Growing demand for services in automated container terminals is fueling the growth of the automated container terminal market
The automated container terminal market is expected to grow at a CAGR of 3.7% between 2017 and 2023, to reach USD 10.89 billion by 2023 from USD 9.09 billion in 2018. In existing as well as new terminals, services are important for the proper functioning of equipment. In automated terminals, even a minor defect in any equipment can cause a serious productivity loss. Leading players in the automated container terminal market are focused on expanding their service network to increase the service revenue. Thus, the service contracts are increasing in number, thereby driving the growth of the market for the same. However, the requirement of high initial cost for the implementation of automated container terminals is the major restraining factor for the growth of the automated container terminal market.
The growth of the automated container terminal market is expected to be driven by the increasing investment in brownfield projects during the forecast period
The revenue contributed by the brownfield projects is expected to hold a significant share of the automated container terminal market during the forecast period. Increasing number of stringent government regulations in developed regions, such as North America and Europe, for the construction of new terminals is expected to encourage the growth of the market for brownfield terminals. Further, the need to increase productivity is encouraging the developed countries to invest in brownfield projects.
The automated container terminal market in APAC is expected to grow at the highest CAGR during forecast period
The automated container terminal market in APAC is expected to grow at the highest CAGR between 2018 and 2023. The developing nations in APAC are significantly investing in automation. The terminal operators in APAC are switching to fully automated and semiautomated container terminals from traditional container terminals due to the increasing maritime transportation and trade in APAC. Further, the countries such as China and Japan are ahead in terms of the adoption of automation. Increasing investments by port operators for the adoption of advanced port equipment and solutions is another factor driving the market growth. Also, the increasing investment in greenfield projects in the region further encourages the growth of the market in APAC.
In the process of determining and verifying the size of the market for several segments and subsegments estimated through secondary research, extensive primary interviews have been conducted with key officials in the automated container terminal market. Following is the breakup of the primary participants for the report:
By Company Type: Tier 1 = 50 %, Tier 2 = 30%, and Tier 3 = 20%
By Designation: CLevel Executives = 70%, Directors = 20%, and Others = 10%
By Region: North America =40%, Europe = 35%, APAC = 15%, and RoW = 10%
Moreover, the report profiles the key players in the automated container terminal market and analyzes their market ranking. The prominent players profiled in this report are Cargotec Finland , Konecranes Finland, ZPMC China, Liebherr Switzerland, ABB Switzerland, Knz Austria, CyberLogitec South Korea, IDENTEC SOLUTIONS Austria, Camco Technologies Belgium, and ORBCOMM US.
Research Coverage:
This research report categorizes the automated container terminal market on the basis of the degree of automation, project type, offering, and geography. Moreover, the report provides a description of the major drivers, restraints, challenges, and opportunities pertaining to this market as well as the value chain analysis and market ranking analysis.
Reasons to Buy the Report:
The report would help the leaders/new entrants in the automated container terminal market in the following ways:
1. The report segments the automated container terminal market comprehensively and provides the market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them the information on key drivers, restraints, challenges, and opportunities for the automated container terminal market.
3. The report would help stakeholders understand their competitors better and gain insights to improve their position in the automated container terminal market. The competitive landscape section describes the competitor ecosystem.