Europe Stevedoring and Marine Cargo Handling Market Size

Europe Stevedoring & Marine Cargo Handling Market Analysis

The size of Europe's Stevedoring and Marine Cargo Handling Market is valued at about USD 35 billion in the current year and is anticipated to register a CAGR of over 5% during the forecast period.

• The coronavirus outbreak dealt a significant blow to the European economy, negatively affecting many industries and disrupting supply chains. The maritime transport industry was no exception. Container carriers have been facing port closures and congestions, leading to high numbers of skipped sailings and long waiting times at some ports. Moreover, freight rates have increased considerably since the beginning of the pandemic, leading to growing prices of consumer goods manufactured overseas.
• During COVID-19, the most seaborne cargo was handled in the ports of Rotterdam, Antwerpen, and Hamburg, making them the backbone of the maritime trade in Europe. Just the Port of Rotterdam alone accounted for nine percent of the total tonnage of cargo handled in all European ports. Moreover, the year 2019 saw the highest volume of sea freight transported in the recorded period, reaching some 979 billion tonne-kilometers according to European Commission data.
• The Europe Europe stevedoring and marine cargo handling market is anticipated to expand significantly due to increased marine traffic. Moreover, emerging nations in Europe are investing in new marine port construction. However, cargo operators are capitalizing on advanced technology equipment to reduce loading and discharging time and improve their operating efficiency. This is likely to boost the market during the forecast period.