Marine Port & Services 2018: Global Market Analysis & Forecasts (2012-2023)

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Dublin, July 12, 2018 (GLOBE NEWSWIRE) -- The report has been added to offering.

The future of the global marine port and service market looks promising with opportunities in container handling services, ship repair and maintenance services, navigation services, supply chain and logistics solution services and mechanical and electrical engineering services.

The global marine port and service market is expected to reach an estimated $87.8 billion by 2023 and it is forecast to grow at a CAGR of 4.2% from 2018 to 2023.

The major drivers of growth for this market are high growth of the marine transportation industry, surging demand of containerized and bulk cargo, rising customer demand and expansion of new regional trade hubs.Emerging trends, which have a direct impact on the dynamics of the marine port and service industry, include the vessel traffic services, self-unloading bulk carrier technology and marine port privatization.The study includes the marine port and service market size and forecast for the global marine port and service market through 2023, segmented by service and region.On the basis of its comprehensive research, the report forecasts that the container handling services and navigation services segments will show above average growth during the forecast period.APAC is expected to remain the largest region due to rising customer demand and expansion of new regional trade hubs in operation have driven the demand for marine port and service in the APAC region.

Laura Wood, Senior Manager
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Related Topics: Ports and Harbors

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Globe Newswire: 09:55 GMT Thursday 12th July 2018

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