The global automated container terminal market is expected to grow at an impressive CAGR of 25% during 2017 to 2021, according to Technavio’s latest research.
The technology advisory firm has predicted that the automated container terminal market in APAC is expected to grow steadily during the forecast period because developing nations are investing significantly in automation.
The key country leading the way is the US, followed by Brazil, Argentina, and Canada.
Technavio has also reported that the slowdown in the Chinese economy is and will continue to impact the market, but developing nations such as Malaysia, Indonesia, Vietnam, and India will boost demand going forward.
US port projects in Los Angeles, New York, and Virginia are also expected to support the growth.
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Steady growth is also expected for the EMEA's automated container terminal market during the forecast period because of the increasing investments in African and the Middle East countries.
Developing nations such as Morocco, Nigeria, Qatar, and Oman, are investing in automation of future projects, which will boost operations and increase the market demand for automated container terminal market.
The research found that the top vendors in the global automated container terminal market are ABB, Cargotec, Konecranes and ZPMC, which you can view in PTI's supplier directory.
Bharath Kanniappan, a lead automation research expert from Technavio, said: “Automated container terminals are cleaner, safer, and quieter than conventional terminals, and they deliver containers much faster than fully manned terminals. Also, harmful diesel emissions are lowered because electricity and batteries power the cargo-handling equipment.”
“Terminal operators seek time and cost savings during the loading and unloading of containers. Hence, to increase operational efficiency, terminal operators opt for automation of container terminals.”