According to the recent study the marine port and service market is projected to reach an estimated $105.5 billion by 2027 from $86.0 billion in 2021, at a CAGR of 3.5% from 2021 to 2027. Growth in this market is primarily driven by 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.
Browse 79 figures / charts and 54 tables in this 182 -page report to understand trends, opportunities and forecast in 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).
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“Container handling services market is expected to remain the largest segment during the forecast period.”
Based on service type, the marine port and service market is segmented into container handling services, ship repair and maintenance services, navigation services, supply chain and logistic solution services, and mechanical and electrical engineering services. Lucintel forecasts that the container handling services market is expected to remain the largest segment due to an increase in containerization, the industry players are adopting advanced handling equipment for fast operation.
“Asia pacific will dominate the marine port and service market in near future”
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.
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Major players of marine port and service market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. 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, Patrick-Asciano are among the major marine port and service providers.
This unique 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 click on this link https://www.lucintel.com/marine-port-and-service-market.aspx or helpdesk@lucintel.com
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Some of the Key Questions answered in this exclusive report are:
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 What are the business risks and threats to the marine port and service market?
Q.4 What are some changing demands of customers in the marine port and service market?
Q.5 What are the new developments in the marine port and service market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this marine port and service area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this marine port and service market?