Port Machinery Equipment Market Size - By Product Type, By Operation Mode, By Power Source, By Application, Analysis, Share, Growth Forecast, 2024 - 2032

Port Machinery Equipment Market Size

The global port machinery equipment market size was valued at USD 13.2 billion in 2023 and is estimated to grow at a CAGR of over 5.5% from 2024 to 2032. Factors such as economic conditions, technological developments, environmental issues, and logistics requirements have stimulated the world port machinery equipment industry. Globalization and the rise of online shopping have resulted in an increase in international trade; thus, cargo volumes have escalated, and ports must be effective in their operations. The evolution from bulk trade to container shipping increases operational effectiveness, and the use of machinery such as gantry cranes, reach stackers, and straddle carriers becomes imperative.
 

The development of mega-ports and transshipment hubs increases the need for large capacity with fully automated equipment in ports. Merchandise exports and imports have been on an upward trend leading to cross-border trade, and this was enabled by globalization. The share of global trade that is handled by the ports daily led to the constant supply of machinery in the global port machinery equipment market.
 

Also, the implementation of trade liberalizations, e.g., special economic zones (SEZs), fosters trade, thus increasing the volume of cargo that is cleared at the ports. The shipping of bulk commodities has shifted to containerized cargo, which has become cost-effective and standardized, and this has created a demand for specialized port equipment such as container cranes, reach stackers, and automated guided vehicles. Finally, there exists a very high correlation between the growth in global trade and containerized shipping on the one hand and the demand for high-speed and more efficient handling equipment on the other hand.

Governments and private firms are sinking in a lot of funds in the expansion of port facilities so that more vessels can be housed along with more cargo. A lot of ports are now using automated machinery to save on costs and operate faster while minimizing chances of error. The use of IoT, AI, and other such intelligent technologies requires modern equipment that is compatible with them.  
 

Port Machinery Equipment Market Trends

• The port sector is booming with demand. Hence, there is a relative demand for modern port equipment. Ports are being upgraded, enhancing their capability to conduct business and grow.
   
• With the growth of a port expands its capacity, with a greater number of people demanding goods as well, which means further expansion in equipment such as cranes and carrying systems is needed. Around the globe, ports are shifting toward semi and full automation to streamline operations, reduce overheads, and manage greater volumes of cargo.
   
• Various operators and the government are now accelerating the push for modernization by integrating AI, IoT, and other platforms. There is also a shift in the way ports are being operated, which means there is a great demand for better-performing and modern equipment. There is a noticeable growth rate in emerging economies, resulting in a higher demand for these multifunctional port devices.
   

Port Machinery Equipment Market Analysis

• The major port machineries and equipment manufacturers are set to achieve gargantuan breakthroughs and rid the interposes of consignment transfers due to advancements in the integration of IoT and the automation of containers through the seamless provision of transport logistics globally. All this briefly will enhance customer satisfaction and growth in revenue for a great number of enterprises; however, the prime and core hurdle is the shift in lack of machinery and lack of integrations at a port.
   
• Considering the breadth of equipment port operators have at their disposal, including automated cranes, electric reach stackers, etc., it is clear to see that a vast market will find it hard to sustain such heavy costs when it comes to development or procurement of the required machinery. Additionally, several resource-limited ports will be unable to expand in size, resulting in a larger drawback in the growth of the port machinery equipment market.
   
• Custom-built machinery which is port-specific has a much higher procurement cost and development cost besides the upsurging rate at which the currency shifts, minting it as the ideal scenario for the developing ports or data-limited ports. Keeping in mind the limitation, some ports will find it hard to twist their return on investment to just a few years, further widening the scope for improvement.

The cranes segment was reached 3.94 billion in 2023 and is set to register at a CAGR of 6.1% CAGR from 2024 to 2032.
 

