Rockville, MD, Dec. 05, 2024 (GLOBE NEWSWIRE) -- According to a newly published report by Fact.MR, a market research and competitive intelligence provider, the global marine & container terminal operations market is analyzed to reach US$ 70.75 billion in 2024. The market is projected to advance at a CAGR of 6.9% between 2024 and 2034.
As international trade continues to rise, demand for marine and container port operations is rising at a noteworthy rate. These essential logistics centers, which include everything from sophisticated digital tracking systems to freight handling, provide the foundation of global trade.
The varied capabilities and substantial advantages of terminals are the cause of the rising demand. In addition to offering economic benefits, such as job creation and increased supply chain efficiency, modern facilities offer necessary services, including automated cargo handling, intermodal connectivity, and real-time tracking. In today's sustainability-focused business, their contribution to lowering transportation costs and environmental effect through consolidated shipping has grown in value.
Terminals are becoming intelligent logistics hubs thanks to the incorporation of cutting-edge technology, such as artificial intelligence and automated guided vehicles. Because of this technical advancement and their capacity to manage increasing cargo quantities effectively, maritime and container terminals are now essential to international trade, which is fueling further growth and investment in port infrastructure throughout the globe.
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Key Takeaways from the Market Study:
- The global marine & container terminal operation market is forecasted to attain a valuation of US$ 137.95 billion by the end of 2034.
- The market in Japan is approximated to advance at a CAGR of 6.5% between 2024 and 2034.
- The North American market is evaluated to reach the threshold of US$ 12.36 billion by 2034-end.
- The market in Canada is forecasted to reach a worth of US$ 1.4 billion by the end of 2034.
- Based on the product and services, the terminal operations segment is projected to progress at a CAGR of 7.03% between 2024 and 2034.
- The East Asia region is approximated to expand at a CAGR of 7.7% through 2034.
“The market for marine and container terminal operations is expanding with the effective capabilities in enabling efficient cargo consolidation and supporting industrial development,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Marine & Container Terminal Operation Market:
APM Terminals; DP World; Hutchinson Ports; COSCO Shipping Ports; SSA Marine; PSA International; Port of Rotterdam Authority; Yang Ming Marine Transport Corporation
Widespread Adoption of Marine & Container Terminal Operation Services with Constant Improvements in Logistics
As international trade continues to rise, demand for marine and container port operations is rising at a significant rate. These essential logistics centers, which include everything from sophisticated digital tracking systems to freight handling, provide the foundation of global trade. The varied capabilities and substantial advantages of terminals are the cause of the rising demand. In addition to offering economic benefits, such as job creation and increased supply chain efficiency, modern facilities offer necessary services, which include automated cargo handling, intermodal connectivity, and real-time tracking. In today's sustainability-focused business, their contribution to lowering transportation costs and environmental effect through consolidated shipping has grown in value.
Terminals are becoming intelligent logistics hubs thanks to the incorporation of cutting-edge technology, including artificial intelligence and automated guided vehicles. Because of this technical advancement and their capacity to manage increasing cargo quantities effectively, maritime and container terminals are now essential to international trade, which is fueling further growth and investment in port infrastructure throughout the globe.
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Marine & Container Terminal Operation Industry News:
- In September 2023, International Container Terminal Services, Inc. (ICTSI) released the ICTSI App to give port customers and businesses real-time cargo visibility. This program is a safe operating tool that enables cargo owners and port users to monitor the movement of their cargoes into and out of the port, as well as those loaded and unloaded from a vessel, according to ICTSI. The ICTSI App now has about 29,000 users and will soon be available to clients at additional port locations.
- HHLA PLT Italy, Hamburger Hafen und Logistik AG's (HHLA) multipurpose port in Trieste, Italy, welcomed container transport company Ocean Network Express (ONE). ONE makes its first trip to the city in the northern Adriatic as part of the inauguration of the new Adriatic Israel Butterfly (AIB) service. HHLA PLT Italy gains more access to relevant markets and solidifies its position as a major hub in the Adriatic region as a result of this partnership.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the marine & container terminal operation market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product & service (terminal operation, other services), and major market (ship agents, shipping lines, freight arrangers), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).
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