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Port Equipment Market Size (2024 - 2029)

The port equipment market is projected to experience growth driven by increasing global trade relations, with marine trade gaining prominence due to its cost-effective transport advantages. The market size is expected to expand, particularly in the Asia-Pacific region, despite previous slowdowns caused by trade tensions between major economies. Recent agreements between these nations have alleviated some economic pressures, suggesting a positive trajectory for marine trade and, consequently, the port equipment market.

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Market Size of Port Equipment Industry

Port Equipment Market
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Port Equipment Market Size

*Disclaimer: Major Players sorted in no particular order

Port Equipment Market Analysis

The port equipment market is anticipated to register a CAGR of about 4%, during the forecast period (2020 - 2025).

  • Some of the major factors driving the growth of the market are growing trade relations between countries. Primary factor for all trade is the mode of transport and distance. Cost effective transport enhances trade activities with lesser time, low traffic and congestion along with the ability to manage more cargo. With this advantage over other modes, marine trade activities are gaining popularity on a global scale.
  • Asia-Pacific is expected to witness a high growth rate during the forecast period.
    But because of the trade tensions between US and China, the years 2018 and 2019 showed some signs of slowdown in the marine trade activities which have further led to reduced import-export activities. Recent agreements between the two nations have shown some signs of relief for the world economy and trade is expected to be on a growing track. This deal will ease the tension between the two major economies of the world and the growth for the marine trade is expected to rise again.

Port Equipment Industry Segmentation

The port equipment market covers the latest trends and technological development in the port equipment market, demand of the by Equipment Type (Cranes, Trucks, Reach Stackers, Forklifts, and others), Application (Container handling, ship handling), fuel type (Diesel, Electric, Hybrid) and Geography.

Equipment Type
Cranes
Trucks
Reach Stackers
Forklifts
Others
Application
Container Handling
Ship Handling
Fuel Type
Diesel
Electric
Hybrid
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
Mexico
United Arab Emirates
Other Countries
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Port Equipment Market Size Summary

The port equipment market is poised for steady growth, driven by the increasing importance of marine trade as a cost-effective mode of transport. This growth is largely attributed to the expanding trade relations between countries, which enhance trade activities by reducing transportation time and managing larger cargo volumes. The Asia-Pacific region is expected to experience significant growth, despite previous trade tensions between the US and China that temporarily slowed marine trade activities. Recent agreements between these two major economies are anticipated to alleviate tensions and stimulate growth in marine trade, thereby boosting demand for port equipment.

In India, substantial investments have been made to upgrade major ports, supported by government initiatives aimed at enhancing port efficiency and capacity. The region's dominance in global maritime trade, with a significant portion of trade by volume conducted via marine routes, underscores the demand for advanced port infrastructure. This demand is further fueled by projects like India's Unnati, which focuses on improving port operations. The market is characterized by a concentration of key players such as Kalmar, Sany, and Kone Cranes, who are investing in innovative technologies to enhance handling capacities and reduce carbon footprints. These developments are expected to drive the port equipment market's growth during the forecast period.

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Port Equipment Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porters Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Equipment Type

      1. 2.1.1 Cranes

      2. 2.1.2 Trucks

      3. 2.1.3 Reach Stackers

      4. 2.1.4 Forklifts

      5. 2.1.5 Others

    2. 2.2 Application

      1. 2.2.1 Container Handling

      2. 2.2.2 Ship Handling

    3. 2.3 Fuel Type

      1. 2.3.1 Diesel

      2. 2.3.2 Electric

      3. 2.3.3 Hybrid

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Rest of North America

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Rest of Europe

      3. 2.4.3 Asia Pacific

        1. 2.4.3.1 India

        2. 2.4.3.2 China

        3. 2.4.3.3 Japan

        4. 2.4.3.4 South Korea

        5. 2.4.3.5 Rest of Asia-Pacific

      4. 2.4.4 Rest of the World

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Mexico

        3. 2.4.4.3 United Arab Emirates

        4. 2.4.4.4 Other Countries

Port Equipment Market Size FAQs

The Port Equipment Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Liebherr Group, Sany Heavy Industry Co. Ltd, KoneCranesOyj, CVS Ferrari and Kalmar are the major companies operating in the Port Equipment Market.

Port Equipment Market Report Snapshots

Port Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)