What is Marine Port and Service Market?
The market for marine ports and services provides amenities for safety and security, infrastructure improvement, and services such as vessel traffic service, emergency services, and vessel reservations and cancellations. Additionally, reliable and secure transit of freight and passenger vessels is provided by marine ports and services. It offers prompt solutions to issues relating to safety and the environment that are connected to maritime vessels of various classes, including those carrying liquid cargo, dry bulk cargo, and tourist or passenger ships. Ports are an essential component of the world's transportation sector and support the expansion of the global economy. An important factor in the growth of the marine port services business is the rising seaborne trade and the expanding construction of port infrastructure.
Highlights from Marine Port and Service Market Study
|Unit||Value (USD Million)|
|Key Companies Profiled||A.P. Moller - Maersk (Denmark), DP World Limited (The UAE), Hamburger Hafen Und Logistik AG (Germany), Hutchison Whampoa Limited (Hong Kong), Montreal Port Authority (Canada), Ningbo Zhoushan Port Company Limited (China), Shanghai International Port Co. Ltd. (China), Tianjin Port Development Holdings Ltd. (China), International Container Terminal Services Inc. (Philippines) and Shipping Solutions and Services Ltd. (United States)|
Global marine port and services is a fragmented market due to the presence of various players. The players are focusing on investing more in technology integration in their systems for better performance. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. A.P. Moller - Maersk (Denmark), DP World Limited (The UAE), Hamburger Hafen Und Logistik AG (Germany), Hutchison Whampoa Limited (Hong Kong), Montreal Port Authority (Canada), Ningbo Zhoushan Port Company Limited (China), Shanghai International Port Co. Ltd. (China), Tianjin Port Development Holdings Ltd. (China), International Container Terminal Services Inc. (Philippines) and Shipping Solutions and Services Ltd. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are CarboShield Inc. (United States), TomWorks LLC (United States), Comet Industries (United States), Port Authority of Jamaica (Jamaica) and Jacksonville Port Authority (United States).
Marine Port and Service Market Segmentation:
|Service||Ship repair and maintenance services,Container Handling Services,Supply Chain and Logistics Solutions,Mechanical and Electrical Engineering Services,Navigation Services|
On the basis of geography, the market of Marine Port and Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Rising Adoption of Innovative Technologies, Surging Demand of Containerized and Bulk Cargo, Self-Unloading Bulk and Carrier Technology and Privatization of Marine Port
Market Growth Drivers:
Increasing Demand for Maritime Trade and Worldwide Import and Export of Goods through E-commerce Platform
Rising Fuel Price
Continuous Global Transformation to a Clean and Green Maritime Sector, Decreased production and consumption during pandemic and Abruption in Maritime trade Due to Russia Invasion in Ukraine
Expansion of New Ports across Various Regions and Integration of Big Data Analytics and Smart Metering Technologies in Storage Facilities at Ports
Key Target Audience
Marine Port and Services Providers, Industrial Sector, Manufacturing sector, Regulatory Bodies, Potential Investors and Others
Market Leaders & Development Strategies
In May 2021, a contract was struck by Hutchison Ports Netherlands B.V., a division of Hutchison Ports, and APM Terminals to buy the Rotterdam container terminal known as APM Terminals Rotterdam (APMTR).
In June 2022, For the Jeddah Logistics Park, DP World and the Saudi Ports Authority announce a major new collaboration. A state-of-the-art, port-centric Logistics Park will be constructed at the Jeddah Islamic Port under the terms of a 30-year agreement with an investment value of more than USD 133.33 million. A logistics park with a total area of 415,000 square meters, a capacity of about 250,000 TEU for in-land container depots, and 100,000 square meters for warehousing storage are intended to be established as a result of the deal. The storage area could be expanded in the future to 200,000 square meters.