Port Equipment Market Growth, Size, Share, Trends, and Forecast 2032

Port Equipment Market Insights

According to the report published by Zion Market Research, the global Port Equipment Market size was valued at USD 11.00 Billion in 2023 and is predicted to reach USD 17.47 Billion by the end of 2032. The market is expected to grow with a CAGR of 5.40% during the forecast period. The report analyzes the global Port Equipment Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Port Equipment Market industry.

Request Free Sample

Global Port Equipment Market: Overview

Port Equipment comprises of the material handling system, breakbulk & heavy-lift, container shipping, maritime cranes, and power transmission equipment. It helps in propelling the maritime trade through proficient delivery of safe, secured, and sustainable services to the end-users. The fourth industrial revolution is anticipated to propel the growth of port equipment market in the years ahead.

Global Port Equipment Market: Growth Factors

The major factors that are expected to fuel the growth of the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in regions such as the Asia Pacific and the Middle East. Various countries have been focusing on developing new ports, owing to the increase in vessel count and trade volume. With the large chunk of global trade carried out via the sea route, the need for the use of the port equipment, having large carrying capabilities, at sea ports has become a necessity for transporting heavy and bulky goods. 

Furthermore, escalating demand for reliable & proficient port equipment will accelerate the port equipment market trends. In addition, massive demand for mooring systems, Shiploaders, tug goats, forklift trucks, container lifts trucks, automated guided vehicles, terminal tractors, and straddle carriers will further stimulate the growth of port equipment market in the years ahead. The device finds myriad applications in container handling, ship handling, passenger & scrap handling, and bulk handling. This, in turn, will propel the growth of port equipment market in the ensuing years.

Global Port Equipment Market: Segmentation

The global port equipment market can be classified based on equipment type, application, product, and demand.

On the basis of equipment type, the market is sectored into mooring systems, Shiploaders, tug boats, cranes, forklift trucks, reach stackers, automated guided vehicles, straddle carriers, terminal tractors, and others including passenger boarding bridges, linkspan, and hoopers.

On the basis of application, the market is segmented into container handling, ship handling, bulk handling, and others including scrap handling & passenger handling.

Based on the product type, the market is divided into electric, hybrid, and diesel. On the basis of demand, the market is classified into new demand and MRO.

Port Equipment Market: Report Scope

Global Port Equipment Market: Regional Analysis

Based on regions, the global port equipment market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. 

The port equipment market in the Asia Pacific region is expected to witness high growth during the estimated timeline. Port equipment market is slated to be deployed in large numbers in port terminals, thereby providing various application areas of operations. In recent years, the maximum transportation of containers has been noticed in South Korea, China, Singapore, and India. A large number of container port terminals are based in Asia with a maximum of them established in countries such as China, Japan, Malaysia, Indonesia, Singapore, and Thailand. This will further accelerate the market trends in the APAC region.

European countries have a robust economy, and the region is the home to some of the leading manufacturers of port equipment which drives the regional market growth. Konecranes (Finland), Kalmar (Finland), and Liebherr (Switzerland) are the key manufacturers, dealers, distributors of this equipment in the region.

North America, LATAM, and MEA markets have huge growth potential.

Global Port Equipment Market: Competitive Players

The key players in the global port equipment market include:

• ABB
• Cavotec
• Til Limited
• CVS Ferrari
• Timars Svets & Smide Ab
• Shanghai Zhenhua Heavy Industries (ZPMC)
• Liebherr
• Konecranes
• Lonking Holdings Limited
• Prosertek.

The Global Port Equipment Market is segmented as follows:

By equipment type 

• mooring systems
• Shiploaders
• tug boats
• cranes
• forklift trucks
• reach stackers
• automated guided vehicles
• straddle carriers
• terminal tractors
• others including passenger boarding bridges
• linkspan
• hoopers

By application 

• container handling 
• ship handling 
• bulk handling
• others including scrap handling & passenger handling

By product 

• electric
• hybrid
• diesel

By demand 

• new demand 
• MRO 

Global Port Equipment Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • The UK
  • France
  • Germany
• The Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.