Global Port Equipment Market Opportunities and Industry Analysis to 2025
Bharat Book Bureau Provides the Trending Market Research Report on "Port Equipment Market by Equipment Type (Mooring Systems, Tug Boats, Cranes, Shiploaders, Container Lift Trucks, Reach Stackers, Forklift Trucks, Automated Guided Vehicles, Terminal Tractors, Straddle Carriers), Type, Application, Demand, and Region - Global Forecast to 2025” (https://www.bharatbook.com/marketreports/port-equipment-market-by-equipment-type-mooring-systems-tug-boats-cranes-shiploaders-container-lift-trucks-reach-stacker/1337975) under Heavy Industry Category. The report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Increasing seaborne trade across the globe and growing number of container shipments in Asia Pacific and the Middle East are the major factors for the growth of the global port equipment market.
The port equipment market size is expected to grow from USD 29.2 billion in 2018 to USD 36.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 3.30% during the forecast period. The market for port equipment is driven by numerous factors, such as the increasing seaborne trade. According to a publication of United Nations Conference on Trade and Development (UNCTAD), the global seaborne trade reached nearly 12.72 billion tons in 2017 due to the increasing global population, growing global Gross Domestic Product (GDP), rising disposable income especially in Asian countries, and growing standard of living. This has increased the import-export trade between countries to meet the demand for various goods. High capital and maintenance costs of port equipment are limiting the overall growth of the market.
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Last Update : 29 January 2019
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