Global Port Services Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Surging demand of containerized and bulk cargo

The Global Port Services Market is estimated to be USD 77.11 Bn in 2023 and is expected to reach USD 97.52 Bn by 2028 growing at a CAGR of 4.81%.

Port services are a vital part of the global freight brokerage services market. Ports handle goods and cargo, including loading, unloading, storage, and transportation. They also provide a range of services to the shipping industry, including customs clearance, freight forwarding, and logistics management. Port services play a key role in the global supply chain by facilitating the movement of goods and reducing delays and paperwork. They provide a one-stop solution for importers, exporters, shipping lines, and carriers and help streamline the movement of goods from one location to another.

The maritime sector is critical to the global economy's expansion. Growth in global seaborne traffic is expected to boost the market share of marine port services. According to the United Nations Conference on Trade and Development (UNCTAD), over 80% of global trade by volume is carried out by sea and is managed by ports worldwide. Expanding maritime business and transportation will increase demand for marine port services such as terminal handling, logistics, and other related services. Globalization has dramatically increased marine trade during the last few decades, according to data from the United Nations Conference on Trade and Development (UNCTAD). Between 1990 and 2020, the volume of global seaborne trade more than doubled. The volume of worldwide seaborne trade is expected to reach over 11 billion tonnes in 2020. Furthermore, the rapid growth of container cargo is expected to enhance the demand for container handling services, driving market growth.

The shipping industry is projected to be impacted by the continuing global transformation to a clean and green maritime sector. At the same time, an increasing number of stringent standards proposed by international maritime environmental bodies regarding ship recycling, sulfur emissions, and greenhouse gas emissions are expected to limit expansion. According to the International Maritime Organisation (IMO) 2020 regulation, the Sulphur cap in fuel oils will be reduced from 3.50% to 0.50%.

Ports are increasingly using technological advancements throughout the value chain. For example, technologies such as the Internet of Things (IoT), robotics, and platform solutions are used for loading and unloading containers. Port storage facilities use big data analytics and smart metering, while industrial processing uses smart energy management, predictive maintenance, and smart grid technology. Awake, for example, in 2020. The Port of Rotterdam chose AI to develop the smart port project. Awake. AI created a smart ship port call management system to evaluate all transformative processes without jeopardizing the port's huge operations.

• Reduced output and consumption during the pandemic have resulted in a decline in maritime transactions, which has resulted in lower port traffic and shipping demand. Container handling port activity has decreased due to a decline in demand for container transit. As a result of the decreasing demand for marine port services, COVID-19 has had a detrimental influence on the port services sector. According to 'The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP),'global container shipping volume decreased by 5.1% in the first quarter of 2020 compared to the same period in 2019. According to the International Chamber of Shipping (ICS), the shipping industry's revenue losses due to the epidemic totaled USD 350 million each week.

Market Segmentations

• The Global Port Services Market is segmented based on Service and Geography.
• By Service, the market is classified into container handling services, ship repair & maintenance services, navigation services, supply chain & logistics solution services, and mechanical and electrical engineering services.
• The container handling services segment dominated the market and is likely to do so throughout the projection period. The increasing container cargo traffic around the world is related to the segment's rise. However, Asia is likely to account for most of the demand. According to UNCTAD, Asia accounted for about 65% of worldwide container port throughput in 2019. China alone accounted for more than half of worldwide cargo port throughput.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
• Asia-Pacific has the greatest market share and is expected to maintain its dominance during the projection period. It boasts the busiest ports in the world in China, Singapore, Hong Kong, and South Korea, which will fuel regional market expansion. Asia's middle-class population is expected to increase demand for European products, boosting trade and stimulating Asian port activity. Because of more technologically advanced manufacturing techniques, such as 3D printing, local production of goods is expected to rise, resulting in new local trade channels and market expansion.

Recent Development

• The European Union awarded an international association of 45 organizations headed by the Port of Rotterdam USD 30.6 million in funding to run ten projects concentrating on smart and sustainable logistics in port operations. - May 2021
• Hutchison Ports Netherlands B.V., a subsidiary of Hutchison Ports, signed an agreement to acquire the Rotterdam container terminal APM Terminals Rotterdam (APMTR) from APM Terminals. - May 2021

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are 12.20 Yilport Holdings, Inc., Transnet SOC, TomWorks, Montreal Port Authority, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Port Services Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Port Services Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Port Services Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market