Global Port Equipment Market: Snapshot
The drive for flexibility is the key aspect of technological advances in port equipment market. Flexibility here mainly relate to the transfer of cargo from ship to shores, and from shores to other modes of transport. Growing demand for ship-to-shore solutions that are tailored to meet the needs of various ports has been a vital proposition for players in the port equipment market. Few of the port operations that original equipment manufacturers take into account are container handling, stacking, bulk handling, scrap handling, and a number of general cargo operations. Over the past few years, manufacturers are increasingly focusing on precision and speed at which port equipment operates to fulfil the various applications of ports.
Top players are aiming at versatile product portfolio to meet a large cross-section of the demands in the shipping logistics industry. Container handling is one of the key focus areas for them. Another key area is port equipment for bulk handling. Manufacturers are integrating new actuation technologies that can improve the reliability and performance of such port equipment, thereby catering to the demands of large sea ports and inland ports. A case in point is advances in crane technologies. Manufacturers are also focusing on improving the service life of the port equipment.
Port equipment includes all those equipment which are used to handle various kinds of material including cargo and machinery at the port. Port equipment includes reach stackers, tractors, goosenecks, forklift trucks, trailers, and ship-to-shore cranes. These equipment are crucial for the functioning of any port. This is due to the fact that the efficiency of the port equipment determines the capacity of material a port can handle and also which ports receive larger amounts of cargo. The busier ports are expected to have equipment with the latest technology to enable optimum load management. Port equipment is crucial in the overall trade and distribution network of goods and services due to ports being the connecting point between land and sea trade.
Increasing trade activity and easing regulations are expected to be among the key drivers of the global port equipment market. Demand for port equipment is forecasted to rise as newer markets open their shores for trade. Additionally, as governments look for higher trade revenues and better international trade relations, they are expected to ease the regulatory environment. The opening of waterways and establishment of new ports such as the the one at Chabahar in Iran, present opportunities for players in the global port equipment market. Hitherto unexplored and closed economies for instance Iran, are emerging as potential markets for port equipment. Moreover, as regional demand for port shipments rise, demand for the products of the global port equipment market are on the rise. Rising seaborne trade is another factor contributing to the growth of the global port equipment market. Furthermore, as disposable incomes across the world increases, demand for goods rises, which in turn propels the amount of on-gate arrival of goods at ports. This has a positive impact on the demand for the products of the global port equipment market. Additionally, the importance of the global port equipment market is set to rise, with greater impact of globalization being felt across the world, and internationalization of production activity.
The use of traditional fuels has had an adverse impact on the environment, compounded by the fact that trade across countries is only increasing by the day. This is expected to restrain the global port equipment market in the long run. Optional lithium ion batteries are being provided by manufacturers in their machines to enable cleaner functioning.
Reduction in carbon footprint and use of automated equipment are key opportunities for manufacturers of the global port equipment market. The use of better technology is projected to enable handling of larger volumes of goods and reduction in equipment and labor cost for manufacturers.
The global port equipment market can be segmented on the basis of product type, application, and region. Overhead cranes, ship loaders, mooring systems, ship-to-shore cranes, forklifts, horizontal and vertical outreach cranes, and gantry cranes are some of the product types of port equipment. There are many more depending on use. Based on application, port equipment are segmented into harbor use, stacking, container handling, bulk & ship handling, and others. Regional segmentation of the global port equipment market is North America, Europe, Asia Pacific, Middle East & Africa, and South America.
SANY GROUP, Liebherr, Elecon Engineering Company Limited, SEAPOL, Anupam Industries Limited, thyssenkrupp Industries India Pvt. Ltd., Konecranes, Terex MHPS GmbH, Demag Cranes & Components GmbH, and TTS Group ASA are some of the manufacturers in the global port equipment market. Lithium ion-operated forklifts are being introduced by companies such as JLG to enable cleaner functioning. Anupam Industries is investing in the training and development of its staff to enable them to have access to the latest technical knowledge. Additionally the company, like most of its peers, is training its staff to provide effective customer service and product support.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.