Press release
Port Equipment Market Size Worth USD 12.73 Billion. by 2032 | Growth, Share Analysis
Port Equipment Market
The global port equipment market is poised for significant growth, projected to reach USD 12.73 billion by 2032, expanding at a CAGR of 4.93% from 2025. This surge is fueled by increasing global trade, advancements in automation, and a heightened focus on sustainable port operations.
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► Competitive Landscape
Key industry players such as Kalmar, Konecranes Abp, Liebherr Group, Cargotec Corporation, and Shanghai Zhenhua Heavy Industries are at the forefront of innovation, offering advanced solutions like electric cranes and automated guided vehicles. The Asia Pacific region leads in demand, commanding a 38.1% market share in 2023, driven by robust seaborne trade and substantial investments in port infrastructure.
►Regional Insights
♦ Growth and Opportunity in the United States
The U.S. port equipment market is anticipated to grow at a CAGR of 2.2%, reaching USD 3.76 billion by 2030. This growth is propelled by modernization efforts and the integration of automation technologies. Recent developments include Ports America's partnership with Konecranes to deploy electrified rubber-tired gantry cranes along the East Coast, enhancing operational efficiency and reducing emissions.
♦ Trends and Consolidation in Asia Pacific
Asia Pacific remains the dominant region, with countries like China, India, and South Korea leading in port equipment demand. India, in particular, is expected to witness a CAGR of 4.1%, bolstered by government initiatives such as the SAGARMALA project aimed at port modernization.
Significant mergers and acquisitions have shaped the regional landscape. Notably, Cargotec Corporation's acquisition of Kalmar Industries and the merger of Konecranes' Material Handling & Port Solutions with Corporation have consolidated market positions and expanded technological capabilities.
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♦ Consolidation and Updation in the Middle East and Africa
The Middle East and Africa are experiencing a surge in port equipment modernization. In January 2024, DP World invested in advanced automated straddle carriers equipped with AI technology for its Jebel Ali terminal in Dubai, enhancing container handling efficiency.
These advancements align with the region's strategic initiatives to become global logistics hubs, necessitating the adoption of cutting-edge port equipment and technologies.
♦ Trends and Growth in Europe
Europe is witnessing a transformation in port operations, emphasizing sustainability and automation. In April 2024, Mediterranean Shipping Company (MSC) invested in next-generation ship-to-shore cranes for its terminals, aiming to improve operational efficiency and reduce environmental impact.
Additionally, the European Union's allocation of over USD 4.5 million for the H2Port initiative underscores the region's commitment to adopting hydrogen-powered port equipment, promoting greener port operations.
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► Market Segmentation: In-Depth Analysis:
by Type
Electric
Hybrid
Diesel
by Equipment Type
Mooring Systems
Tug Boats
Cranes
Ship loaders
Container Lift Trucks
Others
by Application
Ship Handling
Bulk Handling
Container Handling
Others
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/global-port-equipment-market/39567/
► Learn about the top players driving innovation in the Market :
1. ABB
2. American Crane & Equipment
3. Anhui Heli
4. Baltkran
5. Cavotec
6. CVS Ferrari
7. Famur Famak
8. Hyster
9. Kalmar
10. Konecranes
11. Liebherr
12. Lonking Holdings Limited
13. Mcnally Bharat Engineering
14. Prosertek
15. Sany
16. Til Limited
17. Timars Svets & Smide Ab
18. TTS
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► About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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