A recent report published by
Infinium Global Research on port and terminal operations market provides
in-depth analysis of segments and sub-segments in the global as well as
regional port and terminal operations market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
port and terminal operations market over the short term as well as long term.
The report is a comprehensive presentation of trends, forecast and dollar
values of global port and terminal operations market. According to the report,
the global port and terminal operations market is valued at USD 3418.742 million
in 2021 and is expected to reach USD over 6183.732 million in 2027, growing
with a CAGR of 10.4% over the forecast period of 2021-2027.
Port and Terminal operations are
very complex in nature. Depending upon the nature of shipment and cargo.
Different sets of machinery, terminals, manpower, and expertise are required to
handle different types of cargo. Cargo can be anything from merchandise, cars,
minerals, crude oil, and other types. Even ferry services require a specific
type of port. Thus, port and terminal handling operations need to be efficient
and flawless. Inefficient operability will lead to losses accounting for
billions and wastage of invaluable time. Therefore, ports and terminal
management is at the center of successful seaborne trade. Currently, stevedore
acquires over 50% of all the port and terminal operations around the world
according to porteconomicsmanagement.org.
Growing seaborne trade has been a
leading factor in boosting the port and terminal operations market. As per the
UNCTAD Handbook of statistics 11.076 billion tons of goods were loaded on ports
and 11.083 billion tons of goods were unloaded. Therefore, port and terminal
handling operations played a crucial role in the smooth loading and unloading
of goods. This number is further expected to rise, creating a huge demand in
the market. Increasing public and private investment are further driving the
market. New port development projects are being undertaken around the world.
The investment in new port development both public and private accounts for
over several hundred billion USD. Global port and terminal operators are eyeing
these multibillion-dollar projects. The only restraint the market faces is the
high cost of port and terminal operations. New opportunities are expected to
arise as new technological developments are taking places such as automation,
artificial intelligence, IoT, robotics, and others. In 2021 world’s fully
automated port began operations in China.
Asia-Pacific is expected to hold a
dominant share in the market. North America is expected to hold the second spot
in the market in revenue generation. According to the UNCTAD Handbook of
statistics, 62% of goods were unloaded and 40% of goods were loaded in Asian
seaports. The region is also experiencing growth in investments in new port
development. India alone intends to invest over USD 82 billion in over 400
ports. China, Singapore, Japan, and the Philippines are also focusing on new
port developments and actively incorporating new technology. On the other hand,
North America has a strong presence of port and terminal operating companies.
The report on the global port and
terminal operations market covers segments such as type, and cargo type. On the
basis of type, the sub-markets include cargo transportation and handling, and
stevedore. On the basis of cargo type, the sub-markets include crude oil and
other liquid cargo, and dry cargo.
The report provides profiles of
the companies in the market such as PSA International, Hutchison Port Holdings
Trust, Dubai Ports World (DPW), AP Møller Terminals, International Container
Terminal Services Inc., China Merchants Port Holdings, Terminal Investment
Limited (TIL), Eurogate Container Terminal Ltd., Evergreen Marine
Corporation (EMC), and SSA Marine.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of port and terminal operations market. Moreover, the study highlights
current market trends and provides forecast from 2021-2027. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.