Marine Port Services Market Forecasts to 2030 – Global Analysis By Port Type (Dry Ports, Bulk Cargo Ports, Passenger Ports, Fishing Ports and Other Port Types), Service Type, End User and By Geography

Marine Port Services Market Forecasts to 2030 – Global Analysis By Port Type (Dry Ports, Bulk Cargo Ports, Passenger Ports, Fishing Ports and Other Port Types), Service Type, End User and By Geography

According to Stratistics MRC, the Global Marine Port Services Market is accounted for $91.2 billion in 2023 and is expected to reach $141.8 billion by 2030 growing at a CAGR 6.5% during the forecast period. Marine port services encompass a range of logistical and operational activities vital for the efficient functioning of ports. These services include vessel berthing and unberthing, cargo handling, storage, customs clearance, and vessel maintenance. Additionally, port services extend to administrative tasks such as documentation processing and security operations. Efficient port services are crucial for facilitating international trade, ensuring timely delivery of goods, and optimizing overall port performance while adhering to safety and regulatory standards.

According to the plan, the Phase 1 operation of the Port of Tuas will include 21 deepwater berths capable of handling 20 million TEU per year when fully operational.

Market Dynamics:

Driver:

Increasing global trade

Ports serve as vital hubs facilitating the exchange of goods across borders, with increased demand for services such as cargo handling, vessel servicing, and logistics management. This surge in global trade underscores the need for efficient and scalable port infrastructure, spurring investments in port modernization and expansion projects worldwide. As trade volumes continue to grow, the market is poised for further expansion, offering ample opportunities for stakeholders to capitalize on this trend.

Restraint:

Cybersecurity threats

The market faces a myriad of cybersecurity threats, including but not limited to, ransomware attacks targeting critical infrastructure and supply chain vulnerabilities leading to potential breaches. With increasing digitization and interconnectedness, ports are exposed to cyber-attacks on their operational technology (OT) systems, risking disruptions to port operations, cargo handling, and vessel traffic management. Vigilant cybersecurity measures are imperative to safeguard against these evolving threats and ensure the resilience of marine port services.

Opportunity:

Infrastructure development

Infrastructure development in the market is crucial for enhancing operational efficiency and accommodating larger vessels. Investments in modernizing port facilities, such as deepening channels, expanding berths, and deploying advanced cargo handling equipment, facilitate smoother cargo movement and turnaround times. Additionally, upgrading terminal infrastructure for improved connectivity and implementing digital solutions for better logistics management are key trends driving innovation in this sector. These developments ultimately bolster port competitiveness and support the growth of global trade.

Threat:

Environmental concerns

Operations such as shipping, cargo handling, and vessel maintenance contribute to air and water pollution, habitat destruction, and species endangerment. Port authorities and operators are under pressure to adopt sustainable practices, including shore power for vessels, emission control technologies, and waste management systems. Regulations governing ballast water discharge, fuel emissions, and noise pollution are becoming increasingly stringent. Therefore, this is the major factor restraining the growth of the market.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the Marine Port Services market, causing disruptions in global trade and supply chains. Port operations faced challenges due to reduced shipping traffic, workforce shortages, and logistical bottlenecks. Lockdown measures and restrictions on travel further hampered port activities, leading to decreased cargo volumes and revenue losses for port operators. Despite gradual recovery, uncertainty lingers, prompting port authorities to adapt with enhanced safety measures and digitalization to mitigate future disruptions.

The passenger ports segment is expected to be the largest during the forecast period

The passenger ports segment is expected to be the largest during the forecast period due to increasing demand for travel and tourism activities globally. With advancements in infrastructure and technology, passenger ports are enhancing their capacity and efficiency to accommodate larger vessels and cater to growing passenger traffic. Furthermore, the integration of digital solutions is streamlining operations and improving the overall passenger experience, contributing to the positive trajectory of the passenger ports sector within the market.

The military segment is expected to have the highest CAGR during the forecast period

The military segment is expected to have the highest CAGR during the forecast period. Military presence often includes surveillance, vessel inspections, and protection against threats such as piracy or terrorism. Additionally, they facilitate the movement of military personnel and equipment, coordinate with port authorities, and may conduct joint exercises with allied forces. This integration enhances port efficiency, resilience, and readiness, vital for national defense and global maritime operations.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. The marine port services market in the region is highly competitive, with ports vying for market share and striving to attract shipping lines and cargo owners through competitive pricing, efficient services, and strategic partnerships. The adoption of digital technologies, automation, and data analytics is transforming port operations in the region, driving efficiency gains, reducing costs, and improving decision-making processes.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period. The rapid economic growth in countries like China and India has led to increased demand for raw materials, manufactured goods, and energy resources, all of which are transported through maritime routes. Many countries in the region have been investing heavily in port infrastructure to accommodate larger vessels and improve efficiency. The increasing volume of imports and exports has been driving the demand for marine port services.

Key players in the market

Some of the key players in Marine Port Services market include International Container Terminal Services Inc., Mediterranean Shipping Company, COSCO Shipping Ports Limited, Ningbo Zhoushan Port Company Limited, Hamburger Hafen Und Logistik AG, DP World Limited, Tianjin Port Development Holdings Ltd, Hutchison Port Holdings, PSA International, China Merchants Port Holdings Company Limited, Shanghai International Port, Nippon Yusen Kaisha, Mitsui O.S.K. Lines and Evergreen Marine.

Key Developments:

In September 2023, International Container Terminal Services, Inc. (ICTSI) announced the ICTSI App to give port users and businesses real-time cargo visibility. The ICTSI App is a secure operative tool that enables port users and cargo owners to monitor the status of their shipments loaded and offloaded from a vessel and those hauled in or out of the port, according to ICTSI.

In July 2023, International Container Terminal Services Inc. (ICTSI) received a 25-year contract to operate and develop a South African terminal handling Durban Container Terminal (DCT) Pier 2 in the Port of Durban.

In May 2023, Ningbo Zhoushan Port and Zhejiang Seaport signed a MoU with DP World, located in Dubai's Jebel Ali Free Trade Zone, to jointly develop comprehensive strategic cooperation in automotive logistics and services for the entire automotive industry chain.

Port Types Covered:
• Dry Ports
• Bulk Cargo Ports
• Passenger Ports
• Fishing Ports
• Other Port Types

Service Types Covered:
• Container Handling Services
• Warehousing and Storage Services
• Ship Repair and Maintenance Services
• Vessel Agency Services
• Marine Equipment Rental Services
• Other Service Types

End Users Covered:
• Tourism
• Military
• Logistics
• Oil and Gas
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements