Latin America Stevedoring and Marine Cargo Handling Market Size (2024 - 2029)

The Latin America stevedoring and marine cargo handling market is poised for significant expansion, driven by increased marine traffic and investments in new port constructions by emerging nations in the region. Despite recent economic challenges and disruptions caused by the Covid-19 pandemic, the market is benefiting from technological advancements that enhance operational efficiency, such as automation and improved ship propulsion. These developments, along with strategic changes in the maritime sector, are expected to contribute to the growth of the market size during the forecast period.

Market Size of Latin America Stevedoring and Marine Cargo Handling Industry

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Latin America Stevedoring and Marine Cargo Handling Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 4.00 %
Market Concentration Medium

Major Players

Latin America Stevedoring and Marine Cargo Handling Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Latin America Stevedoring & Marine Cargo Handling Market Analysis

The Stevedoring and Marine Cargo Handling market in Latin America is expected to grow at a CAGR of more than 4% during the forecast period.

  • Over the past two years, the Latin American region has underperformed in terms of global economic growth. Due to the Covid-19 epidemic, the global gross domestic product (GDP) climbed by 2.5% in 2019 and declined by 3.5% in 2020.
  • The maritime market and port sector in Latin America is experiencing profound changes in its organization (concentration of supply, strategic alliances, vertical integration between terminal operators and shipping companies) and technology (greater supply capacity of ships and ports, automation and electrification of port terminals, greater efficiency in ship propulsion, etc.)
  • The number of container ship arrivals in Panama increased by 22% as more container ships transited through the Panama Canal to avoid congestion in the US West Coast ports, increasing port calls including bunkering and crew changes. Among the top 30 economies by vessels arrivals for loading of dry bulk vessels, 12 recorded more than 50% increases in waiting time for loading, with Colombia recording one of the three highest increases in addition to Oman and Norway. In Colombia, COVID-19-related restrictions disrupted not only port operations but also coal mining and rail transportation, leading to an increase in ships' waiting time for loading.
  • The Latin America stevedoring and marine cargo handling market is anticipated to expand significantly due to increased marine traffic. Moreover, emerging nations in Latin America are investing in new marine port construction. However, cargo operators are capitalizing on advanced technology equipment to reduce loading and discharging time and improve their operating efficiency. This is likely to boost the market during the forecast period.

Latin America Stevedoring & Marine Cargo Handling Industry Segmentation

Companies in this industry provide stevedoring and other marine cargo handling services. Stevedore 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 Latin America Stevedoring and Marine Cargo Handling Market is segmented by Type (Stevedoring, Cargo and handling transportation, and Others), By Cargo Type (Bulk Cargo, Containerized Cargo, and Other Cargo), and by Geography (Brazil, Mexico, Argentina, and the Rest of Latin America). The market size and forecast are provided in terms of value (USD Billion) for all the above segments. Furthermore, this report covers market insights, such as market dynamics, drivers, restraints, opportunities, technological innovation, its impact, and porter's five forces analysis. In addition, the report also provides company profiles to understand the competitive landscape of the market.

Type
Stevedoring
Cargo and handling transportation
Others
Cargo Type
Bulk Cargo
Containerized Cargo
Other Cargo
Country
Brazil
Argentina
Mexico
Rest of Latin America
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Latin America Stevedoring and Marine Cargo Handling Market Size Summary

The Latin America stevedoring and marine cargo handling market is poised for significant growth, driven by increased marine traffic and investments in new port infrastructure by emerging nations in the region. The market is undergoing transformative changes, with a focus on strategic alliances, vertical integration, and technological advancements such as automation and electrification of port terminals. These developments are aimed at enhancing efficiency and capacity in response to the growing demand for maritime trade. The region's ports, particularly in Panama, Peru, Mexico, Brazil, and Colombia, are leading in digital transformation efforts, adopting innovative technologies like artificial intelligence, blockchain, and robotics to streamline operations and improve supply chain performance.

Despite the challenges posed by the COVID-19 pandemic, which disrupted containerized trade and led to increased waiting times for loading in some countries, the market is expected to expand due to the recovery of seaborne trade and the rise of e-commerce. Key players in the market, including A.P. Moller - Maersk, Mediterranean Shipping Co, and CMA CGM Group, are actively participating in mergers and acquisitions to enhance their service offerings and expand their regional presence. However, the market faces challenges such as high capital costs for cargo handling equipment and the need for better synchronization among various equipment types. Overall, the Latin America stevedoring and marine cargo handling market is set to grow, supported by technological advancements and strategic investments in port infrastructure.

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Latin America Stevedoring and Marine Cargo Handling Market Size - Table of Contents

  1. 1. MARKET INSIGHTS AND DYNAMICS

    1. 1.1 Current Market Scenario

    2. 1.2 Technological Trends and Automation in Ports

    3. 1.3 Government Regulations and Key Initiatives

    4. 1.4 Insights into Transshipment Trade

    5. 1.5 Insights into Containerized and Non-containerized Shipments

    6. 1.6 Insights on Stevedoring Services and Charges in the Ports

    7. 1.7 Insights on Bunkering Services

    8. 1.8 Insights on Investments in the Maritime Industry

    9. 1.9 Insights on the Number of Establishments and the Maritime Sector's Contribution to the Total Services Sector

    10. 1.10 Impact of COVID-19 on the Market

    11. 1.11 Market Dynamics

      1. 1.11.1 Market Drivers

      2. 1.11.2 Market Drivers

      3. 1.11.3 Market Opportunities

    12. 1.12 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.12.1 Threat of New Entrants

      2. 1.12.2 Bargaining Power of Buyers/Consumers

      3. 1.12.3 Bargaining Power of Suppliers

      4. 1.12.4 Threat of Substitute Products

      5. 1.12.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Stevedoring

      2. 2.1.2 Cargo and handling transportation

      3. 2.1.3 Others

    2. 2.2 Cargo Type

      1. 2.2.1 Bulk Cargo

      2. 2.2.2 Containerized Cargo

      3. 2.2.3 Other Cargo

    3. 2.3 Country

      1. 2.3.1 Brazil

      2. 2.3.2 Argentina

      3. 2.3.3 Mexico

      4. 2.3.4 Rest of Latin America

Latin America Stevedoring and Marine Cargo Handling Market Size FAQs

The Latin America Stevedoring and Marine Cargo Handling Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

A.P. Moller - Maersk, Mediterranean Shipping Co, COSCO Group, CMA CGM Group and Hapag-Lloyd are the major companies operating in the Latin America Stevedoring and Marine Cargo Handling Market.

Latin America Stevedoring and Marine Cargo Handling Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)