New market research study by Technavio on the global
container yard services market projects the market to
grow at a CAGR of close to 4% during the period 2019-2023. This research
report provides an in-depth analysis of the market in terms of revenue,
top drivers and emerging market trends. It also includes detailed
insights and forecasts for all the market segments across different
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Technavio has published a new market research report on the global container yard services market from 2019-2023. (Graphic: Business Wire)
Growth in cross-border trade
The preference for cross-border e-commerce is increasing, owing to
factors such as a rise in per capita income and accessibility to foreign
brands. It also offers tremendous opportunities to online sellers to
expand their businesses outside their often-saturated home market and
tap into new markets. In cross-border trade, container yards play a
major role as the movement of goods depends on transportation and
storage capabilities. Hence, with an increase in cross-border trade, the
demand for container yards services will rise during the forecast period.
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Adoption of automation in container yard operations
Automation helps container terminals and container yards aim for more
efficient operation and higher productivity. The emphasis on reducing
the cost per handled container drives automation in container yards. The
robotization of container yard handling and transport systems is
gradually emerging. Globally, numerous driverless cranes are operational
in container yards. Some automation systems in container yards include
automated guided vehicle (AGV), and automated stacking cranes (ASC).
Owing to such advancements, investments in automated container terminals
are increasing worldwide. Therefore, investments in the construction and
automation of container terminals are likely to fuel the demand for
container yard services during the forecast period.
According to a senior analyst at Technavio for chemicals research,
“Presently, the government of several countries are undertaking
initiatives for improving container handling capacity. For instance, the
Government of India started the Sagarmala port development with an aim
to complete the project within five years of its initiation. The project
is aimed at port modernization, connectivity, port-led
industrialization, and coastal community development. Therefore, such
initiatives are likely to enhance the performance of the logistics
sector in various countries and increase the demand for
containerization, during the forecast period.”
Increase in empty containers
Containers are intended to be in constant use, loaded with a new cargo
for a new destination soon after being emptied of the previous cargo.
However, this is not the scenario in the current container market due to
the high trade imbalance across the world. In addition, the
repositioning costs for empty containers are multiple and such high
costs for the management of empty containers are likely to have a
negative impact on container operators and reduce their overall profit.
Consequently, these costs will also reduce container movements and
hamper the growth of the overall global container yard services market.
Top players in the global container yard services market:
- APM Terminals Management BV
- China Merchants Port Holdings Co. Ltd.
- DP World
- Hutchison Port Holdings Ltd.
- PSA International Pte. Ltd.
Some of the key topics covered in the global
container yard services market include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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