Container Yard Services Market size is set to grow by USD 24.55 billion from 2024-2028, Increase in containerization boost the market, Technavio

NEW YORK, June 13, 2024 /PRNewswire/ -- The global container yard services market size is estimated to grow by USD 24.55 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.81% during the forecast period. Increase in containerization is driving market growth, with a trend towards adoption of automation in container yard operations. However, increase in empty containers poses a challenge. Key market players include Abu Dhabi Ports PJSC, AP Moller Maersk AS, China Merchants Group, CK Hutchison Holdings Ltd., Container Corp. of India Ltd., Crescent Enterprises, Davao International Container Terminal Inc., EUROGATE GmbH and Co. KGaA KG, Gulf Agency Co. Ltd., International Container Terminal Services Inc., Kamigumi Co. Ltd., MSC Mediterranean Shipping Co. SA, Ports America Inc., Restaurant Kitchen Equipment LLC, Sociedad Matriz SAAM SA, TDK Metro Terminals Ltd., Temasek Holdings Pvt Ltd., COSCO Shipping International Hong Kong Co. Ltd., North Sea Terminal Bremerhaven GmbH and Co., and ITS Technologies and Logistics LLC.

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Market Driver

Container yard services market growth is driven by the increasing automation in container terminals. This includes the use of driverless cranes, automated guided vehicles (AGVs), automated straddle carrier terminals, and automated stacking cranes (ASCs). AGVs and automated straddle carrier terminals are particularly efficient for horizontal transport and yard storage. The adoption of these systems is increasing due to the high demand for container yards in expensive coastal areas. As a result, investments in automated container terminals are rising globally, fueling the demand for container yard services. 

The Container Yard Services market is experiencing significant growth, with a focus on efficiency and technology. Robotic technology is being used to streamline operations, such as container handling and transportation. Martime terminals are implementing modern technologies like Seaborne and Crossover to improve productivity and reduce waiting times.

The trend towards automation continues, with ports investing in advanced systems for container tracking and inventory management. Bulk cargo is also a growing area, with ports adopting new methods for handling and storing bulk materials. The use of technology is driving down costs and increasing capacity, making container yard services more competitive and efficient. 

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Market Challenges

• The container yard services market is currently grappling with the issue of managing an excessive number of empty containers. Approximately 60 million empty containers are added annually, incurring a cost of USD20 billion to the industry. High global trade imbalances and the US-China trade war are significant contributors to this problem.
• Empty container storage and repositioning costs, which include terminal handling, chassis location, and warehousing, are substantial. These high expenses negatively impact container operators, potentially reducing their profitability and hindering market growth during the forecast period.
• The container yard services market faces several challenges in the current business environment. One major challenge is the increasing demand for faster turnaround times, requiring efficient and effective yard management. Another challenge is the need for advanced technology solutions to optimize yard operations and reduce costs.
• Additionally, the market must contend with the complexities of international trade regulations and the logistical challenges of handling large volumes of cargo. Furthermore, ensuring the security of containers and their contents is a critical concern. Lastly, the market must adapt to changing customer needs and preferences, such as the growing demand for sustainable and eco-friendly solutions.

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Segment Overview 

1. Service 
• 1.1 Handling
• 1.2 Storage
2. Geography 
• 2.1 APAC
• 2.2 Europe
• 2.3 North America
• 2.4 Middle East and Africa
• 2.5 South America

1.1 Handling- Container yard services play a crucial role in the efficient movement and handling of loaded and empty containers. Companies prioritize speed and reliability, reducing the time vessels spend at ports and ensuring fast, dependable container handling. Services include re-handling, road/rail container handling, and handling for missed ships.

Vendors invest in new equipment, such as automated straddle carrier terminals and stacking cranes, to enhance services. Automation, including driverless straddle carriers and automated stacking cranes, increases efficiency and reduces handling time. Terminal operators like Yangshan Port in Shanghai are automating, contributing to market growth during the forecast period.

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Research Analysis

The Container Yard Services Market encompasses the provision of essential functions in the handling, storage, and movement of containers in the context of global supply chain operations. This market caters to various cargo types, including dry cargo and crude oil, as well as liquid cargo. Port closures and congestions can significantly impact market dynamics, necessitating the use of bunker fuel for powering operations.

Capacity utilization and container freight rates are key performance indicators, with containerization and cross-border trade driving demand. Automation, GPS technology, container storage systems, and handling equipment are transforming port operations through space optimization and the integration of robotics and artificial intelligence. Waterfront property remains a valuable asset in this industry.

Market Research Overview

The Container Yard Services Market encompasses the provision of various services related to the handling, storage, and transfer of containers in maritime logistics. These services include container loading and unloading, container stuffing and unstuffing, container repair and maintenance, container cleaning, and container transport within the yard.

The market is driven by the increasing global trade and the growing demand for efficient and reliable container yard services to support the smooth flow of goods and commodities. The use of advanced technologies such as automation and IoT in container yard operations is also a significant trend in the market. The market is expected to grow steadily in the coming years due to the expanding global trade and the need for efficient and cost-effective container yard services.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Service
• Handling
• Storage
• Geography
• APAC
• Europe
• North America
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio