Port Autonomous Driving Market Size to Reach USD 7,211.9 Million in 2031
The port autonomous driving market size was USD 1,730.5 Million in 2023 and is expected to register a revenue CAGR of 19.7% during the forecast period
December 21st, 2024 – Rising growth in maritime transportation is driving the market revenue growth of global port autonomous driving market. According to the UNCTAD, international maritime trade reached 11.0 billion tons in 2021. Several ports are shifting to driverless operation to increase overall cargo handling capacity. Globally, port stakeholders are increasingly deploying of automatic guided vehicle (AGV), automated container trucks (ACT), and cranes to handle cargos and port operations.
The integration of 5G and internet of things (IoT) technologies in remote port operation and real-time data-driven decision-making is expected to fuel market revenue growth over the projection period. According to the GSM Association, 5G connections worldwide are estimated to exceed 2 billion by 2025. Automatic Guided Vehicles (AGV), Automated Container Trucks (ACT), and 5G-powered cranes provide precise autonomous freight handling.
Moreover, governments and international organizations are encouraging the port and shipping industry to cut carbon emissions and address climate change, which is having a big impact on the adoption of autonomous technology at ports. According to the United Nations (UN), emissions must be cut by 45% by 2030 and achieve net zero by 2050. These factors are expected to fuel the market revenue growth global port autonomous driving market.
However, concerns over cybersecurity are projected to limit market revenue growth over the projection period. Securing hardware and software systems has emerged as a significant concern for port authorities. According to a survey, shipowners, ports, and other marine stakeholders reported at least 64 cyber incidents in 2023.
Key Highlights:
- Autonomous forklifts segment is expected to register fastest revenue growth over the forecasted period. The rapid deployment of autonomous forklifts in cargo handling and warehouse operations with port settings is projected to drive the expansion of the market. Autonomous forklifts are cost-effective and ideal for small-scale tasks such as palletised freight transport and material loading and unloading.
- Light Detection and Ranging (LiDAR) segment contributed largest revenue share in 2023. LIDAR devices enable real-time, high-resolution 3D mapping of the port environment, ensuring exact item detection. Globally, various port stakeholders are updating equipment with cutting-edge technology, which are expected to contribute to market revenue growth. For example, in September 2024, Hesai and Westwell will collaborate to enhance autonomous yard tractors and electric semi-trucks.
- Docking and unloading segment is expected to register the fastest revenue growth over the forecasted period. Rising demand for automated solutions to enhance port operating efficiency and reduce cargo handling will contribute to revenue growth by 2031. With expanding global commerce volumes, port authorities throughout the world are introducing autonomous vehicles.
- Asia Pacific is registered the highest market share in port autonomous driving market in 2023. Asia-Pacific is a key export region with some of the world’s busiest ports, including Hong Kong, Sanghai, Beijing, and Singapore. According to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), merchandise trade in Asia and the Pacific is predicted to hit USD 17.6 trillion by 2023.
- Governments in China, India, Japan, South Korea, Singapore, Thailand, and Vietnam are implementing strategic policies such as foreign direct investment (FDI) to promote exports. As a result, governments are encouraging a variety of export development parks. According to UNCTAD, Asia and Oceania were the greatest recipients of foreign direct investment (FDI), accounting for half of worldwide inflows in 2022. China is boosting the building of automated ports. According to research, China has finished the building of 18 automated container ports and is now working on another 27.
- Some major companies in the market report are including Konecranes, Rocsys, Acsystème, Cargotec Corporation, Terex Corporation, AB Volvo, Alstef Group, Einride, RoboSense Technology Co., Ltd, TuSimple, Inc., Hesai Group, Hyundai Rotem, Shanghai Zhenhua Heavy Industries Co., Ltd. (ZPMC), Embotech AG, Aidrivers Ltd.
- In April 2024, Einride has entered into a partnership with Jebel Ali Port in Dubai as part of its strategic initiative to establish the world’s largest autonomous trucking network. The freight mobility startup has signed an agreement with DP World, the operator of the world’s 10th busiest port, to deploy hundreds of Einride’s electric trucks for container transportation within the port’s logistics operations
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Navistrat Analytics has segmented port autonomous driving market based on type, technology, level of autonomy, application and region:
- Type Outlook (Revenue, USD Million; 2021-2031)
- Automatic Guided Vehicle (AGV)
- Automated Container Trucks (ACT)
- Autonomous Forklifts
- Autonomous Port Cranes
- Technology Outlook (Revenue, USD Million; 2021-2031)
- Light Detection and Ranging (LiDAR)
- RADAR
- Computer Vision
- GNSS/INS
- PPP-RTK
- Others
- Level of Autonomy Outlook (Revenue, USD Million; 2021-2031)
- Level 1
- Level 2
- Level 3
- Level 4
- Level 5
- Application Outlook (Revenue, USD Million; 2021-2031)
- Container Handling
- Cargo Management
- Docking and Unloading
- Maintenance and Repair
- Others
- Regional Outlook (Revenue, USD Million; 2021-2031)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Nordic Countries
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Oceania
- ASEAN Countries
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- South Africa
- Israel
- Turkey
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- South Africa
- Israel
- Turkey
- Rest of MEA
- North America