Market Size of China Stevedoring and Marine Cargo Handling Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | 3.50 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
China Stevedoring & Marine Cargo Handling Market Analysis
The size of China Stevedoring & Marine Cargo market is USD 12.8 billion in the current year and is anticipated to register a CAGR of over 3.5% during the forecast period.
- The dominance of the Chinese economy has been largely fueled by their focus on export trade. China is making the best of its maritime shipping networks which have been key to its export-oriented economic development. To this end, China has invested in some of the largest and busiest, and most well-connected ports on the planet. Before the pandemic, the ports in China handled a net worth of 242 million TEUs of cargo. This number is four times greater than the container throughput of the USA. For more than 10 years, the Port of Shanghai has been ranked as the busiest container port in the world. Additionally, several other Chinese ports in Ningbo Zhoushan, Qingdao, Tianjin, Hong Kong, and Guangzhou, also make it to the list of the top 10 busiest container ports in the world.
- Throughput at Ningbo-Zhoushan Port increased by 52.4% annually to 2.35 million twenty-foot equivalent units in February, setting a record high. There are a total of 262 container shipping routes. In 2021, Shanghai Port has already committed to achieve a container throughput volume of 44 million TEUs in order to keep its title as the largest container port in the world by capacity. Thus growth in maritime trade has driven the china stevedoring and marine cargo handling market. In June 2022, Vostochnaya Stevedoring Company has commenced handling new regular container services offering direct connections to the Chinese ports of Tianjin and Taicang. The services are operated by SWIFT LINE, a marine line of SWIFT Transport Group.
- China's trade-oriented economy depends heavily on sea freight transit, which has also contributed significantly to the growth of the nation. The main growth factors for the Chinese maritime freight transportation sector are as follows: Due to its high level of overall competitiveness, China is displacing other Asian nations in terms of market share through organic growth. The fundamental engine driving the sector is China's phenomenal rate of economic growth.
- Due to the covid-19 epidemic in 2020, manufacturing has halted, trade volumes in numerous countries have fallen, and the shipping market's expansion has been significantly affected. The internal pandemic was successfully controlled in a relatively short period of time, the economy gradually recovered, industrial production quickly recovered, domestic products were supplied to the international market, and demand for export trade increased.
China Stevedoring & Marine Cargo Handling Industry Segmentation
Stevedoring refers to the act of loading or offloading cargo to and/or from a ship. A person or company engaged in such act is known as a stevedore. The stevedores have to be able to handle dock equipment, such as cranes and forklifts, safely and efficiently, and they need to be aware of emerging safety issues, including hazardous materials on board the ship and around the docks.
The China Stevedoring and Marine Cargo Handling Market is segmented by Type (Stevedoring, Cargo and handling transportation, others), By Cargo Type (Bulk Cargo, Containerized Cargo, Other Cargo). The report offers China Stevedoring and Marine Cargo Handling Market size and forecast values (USD billion) for all the above segments.
Type | |
Stevedoring | |
Cargo and handling transportation | |
Others |
Cargo Type | |
Bulk Cargo | |
Containerized Cargo | |
Other Cargo |
China Stevedoring and Marine Cargo Handling Market Size Summary
The China Stevedoring and Marine Cargo Handling market is a pivotal component of the country's robust export-driven economy, leveraging its extensive maritime shipping networks. China's strategic investments in some of the world's largest and most connected ports have been instrumental in facilitating its trade-oriented economic growth. The Port of Shanghai, consistently ranked as the busiest container port globally, along with other major ports like Ningbo Zhoushan, Qingdao, and Tianjin, underscores China's dominance in global maritime trade. This strategic focus on enhancing port infrastructure and expanding maritime connectivity has positioned China as a leading player in the international shipping industry, significantly contributing to the growth of its stevedoring and cargo handling sector.
The market is poised for continued expansion, driven by advancements in cargo handling technologies and increased demand for efficient logistics solutions. The integration of workflow automation and digitalization in cargo services is creating numerous growth opportunities, enhancing operational efficiency and business performance. Key industry participants, including major logistics and shipping companies, are actively engaging in mergers and acquisitions to broaden their service offerings and expand their regional presence. Additionally, China's commitment to sustainable maritime energy transportation, as evidenced by its developments in LNG dual-fuel technology, further supports the market's growth trajectory. These factors collectively underscore the dynamic nature of the China Stevedoring and Marine Cargo Handling market, highlighting its critical role in the country's economic landscape.
China Stevedoring and Marine Cargo Handling Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Current Market Scenario
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1.2 Market Dynamics
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1.2.1 Drivers
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1.2.2 Restraints
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1.2.3 Opportunities
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1.3 Value Chain/Supply Chain Analysis
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1.4 Technological Advancements
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1.5 Government Regulations and Key Initiatives
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1.6 Insights into Transshipment Trade
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1.7 Insights into Containerized and Non-containerized Shipments
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1.8 Freight Rates and Maritime Transport Costs
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1.9 Demand-Supply Analysis
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1.10 Impact of COVID-19 on the Market
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1.11 Industry Attractiveness - Porter's Five Forces Analysis
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1.11.1 Bargaining Power of Suppliers
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1.11.2 Bargaining Power of Consumers/ Buyers
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1.11.3 Threat of New Entrants
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1.11.4 Threat of Substitute Products
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1.11.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Stevedoring
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2.1.2 Cargo and handling transportation
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2.1.3 Others
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2.2 Cargo Type
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2.2.1 Bulk Cargo
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2.2.2 Containerized Cargo
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2.2.3 Other Cargo
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China Stevedoring and Marine Cargo Handling Market Size FAQs
What is the current China Stevedoring and Marine Cargo Handling Market size?
The China Stevedoring and Marine Cargo Handling Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in China Stevedoring and Marine Cargo Handling Market?
ASEAN Seas Line Co., Limited, China (Shenzhen) International Logistics and Supply Chain Fair (CILF), China Ocean Shipping Company, China Shipbuilding Trading Co., Ltd. (CSTC) and Guangzhou Shipyard International (GSI) are the major companies operating in the China Stevedoring and Marine Cargo Handling Market.