Market Trends of Global Container Terminal Operations Industry
This section covers the major market trends shaping the Container Terminal Operations Market according to our research experts:
Rise in Container Seaborne Trade is a Major Driver
Maritime shipping is the backbone of world trade; it is estimated that some 80 percent of all goods are carried by sea. With the growth of the world economy over the past decades, the volume of freight transported by ships has increased as well. In 2020, about 1.85 billion metric tons of cargo were shipped globally.
In 2020, the leading container-handling ports worldwide were located in the Asia-Pacific region. The port of Shanghai was the busiest container port in the world, handling about 47 million TEUs of containerized cargo in 2020. In addition to the Asia-Pacific region, North America and Europe are important hubs for containerized cargo as well. In its 2020 fiscal year, the Port of Los Angeles handled almost 10.9 million TEUs, making it the largest container port in the United States. In Europe, the Port of Rotterdam topped the ranking as the largest container port on the continent, handling nearly 8.9 million containers in 2021.
In January 2022, the global container shipping throughput recorded an index value of 123.3, an increase from 118.2 in December 2021, but lower than the value of 124.3 reported in August 2021. Container throughput in Europe shot up in 2021, rising by 4.6 percent compared to the previous year when the throughput had contracted by 3.2 percent.
Increasing Maritime Trade
According to data published by the United Nations Conference on Trade and Development (UNCTAD), globalization has caused a steep increase in maritime trade over the past few decades. In 2019, the global maritime trade volume amounted to just over 11 billion metric tons of goods loaded, whereas, in 2020, this volume amounted to some 10.6 billion metric tons.
In 2020, around 1.85 billion tons of containerized cargo and some 3.2 billion tons of bulk cargo were loaded in ports worldwide. In 2020, Asia accounted for most of the global maritime trade. Ports in Asia were responsible for loading almost 42 percent and unloading roughly 67 percent of all goods transported by sea worldwide. Some of the biggest ports in the world are located in Asia, mainly in China.
The surge in global sea trade is expected to increase the demand for product maritime transport, which is the pillar of international trade and the global economy. A rise in seaborne trade across the globe is expected to fuel the growth of the market during the global marine vessel industry forecast period. Moreover, the rapid expansion of the developing countries and globalization is expected to play a major role in the increasing maritime trade.
