According to a new market report published by Lucintel, the future of the marine port and service market looks promising with opportunities for the container handling services, ship repair and maintenance services, and navigation services. The marine port and service market is expected to reach an estimated $93.6 billion by 2024 and it is forecast to grow at a CAGR of 4.4% from 2019 to 2024. The major drivers of growth for this market are high growth of the marine freight transportation market and surging demand of containerized and bulk cargo. Increasing global exports, rising customer (shipping companies) demand, and expansion of new regional trade hubs are the additional factors contributing to accelerated growth.

In this market, container handling services, ship repair and maintenance services, navigation services, supply chain and logistic solution services, and mechanical and electrical engineering services are the operating segments in the marine port and service market. Navigation services are expected to depict above average growth during the forecast period. Lucintel adds that the demand for navigation services is expected to experience the highest growth in the forecast period, supported by an increase in marine freight transportation, which in turn increases the calls of vessels at ports. On the basis of its comprehensive research, Lucintel forecasts that navigation services, supply chain and logistic solutions, and ship repair and maintenance services are expected to show above average growth during the forecast period.
Within the marine port and service market, the container handling service segment is expected to emerge as the leading market by value, followed by the ship repair and maintenance service segment. Due to an increase in containerization, market players are adopting advanced handling equipment for fast operation. This increase of world container throughput (capacity) is expected to spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to tremendous economic growth in China and India. Europe and North America are expected to grow significantly due to increasing industrial production, high international trade, and subsequent rise in the demand for marine freight transportation.
Emerging trends, which have a direct impact on the dynamics of the market include vessel traffic services (VTS), self-unloading bulk carrier technology, and marine port privatization. DP World Limited, APM Terminals, CK Hutchison Holding Limited, PSA International, Ningbo Port Company, Shanghai International Port, Mitsubishi Logistics Corporation, Hamburger Hafen und Logistik AG, Tianjin Port, and Patrick-Asciano are the major service providers in the marine port and services market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the marine port and service market by service type and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Marine Port and Service Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the marine port and service market by service type and region, as follows:


By Service Type ($ Billion from 2013 to 2024)
• Container Handling Services
• Navigation Services
• Ship Repair and Maintenance Services
• Supply Chain and Logistic Solution Services
• Mechanical and Electrical Engineering Services

By Region ($ Billion from 2013 to 2024)
• North America
o US
o Canada
o Mexico
• Europe
o United Kingdom
o France
o Russia
o Spain
o Germany
• Asia Pacific
o Japan
o China
o Indonesia
o India
o South Korea
• The Rest of the World
o Brazil
o Argentina
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. We offer market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high growth opportunities for the marine port and service market by service type (container handling services, ship repair and maintenance services, navigation services, supply chain and logistic solution services, and mechanical and electrical engineering services) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing services in this market and how big of a threat do they pose for loss of market share by service substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?