Marine Cargo Handling Market - Global Industry Analysis, Size, Share, Growth

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The marine cargo handling industry plays a vital role in the transfer of goods between the seller and buyer. However, more than 90% of the international trade being directed by sea. Cargo ships are types of ships or vessels that carry cargo, material, and goods from one place to the other. Various types of ships such as bulk container ships, rely primarily on shore-side cargo handling equipment to discharge or load their cargo. Marine cargo handling ships or containers are used to import or export various goods in inland waterways or oceans through national or international borders, wherein handling is carried out by the government or private port companies. 

Containers are the most preferred transported method of cargo form across globe, as they are transported by land, air, and water transportation systems. The cargo handling of the containers on ships becomes very dangerous, as they are exposed to strong wind and harsh weather in the sea. However, higher competition among marine cargo handling companies is estimated to put a downward pressure on prices. This is a major restraint for the expansion of the marine cargo handling market. Increasing demand for goods fuels the export and import of various goods internationally, via sea, land, or air. Transportation of goods internationally via ships is most economical, which in turn boosts the marine cargo handling market.

In terms of type of cargo, the marine cargo handling market can be segmented into bulk, containerized, and break-bulk. Bulk cargo vessels range from 50,000 to 150,000 DWT, and are considered to be one of the bigger vessels. These vessels included ore carriers, bulk carriers, combination carriers, and timber carriers for dry bulk, oil, and ore. Break-bulk general cargo ships are self-sustaining in cargo handling, i.e. they do not require on-shore handling equipment. 

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In terms of cargo equipment, the marine cargo handling market can be segmented into container handling crane, stackers-reclaimer, ship loader, ship unloader, forklift, specially designed truck, and passenger gangway. The container handling crane is specially designed crane to load and discharge containers from ships and to the ships. 

The global marine cargo handling market is anticipated to expand significantly due to increasing marine traffic. Emerging nations such as India, China, Brazil, and Russia are investing in new marine port construction. However, cargo operators are capitalizing on advanced technology equipment to reduce loading and discharging time and improve its operating efficiency. This is likely to boost the marine cargo handling market. However, stringent fuel consumption and emission regulations in the U.S. and Europe are replacing with hybrid and electric equipment by diesel-based equipment. This is also likely to fuel the marine cargo industries. Additionally, rising burden from increasing traffic at marine ports is expected to raise the demand for cargo handling equipment. High initial investment is required in order to install advanced cargo handling equipment, which is limiting the growth of hybrid and electric equipment, particularly in Asia Pacific. This may act as a restraint for the expansion of the marine cargo handling market. 

In terms of geography, the global marine cargo handling market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is a key player in the global marine cargo handling industry. Asia Pacific is estimated to continue its dominance in the global marine cargo handling market due to the anticipated expansion of the end-use industries. Asia Pacific is followed by Europe and North America, in terms of market share. Ports on the east west and gulf coasts of the US contain public facilities governed by port authorities and private-held terminals. The west coast trade has accounted for more than 50% of the total container of water-borne trade in the U.S. 

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Key players operating in the global marine cargo handling market include NEW LIGHT CARGO SYSTEM LLC, Holt Cargo Systems Inc., Cargo Express Inc., Shell Global, Blue Water Group LTD, and OCEANAIR CARGO INC.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

·         Customer Experience Maps

·         Insights and Tools based on data-driven research

·         Actionable Results to meet all the business priorities

·         Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

·         North America

·         Asia Pacific

·         Europe

·         Latin America

·         The Middle East and Africa