The port equipment market is projected to showcase a
compound annual growth rate (CAGR) of 2.0% from 2022 to 2030, expanding from a
value of 18.7 billion USD in 2022 to 20.3 billion USD by 2030. Port equipment
includes a variety of systems that facilitate the loading and unloading of
containers and bulk cargo from ships to shores and vice versa. These systems
include ship-to-shore cranes, empty and laden forklift trucks, rail mounted
gantry (RMG) cranes, rubber-tired gantry (RTG) cranes, straddles, and reach stackers.
Additionally, software and solutions that aid in equipment automation are also
included in the market's scope.
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On the basis of product, the market is categorized into
equipment and software & solutions. Equipment segment is further segmented
into tugboats, cranes, shiploaders, reach stackers, mooring systems, automated
guided vehicles (AGVS), forklift trucks, container lift trucks, terminal
tractors, straddle carriers and others. Among these, shiploaders segment is
anticipated to grow at fastest CAGR during forecast period.
The increasing importance of automated stacking cranes
(ASC) for container handling is driving growth in the Application segment. ASCs
are advanced versions of RMG cranes used for handling yard containers at port
terminals. They are electric and offer a high level of automation with a
maximum lifting capacity of 40-70 tons for container handling applications. The
highest demand for ASCs is for 35-45 tons and is expected to continue in the
near future. Kalmar and Konecranes Abp are the leading suppliers of ASCs in the
On the basis of investment, it is segmented into new
ports and existing ports. Existing ports segment captured leading market share
in 2022. The existing ports segment includes the upgrading and expansion of
existing ports. These ports have already been developed and are in operation,
but they require new equipment and infrastructure to handle the increasing
volume of cargo and ships. This is leading to a greater demand for port
equipment such as cranes, reach stackers, terminal tractors, and other
equipment. Furthermore, the modernization of ports and the adoption of new
technologies are also contributing to the growth of the existing ports segment.
The existing ports segment is expected to continue to
capture a leading market share in the future as well. This is due to the
increasing volume of cargo and ships, which is leading to the need for more
efficient and reliable port equipment. Additionally, the modernization and
expansion of existing ports will continue to drive the growth of this segment.
On the other hand, the new ports segment includes the
construction of new ports. This segment is expected to experience growth as
governments in various regions are investing in the development of new ports to
improve logistics and transportation networks. This investment is also expected
to lead to the adoption of new technologies, which will drive the growth of the
new ports segment.
Based on solutions, the software and solutions segment
is estimated to be the fastest growing market. The advancement of technology
has introduced new methods of controlling ports and terminals, leading to a
shift towards automation in all process flows and operations conducted on
ports. The main use of these software and solutions is as part of the port
automation initiative, which is being widely adopted worldwide. Smart ports,
which deploy cloud-based software to assist in creating operational flows that
help the port function smoothly, are increasingly being adopted globally,
particularly due to government initiatives and the exponential growth of
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According to market projections, the Asia Pacific
region is expected to hold the largest share, 36.7%, of the global port
equipment market in 2023. This region is anticipated to experience significant
growth in the market, with a projected growth rate of 2.8% during the forecast
period. The primary driver behind this growth is the proliferation of sea trade
and the significant investments being made in the development of port
infrastructure in emerging economies within the Asia Pacific region.
As economies in the region continue to grow, the demand
for efficient and reliable port equipment is also increasing. This is leading
to a greater need for port equipment such as cranes, reach stackers, terminal
tractors, and other equipment. The increasing number of ships and cargo vessels
also requires the use of specialized equipment to handle and transport goods.
Furthermore, the expansion of ports and the development of new ports in the
region are also contributing to the growth of the port equipment market.
The government in this region is also investing heavily
in the development of port infrastructure. This is being done to improve the
logistics and transportation networks in the region, which will help to boost
trade and commerce. This investment is also expected to lead to the
modernization of ports and the adoption of new technologies, which will further
drive the growth of the port equipment market in the region.
Overall, the Asia Pacific region is poised to be a
major contributor to the growth of the global port equipment market, thanks to
the increasing sea trade and significant investments in port infrastructure
development. This is expected to lead to a robust and thriving market for port
equipment in the region.
The North America port equipment industry is a
significant contributor to the global port equipment market. The region has a
well-developed transportation and logistics infrastructure, which is driving
the growth of the port equipment market. The increasing volume of cargo and
ships in the region is leading to a greater demand for efficient and reliable
In North America, the United States is the largest
market for port equipment. The U.S. government has also been investing in the
modernization of ports and the development of new ports, which is further
driving the growth of the port equipment market in the country. Canada and
Mexico are also a significant market for port equipment in North America. The
Canadian and Mexican government has also been investing in the modernization of
ports and the development of new ports, which is further driving the growth of
the port equipment market in the country.
The global port equipment market is competitive
with leading players accounting for larger market shares. Some of companies
profiled in report include ABB, American Crane & Equipment, Anhui Heli Co.,
Ltd., Baltkran, Bedeschi S.p.A., Bruks Siwertell Group, Cavotec SA, CVS
Ferrari, Damen Shipyards Group, Hoist Material Handling, Inc., Hyster-Yale
Materials Handling, Inc., Kalmar, Konecranes Oyj, Kooiman Marine Group, Liebherr Group, Lonking Holdings Limited, Navis,
Prosertek Group S.L, Sany Heavy
Industry Co., Ltd., Shanghai Zhenhua
Heavy Industries (ZPMC), Siemens
AG, Thyssenkrupp Industries, Timars Svets & Smide AB, TMEIC,
and Yardeye GmbH.