Market Size of Global Marine Port Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Marine Port Services Market Analysis
The Global Marine Port Service Market is anticipated to register a CAGR of greater than 5% during the forecast period.
The global supply chain in the maritime industry has been facing a series of challenges since the start of the COVID-19 pandemic in early 2020. Port closures due to coronavirus outbreaks, port congestions, rising prices of bunker fuel, and problems with capacity utilization were plaguing the global marine port services industry for most of 2020 and 2021.
The demand for marine port services is directly influenced by international trade and economic cycles. The decreased production and consumption during the pandemic has led to a reduction in maritime trades, which, in turn, has reduced port traffic and shipping demand. A decrease in the demand for container transport has reduced activities in container handling ports. Thus, COVID-19 has had a negative impact on the port services market owing to the decreased demand for marine port services.
Accoridng to "The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP)", in Q1 of 2020, the container shipping volume worldwide reduced by 5.1% as compared to the same period in 2019. According to the International Chamber of Shipping (ICS), the revenue losses caused to the shipping industry due to the pandemic were USD 350 million per week. On the other hand, the recent spike in container freight rates turned out extremely profitable for marine port services operators who reported record high profit margins in 2021.
The future of the marine port services market looks promising as the global trade relies heavily on container shipping to move goods around the world which accelerates the marine port service industry. The major drivers of growth for this market are high growth of the marine transportation industry, rising customer demand and expansion of new ports across various regions and surging demand of containerized and bulk cargo.
Some of the emerging trends accelerating the marine port services market are vessel traffic services, marine port privatization, self-unloading bulk and carrier technology. Ports are progressively employing innovations in the entire value chain with a wide range of technologies. For instance, technologies such as the Internet of Things (IoT), robotics, and platform solutions are used for loading & unloading containers.
Big data analytics and smart metering are used for storage facilities at ports, and smart energy management, predictive maintenance & smart grid technology are used for industrial processing. For instance, in 2020, Awake.AI was selected by the Port of Rotterdam for the development of the smart port project. Awake. AI fashioned a smart ship port call management system to test all transformational processes without threatening the port's massive operations.
Marine Port Services Industry Segmentation
Global Port Services are ideally placed to provide clients with an unparalleled solution in marine logistics and port agency services, handling in excess of 800 port call movements. In the UK and overseas, global port services means the company that has an infrastructure that supports the main operational ports as well as having a very strong supply chain team that allows pre-planned or short notice calls to be managed efficiently and effectively utilising a skilled, multi-disciplined workforce. The Global Marine port Services Market is segmented By Service Analysis (container handling services, ship repair and maintenance services, supply chain, Mechanical and electrical engineering services, navigation services and Logistics Solutions) and By Geography (North America, Europe, Asia-Pacific and Latin America , Middle East and Africa). The report offers market size and forecasts for Global Marine Port Services Market in value ( USD Billion ) for all above segments.
| By Service Analysis | |
| Container Handling Services | |
| Ship repair and maintenance services | |
| Supply Chain | |
| Mechanical and Electrical Engineering Services | |
| Navigation Services | |
| Logistics Solutions |
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Global Marine Port Services Market Size Summary
The marine port services market is poised for significant growth, driven by the essential role of maritime shipping in global trade. Despite challenges posed by the COVID-19 pandemic, such as port closures and reduced maritime trade, the industry is recovering and expanding. The demand for marine port services is closely tied to international trade dynamics, with container shipping being a critical component. The market is experiencing a resurgence due to the increasing volume of global seaborne trade, which has been bolstered by globalization and the rapid expansion of developing economies. This growth is further supported by advancements in technology, including IoT, robotics, and smart port solutions, which are enhancing operational efficiencies and capacity at ports worldwide.
The market landscape is characterized by a mix of local and international players, such as DP World Limited, AP Moller Maersk, and Shanghai International Port, who are investing in innovative technologies to create automated and connected supply chains. These developments are expected to drive the demand for marine port services, as the commercial fleet continues to grow. Strategic partnerships and investments, like the one between DP World and the Saudi Ports Authority, are also contributing to the market's expansion by establishing state-of-the-art logistics facilities. As the global economy continues to recover and expand, the marine port services market is anticipated to experience robust growth, supported by the increasing need for efficient and scalable port operations.
Global Marine Port Services Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain / Supply Chain Analysis
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1.5 Porters 5 Force Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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1.6 Insights on Technological Advancements In The Industry
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1.7 Impact Of Covid -19 On The Market
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2. MARKET SEGMENTATION
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2.1 By Service Analysis
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2.1.1 Container Handling Services
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2.1.2 Ship repair and maintenance services
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2.1.3 Supply Chain
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2.1.4 Mechanical and Electrical Engineering Services
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2.1.5 Navigation Services
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2.1.6 Logistics Solutions
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2.2 Geography
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2.2.1 North America
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2.2.1.1 US
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 UK
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2.2.2.3 France
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2.2.2.4 Russia
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia Pacific
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2.2.3.1 India
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2.2.3.2 China
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2.2.3.3 Japan
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2.2.3.4 Australia
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2.2.3.5 Singapore
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2.2.3.6 Malaysia
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2.2.3.7 South Korea
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2.2.3.8 Rest of Asia Pacific
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest Of South America
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2.2.5 Middle East & Africa
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2.2.5.1 UAE
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2.2.5.2 Saudi Arabia
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2.2.5.3 South Africa
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2.2.5.4 Others
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Global Marine Port Services Market Size FAQs
What is the current Global Marine Port Services Market size?
The Global Marine Port Services Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Global Marine Port Services Market?
DP World Limited, AP Moller Maersk, Hamburger Hafen Und Logistik AG, Shanghai International Port and Shipping Solutions and Services Ltd. are the major companies operating in the Global Marine Port Services Market.
