Global Port Equipment Market Trends, Application, And Regional Forecast To 2027
Posted by Karthik Pilla on November 4th, 2022
Bharat Book Bureau Provides the Trending Market Research Report on “Port Equipment Market by Solutions (Equipment, Software & Solutions), Investment (New Ports, Existing Ports), Application, Type (Diesel, Electric, Hybrid), Operation (Conventional, Autonomous) and Region - Global Forecast to 2027” under the Defence Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
The Port Equipment Market is projected to grow from USD 18.2 billion in 2022 to USD 20.0 billion by 2027, at a CAGR of 1.9%.
Port equipment comprises different systems that support loading and unloading containers and bulk cargo from ships to shores, shores to warehouses, and vice versa. Equipment such as ship-to-shore cranes, empty and laden forklift trucks, rail mounted gantry (RMG) cranes, rubber tired gantry (RTG) cranes, straddles, and reach stackers are used to transport containers, cargos, and other heavy lift items over short distances along the ports. Software & solutions that aid in equipment automation is also part of the current study. Port equipment automation can be defined as the use of integrated technology to develop intelligent solutions for efficient control of traffic and trade flows, thereby increasing port capacity and efficiency.
The importance of automated stacking cranes (ASC) for container handling is driving the Application segment
The automated stacking cranes (ASC) are updated versions of RMG cranes used for handling yard containers at the port terminals. Automated stacking cranes are electric and offer a high automation level with a maximum lifting capacity of 40-70 tons for container handling applications. There is high demand for 35-45 tons, and the trend is expected to continue in the near future. Kalmar and Konecranes Abp are the leading suppliers of automated stacking cranes in the global market.
With the rising demand for automation levels at the port terminals to increase the container throughput, the ASC has become an important piece of equipment for container handling applications. Europe, Middle East & Africa has the highest demand for automated stacking cranes. European countries, in particular, have a high demand owing to the high adoption rate of automated technologies. Thus, the rising demand for automation that provides automatic pick, drop, and stacking of containers and offers reliable operation would drive the demand for automated stacking cranes in the coming years.
Based on solutions, software & solutions segment is estimated to be the fastest growing market
The advancement of technology has introduced new and better methods of controlling ports and terminals. The gradual shift toward implementing automation in all the process flows and operations conducted on ports has led to significant changes in maritime trade. The main use of these software & solutions is a part of the port automation initiative, which is being widely adopted worldwide.
Port automation can be defined as the use of integrated technology to develop intelligent solutions for efficient control of traffic and trade flows, thereby increasing port capacity and efficiency. Smart ports (or automated ports) generally deploy cloud-based software to assist in creating the operational flows that help the port function smoothly. Currently, most ports globally have technology integrated to some extent for efficient management. However, there has been a gradual increase in smart ports, owing to government initiatives and the exponential growth of maritime trade.
Key Market Players
The Port equipment market is dominated by a few globally established players such as Kalmar (Finland), Liebherr Group (Switzerland), Konecranes Abp (Finland), Sany Heavy Industry Co., Ltd. (China), and Shanghai Zhenhua Heavy Industries (ZPMC) (China) among others.
This market study covers Port equipment market across various segments and subsegments. It aims at estimating the size and growth potential of this market across different segments based on solutions, application, investment, type, operation and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Port equipment market. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
•Market Penetration: Comprehensive information on Port equipment offered by the top players in the market
•Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the Port equipment market
•Market Development: Comprehensive information about lucrative markets – the report analyses the Port equipment market across varied regions
•Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the Port equipment market
•Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and service providing capabilities of leading players in the Port equipment market.
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