Global Port Equipment Market to Reach $46.7 Billion by 2030
The global market for Port Equipment estimated at US$35.2 Billion in the year 2023, is expected to reach US$46.7 Billion by 2030, growing at a CAGR of 4.1% over the analysis period 2023-2030. Electric Port Equipment, one of the segments analyzed in the report, is expected to record a 4.1% CAGR and reach US$26.2 Billion by the end of the analysis period. Growth in the Diesel-powered Port Equipment segment is estimated at 3.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $9.4 Billion, While China is Forecast to Grow at 6.2% CAGR
The Port Equipment market in the U.S. is estimated at US$9.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.7 Billion by the year 2030 trailing a CAGR of 6.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.2 Billion by the year 2030.
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