Global Marine Port Services Market

Global Marine Port Services Market Size, Share, Growth Analysis, By Service(Container Handling Services, Ship Repair & Maintenance Services) - Industry Forecast 2023-2030


Report ID: SQMIG20Y2007 | Region: Global | Published Date: February, 2024
Pages: 260 | Tables: 39 | Figures: 74

Global Marine Port Services Market Insights

Marine Port Services Market size was valued at USD 73.91 billion in 2021 and is poised to grow from USD 77.38 billion in 2022 to USD 117 billion by 2030, growing at a CAGR of 4.7% in the forecast period (2023-2030).

Marine services are port-related operations carried out to provide secure berthing while moored or at anchor, as well as a safe flow of vessel traffic in port approaches and harbors. Although ports may have various definitions of marine services and different ways of delivering them, the phrase is used in this section to refer generally to services with a nautical focus, such as maritime safety, efficient vessel traffic, or marine environment preservation. Ports are a crucial part of the global transportation industry and help to grow the global economy. The booming seaborne trade and the expanding building of port infrastructure are significant drivers of the marine port services industry's expansion. Around 90% of traded products are transported over the seas, making ocean shipping the primary form of transportation for international trade. Therefore, the oceans serve as the primary means of transportation for international trade. Both possibilities and difficulties arise from this. Global freight demand is expected to rise, tripling marine commerce volumes by 2050. A large group of economic activities that can contribute value to the economy includes maritime shipping. This is expected to boost the growth of the global marine port services market during the forecast period.

International commerce and economic cycles have a direct impact on how much demand there is for marine port services. Due to the pandemic's lowered output and consumption, there has been less marine commerce, which has impacted port traffic and shipping demand. Activities in container handling ports have decreased as a result of a decline in demand for container transit. According to data from the UN Conference on Trade and Development (UNCTAD), global marine trade decreased by over 10% in 2020. The International Chamber of Shipping (ICS), a trade organization, estimates that the epidemic is costing the shipping sector 350 million each week in losses.

Despite the decline in marine traffic, the average cost of shipping a container has increased by four times in recent months, from $1,500 to roughly $5,000. This occurrence slows healing. There is an imbalance in the market since the demand for transportation vastly outweighs the supply.

US Marine Port Services Market  is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 73.91 billion

Largest Segment

Ship Repair & Maintenance Services

Fastest Growth

Ship Repair & Maintenance Services

Growth Rate

4.7% CAGR

Global Marine Port Services Market 2021-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
Global Marine Port Services Market Size by Services 2021-2028 ($ Bn)
Global Marine Port Services Market by Services 2021-2028 (%)

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Global Marine Port Services Market Segmental Analysis

Global marine port services market is segmented based on service and region. Based on service, the global marine port services market is segmented as container handling services, ship repair & maintenance services, navigation services, supply chain & logistics solution services, and mechanical and electrical engineering services. Based on region,Marine Port Services Market  is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Marine Port Services Market Analysis by Service

The container handling services segment had the biggest share in the global marine port services market in 2021, and it is anticipated that to maintain its dominance during the forecast period. The increased global container cargo traffic is to blame for the segment's expansion. However, Asia is predicted to account for the majority of the demand. Over the past few decades, as the global economy has expanded, so has the amount of freight moved by ships. Global cargo shipping reached 1.85 billion metric tonnes in 2020, up from 0.1 billion metric tonnes in 1980. Naturally, the size of the world's container fleet has increased as well. The deadweight tonnage of container ships increased from around 11 million metric tonnes to over 275 million metric tonnes between 1980 and 2020. APM-Maersk, CMA CGM, COSCO, and Hapag-Lloyd are the next largest container ship operators in the world, with a combined capacity of more than four million TEUs.

Due to the expanding marine commerce, it is predicted that the ship repair and maintenance services segment would expand considerably throughout the projection period. Additionally, segmental expansion is anticipated to be fueled by ship recycling. According to “Statistics of India’s Ship Building and Ship Repairing Industry”, in India, in contrast to the 478 ships fixed in 2019–20, 376 ships were repaired in total in 2020–21, of which 235 were repaired by private shipyards and 141 by governmental shipyards. Cochin Shipyard Ltd. has repaired the most ships in the public sector in 2020–21 (97 ships, earning Rs. 395.61 crores), followed by Goa Shipyard Ltd. (31 ships, earning Rs. 154.48 crores), and Hindustan Shipyard Ltd. (6 ships with earnings of Rs 211.74 crore). Chidambaram Shipcare Pvt. Ltd., one of the reporting businesses in the private sector, had the most ships repaired (103 ships with earnings of Rs 8.84 crore). This is expected to boost growth of the segment and further the global marine port services market.

