Ports and Terminal Operations Market Report by Technavio Identifies Growth in Containerization as a Major Driver

The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across segments such as service (stevedoring, cargo and handling transportation, and others) and geography (APAC, Europe, North America, MEA, and South America). This report helps businesses create strategies to make the most of future growth opportunities.

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"The growth in containerization will be crucial in driving the growth of the ports and terminal operations market. Also, the increasing automation of port operations will present significant opportunities for vendors during the forecast period", says an analyst at Technavio.

The rise of globalization and the growing number of free trade agreements has fueled the growth of international trade between countries. This has created the need for efficient means of transportation of goods through seaways, which, in turn, has increased the use of containers. With the growing global container traffic, port operators are exhibiting high demand for efficient port and terminal operation solutions that ensure the safety of goods during transit. Thus, the growth in containerization is expected to fuel the growth of the global ports and terminal operations market during the forecast period.

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Ports and Terminal Operations Market: Segmentation Analysis

Segmentation by Service:

• Based on service, the stevedoring segment led the market in 2019.
• The stevedoring services segment is expected to generate maximum revenue to the market due to the increasing size of vessels, which enhances the complexities of the stevedoring process at ports.
• Also, the manufacture of giant-sized gantry cranes is expected to contribute to the growth of the stevedoring segment during the forecast period.
• The market growth in the stevedoring segment will be significant during the forecast period.

Segmentation by Geography:

• 66% of the market growth will originate from APAC and the region will offer several opportunities for market vendors during the forecast period.
• Factors such as the rise of foreign direct investment (FDI) and the presence of low-cost countries will drive the growth of the ports and terminal operations market in APAC.
• China, Japan, and Singapore are the key markets for ports and terminal operations in APAC.

Ports and Terminal Operations Market: Major Vendors

The ports and terminal operations market is fragmented due to the presence of several vendors. The report offers detailed information on the competencies, capacities, and products offered by major vendors including 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., and SAAM.

More Details: www.technavio.com/report/ports-and-terminal-operations-market-industry-analysis

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio