GLOBAL MARINE PORT SERVICES MARKET - GROWTHS, TRENDS, COVID-19 IMPACT AND FORECASTS (2022-2027)

The Global Marine port Services Market is segmented By Service Analysis (container handling services, ship repair, and maintenance services, supply chain, Mechanical and electrical engineering services, navigation services, and Logistics Solutions) and By Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The report offers market size and forecasts for Global Marine Port Services Market in value ( USD Billion ) for all the above segments.

Market Snapshot

market-snapshot
Study Period: 2022-2027
Base Year: 2021
Fastest Growing Market: North America
Largest Market: Asia-Pacific
CAGR: >5 %

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Market Overview

The Global Marine Port Service Market is anticipated to register a CAGR of greater than 5% during the forecast period.

The global supply chain in the maritime industry has been facing a series of challenges since the start of the COVID-19 pandemic in early 2020. Port closures due to coronavirus outbreaks, port congestions, rising prices of bunker fuel, and problems with capacity utilization were plaguing the global marine port services industry for most of 2020 and 2021.

The demand for marine port services is directly influenced by international trade and economic cycles. The decreased production and consumption during the pandemic has led to a reduction in maritime trades, which, in turn, has reduced port traffic and shipping demand. A decrease in the demand for container transport has reduced activities in container handling ports. Thus, COVID-19 has had a negative impact on the port services market owing to the decreased demand for marine port services.

Accoridng to "The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP)", in Q1 of 2020, the container shipping volume worldwide reduced by 5.1% as compared to the same period in 2019. According to the International Chamber of Shipping (ICS), the revenue losses caused to the shipping industry due to the pandemic were USD 350 million per week. On the other hand, the recent spike in container freight rates turned out extremely profitable for marine port services operators who reported record high profit margins in 2021.

The future of the marine port services market looks promising as the global trade relies heavily on container shipping to move goods around the world which accelerates the marine port service industry. The major drivers of growth for this market are high growth of the marine transportation industry, rising customer demand and expansion of new ports across various regions and surging demand of containerized and bulk cargo.

Some of the emerging trends accelerating the marine port services market are vessel traffic services, marine port privatization, self-unloading bulk and carrier technology. Ports are progressively employing innovations in the entire value chain with a wide range of technologies. For instance, technologies such as the Internet of Things (IoT), robotics, and platform solutions are used for loading & unloading containers. 

Big data analytics and smart metering are used for storage facilities at ports, and smart energy management, predictive maintenance & smart grid technology are used for industrial processing. For instance, in 2020, Awake.AI was selected by the Port of Rotterdam for the development of the smart port project. Awake. AI fashioned a smart ship port call management system to test all transformational processes without threatening the port’s massive operations. 

Scope of the Report

Global Port Services are ideally placed to provide clients with an unparalleled solution in marine logistics and port agency services, handling in excess of 800 port call movements. In the UK and overseas, global port services means the company that has an infrastructure that supports the main operational ports as well as having a very strong supply chain team that allows pre-planned or short notice calls to be managed efficiently and effectively utilising a skilled, multi-disciplined workforce. The Global Marine port Services Market is segmented By Service Analysis (container handling services, ship repair and maintenance services, supply chain, Mechanical and electrical engineering services, navigation services and Logistics Solutions) and By Geography (North America, Europe, Asia-Pacific and Latin America , Middle East and Africa). The report offers market size and forecasts for Global Marine Port Services Market in value ( USD Billion ) for all above segments.

By Service Analysis
Container Handling Services
Ship repair and maintenance services
Supply Chain
Mechanical and Electrical Engineering Services
Navigation Services
Logistics Solutions
Geography
North America
US
Canada
Mexico
Europe
Germany
UK
France
Russia
Spain
Rest of Europe
Asia Pacific
India
China
Japan
Australia
Singapore
Malaysia
South Korea
Rest of Asia Pacific
South America
Brazil
Argentina
Rest Of South America
Middle East & Africa
UAE
Saudi Arabia
South Africa
Others

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Key Market Trends

Increasing Maritime Trade

According to data published by the United Nations Conference on Trade and Development (UNCTAD), globalization has caused a steep increase in maritime trade over the past few decades. The volume of global seaborne trade more than double between 1990 and 2020. In 2020, the volume of global seaborne trade was estimated to be around 11 billion tons.

The surge in global sea trade is expected to increase the demand for product maritime transport, which is the pillar of international trade and the global economy. A rise in seaborne trade across the globe is expected to fuel the growth of the market during the global marine vessel industry forecast period.

As per the Maritime Publications, around 80% of the global trade by Volume and 70% of global trade by value are carried out via sea and are completely controlled by ports all over the world. Moreover, the rapid expansion of the developing countries and globalization are expected to play a major role in the increasing maritime trade.

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Rising Container Handling Services are driving the market

Maritime shipping is the backbone of world trade; it is estimated that some 80 percent of all goods are carried by sea. With the growth of the world economy over the past decades, the volume of freight transported by ships has increased as well. In 2020, about 1.85 billion metric tons of cargo were shipped globally. Naturally, the global container fleet has grown in size as well. In January 2022, the global container shipping throughput recorded an index value of 123.3, an increase from 118.2 in December 2021, but lower than the value of 124.3 reported in August 2021.

Generally, the trend is positive for the index, even after the massive decrease caused by the COVID-19 pandemic. Amid the COVID-19 pandemic, the volume of containers transported globally shrank by about 0.8 percent in 2020. Container throughput in Europe shot up in 2021, rising by 4.6 percent compared to the previous year when the throughput had contracted by 3.2 percent.

Growing demand for the commercial fleet must be supported by better handling services and hence, with the incresing supply for the commercial fleet, the market for marine port services is expected to rise. In 2020, the global commercial shipping fleet grew by 3 per cent, reaching 99,800 ships of 100 gross tons and above. By January 2021, capacity was equivalent to 2,13 billion dead weight tons (dwt).

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Competitive Landscape

The market is relatively fragmented, with a large number of local and International players like DP World Limited, AP Moller Maersk, Hamburger Hafen Und Logistik AG, Shanghai International Port, and Shipping Solutions and Services Ltd. These major players are investing in new technologies, such as automation, the Internet of things (IoT), and others, creating smart ports. The main focus is to create automatic, digitalized, and connected supply chains where a less physical labor force is needed. Key players are also collaborating to create supply chain synergies within their ecosystems and clusters.

Recent Development

  • On 19 June 2022, DP World and the Saudi Ports Authority announce a major new partnership for the Jeddah logistics park. This is a 30-year agreement with an investment value of more than SAR 500 million (USD 133.33 million) to build a state-of-the-art, port-centric Logistics Park at the Jeddah Islamic Port. The agreement aims to establish a logistics park that spans over 415,000 square meters, with an in-land container depot capacity of approximately 250,000 TEU and a warehousing storage space of 100,000 square meters. Future expansions could increase the storage space to 200,000 square meters.
  • May 2021 – Hutchison Ports Netherlands B.V., a subsidiary of Hutchison Ports, signed an agreement to acquire the Rotterdam container terminal named APM Terminals Rotterdam (APMTR) from APM Terminals. 
  • May 2021 – Régie du Terminal à Conteneurs (RTC), a terminal operator in Cameroon, placed an order for two Gottwald Model 6 Mobile Harbor Cranes manufactured by Konecranes to improve its overall capacity in container handling.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Value Chain / Supply Chain Analysis

    5. 4.5 Porters 5 Force Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Insights on Technological Advancements In The Industry

    7. 4.7 Impact Of Covid -19 On The Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Service Analysis

      1. 5.1.1 Container Handling Services

      2. 5.1.2 Ship repair and maintenance services

      3. 5.1.3 Supply Chain

      4. 5.1.4 Mechanical and Electrical Engineering Services

      5. 5.1.5 Navigation Services

      6. 5.1.6 Logistics Solutions

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 US

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 UK

        3. 5.2.2.3 France

        4. 5.2.2.4 Russia

        5. 5.2.2.5 Spain

        6. 5.2.2.6 Rest of Europe

      3. 5.2.3 Asia Pacific

        1. 5.2.3.1 India

        2. 5.2.3.2 China

        3. 5.2.3.3 Japan

        4. 5.2.3.4 Australia

        5. 5.2.3.5 Singapore

        6. 5.2.3.6 Malaysia

        7. 5.2.3.7 South Korea

        8. 5.2.3.8 Rest of Asia Pacific

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest Of South America

      5. 5.2.5 Middle East & Africa

        1. 5.2.5.1 UAE

        2. 5.2.5.2 Saudi Arabia

        3. 5.2.5.3 South Africa

        4. 5.2.5.4 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Mergers & Acquisitions

    3. 6.3 Company Profiles

      1. 6.3.1 DP World Limited

      2. 6.3.2 AP Moller Maersk

      3. 6.3.3 Hamburger Hafen Und Logistik AG

      4. 6.3.4 Shanghai International Port

      5. 6.3.5 Shipping Solutions and Services Ltd.

      6. 6.3.6 International Container Terminal Services

      7. 6.3.7 CarboShield Inc.

      8. 6.3.8 Tianjin Port Development Holdings Ltd.

      9. 6.3.9 TomWorks LLC

      10. 6.3.10 Montreal Port Authority*

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Global marine port services market market is studied from 2022 - 2027.

The Global marine port services market is growing at a CAGR of >5% over the next 5 years.

North America is growing at the highest CAGR over 2021- 2026.

Asia-Pacific holds highest share in 2021.

DP World Limited, AP Moller Maersk, Hamburger Hafen Und Logistik AG, Shanghai International Port, Shipping Solutions and Services Ltd. are the major companies operating in Global marine port services market.

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