Marine Port Services Market Size - By Service (Container Handling, Ship Repair & Maintenance, Navigation, Supply Chain & Logistics, Mechanical & Electrical), By Port, By End User (Shipping Companies, Ports and Terminals, Cargo Owners) & Forecast, 2024 - 2032

Marine Port Services Market Size

Marine Port Services Market size was valued at USD 88.8 billion in 2023 and is estimated to register a CAGR of over 4% between 2024 and 2032. The surging focus on environmental sustainability and the higher implementation of eco-friendly practices in marine ports for reducing emissions and minimizing waste will shape market growth. The growing need of shore power for vessels is driving the rise in green port initiatives and eco-friendly infrastructure development.
 

For instance, in May 2023, APEC (Asia-Pacific Economic Cooperation) launched a green collaboration initiative to strengthen its commitment to limit greenhouse gas emissions across the maritime sector whilst helping policymakers in incorporating new and cleaner maritime practices and technologies. The surging adoption of renewable energy sources, such as solar, wind, and hydroelectric, by power port facilities and equipment along with reducing reliance on fossil fuels will also boost industry development.
 

The rising investments for expanding and upgrading infrastructure of marine ports worldwide to accommodate larger vessels and increase cargo handling capacities will augment the industry development. For instance, in December 2022, the Indian government invested around USD 25 billion in planned upgrades for boosting shipping and port infrastructure. The construction of larger terminals, deeper berths, and improved intermodal connections has also picked significant ground in recent years.
 

The marine port services market includes challenges such as overcapacity in major ports, leading to congestion, thereby affecting efficiency and turnaround times for vessels. Economic downturns and fluctuations in global trade volumes can reduce shipping activity and port revenues. Regulatory compliance burdens, particularly with environmental standards and safety regulations, increase operational costs. Limited investments in infrastructure upgrades and modernization can constrain port capacity and competitiveness. Additionally, geopolitical tensions and trade conflicts pose risks of disruption to international shipping routes and port operations. Navigating these pitfalls requires adaptive strategies, technological innovation, and collaborative efforts to sustain growth and resilience in the market.
 

Marine Port Services Market Trends

Investments in port infrastructure and technology upgrades, such as automation and digitalization, improve operational efficiency and competitiveness. The development of specialized terminals for handling bulk and liquid cargo caters to industry-specific needs. The rising adoption of technologies, such as big data analytics, AI-driven predictive maintenance, and blockchain for secure transactions, is making way for enhanced efficiency, optimized logistics, and improved decision-making processes.
 

In April 2023, A*STAR established a new center for maritime digitalization with a flagship research programme for deploying AI technologies within the maritime sector. The surge in such initiatives will assist in market development. Additionally, strategic initiatives to enhance port connectivity with inland transport networks and promote sustainable practices bolster market growth. These factors collectively support the expansion and modernization of marine port services globally.
 

Marine Port Services Market Analysis

Based on services, the market is divided into container handling, ship repair & maintenance, navigation, supply chain & logistics, mechanical & electrical, and others. The container handling services segment accounted for around 30% of the market share in 2023 and is anticipated to experience substantial growth over the forecast period. Containerization in shipping offers advantages in standardization, ease of handling as well as the ability to accommodate various types of cargo.
 

Several industries are preferring containerized shipments to bulk cargo for better protection, reduced pilferage, and easier tracking. For instance, in November 2023, Swissport, a Swiss aviation services firm, extended its presence in Australia by introducing cargo handling services at the Sydney Airport. The robust need for intermodal transportation for seamlessly transferring containers between different modes of ships, trains, and trucks will further contribute to market growth.
 

Based on port, the marine port services market is categorized into container port, bulk cargo port, break bulk port, and multi-purpose port. The bulk cargo ports segment is expected to hold around USD 31 billion market revenue by 2032. The growth can be attributed to the rising adoption of automation, AI-driven systems, IoT sensors, and data analytics in bulk cargo ports to optimize cargo handling, storage, and logistics.
 

