Press release
Port Equipment Market Growth, Analysis, Latest Trends and Forecast till 2027
The report on the Port Equipment Market provides a detailed trend analysis from 2018 to 2027. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.The Port Equipment Market is estimated to be USD 18.2 billion in 2022 and is projected to reach USD 20.0 billion by 2027, at a CAGR of 1.9% from 2022 to 2027. The market is driven by factors such as rise in global focus on building more ports to handle the increasing sea trade, upgrading the existing port equipment in the existing ports, adoption of smart ports among many others.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=184119530
Based on equipment, RTG cranes segment is projected to lead the market during the forecast period.
RTG cranes are yard container cranes available in diesel, hybrid, and electric variants for intermodal and cargo handling applications. RTG cranes can stack a maximum of 50-55 tons across all propulsion variants. The demand for Electric RTG (e-RTG) cranes has witnessed immense growth in recent years. According to the Port Equipment Manufacturers Association, 26% of the total RTG sold globally in 2021 was electric. A few key market players, including Kalmar (Finland), Konecranes Abp (Finland), and Liebherr Group (Switzerland), provide hybrid and electric variants of this equipment type that improve port productivity without increasing the emission level at port terminals. These factors, coupled with faster and efficient operations, are likely to drive the demand for RTG cranes in the future.
Based on application, container handling segment is estimated to dominate the market during the forecast period
Loading and unloading containers at ports and harbors require skilled workers and advanced port equipment such as cranes, RTGs, terminal tractors, and reach stackers. They are huge, and their capacity varies from 5-100 tons. In the past few years, the demand for seaborne trade has increased across multiple verticals such as textile, pharmaceutical, agricultural, and others. This has led to increased activities at marine ports, resulting in the increased demand for port equipment to carry out intraportal handling of containers. This has led to the growth of the container handling application segment during the forecast period.
Based on investment, the existing ports segment to have the highest market share in 2022
Existing port projects or brownfield projects refer to the addition of new technologies and advanced equipment in existing terminals to partially or fully automate them. At existing port terminals, the transition from conventional facilities to automated facilities is a stepwise process to avoid the loss of capacity of terminals. Automation can be implemented by expanding these terminals to unused areas. Irrespective of the approach, brownfield projects require thorough analysis and terminal layout planning. The various solutions used for retrofitting the terminals include Automated Stacking Cranes (ASCs) with automated shuttle carriers for horizontal transport, Automated Guided Vehicles (AGVs), fully automated straddle carrier terminals, and automated Rubber Tired Gantries (RTGs).
The South Carolina Port Authority (SC Ports), US, inaugurated its Hugh K. Leatherman terminal in April 2020, aiming to stimulate economic development in the state and solve capacity problems. The Charleston port serves the large ships that make stopovers along the American East Coast. The initial stage, involving an investment of USD 1 billion and a capacity of 700,000 twenty foot equivalent (TEU), has provided a 426 meter docking area, with 5 huge Ship to Shore (STS) cranes, supported by a 19-hectare container yard with 25 hybrid RTG crane and a refrigerated cargo area. 2.4 million TEUs of annual throughput capacity will be added by the time it is completed, involving a USD 2 billion investment
Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=184119530
Asia Pacific accounted for the largest share of the port equipment market in 2022. The presence of major port equipment manufacturers, such as Sany Heavy Industry Co., Ltd. (China), and Shanghai Zhenhua Heavy Industries (ZPMC) (China), is one of the most significant factors driving the demand for port equipment in this region. Asia Pacific is expected to continue its dominance in the port equipment market during the forecast period. However, the market in Asia Pacific is projected to record the highest CAGR of 2.7% during the forecast period.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Port Equipment Market Growth, Analysis, Latest Trends and Forecast till 2027 here
News-ID: 2772112 • Views: …
More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for…

With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth.
Download PDF Brochure @…

Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing…

Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of…
More Releases for RTG
Global Rubber Tired Gantry (RTG) Crane Market Will Generate Record Revenue by 20 …
This in-detail Rubber Tired Gantry (RTG) Crane market analysis covers the effect of current COVID-19 on the growth of the business and how it can hamper overall business. It also provides the study material that concerns demand, growth, summary and forecast throughout the globe. During the forecast period, the market is expected to grow gradually. Last but not the least, this report flashes light on research, opportunities, methodology and marketing,…
Rubber Tired Gantry (RTG) Crane Market Demand, Share including Market Assessment …
The global Rubber Tired Gantry (RTG) Crane market is projected to register an average CAGR of 5.5% during the forecast period 2022-2030.
The Rubber Tired Gantry (RTG) Crane market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth…
Radioisotope Thermoelectric Generator(Rtg) Market
Radioisotope Thermoelectric Generator(RTG) Market During the anticipated period of 2022-2030, the Radioisotope Thermoelectric Generator (RTG) Market is anticipated to experience tremendous growth. The market size, share, opportunity, growth, competitive landscape, manufacturers/players/vendors analysis, segments & sub-segments, and forecast are all thoroughly examined in this intelligence study. The market drivers, challenges (both present and future), revenue growth, the future roadmap, standards, deployment models, and forecast analysis are also covered in the study.
Radioisotope…
RTG Consulting Group Announces New Win with Furla
RTG Inspire, the marketing communications
division of RTG Consulting Group (RTG), has been appointed by Italian luxury brand
Furla to manage Strategic Public Relations in China.
RTG Inspire will work with Furla to enhance their 2020 communications plan, including
PR strategy, PR activation, PR media relations, production coordination, sample
management, celebrity and KOL seating, and event support.
“I have known the leadership team at RTG Consulting Group for several years and am
proud to announce that Furla…
Global Radioisotope Thermoelectric Generator (RTG) Market Growth 2020-2025: II-V …
The Radioisotope Thermoelectric Generator (RTG) market report provides a comprehensive view of global Radioisotope Thermoelectric Generator (RTG) industry. The study provides the industry overview with its growth analysis including CAGR, market shares, sales, gross margin, value, future trends, market opportunities etc. The study also includes analysis of historic data from 2015 to 2019 along with forecast from 2020 to 2025. Further, the Radioisotope Thermoelectric Generator (RTG) report contains drivers andrestraints…
Rubber Tired Gantry (RTG) Crane Market: Competitive Dynamics & Global Outlook 20 …
Market Research Report Store offers a latest published report on Rubber Tired Gantry (RTG) Crane Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report.
This report focuses on the key global Rubber Tired Gantry (RTG) Crane players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Rubber…