Industry Background:
Port equipment offers fast and efficient transfer of cargo between ships and land-based modes of transport in the area of ports across the globe. The growing demand for higher capacity engines in various regions including Europe, Asia-Pacific and the Middle East due to increased container throughput. According to the United Nations Conference on Trade and Development, Maritime transport is the backbone of international trade and the global economy. Around 80 per cent of global trade by volume and over 70 per cent of global trade by value are carried by sea and are handled by ports worldwide.According to AMA, the market for Port Equipment is expected to register a CAGR of 3.9% during the forecast period to 2025. This growth is primarily driven by The increase in cargo transportation and the need for automation to handle increased cargo volumes and Increased Use of Sensors in Ships and Ports.
Globally, a noticeable market trend is evident Manufacturers are developing reliable and efficient port equipment
. Major Manufacturers, such as Liebherr (Switzerland), TTS (Norway), Kalmar (Finland), Konecranes (Finland), Sany (China), Shanghai Zhenhua Heavy Industries (ZPMC) (China), Hyster (United States), Lonking (China), CVS Ferrari (Italy), Anhui Heli (China) and Famur Famak (Poland) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- The increase in cargo transportation and the need for automation to handle increased cargo volumes
- Increased Use of Sensors in Ships and Ports
Market Trend
- Manufacturers are developing reliable and efficient port equipment
- Automation of Stacking Operations at Ports
- Adoption of Automated Port Management
Restraints
- Lack of proper port infrastructure in underdeveloped nations
Opportunities
Rising seaborne trade across the globe and increasing container shipment in Asia-Pacific and the Middle East and Increasing deployment of mobile harbour crane for fast, efficient and versatile material handling
Challenges
Rising protectionism and potential trade wars across the globe
AdvanceMarketAnalytics follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization of the Report:
AMA Research & Media features not only specific market forecasts, but also include significant value-added commentary on:
Market Trends
Technological Trends and Innovations
Regulatory Trends & Policies
Market Maturity Indicators
Market Share Movements
Growth Drivers and Constraints
New Entrants into the Market & Entry/Exit Barriers
Consumer Demographics
Supporting Company Financial and Cash Flow Planning
Open Up New Markets
To Seize Powerful Market Opportunities
Key Decision in Planning and to Further Expand Market Share
Identify Key Business Segments, Market Proposition & Gap Analysis