With the growing emphasis on environmental sustainability, bulk cargo ports are increasingly implementing eco-friendly measures, such as reducing emissions by using cleaner fuels for efficient waste management. In November 2023, Misje Rederi, a Norwegian shipowner, launched Misje Flora, its fourth eco-friendly hybrid bulk carrier. Scaling investments in infrastructure upgrades will also prove favorable for the segment expansion.
 

Asia Pacific is experiencing growth in the marine port services market. The region accounted for a market share of over 40% in 2023 and is slated to register significant growth over the forecast period. With multiple ports undergoing significant upgrades for accommodating larger vessels and handling increasing trade volumes, there is a rising need for deepening channels, expanding container terminals, and investing in advanced cargo handling equipment to improve efficiency and capacity. The strong focus on improving connectivity between ports and inland transportation networks will also bolster market growth.
 

The expansion of international trade agreements and partnerships is propelling the North America marine port services market. Trade agreements such as the U.S.-Mexico-Canada Agreement (USMCA) facilitate increased trade volumes and cargo flows between North American countries. Ports on the West Coast, East Coast, and Gulf Coast benefit from enhanced connectivity and logistical efficiencies, accommodating larger vessels and diversified cargo types.
 

The Europe marine port services market is driven by increasing focus on sustainable practices and environmental stewardship. The ports in the region are increasingly adopting green initiatives to reduce carbon emissions, improve air and water quality, and minimize environmental impact. Investments in eco-friendly technologies, such as shore power for vessels, LNG bunkering facilities, and waste management systems, enhance port sustainability credentials. Regulatory frameworks promoting cleaner fuels and emissions reduction targets further drive the adoption of green technologies and practices. These efforts ensure compliance with stringent environmental standards and enhance port competitiveness and attractiveness to environmentally conscious shipping companies and cargo owners.
 

Marine Port Services Market Share

AP Moller Maersk and DP World Limited dominate the market with around 7% market share. Major players deploy various strategies to gain and expand their market share. Modernization initiatives, such as the implementation of advanced technologies such as smart port solutions, automation, and data analytics, enhance operational efficiency, attracting shipping lines and logistics partners.
 

Companies are focusing on providing value-added services, including comprehensive logistics solutions, streamlined customs processes, and efficient intermodal connectivity with rail and road networks. Strategic collaborations and alliances with key players in the supply chain ecosystem enable ports to offer integrated services, capturing a larger share of the logistics value chain.
 

Marine Port Services Market Companies

Major players operating in the marine port services industry are:

• AP Moller Maersk
• China Merchants Port
• DP World Limited
• Hamburger
• Hutchison Ports
• International Container Terminal Services
• PSA International
• Tianjin Port Development Holdings Ltd.
• Shipping Solutions and Services Ltd.
• CarboShield Inc.
   

Marine Port Services Industry News

• In November 2023, ONE launched its new West India North America (WIN) service, which connects India’s West Coast and the U.S. East Coast. The new WIN service offers a weekly route from Hazira, Nhava Sheva, Mundra to New York, Norfolk, Savannah, Charleston.
   
• In April 2023, A.P. Moller-Maersk (Maersk) inked an MOU with the Shanghai International Port Group on strategic cooperation for the Shanghai Port methanol marine fuel project for exploring the green methanol fuel-based vessel-to-vessel bunkering operations.
   

The marine port services market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2021 to 2032, for the following segments:

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Market, By Service

• Container handling
• Ship Repair & maintenance
• Navigation
• Supply chain & logistics
• Mechanical & electrical
• Others

Market, By Port

• Container port
  • Container handling
  • Ship Repair & maintenance
  • Navigation
  • Supply chain & logistics
  • Mechanical & electrical
  • Others
• Bulk cargo port
  • Container handling
  • Ship Repair & maintenance
  • Navigation
  • Supply chain & logistics
  • Mechanical & electrical
  • Others
• Break bulk port
  • Container handling
  • Ship Repair & maintenance
  • Navigation
  • Supply chain & logistics
  • Mechanical & electrical
  • Others
• Multi-purpose port
  • Container handling
  • Ship Repair & maintenance
  • Navigation
  • Supply chain & logistics
  • Mechanical & electrical
  • Others

Market, By End User

• Shipping companies
• Ports and terminals
• Cargo owners
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Southeast Asia
  • Rest of APAC 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA