Port Equipment Market Size Worth $35.57 Billion By 2032 | CAGR: 6.7%

The global port equipment market size is expected to reach USD 35.57 billion by 2032, according to a new study by Polaris Market Research. The report “Port Equipment Market Share, Size, Trends, Industry Analysis Report, By Equipment Type (Mooring Systems, Tug Boats, Cranes, Ship Loaders, Container Lift Trucks, and Others); By Application; By Type; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing awareness regarding the carbon footprint and growing inclination towards the environment friendly transportation, and continuous rise in the adoption and integration of automated equipment, that enable port operators for higher convenient and comparatively easier handling of cargo are the primary factors supporting the global market growth.

Furthermore, the use of various newly developed and innovated forklift trucks, automated transit vehicles, reach stackers, container lift trucks, and others have significantly increased with the development of ports globally, which in turn is likely to augment the growth and demand of the market.

For instance, in December 2022, PALFINGER, unveiled its latest FHS Series forklifts basically for construction sites and industrial applications. The new forklifts come with a full range capacity of 5,500-Ib & are available in 4 different forms. It enables the operator to lift full capacity at maximum reach.

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In the recent years, the transportation through oceans has become more feasible and cost-effective especially for international trade, as it is the most used transport all over the world, around 80% of the total trade volume in goods is being transported by oceans and this proportion is even greater and large for emerging countries like China and India, which creates high demand for larger ports and efficient equipment to manage various kinds of operations smoothly and perfectly, thus the demand and adoption of advanced port equipment will gain significant traction in the coming years.

Port Equipment Market Report Highlights

• Cranes segment accounted for highest market share in 2022, which is mainly accelerated by increased proliferation for replacing old cranes into new advanced models
• Container handling segment held the significant market revenue share owing to surge in the global trade activities and improvement in its performance and operational efficiency
• Hybrid segment is projected to grow at fastest growth rate during the anticipated period, on account increasing government and private organizations focus on transportation of ports towards green ports
• Asia Pacific region dominated the port equipment market in 2022, which is highly attributable to presence of various large ports and continuous growth in the commerce or trade activities in the region
• The global key market players include Liebherr Group, Shanghai Zhenhua Heavy Industries, American Crane & Equipment, Lonking Holdings, and Konecranes

Polaris Market Research has segmented the port equipment market report based on equipment type, application, type, and region:

Port Equipment, Equipment Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Mooring Systems
• Tug Boats
• Cranes
• Ship Loaders
• Container Lift Trucks
• Others

Port Equipment, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Container Handling
• Bulk Handling
• Scrap Handling
• Stacking
• General Cargo
• Others

Port Equipment, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Diesel
• Electric
• Hybrid

      Port Equipment, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa