The terminal automation market has grown from $7 billion in 2023 to $7.5 billion in 2024, reflecting a CAGR of 7.1%. This growth is driven by increasing demand for operational efficiency, adoption of automated equipment, and rising regulatory pressures for environmental sustainability. The market is projected to reach $9.91 billion by 2028, with a CAGR of 7.2%, propelled by the need for improved operational efficiency, the adoption of IoT and AI technologies, and expanding investments in smart infrastructure and digitalization.
The terminal automation market is set to grow with the rise in oil and gas production. Advances in drilling technologies, increased offshore drilling, and growing energy demands are driving this expansion. Terminal automation enhances efficiency and safety in loading, storage, and distribution operations. In July 2023, the Department For Energy Security and Net Zero reported a 16% increase in gas production in 2022, reaching 423 TWH. This growth is expected to continue, fueling the terminal automation market's expansion from $3 billion in 2023 to $3.8 billion in 2024, and $5 billion by 2028.
Request A Free Sample Of The Terminal Automation Market ReportSiemens AG, General Electric Company, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Larsen & Toubro Limited, Emerson Electric Co., Rockwell Automation Inc., TechnipFMC plc, INTECH, Petroliam Nasional Berhad (PETRONAS), Zebra Technologies Corporation, General Atomics Aeronautical Systems Inc., Yokogawa Electric Corporation, Endress+Hauser Group Services AG, Royal Vopak N.V., Mofatt & Nichol Inc, Chemtrols Industries Pvt. Ltd., Fabtech Projects & Engineers Ltd., Varec Inc., Advanced Sys-tek Pvt. Ltd., Toptech Systems Inc, Implico GmbH, MHT Technology Ltd
Major companies in the terminal automation market are focusing on the development of cloud-based terminal operating systems (TOS) to enhance operational flexibility and scalability. These systems, hosted and operated via cloud infrastructure, allow terminal operators to manage and optimize terminal operations remotely through internet-enabled devices. For instance, in April 2021, DP World, a UAE-based logistics firm, successfully implemented its CARGOES TOS+ (Zodiac) at the Commercial Port of Luanda in Angola. This cloud-based system integrates IT and operational functions into a single platform, delivering real-time data on vessel, gate, and yard movements while automating manual processes.
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The terminal automation market covered in this report is segmented –
1) By Offering: Hardware, Software And Services
2) By Project Type: Brownfield Projects, Greenfield Projects
3) By End User: Oil And Gas, Chemical, Other End Users
By Geography:The regions covered in the terminal automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the terminal automation market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period.
The Terminal Automation Global Market Report 2024 furnishes information about the global terminal automation market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.