Port Equipment Market to Reach USD 22.51 Billion by 2031 as Automation, Electrification, and Trade Growth Redefine Terminal Operations

The global port equipment market is set for steady expansion as terminals modernize to handle rising cargo volumes, according to Kings Research. The market was valued at USD 17.83 billion in 2023 and is projected to grow from USD 18.31 billion in 2024 to USD 22.51 billion by 2031, exhibiting a CAGR of 2.99% during the forecast period. Investment in port automation and digitalization, together with a push for lower-emission operations, is shaping equipment purchasing decisions across the world's container terminals.

Market Overview

Port equipment refers to the machinery used in terminals to load, unload, and handle cargo. It includes container and gantry cranes, forklifts, conveyor systems, reach stackers, tugboats, and gantries, all of which move goods between ships, warehouses, and other transport modes such as trucks and railcars. This equipment plays a crucial role in optimizing port operations, improving logistics, and ensuring the smooth functioning of global trade.

Growth is supported by AI-powered cargo handling and autonomous equipment, which improve operational efficiency, and by the shift toward containerized shipping fueled by e-commerce and supply chain integration. Rising trade agreements and regional economic partnerships are boosting port activity, and the expansion of major trade hubs and intermodal transport networks reinforces demand for technologically advanced equipment. As context, UN Trade and Development reports that roughly 80% of global goods trade by volume moves by sea. Global maritime trade grew 2.4% in 2023 to 12.3 billion tons, with an average annual growth rate of 2.4% projected through 2029.

Key Highlights from the Report

• The market was valued at USD 17.83 billion in 2023 and is projected to grow at a CAGR of 2.99% from 2024 to 2031.
• North America held a 34.14% share in 2023, valued at USD 6.09 billion.
• The reach stackers segment generated USD 4.90 billion in revenue in 2023.
• The diesel segment is expected to reach USD 8.17 billion by 2031.
• The conventional technology segment secured the largest revenue share of 58.43% in 2023.
• The ship handling segment is poised for a CAGR of 3.43% through the forecast period.
• Asia Pacific is anticipated to grow at a CAGR of 4.19% during the forecast period.

Growth Driver: Intermodal and Smart Logistics

The expansion of intermodal transport networks is increasing demand for efficient cargo-handling equipment. Seamless integration between ports, rail, and road improves supply chain efficiency and requires terminals to deploy advanced container handling systems and automated equipment. Smart logistics solutions, including AI-powered freight tracking and cloud-based port management platforms, are improving cargo flow and reducing congestion, while digital freight corridors and real-time monitoring raise productivity and strengthen demand for technologically advanced machinery.

In November 2024, DP World and SailGP unveiled a global logistics partnership under which DP World manages transport and delivery for the championship's annual events, covering sea freight, courier services, and route optimization across five continents.

Market Challenge: High Investment and Integration Costs

The high capital investment needed for advanced equipment, automation systems, and digital infrastructure remains a significant barrier, especially for small and mid-sized ports. AI-driven cargo handling and electrified cranes demand substantial financial resources. To manage this, operators are forming partnerships to share costs, drawing on government subsidies for sustainable port initiatives, and adopting modular automation that can be implemented in phases. Leasing models and equipment-as-a-service offerings are also giving ports access to modern technology without heavy upfront expenditure.

Market Trend: Automation and Technological Advancement

Automation and digital technologies are transforming port efficiency and safety. Automated stacking cranes, AI-driven cargo management, and remote-controlled terminal equipment streamline logistics while reducing labor dependency, and IoT-enabled equipment with predictive maintenance minimizes downtime and improves asset utilization. Digital twin technology and blockchain-based cargo tracking are enhancing real-time monitoring and transparency.

In November 2024, Sany Marine Heavy Industry advanced its H-Move2.0 intelligent system in the tire crane automation project at the Port of Tianjin, raising tire crane efficiency to 20 moves per hour and setting a benchmark for smart ports.

Segmentation Analysis

By type, the market covers cranes, forklifts, reach stackers, container handlers, terminal tractors, and others. Reach stackers earned USD 4.90 billion in 2023 owing to their versatility in handling containers in tight spaces and optimizing yard space, and they are projected to hold the largest share, with revenue of USD 5.86 billion by 2031.

By propulsion, diesel held a 38.30% share in 2023 because of its power output, reliability, and efficiency in heavy-duty port work, while electric and hybrid options are gaining ground as emission rules tighten. By technology, conventional equipment is projected to reach USD 12.81 billion by 2031, favored for its established reliability and lower initial cost. By application, ship handling is expected to grow at a CAGR of 3.43% because of its essential role in docking, undocking, and maneuvering vessels.

Regional Analysis

North America accounted for 34.14% of the market in 2023, valued at USD 6.09 billion. Stricter environmental regulations and sustainability goals are accelerating adoption of energy-efficient equipment. Ports are moving to electric and hybrid cranes, hydrogen-powered cargo handling vehicles, and shore power systems, and California's zero-emission mandate for cargo handling equipment is compelling operators to invest in green technologies. In August 2024, the Detroit/Wayne County Port Authority revealed a plan to reach net zero within 15 years, including biodiesel, battery-electric smaller vessels, and electric and hydrogen port equipment and trucks.

