Port & Harbor Operations in the US - Industry Market Research Report

Port & Harbor Operations in the US - Industry Market Research Report

Port & Harbor Operations in the US

Port and harbor operators are crucial to trade for both US businesses and consumers. Operators provide docking, cargo unloading and loading services, arranging paperwork for shipments, connecting cargo with recipients and accommodating docked vessels. Demand for industry services comes from three downstream markets, importers, exporters and domestic transportation. Through the current period, demand has teetered. As global disruptions cleared up, imports began flooding the US markets again; however, at the same time, an appreciation of the US dollar has depressed demand from exporters. However, overall positive economic conditions across the US economy following COVID-19 have helped the operators offset falling exports. Another issue operators face is interest rate hikes, hikes that make it difficult for ports and harbors to expand operations and product offerings because financing these are too expensive for most companies. Despite the negative impact of interest rates and falling exports, revenue is expected to grow at a CAGR of 5.4% to $5.5 billion through the end of the period, with a 0.8% jump in 2023 alone, when profit is anticipated to reach 14.8%.

Companies in this industry operate ports, harbors (including docking and pier facilities) or canals. The main activities of this industry include loading and unloading cargo from ships, operating lighthouses, arranging paperwork for incoming shipments, operating computer systems to connect cargo with recipients and providing accommodations to docked vessels.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.