• The transportation market has high ideas to enable international trade on a global level remotely, enabling multiple shifts and adapting to requirements set by their consumers while meeting their expectations simultaneously. This International community is fully set in expectation to meet the growing demand caused through the advancement in the e-commerce industry through seamless integration, allowing for tightly packed goods to surpass time constraints.
   
• Advanced crane systems are in high demand as notable trading hubs such as Singapore, Rotterdam, and Shanghai begin to develop large-scale ports. The rising global fleet, which includes ultra-large container ships (ULCS), is raising the bar in terms of the need for massive capacity cranes at ports.
   
• Automation in cargo loading and robotic technology is becoming the answer to the requirement of high operational capabilities. Smart Ports have arrived that utilize IoT-enabled cranes and allow for real-time monitoring, predictive maintenance, and improvement of port policies. There is a constantly increasing demand and supply for the modernization and building of new cranes, in turn increasing the efficiency of the port.

The diesel-powered segment accounted for over 41.5% share of the in port machinery equipment market in 2023.
 

• The market for diesel-powered port machinery equipment continues to grow despite the trend of electrification and automation of port operations. There are some key factors that affect the growth and relevance of this market. Diesel machinery is still very much required in a great number of activities, especially for the regions where there are barriers to the use of other technologies due to lack of infrastructure or high costs.
   
• Such equipment as diesel extendable stackers, diesel forklifts, diesel cranes, and diesel terminal tractors work well in and reliably perform such space-constrained and high load handling operations.
   
• Furthermore, diesel machinery does not require significant access to grid electricity or energy repackaging through batteries; this makes them suitable for ports that have high operational use or low levels of power access. Diesel machinery is by virtue dependent on a highly versatile ubiquitous fuel for intense operations, and this sustains the huge demand for it across the globe. Increased international trade, spurred by globalization, e-commerce, and economic growth, has resulted in an increase in volume of loads available at ports and hence the need for appropriate handling equipment.
   
• Ports that deal with raw materials like coal, steel, and agricultural goods often require the use of non-containerized goods handling diesel equipment. The increasing volume in trade requires reliable port machinery diesel equipment, which creates the need for demand.  

The U.S. port machinery equipment market size crossed USD 2.4 billion in 2023 and is expected to experience a turnaround a CAGR of higher than 5.8% till 2032.
 

• Maritime such as Los Angeles, Long Beach, New York, and New Jersey ports have huge impacts in the vertical of international trade. They can handle a wide range of export and import activities.
   
• E-commerce, the amount of containerized goods being moved has massively increased, which directly demands better equipment. Moreover, treaties like the United States Mexico Canada Agreement (USMCA) only boost demand for port machinery as they facilitate cross-border trade.
   
• It is estimated that US ports can manage up to millions of TEUs annually. Let alone the need for reliable cranes, gantries, and AGV, the nature and scale of the logistics operations alone demand it. As more types of cargos enter the market, the demand for suitable equipment Coordinating body with NG in Thailand as DGAs in Malaysia is also skyrocketing.
   
• The vast trade of the US and diverse cargo needs necessitate timely investments in the latest port equipment. The ports of Los Angeles and Long Beach are taking the lead in the shift towards zero emissions operations creating a hybrid and electric machinery market. Federal incentives, such as grants and subsidies, stimulate the promotion of low emission equipment such as electricity-powered forklifts and cranes of hybrid type. Policies focused on ecological issues facilitate the implementation of progressive technologies and equipment in the ports of the USA.
   

North America: When the market is broken down by country, the single most important market for North America port machinery and equipment in 2023 is the United States with a total market share of around 73%. The government is implementing laws, for example the Bipartisan Infrastructure Law, which allocates enormous funds for the improvement of port infrastructure like the US in 2023, which augurs well for the adoption of new equipment. To enhance productivity and cut down on manual labor, US ports are making investments in automation increasing the need for high-end equipment. With the growth of ports to accommodate ultra-large container vessels, the demand for larger cranes and associated equipment increases.
 