The supply chain and logistics solutions services segment is expected to grow at a notable CAGR during the projected period as a result of the marine industry's shifting trend toward digitization. Beyond the marine industry, digitization would have a significant influence. Given the strategic importance of the shipping sector, digital transformation has the potential to have a significant positive economic impact and support a more robust and long-lasting recovery, especially in low- and middle-income nations. The next phase is to set up a working Port Community System (PCS), which is a platform for streamlining, automating, and managing port and logistics operations through a single data input throughout the transport and logistics supply chain.

Global Marine Port Services Market by Services, 2021 (%), 2021 (%)

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Global Marine Port Services Market Regional Insights

In 2021, Asia Pacific had the greatest share in the global marine port services market, and it is projected that it would maintain its leadership during the forecast period. Its proximity to the busiest ports in the world—China, Singapore, Hong Kong, and South Korea—would stimulate market expansion in the region. For instance, in 2019 The Port of Shanghai replaced its Singaporean equivalent as the largest port in the world, processing a staggering 37.1 million TEUs of cargo. The port will become the busiest container facility in the world in 2020 when the volume of cargo it handles annually surpasses 43.5 million TEUs. Following this, in 2019, the port in Singapore, which is known as the largest center for trans-shipment activities, handled roughly 30.9 million Twenty-Feet Equivalent Units (TEUs). With 600 seaports in more than 100 countries, the Singapore port is the busiest container transhipment facility in the whole world. One of the biggest bunkering facilities in the world is located in Singapore Port.

During the projection period, the market in North America is anticipated to reach and see considerable expansion. The increasing support from the US government for the construction of marine ports is credited with the market expansion. Up to USD 684.3 million in grants for the Port Infrastructure Development Program (PIDP) are now available, according to the U.S. Department of Transportation's Maritime Administration (MARAD). These grants will be given out on a competitive basis to initiatives that increase the reliability, safety, and efficiency of the movement of goods into, out of, around, and within ports. This financing is the highest level ever provided annually for the PIDP and will help strengthen our supply chains, hasten the safe, efficient, and reliable flow of commodities, and eventually strive to lower the cost of goods.

Due to the rising imports of commodities from Asia, the marine port services market in Latin America is anticipated to expand. Additionally, it is anticipated that import-export activity would rise throughout the Middle East and Africa. With total exports to Latin America and the Caribbean of 998 109 029 and total imports of 980 570 085, the region had a positive trade balance of 17 538 943.98 in US dollars. The Most Favored Nation (MFN) Weighted Average Tariff is 9.07 percent, while the Effectively Applied Tariff Weighted Average (customs charge) for Latin America & the Caribbean is 5.13 percent. The current value of the region's GDP in US dollars is 5,786,726,554,928.08. Services exported from Latin America and the Caribbean total 203,465,220,042 in BoP, current US dollars, whereas services import total 247,708,124,537,46 in BoP, current US dollars. Exports of products and services from Latin America and the Caribbean account for 22.60 percent of the region's GDP, while imports make up 23.25 percent.

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Global Marine Port Services Market Dynamics

Marine Port Services Market Driver

  • The marine industry contributes significantly to the growth of the world economy. Global seaborne commerce expansion is predicted to boost the marine port services market growth. Between 2022 and 2026, marine commerce is expected to increase at a slower rate of 2.4% than it did during the previous 20 years, according to UNCTAD. According to UNCTAD's Review of Maritime Transport 2021, which was released on November 18th, the COVID-19 pandemic's impact on marine trade volumes in 2020 was less severe than previously anticipated, but its ripple effects will be extensive and might revolutionize maritime transport. According to the analysis, marine commerce experienced an early shock in 2020 and shrank by 3.8 percent, but it later recovered and is expected to grow by 4.3 percent in 2021. Although there are "growing dangers and uncertainties," the medium-term prognosis for marine commerce is still favorable.
  • In order to save time and money, shorter alternate trade routes are now necessary due to the growing marine traffic. It is anticipated that the adoption of alternative trade routes would boost the building of additional ports next to the new route. The NRF projects that imports would increase by 2.4 percent during the course of the first half of 2022, amounting to an expected total of 13.1 million TEU. The NFR forecasts volume gains averaging between three and more than four percent, or more than 2.2 million TEU each month, for each of the individual months of the second quarter.

