April 28, 2021
According to the business intelligence report titled ‘Global Automated container terminal Market Size, by Automation degree (Semi-automated and Fully automated), by Offering (Software, services, and equipment), by Project Type (Brownfield and greenfield) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global automated container terminal market was assessed at USD 9.51 billion in 2019 and is projected to record a yearly growth rate of 3.7% over 2020-2027, accumulating USD 12.72 billion by the end of forecast period.
An increase in number of shipping containers as well as ports worldwide is a key factor driving global automated container terminal market forecast. According to Statista, the yearly surge in global container ports throughput in 2019 was 2.3%, which increased to 3.3% in 2020. Moreover, worldwide shipping container market was valued at USD 4.60 billion in 2016 and is speculated to reach USD 11 billion by 2025.
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For the record, automated container terminal mechanizes some or all the processes of discharging ships, transport, and yard equipment operations. Moreover, it decreases downtime, improves operational efficiency, and reduces labor costs.
While rising labor cost in developed economies encourages the adoption of automated systems, need of high initial investment for system deployment will hinder global automated container terminal industry outlook.
Based on degree of automation, worldwide automated container terminal market is divided into semi- automated, and fully automated. According to offering, the industry is classified into software, equipment, and services. Speaking of project type, the marketplace is bifurcated into brownfield, and greenfield.
From the regional frame of reference, North America captured majority of global automated container terminal market share in the past year, due to increasing demand of large container ships. Meanwhile, Asia Pacific market is projected to expand rapidly over the analysis timeframe, owing to integration of IoT in terminal automation.
Key players influencing global automated container terminal market trends are Cyberlogitec Co. Ltd., Shanghai Zhenhua Heavy Industries Company Limited, Camco Technologies N.V., PACECO Corp., Liebherr Group, Cargotec Oyj, ORBCOMM, Konecranes Oyj, Identec Solutions AG, and ABB Ltd.