Demand for offshore technology such as reach stackers and terminal tractors is increased by the building of inland ports and intermodal transport hubs. Capacity enhancement projects complement modernization plans ensuring that the machinery employed at the ports in the US is up to date. There are several ports in the United States for instance Los Angeles and Long Beach which have been developed to handle the wide range of imports from Asia which uses high speed handling equipment paired with heavy-duty cranes specialized for the task. The expansion of the Panama Canal has heightened the volume of trade at the ports located along the Eastern Part of the Coast which compounds the need for technologically advanced equipment.
 

In contrast, over the duration of the forecast period the Canada port machinery equipment market is anticipated to rise at a CAGR of 4.8%. Export of goods particularly natural resources such as oil, gas, and minerals alongside agricultural products comprise Canada's economy, and this greatly has increased the demand for bulk handling machines. The growth in consumer demand has increased importation which has consequently increased containerized cargo traffic in various ports, including Toronto and Montreal.
 

Considering that Canada is the U.S. biggest trading partner, it is imperative to note that Canadian ports have been active in bilateral trade which necessitates specialized machinery in the fast processing of the cargo. Due to the development of the Arctic shipping routes, there is increasing importance for northern ports, such as Churchill, which in turn turns into the need for robust all-weather equipment. There are ongoing upgrades in Vancouver, the largest port in Canada, in a bid to accommodate the increasing traffic which in turn has translated to a surge in demand for container cranes and yard equipment. There are emerging opportunities for better machines that can handle deep functions at Halifex because of the investment they have made with a view to creating deep water capabilities.
 

Port Machinery Equipment Market Share

For instance, Konecranes, Liebherr, Sany Heavy Industry, Anhui Heli, etc. comprised 40-45% in the market share which effectively gives them market edge among other firms as of 2023. It is true that these firms actively pursue forms of mergers, facility expansion, acquisition and collaborations to help them build their portfolios and amass a larger clientele base and improve their positions in the market.
 

To meet the ever-changing demands in industry, companies are focusing on improving port machinery equipment. As a part of their competitive strategy, companies differentiate their products by targeting emerging markets with additional features. Companies that are fast enough to incorporate the latest trends are most likely to reap the greatest rewards in this fast-paced market.
 

Port Machinery Equipment Market Companies

Major players operating in the port machinery equipment industry are:

• ABB
• Anhui Heli
• Cargotec
• Gaussin Group
• Kalmar
• konecranes
• Liebherr group
• Mitsubishi
• Prosertek Group
• Sany Heavy Industry
• Shanghai Zhenhua Heavy Industries
• Toyota
   

Port Machinery Equipment Industry News

• In November 2024, Ports America and TMX took a step in the right direction, announcing the delivery of four ships to shore cranes and several additional port machineries. Ports America’s cranes not only improve operational efficiency but also cut maintenance and fuel costs, a landmark goal for many emerging companies in the maritime sector.
   
• In November 2024, Sany Heavy industry will deliver M400E dual type cranes for Port Zamboanga in the Philippines. The long loading radio will enable the cranes to reach the furthest vessels in most port docks. Additionally, its deft handling characteristics will ensure fast operations, providing a boost to Zamboanga’s maritime sector. SANY, amid the forthcoming COP29 and the clarion call from the manufacturing sectors for net-zero growth, is paying lip service to the ire of its critics by shifting the industrial narrative with pragmatic steps to achieve the carbon goals.
   

This port machinery equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) & volume (Million Units) from 2021 to 2032, for the following segments:

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Market, By Product Type

• Cranes
• Forklifts
• Reach stackers
• Straddle carriers
• Ship loaders
• Terminal tractors
• Others

Market, By Operation Mode

• Manual
• Automatic

Market, By Power Source

• Diesel-Powered
• Electric-Powered
• Hybrid-Powered

Market, By Application

• Container handling
• Bulk handling
• Ship handling

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa