USD 17.9 Billion
Global Port Equipment Market Size, Share, Growth Analysis, By Equipment Type(Tugboats, Cranes), By Product Type(Electric, Hybrid), By Application(Container Handling, Ship Handling) - Industry Forecast 2024-2031
Report ID:
SQMIG20Y2008 |
Region:
Global |
Published Date: April, 2024
Pages:
204
|
Tables:
100 |
Figures:
71
Global Port Equipment Market Insights
Global Port Equipment Market size was valued at USD 17.9 Billion in 2022 and is poised to grow from USD 18.31 Billion in 2023 to USD 21.97 Billion by 2031, growing at a CAGR of 2.30% in the forecast period (2024-2031).
The performance of the global economy and international trade directly affects the demand for port equipment. Economic growth, especially in emerging markets, leads to increased employment, leading to the expansion and modernization of port infrastructure, which in turn increases the demand for port equipment. Technological innovations such as automation, power generation, IoT (Internet of Things), and AI (Artificial Intelligence) are transforming the port industry. Equipment manufacturers are developing comprehensive solutions to increase performance, productivity, safety and environmental sustainability in ports. These innovations are driving market growth as port operators seek to modernize their facilities and improve operational efficiencies. Stringent environmental regulations aimed at reducing emissions and improving air quality influence the adoption of non-environmentally friendly port equipment. Ports around the world are increasingly investing in low-emission electricity-powered machinery, such as electric cranes, hybrid terminal tractors and offshore energy systems to meet environmental standards species. This shift towards sustainable practices provides opportunities for specialists in green port equipment.
Market snapshot - (2024-2031)
Global Market Size
Largest Segment
Tugboats
Fastest Growth
Reach Stackers
Growth Rate
2.30% CAGR
Global Port Equipment Market ($ Bn)
Country Share for North America Region (%)
Global Port Equipment Market By Equipment Type ($ Bn)
Global Port Equipment Market By Equipment Type (%)
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Global Port Equipment Market Segmental Analysis
Based on equipment type, the market is divided into tugboats, cranes, mooring systems, ship loaders, reach stackers, automated guided vehicles, forklift trucks, container lift trucks, terminal tractors, straddle carriers, and others. Based on the product type, the market is divided into electric, hybrid, and diesel. Based on application, the market is segmented into container handling, ship handling, bulk handling, and others, including scrap handling & passenger handling. By region, the study gives market insights into the North America, Europe, Asia-Pacific and the Rest of the World.
Analysis by Equipment Type
The tugboats section dominates the marketplace. Port operations closely rely upon bodily equipment, consisting of cranes, container handlers, and forklifts, for the green movement of shipment. While software and answers play an essential function in optimizing and dealing with port operations, tangible gadget bureaucracy is the spine of cargo managing, making it the dominant section in the port coping with system marketplace. Additionally, the funding and upkeep costs related to the body system are a large part of the port's price range, similarly emphasizing the prominence of this section.
Reach stackers is the fastest growing segment which plays a key role in the port equipment market, providing versatile solutions for handling and loading docks in docks and intramural facilities. This specialty vehicle is designed to lift, move and stack containers accurately and efficiently. To maintain efficiency and maximize space in container yards, reach stackers offer many advantages over the use of traditional machines, e.g forklifts and cranes, including high flexibility, high stacking heights, fast cycle times and consequently, full utilization in port operations, including vessels a loading and unloading, a storage system for containers and facilitates the movement of goods between modes of transport.
Analysis by Application
Crane equipment is the dominating segment which gains a significant share in the global port equipment market by seeking to reduce costs per unit. The crane allows port operators to handle a wide variety of vessels. Port operators are replacing old cranes with new ones to reduce noise and carbon emissions. For example, in March 2015, the Port of Oslo installed 3 cranes with LED lights to improve efficiency and coordinate turnarounds. In addition, the ongoing port expansion project to accommodate more vessels will increase the project's size.
Carriers segment is the fastest growing segment, and which show significant improvements to the extent that it can adjust to bulk shipments at higher transfer rates. Many ports around the world are installing mobile container vessels to improve efficiency. For example, in June 2018, ELB Engineering Services Ltd won a contract from Transnet Port Terminals to design, install and ship two mobile loaders at its Saldanha Terminal.
Global Port Equipment Market By Equipment Type (%), 2022 (%)
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Global Port Equipment Market Regional Insights
The North America region dominated the global port equipment market due to the extensive port infrastructure along the coasts of this market. These ports handle a large portion of global trade, requiring significant investments in modern port equipment to meet the demand for larger vessels and increase volumes. Furthermore, emphasis on technological innovation and automation in North American port operations helps to dominate the global port equipment market.
