Rise in demand for cargo transportation through ships, increased need for workplace safety in industrial applications, and focus on renewable energy development drive the growth of the global ship loader and unloader market.
PORTLAND, Ore., Sept. 15, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Ship Loader and Unloader Market by Product Type (Stationary and Mobile), Bulk Type (Dry, and Liquid), Technology (Mechanical and Pneumatic), and Application (Mining, Machinery, Construction, Sea Ports & Cargo Terminals, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global ship loader and unloader industry generated $39.77 billion in 2020, and is projected to reach $57.87 billion by 2030, witnessing a CAGR of 3.6% from 2021 to 2030.
Prime determinants of growth
Rise in demand for cargo transportation through ships, increased need for workplace safety in industrial applications, and focus on renewable energy development drive the growth of the global ship loader and unloader market. However, fluctuation in raw material prices and high operational and equipment costs hinder the market growth. On the other hand, increase in demand for prefabricated construction and automation in ship loaders and unloaders create new opportunities in the coming years.
Owing to lockdown measures implemented in various countries to curb the spread of Covid-19, there have been delays in manufacturing activities of ships and transportation of products from one port to another.
The daily operations in the application industries such as mining, construction, and others have been restricted due to lockdown measures and lack of workforce. This led to reduced demand for ship loaders and unloaders. However, the demand is expected to rise steadily during the post-lockdown.
The stationary segment to continue its lead position during the forecast period
Based on product type, the stationary segment accounted for the highest share in 2020, contributing to nearly two-thirds of the global ship loader and unloader market, and is projected to continue its lead position during the forecast period. This is due to its features such as bulk material handling capacity, high flexible loading booms, post-Panamax vessels, and cost-effective design. However, the mobile segment is expected to manifest the highest CAGR of 4.0% from 2021 to 2030, owing to features such as high efficiency and remote accessibility and increase in adoption in various industries such as mining, packaging, and seaports sectors.
The mining segment to maintain its dominant share in terms of revenue during the forecast period
Based on application, the mining segment held the highest share in 2020, accounting for nearly one-third of the global ship loader and unloader market, and is estimated to maintain its dominant share in terms of revenue during the forecast period. This is due to heavy lifting capacity of loaders and unloaders and ability to configure as per the requirements and applications. However, the seaports and cargo terminals segment is projected to portray the fastest CAGR of 4.1% from 2021 to 2030. This is attributed to efficient cargo handling and application in ship and component manufacturing.
Asia-Pacific, followed by Europe and North America, to maintain its leadership status during the forecast period
Based on region, Asia-Pacific, followed by Europe and North America, contributed to the highest market share in 2020, holding more than one-third of the global ship loader and unloader market, and is expected to maintain its leadership status during the forecast period. Moreover, this segment is estimated to witness the highest CAGR of 4.3% during the forecast period. This is due to rapid infrastructural development and shift in ship production in Asian countries for abundance of human workforce and low land prices.
Leading Market Players
Fluor Corporation (American Equipment Company Inc.)
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