The marine cargo handling industry plays a vital role in the transfer of goods between the seller and buyer. However, more than 90% of the international trade being directed by sea. Cargo ships are types of ships or vessels that carry cargo, material, and goods from one place to the other. Various types of ships such as bulk container ships, rely primarily on shore-side cargo handling equipment to discharge or load their cargo. Marine cargo handling ships or containers are used to import or export various goods in inland waterways or oceans through national or international borders, wherein handling is carried out by the government or private port companies.
Containers are the most preferred transported method of cargo form across globe, as they are transported by land, air, and water transportation systems. The cargo handling of the containers on ships becomes very dangerous, as they are exposed to strong wind and harsh weather in the sea. However, higher competition among marine cargo handling companies is estimated to put a downward pressure on prices. This is a major restraint for the expansion of the marine cargo handling market. Increasing demand for goods fuels the export and import of various goods internationally, via sea, land, or air. Transportation of goods internationally via ships is most economical, which in turn boosts the marine cargo handling market.
In terms of type of cargo, the marine cargo handling market can be segmented into bulk, containerized, and break-bulk. Bulk cargo vessels range from 50,000 to 150,000 DWT, and are considered to be one of the bigger vessels. These vessels included ore carriers, bulk carriers, combination carriers, and timber carriers for dry bulk, oil, and ore. Break-bulk general cargo ships are self-sustaining in cargo handling, i.e. they do not require on-shore handling equipment.
In terms of cargo equipment, the marine cargo handling market can be segmented into container handling crane, stackers-reclaimer, ship loader, ship unloader, forklift, specially designed truck, and passenger gangway. The container handling crane is specially designed crane to load and discharge containers from ships and to the ships.
The global marine cargo handling market is anticipated to expand significantly due to increasing marine traffic. Emerging nations such as India, China, Brazil, and Russia are investing in new marine port construction. However, cargo operators are capitalizing on advanced technology equipment to reduce loading and discharging time and improve its operating efficiency. This is likely to boost the marine cargo handling market. However, stringent fuel consumption and emission regulations in the U.S. and Europe are replacing with hybrid and electric equipment by diesel-based equipment. This is also likely to fuel the marine cargo industries. Additionally, rising burden from increasing traffic at marine ports is expected to raise the demand for cargo handling equipment. High initial investment is required in order to install advanced cargo handling equipment, which is limiting the growth of hybrid and electric equipment, particularly in Asia Pacific. This may act as a restraint for the expansion of the marine cargo handling market.
In terms of geography, the global marine cargo handling market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is a key player in the global marine cargo handling industry. Asia Pacific is estimated to continue its dominance in the global marine cargo handling market due to the anticipated expansion of the end-use industries. Asia Pacific is followed by Europe and North America, in terms of market share. Ports on the east west and gulf coasts of the US contain public facilities governed by port authorities and private-held terminals. The west coast trade has accounted for more than 50% of the total container of water-borne trade in the U.S.
Key players operating in the global marine cargo handling market include NEW LIGHT CARGO SYSTEM LLC, Holt Cargo Systems Inc., Cargo Express Inc., Shell Global, Blue Water Group LTD, and OCEANAIR CARGO INC.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.