Global Ports and Terminals Operations Market Size, Trends & Growth Opportunity, By Service (Stevedoring, Cargo and handling transportation, Others), By Application (Food Transportation, Coal Transportation, Steel Transportation, Others), By Region and Forecast till 2027.
The global Ports and Terminals Operations market was valued at USD 3,140.30 Mn in 2021 which expected to reach USD 7,030.00 Mn by 2027 at a CAGR 9.64% from 2021-2027.
Terminal Operations refers to the services provided at a port terminal, which include cargo handling, storage, transshipment, and cargo delivery to vessels, as well as related services. A virtual point where network connections begin and end is referred to as a port. The operating system of a computer manages ports, which are software-based. Each port is linked to a particular process or service. Sea freight services offer numerous advantages, including large cargo space availability, cost-effectiveness, and safety. Over the forecast period, the industry's growth will be driven by the expansion of maritime logistics services.
Rising Government efforts for promote the ports sector.
Ports constitute an important economic activity in coastal areas. Ports are also important for the support of economic activities in the hinterland since they act as a crucial connection between sea and land transport. Due to this, government across the various countries is focusing to promote port operation. Increasing investment and cargo traffic point towards a healthy outlook for the ports sector.
Providers of services such as operation and maintenance (O&M), pilotage and harboring and marine assets such as barges and dredgers are benefiting from these investments.
Port operators are focusing on digital transformation optimize operational activities and expand the capabilities, such as monitoring of infrastructure, collecting real-time data and among others. This transformation is based on the technologies such as big data, cloud computing, Internet of Things (IoT) and incorporation of these technologies in the system has made the ports vulnerable to cyber-attacks. To utilize technologies at their full potential awareness regarding cyberattacks can be raised among the stakeholders and cybersecurity can be developed.
Thus, cyber-attacks can be challenging factor for the growth of the port and terminal market, during the forecast period.
Nearly every industry has been impacted negatively, and the Ports and Terminals Operations industry is no exception.According to Chair of the House Committee on Transportation and Infrastructure, “the internationally trading fleet, for instance, has shrunk to a paltry 85 vessels and carries less than 1.5% of the goods entering and exiting our [US] ports.
Ports and Terminals Operations, is the backbone of the global economy. The industry itself faces pressure to innovate to make shipping operations greener, more efficient, and cheaper, all while battling the unprecedented challenges resulting from COVID-19.
Although the market is expected to recover post-COVID due to the increasing trade activities
The Global Ports and Terminals Operations Market is segmented into Service, Application. By Service such as Stevedoring, Cargo and handling transportation, others. Further, market is segmented into By Application such as Food Transportation, Coal Transportation, Steel Transportation, Others.
Global Ports and Terminals Operations Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Europe is expected to have the highest CAGR. Europe's ports are smaller, but they handle a lot of cargo. Furthermore, European ports are unable to compete solely on the basis of port size, as smaller ports can handle the same amount of traffic as larger ports. As a result, even moderately and sparsely used ports are increasingly turning to smart operations. Asia Pacific dominated the market. The presence of major ports with high throughput capacity characterises the region, which accounts for the largest share of global trade.
Various key players are listed in this report such as APM Terminals, China Merchants Port Holdings Co. Ltd, COSCO SHIPPING LINES Co. Ltd., DP World, EUROKAI GmbH & Co. KGaA, Hutchison Port Holdings Trust, International Container Terminal Services Inc. (ICTSI), Ports America Inc., PSA International Pte. Ltd., SAAM
Global Ports and Terminals Operations Market
The global Ports and Terminals Operations market was valued at USD 3,140.30 Mn in 2021 which expected to reach USD 7,030.00 Mn by 2027 at a CAGR 9.64% from 2021-2027.
Terminal Operations refers to the services provided at a port terminal, which include cargo handling, storage, transshipment, and cargo delivery to vessels, as well as related services. A virtual point where network connections begin and end is referred to as a port. The operating system of a computer manages ports, which are software-based. Each port is linked to a particular process or service. Sea freight services offer numerous advantages, including large cargo space availability, cost-effectiveness, and safety. Over the forecast period, the industry's growth will be driven by the expansion of maritime logistics services.