Asia Pacific is expected to grow fastest, at a CAGR of 4.19%, with a forecast value of USD 6.08 billion in 2031. Surging trade volumes and large-scale port infrastructure projects in China, India, and South Korea are driving demand, and the Belt and Road Initiative is boosting port upgrades and connectivity. China's carbon neutrality push and India's Sagarmala Program encourage electrified cranes, hybrid equipment, and shore power, while South Korea and Japan invest in hydrogen-powered machinery and LNG bunkering infrastructure.

Regulatory Frameworks

In the United States, OSHA enforces worker safety standards for equipment such as cranes and forklifts, the Federal Maritime Commission oversees fair competition in port operations, and the EPA governs emissions and waste management. In the European Union, Directive 2008/106/EC addresses seafarer training and certification, and Directive 2014/94/EU addresses alternative fuels infrastructure. In the United Kingdom, the Health and Safety Executive and the Maritime and Coastguard Agency enforce safety standards. China's Ministry of Transport, Japan's MLIT, India's Ministry of Ports, Shipping and Waterways, and South Korea's Ministry of Oceans and Fisheries and KOSHA each set requirements covering safety, environmental performance, and efficiency.

Competitive Landscape

The industry includes many established corporations and rising organizations. Companies are pursuing product innovation with smart features and sustainability initiatives, using advanced automation, AI-driven cargo handling, and IoT monitoring to raise efficiency and cut downtime. Manufacturers are also investing in electrified cranes, hybrid cargo-handling equipment, and hydrogen-powered vehicles to meet environmental rules, and shore power and renewable energy integration help ports lower their carbon footprint.

Key companies include Kalmar Corporation, Liebherr-International Deutschland GmbH, Konecranes, Sany Heavy Industry Co., Ltd., Shanghai Zhenhua Heavy Industries (ZPMC), Anhui Heli Co., Ltd., Cargotec Corporation, Mitsubishi Logisnext Co., Ltd., ToyotaLift Northeast, BYD Motors, Inc., Gaussin Group, Tec Container S.A., Hyster-Yale Group, Inc., ABB, and Siemens.

Recent Developments

• In February 2025, Konecranes received an order from Terminales Marítimas de Vigo for two hybrid rubber-tired gantry cranes featuring auto-steering, auto-truck guiding, auto-path optimization, and auto-positioning.
• In February 2025, Katoen Natie ordered four all-electric Konecranes Gottwald Mobile Harbor Cranes for the Port of Antwerp, with a 10-year service agreement and delivery set for Q1 2026.
• In January 2025, Kalmar agreed with Maputo Port Development Company to deliver five T2i terminal tractors and five forklift trucks, with delivery expected by the third quarter of 2025.
• In November 2024, Kalmar secured an agreement to supply APM Terminals in Tangier, Morocco, with 20 additional hybrid straddle carriers.
• In November 2024, Liebherr supplied two ship-to-shore container cranes to Port Newark Container Terminal as part of its USD 500 million expansion project.
• In March 2024, ABB and Kuenz secured the largest single order of automatic stacking cranes by a European terminal for APM Terminals Maasvlakte II in Rotterdam, comprising 62 ASCs and one intermodal yard crane.

Strategic Implications for Stakeholders

For terminal operators, the findings highlight a balancing act between proven and emerging technology. Conventional equipment remains the largest technology segment, which reflects its reliability and lower upfront cost, yet the pace of orders for hybrid and all-electric machines suggests that purchasing criteria are shifting toward total lifecycle performance and emissions compliance. For equipment makers, service agreements, remote monitoring, and smart features are becoming part of the competitive offer rather than optional extras. For investors and policymakers, the regional split is instructive: North America's growth is anchored in regulation and decarbonization, while Asia Pacific's is anchored in volume, infrastructure, and national programs. Understanding which of these forces dominates a given port is central to forecasting equipment demand.

Outlook

Although the headline growth rate is modest at 2.99%, the market is changing in character. Diesel and conventional equipment still dominate current revenue, yet recent orders show a clear tilt toward hybrid, all-electric, and automated machines, and Asia Pacific is expected to outpace the global average. Operators that manage capital costs through leasing, phased automation, and partnerships will be better placed to modernize, while manufacturers with strong electrification and smart-feature portfolios are likely to gain share as regulations and trade volumes evolve.

The full Kings Research report, released in February 2025 and spanning 190 pages, offers deeper segment, regional, and competitive analysis.

About Kings Research

Kings Research is a market research and consulting firm, part of One Media Group, that delivers data-driven intelligence and strategic guidance to help organizations identify, evaluate, and capitalize on market opportunities across industries. Its reports combine quantitative market sizing with qualitative analysis of drivers, challenges, trends, regulatory frameworks, and competitive landscapes.

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