Port Equipment Market Overview
The global port equipment market was valued at USD 15.71 billion in 2024 and is projected to reach USD 19.00 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.5% from 2025 to 2030. This growth is primarily driven by the continued surge in global trade, which is prompting ports worldwide to enhance their operational capabilities.
With international trade volumes on the rise, there is increasing pressure on ports to adopt modern, efficient, and automated port equipment that can handle larger volumes of cargo with improved speed and precision. To maintain competitiveness, ports are being pushed to upgrade both their equipment and infrastructure, boosting demand for advanced cargo handling machinery.
Additionally, growing maritime traffic and heightened emphasis on environmental sustainability are influencing the market. Ports are increasingly investing in eco-friendly and energy-efficient equipment to comply with global environmental regulations. These green initiatives not only meet regulatory demands but also align with broader sustainability goals across the maritime industry. As a result, the adoption of electric and hybrid port equipment is on the rise, further fueling innovation and market expansion.
Technological innovation is playing a critical role in shaping the port equipment industry. Developments in automation, electrification, and digitalization are enhancing safety, operational efficiency, and sustainability. Automation minimizes human error and reduces labor costs, while electrification contributes to reduced emissions. Furthermore, digital technologies—including the Internet of Things (IoT) and blockchain—are streamlining cargo tracking and logistics, ensuring faster and more reliable operations.
Order a free sample PDF of the Port Equipment Market Intelligence Study, published by Grand View Research.
Key Market Trends & Insights
- Asia Pacific led the global market, accounting for 38.2% of total share in 2023.
- China maintained a dominant position within the Asia Pacific regional market.
- Conventional port equipment represented 71.3% of global revenue in 2024.
- Diesel-powered port equipment held 63.7% of the market share by power source in 2024.
- The reach stackers segment accounted for 32.9% of global revenue by equipment type in 2024.
Market Size and Forecast
- 2024 Market Value: USD 15.71 Billion
- 2030 Projected Value: USD 19.00 Billion
- Growth Rate (CAGR 2025–2030): 3.5%
- Top Region (2024): Asia Pacific
Key Players and Company Insights
Several major players are shaping the global port equipment market:
- Konecranes: Known for delivering reliable, high-performance, and energy-efficient lifting equipment, with a strong focus on innovation.
- Liebherr Group: Offers a wide range of equipment, especially cranes, for container handling, bulk, and ship cargo applications.
- SANY Group: Recognized for producing high-performance port equipment using advanced technologies.
- Hyster-Yale Materials Handling, Inc.: Offers a comprehensive portfolio of material handling solutions, including forklift trucks, with an emphasis on innovation.
Emerging and established players also include:
- Kalmar
- Shanghai Zhenhua Heavy Industries
- Emerson Electric Co.
- Toyota Material Handling
- Cargotec Corporation
- Anhui Heli Co. Ltd.
- Gaussin Group
- CVS FERRARI
- LONKING HOLDINGS LIMITED
- AMERICAN CRANE AND EQUIPMENT
- ABB
- SIEMENS AG
Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.
Conclusion
The global port equipment market is on a steady growth trajectory, driven by rising international trade volumes, increased environmental concerns, and rapid technological advancements. Ports worldwide are investing in automated, digitalized, and sustainable equipment to improve efficiency and meet both competitive and regulatory demands. With Asia Pacific leading the market and key industry players focusing on innovation and performance, the sector is poised for continued development through 2030.