Market Drivers
Rising Government efforts for promote the ports sector.
Ports constitute an important economic activity in coastal areas. Ports are also important for the support of economic activities in the hinterland since they act as a crucial connection between sea and land transport. Due to this, government across the various countries is focusing to promote port operation. Increasing investment and cargo traffic point towards a healthy outlook for the ports sector.
Providers of services such as operation and maintenance (O&M), pilotage and harboring and marine assets such as barges and dredgers are benefiting from these investments.
Market Restraints
Port operators are focusing on digital transformation optimize operational activities and expand the capabilities, such as monitoring of infrastructure, collecting real-time data and among others. This transformation is based on the technologies such as big data, cloud computing, Internet of Things (IoT) and incorporation of these technologies in the system has made the ports vulnerable to cyber-attacks. To utilize technologies at their full potential awareness regarding cyberattacks can be raised among the stakeholders and cybersecurity can be developed.
Thus, cyber-attacks can be challenging factor for the growth of the port and terminal market, during the forecast period.
COVID-19 Impact on the Ports and Terminals Operations Market
Nearly every industry has been impacted negatively, and the Ports and Terminals Operations industry is no exception.According to Chair of the House Committee on Transportation and Infrastructure, “the internationally trading fleet, for instance, has shrunk to a paltry 85 vessels and carries less than 1.5% of the goods entering and exiting our [US] ports.
Ports and Terminals Operations, is the backbone of the global economy. The industry itself faces pressure to innovate to make shipping operations greener, more efficient, and cheaper, all while battling the unprecedented challenges resulting from COVID-19.
Although the market is expected to recover post-COVID due to the increasing trade activities
Market Segmentation
The Global Ports and Terminals Operations Market is segmented into Service, Application. By Service such as Stevedoring, Cargo and handling transportation, others. Further, market is segmented into By Application such as Food Transportation, Coal Transportation, Steel Transportation, Others.
Regional Analysis
Global Ports and Terminals Operations Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Europe is expected to have the highest CAGR. Europe's ports are smaller, but they handle a lot of cargo. Furthermore, European ports are unable to compete solely on the basis of port size, as smaller ports can handle the same amount of traffic as larger ports. As a result, even moderately and sparsely used ports are increasingly turning to smart operations. Asia Pacific dominated the market. The presence of major ports with high throughput capacity characterises the region, which accounts for the largest share of global trade.
Key Players
Various key players are listed in this report such as APM Terminals, China Merchants Port Holdings Co. Ltd, COSCO SHIPPING LINES Co. Ltd., DP World, EUROKAI GmbH & Co. KGaA, Hutchison Port Holdings Trust, International Container Terminal Services Inc. (ICTSI), Ports America Inc., PSA International Pte. Ltd., SAAM
Market Taxonomy
By Service
- Stevedoring
- Cargo and handling transportation
- Others
By Application
- Food Transportation
- Coal Transportation
- Steel Transportation
- Others
By Region
- North America
- Latin America
- Europe
- China
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Ports and Terminals Operations Market?
- What will be the growth rate from 2021 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Table of Contents
1 Introduction
2 Research Methodology
4 Global Ports and Terminals Operations Market Outlook
5 Global Ports and Terminals Operations Market, By Service
6 Global Ports and Terminals Operations Market, By Application
7 Global Ports and Terminals Operations Market, By Region
8 North America Ports and Terminals Operations Market Analysis and Forecast (2021-2027)
9 Europe Ports and Terminals Operations Market Analysis and Forecast (2021-2027)
10 Asia Pacific Ports and Terminals Operations Market Analysis and Forecast (2021-2027)
11 Latin America Ports and Terminals Operations Market Analysis and Forecast (2021-2027)
12 Middle East Ports and Terminals Operations Market Analysis and Forecast (2021-2027)
13 Competitive Analysis
14 Company Profiles
