Port Equipment Market expanding from a value of 20.3 billion USD in 2030

 

The port equipment market is projected to showcase a compound annual growth rate (CAGR) of 2.0% from 2022 to 2030, expanding from a value of 18.7 billion USD in 2022 to 20.3 billion USD by 2030. 

Numerous mechanisms are included in port equipment that make it easier to load and unload containers and bulk cargo from ships to coasts and vice versa. Ship-to-shore cranes, empty and loaded forklift trucks, rail mounted gantry cranes, rubber-tired gantry cranes, straddles, and reach stackers are a few of these systems. The market's scope also includes tools and services that facilitate equipment automation.

 

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SEGMENTATION ANALYSIS

The market is divided into two categories based on product: equipment and software & solutions. Tugboats, cranes, shiploaders, reach stackers, mooring systems, automated guided vehicles (AGVS), forklift trucks, container lift trucks, terminal tractors, straddle carriers, and other items are included in the equipment segment's further subcategories. The category for shiploaders is predicted to experience the fastest CAGR growth throughout the projection period.

Growth in the Application segment is being driven by automated stacking cranes' (ASC) growing significance for container handling. ASCs are modernized RMG cranes used at port terminals to handle yard containers. Their greatest lifting capability for container handling applications is 40–70 tonnes, and they are electric and highly automated. The 35–45 tonne range now has the strongest demand for ASCs, and this trend is anticipated to remain for some time. On the international market, the top two manufacturers of ASCs are Kalmar and Konecranes Abp.

 

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On the other side, the sector for new ports also covers port expansion. As governments in various regions invest in the construction of new ports to enhance logistics and transportation networks, this market is anticipated to expand. The adoption of new technologies as a result of this investment is also anticipated to fuel the expansion of the new ports market.

REGIONAL ANALYSIS

According to market projections, the Asia Pacific region is expected to hold the largest share, 36.7%, of the global port equipment market in 2023. This region is anticipated to experience significant growth in the market, with a projected growth rate of 2.8% during the forecast period. The primary driver behind this growth is the proliferation of sea trade and the significant investments being made in the development of port infrastructure in emerging economies within the Asia Pacific region.

COMPANIES COVERAGE

The global port equipment market is competitive with leading players accounting for larger market shares. Some of companies profiled in report include ABB, American Crane & Equipment, Anhui Heli Co., Ltd., Baltkran, Bedeschi S.p.A., Bruks Siwertell Group, Cavotec SA, CVS Ferrari, Damen Shipyards Group, Hoist Material Handling, Inc., Hyster-Yale Materials Handling, Inc.,  Kalmar,  Konecranes Oyj,  Kooiman Marine Group,  Liebherr Group,  Lonking Holdings Limited,  Navis,  Prosertek Group S.L,  Sany Heavy Industry Co., Ltd.,  Shanghai Zhenhua Heavy Industries (ZPMC),  Siemens AG,  Thyssenkrupp Industries,  Timars Svets & Smide AB,  TMEIC,  and Yardeye GmbH.

 

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