Port Equipment Automation Market 2024 : Key Players, Size, Trends, Opportunities and growth Analysis

Port equipment automation pertains to the usage of automated port equipment in ports. Automated trailer terminal tractors, cranes, and supporting vehicles are the key elements of an automated port. Port equipment automation reduces the involvement of humans in operation with increased efficiency.

The port equipment automation market is likely to expand at a consistent pace over the forecast period as automated ports offer higher efficiency by 20% to 25% than manually operated ports. Automated ports have better work accuracy with lower chances of accidents which enables the smooth functioning of the port with higher efficiency. Approximately 40 partly automated ports operate across the globe which are faring better in the business than manually operated ports as they entail about 25% to 50% lesser operating cost. Thus, ports are likely to adopt automation at a significant rate over the forecast period which is likely to boost the market for automated equipment such as terminal tractors and cranes. High cost of investment for port automation is the key restraint that is hampering the market for automated port equipment.

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The port equipment automation market can be segmented based on equipment mobility, types of equipment, fuel, and region.

In terms of equipment mobility, mobile equipment are likely to hold the major share of the market as mobile equipment are available on a large scale in the ports to move the containers from one end of the port to the other.  Cranes are used to load and unload the container.

Based on types of equipment, terminal tractors are likely to be the largest shareholder of the port equipment automation market as significant development toward automation have been carried out by major terminal tractor manufacturers such as Kalmar Global. On the other hand, the remaining equipment required in a port has lower volume as compared to terminal tractors.

In terms of fuel, diesel is one of the most common fuels used to run the equipment on the port; however, electrification of port equipment is taking place at a notable pace due to rising concerns about environmental issues. Furthermore, key equipment manufacturers are focusing on the development of electric equipment to gain higher port equipment automation market share over the forecast period.

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In terms of region, Asia Pacific and Latin America are likely to be dominant in the port equipment automation market. Large number of ports in Southeast Asia and China is the major driver for the port equipment automation market in the region. Moreover, the expected growth in Asia Pacific is significantly high due to presence of high potential ports in Southeast Asia.

Key players operating in the port equipment automation market are ABB, ACE World Companies, Cargotec Corporation, KoneKranes, TICO TRACTORS, Portek International Pte Ltd., and CERTUS Port Automation.

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