New York, Nov. 29, 2023 (GLOBE NEWSWIRE) -- The global automated container terminal market size is slated to expand at ~8% CAGR between 2024 and 2036. The market is poised to garner a revenue of USD 21 billion by the end of 2036, up from a revenue of ~USD 11 billion in the year 2023.The global trade activities have been on the rise in recent years, which has led to an increase in demand for market. The volume of global trade in 2021 reached an all-time high of USD 28[R1] .5 trillion, an increase of 25% over 2020.
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The use of automated container terminals has become a necessity for port operators to handle the increased volume of containers efficiently. With the help of automated container terminals, the loading and unloading of containers can be done at a faster pace, reducing the turnaround time for ships. This, in turn, leads to increased productivity and cost savings for shipping companies.
Advancements in Technology to Boost Market Growth
The automated container terminal market has seen a surge in demand due to advancements in technology. These advancements have enabled the development of more efficient and cost-effective container terminals that can handle larger volumes of cargo with greater speed and accuracy. One such advancement is the use of Artificial Intelligence (AI) and Machine Learning (ML) algorithms in container terminal operations. These technologies enable the terminals to optimize their operations by predicting and preventing delays, reducing congestion, and improving safety.
Future, Automated Guided Vehicles (AGVs[R2] ) and Autonomous Mobile Robots (AMRs[R3] ) have also revolutionized container terminal operations. These machines can operate 24/7, reducing labor costs and increasing efficiency. They can also navigate complex container yards with ease, reducing the risk of accidents and damage to cargo.
Automated Container Terminal Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Presence Of A Large Number Of Container Terminals to Drive the Growth in the North America Region
The automated container terminal market in North America region is estimated to garner the largest revenue by the end of 2036. The increasing number of container vessels and rising demand for containerized cargo due to the growth of the e-commerce sector is a key factor driving the market in this region. Additionally, the presence of a large number of container terminals in the region is another factor contributing to the growth of the market. For instance, Located[R4] in San Pedro, California, the Port of Los Angeles is the largest container port in the United States and one of the busiest ports in the world. The Port[R5] of Long Beach, located in Long Beach, California, is the second-largest container port in the United States and a major gateway for goods entering and leaving the country.
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Rising Need For Efficient Port Operations to Drive the Growth in the Asia Pacific Region
The Asia Pacific automated container terminal market is estimated to garner the largest revenue by the end of 2036. This can be attributed to factors, including the growing trend of containerization in goods transportation, the rising need for efficient port operations and the increasing adoption of automation in port activities. Moreover due to industrialization in recent years the Asia Pacific region has witnessed a surge in maritime trade and investments in ports and terminals. A significant portion of India's trade was carried out by maritime transportation, accounting for 70[R6] % of its volume and 97 percent of its value. Consequently, this has significantly impacted the trade industry within this region thereby fueling the growth of automated container terminal markets.
Automated Container Terminal Segmentation by Automation
- Semi-Automation
- Fully Automation
- Quay Crane
The fully automation segment is anticipated to hold highest share of about 60% by the end of 2036. Automation has become increasingly important in container terminals. AI and ML have been incorporated into automated container terminals, which helps to automate processes such as loading and unloading containers, tracking containers, and managing inventory. A total of 54 container terminals are expected to be fully or partially automated in 2021, accounting for about 4.5[R7] % of the overall container terminal capacity. Automation can help reduce accidents and injuries associated with manual labor, which is becoming increasingly costly and difficult for companies to manage.
Automated Container Terminal Segmentation by Product
- Software
- Equipment
- Services
The equipment segment is anticipated to hold the largest revenue share of 50% by the end of 2036. This is mainly due to the fact that container terminals require a wide range of equipment to automate their operations, such as straddle[R8] carriers, gantry cranes, and portainers (ship-to-shore cranes), conveyors, and automated vehicles. With new technologies and automation systems constantly being developed, the demand for equipment is expected to grow in the coming years. Automated equipment and infrastructure are instrumental in helping to automate the process, from loading and unloading containers to tracking containers as they move through the terminal.
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A few of the well-known industry leaders in automated container terminal market that are profiled by Research Nester are APM Terminals, DP World Limited, Port of Hamburg Marketing, Port of Los Angeles, Port of Long Beach, Port of Barcelona, Busan Port Authority, Cargotec Corporation, Konecranes, Liebherr-International Deutschland GmbH., and other key market players.
Recent Development in the Market
- ZPMC has recently delivered a pair of automated straddle carriers to APM Terminals as part of an innovative pilot project. This project is being conducted in a terminal environment, at the Aarhus yard. During this phase they will be utilizing the prototype that was previously introduced at the beginning of 2022.
- The UAE Region's premier smart trade enabler, DP World Limited, announced its terminal operating system TOS, ZODIAC, has been fully implemented in Jebel Ali Port's Container Terminal 3 CT3. The action is another step towards DP World's UAE Region goal of being a leader in smart transformation.
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