New York, March 21, 2023 (GLOBE NEWSWIRE) -- The global Automated Container Terminal Market size totaled US$ 10 billion in 2022. By the end of 2032, the worldwide market valuation is set to reach US$ 20.3 billion. Global automated container terminal demand will soar at 7.3% CAGR between 2023 and 2032.
Semi-automation segment currently holds a prominent share of the global market. Over the next ten years, the target segment will exhibit a CAGR of 7.2%.
Growing adoption of automation in container terminals is driving the global market forward. Subsequently, robust expansion of specialized maritime port infrastructure globally will propel demand.
In recent years, adoption rate of automation across ports has increased substantially. Over the next ten years, this trend will further escalate. This is due to various advantages of automated container ports over conventional ones.
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Automated container terminals are much safer than conventional ones. Adoption of automation helps ports to reduce human intervention and workplace accidents. It also improves overall productivity and reduces labor costs.
Growing awareness about benefits of automated container terminals will boost the global market. Besides this, increasing demand for big cargo ships is likely to support market expansion.
The requirement to work more quickly and effectively will also lead to an increase in the demand for automated container terminals. Big-rising countries will enthusiastically adopt this technology as they attempt to modernize their capital-intensive technologies.
The fierce competition between the rivals is another factor driving the advancement of the technology utilized in the creation of automated container terminals. As a result, the market will have even better opportunities to expand and prosper.
Key Takeaways from Automated Container Terminal Market Report:
- Global demand for automated container terminals will rise at 7.3% CAGR through 2032.
- By automation, semi-automation segment will thrive at 7.2% CAGR over the next decade.
- Based on product, services category will expand at 7.1% CAGR between 2022 and 2032.
- The USA automated container terminal market is likely to cross US$ 3.0 billion mark by 2032.
- Automated container terminal demand across China will increase at 8.8% CAGR.
- Korea automated container market is forecast to progress at 7.8% CAGR through 2032.
- Sales in Japan market will total a valuation of US$ 3.6 billion by the end of 2032.
“Rising import and export could open new growth windows for automated container terminal market. Besides this, expansion of maritime port facilities will elevate demand through 2032.” Says a Persistence Market Research analyst.
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Who is Winning?
Konecranes, ABB, Cargotec, ZPMC, ORBCOMM, Liebherr, Camco Technologies, Künz, IDENTEC Solutions, and CyberLogitec are few of the leading players in the automated container terminal market.
New product launches, mergers, acquisitions, partnerships, and collaborations are key strategies adopted by these companies. They are also launching new services to meet end user demand.
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the automated container terminal market, presenting historical market data (2017 to 2021) and forecast statistics for the period from 2023 to 2032.
The study reveals extensive growth in the automated container market in terms of
- Automation (semi-automation, fully automation, and quay crane),
- Product (software, equipment, and services),
- Project (Greenfield projects and Brownfield projects)
- Regions ( North America, Latin America, Europe, Asia Pacific, Middle East and Africa)
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