Pune, Sept. 19, 2023 (GLOBE NEWSWIRE) -- “The SNS Insider report projected that the Terminal Automation Market, which stood at USD 7.35 billion in 2022, is poised to attain USD 11.19 billion by 2030, with a compound annual growth rate (CAGR) of 5.40% anticipated over the forecast span from 2023 to 2030.”
Market Overview
Terminal automation refers to the integration of advanced technology and software solutions to streamline and optimize the operations of a terminal or port facility, where goods are loaded, unloaded, and transferred between different modes of transportation, such as ships, trucks, and trains. One of the primary applications of terminal automation is the use of robotic cranes and automated guided vehicles (AGVs) to load and unload shipping containers from vessels and move them within the terminal. This reduces the need for manual labor and accelerates the handling process.
Market Analysis
The terminal automation market has been experiencing significant growth in recent years, driven by several key factors that are reshaping the logistics and transportation industries. The continued growth of international trade has led to an increased demand for efficient and cost-effective terminal operations. Terminal automation helps streamline processes, reduce turnaround times, and optimize resource allocation, making it an essential solution for handling growing trade volumes. Stringent safety and environmental regulations in the shipping and logistics industry have pushed terminals to invest in automation technologies that ensure compliance. Automated systems are designed with safety features that minimize accidents and reduce the risk of hazardous incidents, making them indispensable in today's regulatory environment. Many regions are experiencing shortages of skilled labor in the logistics sector. Terminal automation offers a solution to this challenge by reducing the reliance on manual labor. This is particularly relevant in times of labor strikes, as automated systems can help maintain operations.
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Major Players Included in this Report are:
The major players are ABB Ltd., Honeywell International Inc., Siemens AG, Yokogawa Electric Corporation, Rockwell Automation Inc., Schneider Electric, Emerson Electric Co., Endress+Hauser Management AG., TechnipFMC plc, Implico Group, other players
Terminal Automation Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 7.35 Bn |
| Market Size by 2030 | US$ 11.19 Bn |
| CAGR | CAGR of 5.40% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Key Takeaway from Terminal Automation Market Study
- In the realm of terminal automation, the Greenfield Projects segment is poised to assert its dominance. Greenfield projects refer to the development of new, from-the-ground-up facilities in various industries, including logistics, manufacturing, and energy. When it comes to terminal automation, these projects offer a unique opportunity for innovation and efficiency, making them a frontrunner in shaping the future of the industry.
- In the dynamic landscape of terminal automation, the Oil & Gas segment stands as a formidable force, wielding significant influence and innovation. Terminal automation within the Oil & Gas industry plays a critical role in enhancing operational efficiency, ensuring safety, and meeting stringent regulatory standards.
Recent Developments
- APM Terminals, one of the world's leading container terminal operators, has forged a strategic alliance with China's ZPMC (Shanghai Zhenhua Heavy Industries Co., Ltd.) to accelerate the automation and digitalization of their terminal operations. This collaboration represents a significant milestone in the global shipping industry, aiming to enhance efficiency, productivity, and sustainability across container terminals worldwide.
- Festo, a global leader in automation technology, has once again revolutionized the textile industry with the launch of its cutting-edge Motion Terminal VTEM. This innovative solution promises to transform textile automation by offering a host of unique features and capabilities that will redefine efficiency, precision, and flexibility in textile manufacturing.
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Market Dynamics Analysis
The terminal automation market is experiencing a dynamic landscape driven by several key factors. One of the primary drivers is the increasing demand for efficiency and safety in terminal operations across industries such as oil and gas, chemicals, and logistics. Automation technologies offer enhanced control and monitoring capabilities, reducing the risk of human error and enhancing overall productivity. Moreover, the growing emphasis on environmental sustainability is pushing terminal operators to adopt automation solutions that optimize energy consumption and minimize emissions. However, this industry is not without its restraints and challenges. The initial capital investment required for implementing terminal automation systems can be substantial, deterring smaller players from adoption. Additionally, the complexity of integrating automation solutions with existing infrastructure and the need for skilled personnel to operate and maintain these systems pose significant challenges. In terms of threats, the market faces potential disruptions due to geopolitical tensions, supply chain disruptions, and economic uncertainties that can affect investments in infrastructure and automation projects.
Key Regional Developments
North America has been at the forefront of terminal automation market. The region's focus on enhancing operational efficiency, reducing labor costs, and improving safety has led to increased investments in terminal automation solutions. Europe's strong commitment to environmental sustainability has driven investments in automation technologies that reduce carbon emissions and enhance energy efficiency in terminal operations. The Asia-Pacific region is experiencing rapid industrialization and urbanization, leading to increased container traffic at ports. Automation is seen as a solution to handle this surge efficiently.
Impact of Recession on Terminal Automation Market Growth
An ongoing recession can certainly pose challenges to the terminal automation market, leading to reduced investment, project delays, and pricing pressures. However, the severity of these impacts can vary depending on the duration and depth of the recession, as well as the specific industries and regions involved. Terminal automation companies will need to adapt to changing market conditions, possibly by offering more flexible financing options or focusing on industries less affected by economic downturns to weather the storm and emerge stronger when economic conditions improve.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Terminal Automation Market, By Offering
9. Terminal Automation Market, By Project type
10. Terminal Automation Market, By Vertical
11. Regional Analysis
12. Company profile
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion
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