safety is indispensable for container handling here in Philppines, which is contributable to the increased sale of Tec Container Asia Pacific’s personal safety cages. Tec Container Asia Pacific predicts that this trend will continue in the foreseeable future.
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Note: Some figures and predictions are based on IBIS World’s industry reports.