DUBLIN–(BUSINESS WIRE)–The “Global Terminal Automation Market Outlook to 2026” report has been added to ResearchAndMarkets.com’s offering.
Global terminal automation market is expected to grow by over 5% CAGR during the market forecast period (2021-2025).
The market for global terminal automation is being driven by the cost benefits offered by terminal automation and the increasing regulatory requirements and environmental obligations in the terminal industry. In 2019, it was found that across the globe only 66 container terminals were automated or semi-automated. The presence of automated operations in the terminals is very low. This number is likely to reach 90+ by mid-2021.
Terminal operators are moving towards automation as it offers them benefits including lower energy consumption and emissions, a safer working environment, and reduced insurance costs. The labor costs and overall profits can also be optimized with the implementation of terminal automation. In addition to the benefits offered by terminal automation, the market is also being driven by the existing challenges from manual-based terminals.
About 90% of the world throughput is controlled by the top 21 global terminal operators. Some of the major operators include COSCO, PSA International, APM Terminals, Hutchison Ports DP World, Terminal Investment Limited, China Merchants Ports CMA CGM, SSA Marine, and ICTSI among others. The increasing focus on safety coupled with shortage and cost of trained labor is pushing the terminals towards automation.
This trend is likely to continue during the forecast period. The focus for optimal space utilization is also driving the terminal automation sales. The outbreak of the COVID 19 pandemic has made the terminal operators realize the importance of automation and digitalization to increase resilience to any similar future shocks.
There is a significant need for the automation of terminals in developing economies. For instance, in India, there are over 20 container terminals but none of these is fully automated. There exists a high potential for the implementation of automation in the existing terminals.
Automation helps in avoiding congestions and decreases storage charges and reduces demurrage & detention at the terminals. Terminal operators are keen on automated systems that improve the productivity and efficiency of the terminal by handling larger vessels with greater holding capacities.
Accordingly, the widespread adoption of terminals for blending, storing, and handling biofuels is boosting market growth. Even though the initial investment to automate terminals is highly expensive, it is suggested that the investment is worth the cost reductions to come in the future.
The global market for terminal automation is led by key players including ABB Ltd., Honeywell International Inc., Siemens AG, Rockwell Automation Inc., and Schneider Electric among others.
Key Topics Covered:
1. Executive Summary
2. Research Scope and Methodology
2.1 Aim & Objective of the study
2.2 Market Definition
2.3 Study Information
2.4 General Study Assumptions
2.5 Research Phases
3. Market Analysis
3.2 Market Dynamics
3.3 Market Trends & Developments
3.4 Market Opportunities
3.5 Regulatory Policies
3.6 Analysis of COVID-19 Impact
4. Industry Analysis
4.1 Supply Chain Analysis
4.2 Porter’s Five Forces Analysis
5. Market Segmentation & Forecast
5.1 By Project type
5.2 By Vertical
5.2.2 Oil & Gas
5.3 By Offering
5.3.1 Software & Services
18.104.22.168 Tank Loading Area
22.214.171.124 Field Devices
6. Regional Market Analysis
6.1 North America
6.1.1 United States
6.2.2 United Kingdom
6.2.6 Rest of Europe
6.3.4 South Korea
6.3.5 Rest of Asia-Pacific
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 South Africa
6.5.2 Saudi Arabia
6.5.3 Rest of Middle East & Africa
7. Key Company Profiles
7.1 ABB Ltd.
7.2 Emerson Electric Co.
7.3 Zebra Technologies Corporation
7.4 Honeywell International Inc.
7.5 Implico Group.
7.6 Royal Vopak Nv
7.7 Larsen & Toubro Limited
7.8 Rockwell Automation, Inc
7.9 Schneider Electric
7.10 Siemens AG
7.11 Technipfmc PLC
7.12 Yokogawa Electric Corporation
7.13 General Electric
7.14 Endress+Hauser Management AG
8. Competitive Landscape
8.1 List of Notable Players in the Market
8.2 M&A, JV, and Agreements
8.3 Market Share Analysis
8.4 Strategies of Key Players
9. Conclusions and Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/7l7rgp
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