Marine Port Services Market Restraint

  • The shipping industry is anticipated to be impacted by the continuing worldwide transformation to a clean, green maritime sector. Growth will be slowed down by the increasing number of rigorous regulations proposed by international marine environmental bodies covering ship recycling, Sulphur emissions, and greenhouse gas emissions.

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Global Marine Port Services Market Competitive Landscape

The global marine port services market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For example, cooperation between CARGOES Finance and DP World, the top global logistics operator, and supplier of intelligent supply chain solutions, was launched. Customers are given access to working capital options from the global trade finance fund by DP World and Challenger Management Limited. Container Finance by DP World is a fintech platform that connects financial institutions with international importers, exporters, and logistics firms in need of funding. Lenders may lend with confidence thanks to CARGOES Finance's access to data on cargo movements.

Top Players in the Global Marine Port Services Market

  • APM Terminals
  • China Merchants Port Holdings Co. Ltd.
  • COSCO SHIPPING Ports Ltd.
  • DP World Limited
  • Eurogate GmbH & Co. KGaA
  • Grup TCB
  • Gulftainer Company Limited
  • Hutchison Port Holdings Limited
  • International Container Terminal Services, Inc.
  • JSC Novorossiysk Commercial Sea Port
  • MSC Mediterranean Shipping Company SA
  • Port of Rotterdam Authority
  • PSA International Pte Ltd.
  • QTerminals
  • Shanghai International Port (Group) Co., Ltd.
  • Tianjin Port (Group) Co., Ltd.
  • Transnet SOC Ltd.
  • Yilport Holding Inc.
  • ZPMC
  • Zululand Multi-Purpose Terminal Pty Ltd.

Recent Developments

  • In July 2022, The Chanrai Group of Companies’ subsidiary Africa FMCG Distribution Ltd (AFMCG) completed the strategic acquisition of a majority share by Imperial, which is controlled by DP World. AFMCG is a multifaceted company that sells goods that every day improve the lives of customers in Africa. In Nigeria, the company provides a best-in-class route-to-market solution via a variety of channels. In the fast-moving consumer goods (FMCG) industry, it also offers co-manufacturing, co-packing, sourcing, and value-added services.
  • In June 2022, to transform the Port of Constanta into one of the most significant cargoes and vehicle hubs on the Black Sea, the Romanian government inked a deal with Dubai's Ports, Customs, and Free Zone Corporation (PCFC) and DP World. The Black Sea port, which has developed into a key entry point for commerce into Eastern Europe, wants to increase cargo vessel traffic and is working to build a new roll-on/roll-off (RO-RO) terminal.

Global Marine Port Services Key Market Trends

  • Ports are gradually using cutting-edge technology across the whole value chain. For instance, technologies like robots, platform solutions, and the Internet of Things (IoT) are utilized to load and unload containers. Storage facilities at ports employ big data analytics and smart metering, while industrial processing uses smart energy management, predictive maintenance, and smart grid technologies. The COVID-19 pandemic has sped up the speed of digital technology adoption in the marine industry.

Global Marine Port Services Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.

According to our global marine port services market analysis, in terms of service, the container handling segment held the largest market share in 2021, due to the increased global container cargo traffic is to blame for the segment's expansion. However, Asia is predicted to account for the majority of the demand. Over the past few decades, as the global economy has expanded, so has the amount of freight moved by ships. And by region, the Asia-Pacific region held the largest share in the global marine port services market due to its proximity to the busiest ports in the world—China, Singapore, Hong Kong, and South Korea—would stimulate market expansion in the region.

Report Metric Details
Market size value in 2021 USD 73.91 billion
Market size value in 2030 USD 117 billion
Growth Rate 4.7%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Service
    • Container Handling Services, Ship Repair & Maintenance Services, Navigation Services, Supply Chain & Logistics Solution Services, Mechanical, Electrical Engineering Services
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • APM Terminals
  • China Merchants Port Holdings Co. Ltd.
  • COSCO SHIPPING Ports Ltd.
  • DP World Limited
  • Eurogate GmbH & Co. KGaA
  • Grup TCB
  • Gulftainer Company Limited
  • Hutchison Port Holdings Limited
  • International Container Terminal Services, Inc.
  • JSC Novorossiysk Commercial Sea Port
  • MSC Mediterranean Shipping Company SA
  • Port of Rotterdam Authority
  • PSA International Pte Ltd.
  • QTerminals
  • Shanghai International Port (Group) Co., Ltd.
  • Tianjin Port (Group) Co., Ltd.
  • Transnet SOC Ltd.
  • Yilport Holding Inc.
  • ZPMC
  • Zululand Multi-Purpose Terminal Pty Ltd.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Marine Port Services Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Marine Port Services Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Marine Port Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Marine Port Services Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Marine Port Services Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Marine Port Services Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Marine Port Services Market size was valued at USD 73.91 billion in 2021 and is poised to grow from USD 77.38 billion in 2022 to USD 117 billion by 2030, growing at a CAGR of 4.7% in the forecast period (2023-2030).

The global marine port services market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For example, cooperation between CARGOES Finance and DP World, the top global logistics operator, and supplier of intelligent supply chain solutions, was launched. Customers are given access to working capital options from the global trade finance fund by DP World and Challenger Management Limited. Container Finance by DP World is a fintech platform that connects financial institutions with international importers, exporters, and logistics firms in need of funding. Lenders may lend with confidence thanks to CARGOES Finance's access to data on cargo movements. 'APM Terminals', 'China Merchants Port Holdings Co. Ltd.', 'COSCO SHIPPING Ports Ltd.', 'DP World Limited', 'Eurogate GmbH & Co. KGaA', 'Grup TCB', 'Gulftainer Company Limited', 'Hutchison Port Holdings Limited', 'International Container Terminal Services, Inc.', 'JSC Novorossiysk Commercial Sea Port', 'MSC Mediterranean Shipping Company SA', 'Port of Rotterdam Authority', 'PSA International Pte Ltd.', 'QTerminals', 'Shanghai International Port (Group) Co., Ltd.', 'Tianjin Port (Group) Co., Ltd.', 'Transnet SOC Ltd.', 'Yilport Holding Inc.', 'ZPMC', 'Zululand Multi-Purpose Terminal Pty Ltd.'

The marine industry contributes significantly to the growth of the world economy. Global seaborne commerce expansion is predicted to boost the marine port services market growth. Between 2022 and 2026, marine commerce is expected to increase at a slower rate of 2.4% than it did during the previous 20 years, according to UNCTAD. According to UNCTAD's Review of Maritime Transport 2021, which was released on November 18th, the COVID-19 pandemic's impact on marine trade volumes in 2020 was less severe than previously anticipated, but its ripple effects will be extensive and might revolutionize maritime transport. According to the analysis, marine commerce experienced an early shock in 2020 and shrank by 3.8 percent, but it later recovered and is expected to grow by 4.3 percent in 2021. Although there are "growing dangers and uncertainties," the medium-term prognosis for marine commerce is still favorable.

Ports are gradually using cutting-edge technology across the whole value chain. For instance, technologies like robots, platform solutions, and the Internet of Things (IoT) are utilized to load and unload containers. Storage facilities at ports employ big data analytics and smart metering, while industrial processing uses smart energy management, predictive maintenance, and smart grid technologies. The COVID-19 pandemic has sped up the speed of digital technology adoption in the marine industry.

In 2021, Asia Pacific had the greatest share in the global marine port services market, and it is projected that it would maintain its leadership during the forecast period. Its proximity to the busiest ports in the world—China, Singapore, Hong Kong, and South Korea—would stimulate market expansion in the region. For instance, in 2019 The Port of Shanghai replaced its Singaporean equivalent as the largest port in the world, processing a staggering 37.1 million TEUs of cargo. The port will become the busiest container facility in the world in 2020 when the volume of cargo it handles annually surpasses 43.5 million TEUs. Following this, in 2019, the port in Singapore, which is known as the largest center for trans-shipment activities, handled roughly 30.9 million Twenty-Feet Equivalent Units (TEUs). With 600 seaports in more than 100 countries, the Singapore port is the busiest container transhipment facility in the whole world. One of the biggest bunkering facilities in the world is located in Singapore Port.

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