The Asia-Pacific region in the global port equipment market is expected to grow at the fastest CAGR from 2024 to 2031. This is due to strong economic growth, increased international trade, and ports for shipping larger and handle increasing volumes. Due to the need to expand and modernize the system. Moreover, China had the largest market share in the port equipment market, and the port equipment market was the fastest growing market in Asia Pacific.
Global Port Equipment Market By Geography, (2024-2031)
- Largest
- Fastest
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Global Port Equipment Market Dynamics
Drivers
Technological Advances
- Self-consumption, electrification and digital inclusion in trade, security and stability in trade as well as sustainable improvement in trade infrastructure, to facilitate the production of profitable products great, has enhanced the demand for modern port equipment solutions.
Rise in the Trade Expansion
- The steady growth in international trade, especially in emerging economies, is a major factor driving the global port equipment market. Growing trade volume, cargo shipping higher volumes, expanding shipping lanes require investment in port infrastructure and equipment to better manage volumes and speeds supply chain operations.
Restraints
High Initial Investment Cost
- The cost of acquiring and operating advanced port equipment represents a major barrier to market growth. Port operators often face budget constraints and financial constraints, limiting their ability to invest in new technologies and upgrading existing facilities, hindering market expansion.
Geopolitical Uncertainty
- Geopolitical disputes, trade disputes and regulatory uncertainties challenge the global port equipment market with volatility and unpredictability to the global trade flow may cause changes in demand for port equipment, investment delays and supply disruptions, changing market dynamics are likely to adversely affect it.
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Global Port Equipment Market Competitive Landscape
Leading market players are investing heavily in research and development to expand their product portfolio, which will help further the growth of the port equipment market. Leading players also develop a variety of strategies for their global broadcasts, where contractual relationships, redesigns, spin-offs and acquisitions, high-profile investments and collaborations with other organizations are undertaken.
Top Player’s Company Profiles
- Liebherr (Switzerland)
- TTS (Norway)
- Kalmar (Finland)
- Konecranes (Finland)
- Sany (China)
- Shanghai Zhenhua Heavy Industries (ZPMC) (China)
- Hyster (US)
- Lonking (China)
- CVS Ferrari (Italy)
- Anhui Heli (China)
- Famur Famak (Poland)
- Mitsubishi Logisnext Co., Ltd.
- Gaussin Group
- Sany Heavy Industry Co Ltd (SHI)
- Cargotec Corporation
Recent Developments
- In May 2023, Cargotech acquired McGregor, a provider of marine logistics and marine logistics products and services. The acquisition is expected to expand Cargotec’s product portfolio and strengthen its presence in the market.
- In January 2023, Konecranes announced the acquisition of Morris Material Handling, a manufacturer of dock cranes and other material handling equipment in North America. The acquisition is expected to strengthen Konecranes’ position in the North American port equipment market and expand its product portfolio.
- In November 2022, ZPMC announced the acquisition of the Liebherr Mobile Crane Division, a manufacturer of mobile cranes and other equipment for handling applications. The acquisition is expected to expand ZPMC’s product portfolio and leverage Liebherr’s expertise in mobile crane technology.
Global Port Equipment Key Market Trends
- Increasing Global Trade and Container Transportation: The global port equipment market is driven by the growing global trade and container shipments. The integration of global trade has dramatically increased the volume of goods passing through ports around the world. Containers that facilitate the movement of goods between modes (ships, trucks, trains) have become the dominant form of shipping and, as a result, are consumed by ports handling large volumes of cargo, thus requiring more efficient and advanced equipment to handle the increased demand. Port operators and shipping companies are continuously driven to improve efficiency and effectiveness. This includes reducing fleet turnaround time and reducing handling delays.
Global Port Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global port equipment market is growing due to the expansion of ports, increasing volume of trade and the need to modernize and expand facilities to enable larger vessels to navigate the larger ships to increase exports. But challenges such as capital costs, operational issues between different equipment, geopolitical pressures pose significant hindrances to market growth. Despite these challenges, the market witness's noteworthy growth such as automation and adopting electrification technologies, integrating IoT and AI for predictive maintenance.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 17.9 Billion |
| Market size value in 2031 | USD 21.97 Billion |
| Growth Rate | 2.30% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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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 Port Equipment 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
- Exhibit: Impact analysis of DROC, 2021
- 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 Port Equipment 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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Competitive rivalry
- 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(%)
- Total number of companies covered
Methodology
For the Global Port Equipment 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 Port Equipment 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 Port Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Port Equipment 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.
Global Port Equipment Market Report Snapshots
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