Global Automated Container Terminal Market Size Expands at Significant CAGR of 7.51%
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global automated container terminal market size at USD 9.8 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global automated container terminal market size to grow at a significant CAGR of 7.51% reaching a value of USD 16.2 billion by 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global automated container terminal market size at USD 9.8 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global automated container terminal market size to grow at a significant CAGR of 7.51% reaching a value of USD 16.2 billion by 2029. Major growth drivers for the global automated container terminal market include the growing demand for container shipping, increasing globalization & e-commerce, and rapid urbanization. Automated container terminals, known for their superior efficiency compared to traditional counterparts, are especially crucial for ports facing capacity constraints. They contribute to sustainability goals by reducing energy consumption and emissions. Advancements in automation, including autonomous vehicles and machine learning, are paving the way for advanced and efficient terminal solutions. These automated terminals have the potential to cut labor and maintenance costs, enhance safety, and give ports a competitive edge in a highly competitive landscape. India and other Asian countries, with their burgeoning import and export activities, are emerging as significant markets. However, due to the cost-intensive nature of fully automated terminals, developed countries like the United States and China lead in their adoption, while emerging economies often opt for semi-automated solutions. This dynamic market aligns with the evolving demands of global trade and shipping.
Automated Container Terminal – Overview
Automated container terminals utilize advanced technology for the efficient transportation of loaded containers between different modes of transport. They come in two forms: semi-automated and fully automated, with the latter controlling both Yard Cranes (YC) and Horizontal Transport (HT) from a central room. These terminals have evolved with the introduction of Quay Cranes, which rely on infrastructure and advanced imaging technology. While full automation is not yet widespread globally, semi-automated terminals dominate the market. They offer cost savings for shipping companies, 24/7 operations, and the ability to adapt to changing delivery methods and schedules through simulation technology. Challenges include illegible ID numbers and external factors like labor disputes and government policies. Automated container terminals enhance safety and efficiency in container handling.
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Impact of COVID-19 on Global Automated Container Terminal Market
COVID-19 pandemic adversely affected the global automated container terminal market. Initially, the industry faced disruptions in supply chains, as lockdowns and restrictions slowed international trade. Reduced consumer demand and manufacturing led to a decrease in container throughput at terminals. Also, many projects involving automation technology were delayed or postponed due to economic uncertainties. However, the pandemic also highlighted the importance of automation in maintaining terminal operations while minimizing the risk to workers. As a result, the crisis has accelerated the adoption of automation in some regions to enhance operational resilience and ensure business continuity in a post-pandemic world.
Global Automated Container Terminal Market – By Offering
On the basis of offering, the global automated container terminal market is divided into Equipment, Software, and Services segments. The services segment is expected to hold the highest share in the global automated container terminal market by offering during the forecast period. The segment’s dominance is attributed to the growing importance of comprehensive service offerings in the automation sector. Automated container terminal providers are increasingly focusing on delivering not only advanced technology but also a range of services such as maintenance, support, training, and software updates. As terminal operators seek end-to-end solutions that ensure the seamless operation of automated systems, the services segment is expected to play a pivotal role in meeting their evolving needs, making it the highest share holder in the market.
Competitive Landscape
Major players operating in the global automated container terminal market include Konecrane, ABB, Cargotec, ZPMC, ORBCOMM, Liebherr, Camco Technologies, Künz, IDENTEC Solutions, CyberLogitec, Hitachi Transport System, Mitsubishi Heavy Industries, Toyota Industries, and SSA Marine. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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