Port Industry Statistics: Key Findings

  • In 2020, 798.9 million TEUs of containers were handled in ports worldwide.
  • In 2017, foreign trades through U.S. ports were valued at $1.6 trillion.
  • The market size of the Port & Harbor Operations industry in the US was $5.4 billion in 2022.
  • Revenue for Port and Harbor operations is expected to grow at a CAGR of 5.4% to $5.5 billion over the five years to 2023.
  • The Port of Los Angeles is the largest port in North America. It handles 20 percent of all incoming cargo for the United States.
  • The busiest container ports in the world are Shanghai, Singapore, Shenzhen, Ningbo-Zhoushan, Hong Kong, Busan, and Guangzhou.

Source: (UNCTAD, National Ocean Service, IBISWorld, ReportLinker, Shipa Freight, GoComet.)

Ports Worldwide Handle Record 798.9 Million TEUs in 2020

Important takeaway:

Increase port efficiencyThe huge volume of TEUs requires ports to enhance their operational efficiency.
Enhance container tracking systemsWith this scale of container handling, improved tracking systems are critical.
Invest in infrastructure developmentThis data indicates the need for significant investment in port infrastructure.

The handling of 798.9 million TEUs of containers globally in 2020 highlights the necessity for increased port efficiency, enhanced container tracking systems, and investment in port infrastructure. These measures can ensure optimal operation and growth in the sector.

Source: UNCTAD

U.S. Ports Oversaw $1.6 Trillion in Foreign Trades in 2017

Important takeaway:

Need to increase port capacityThe high value implies substantial foreign trade activity, demanding improved facilities
Enhance security measuresEnsuring the protection of trillion-dollar assets is crucial
Strengthen global trade relationshipsThe scale of trade suggests valuable international partnerships

The $1.6 trillion value of foreign trades through U.S. ports in 2017 implies an expansive and interconnected global trade network. It suggests the importance of infrastructure, security, and international relations in maintaining and enhancing such trade volume.

Source: National Ocean Service

U.S. Port & Harbor Operations Market Hits $5.4 Billion in 2022

Important takeaway:

Invest in port infrastructureA robust market size indicates the potential for continued growth and innovation
Prioritize industry workforce developmentSupporting this large industry requires a skilled, prepared workforce
Implement advanced technologiesTechnological upgrades can enhance the efficiency of this substantial market

The $5.4 billion market size of the US Port & Harbor Operations industry in 2022 suggests ample opportunity for investment in infrastructure, human resources, and technology to support the industry’s growth and contribute to the overall economy.

Source: IBISWorld

Port, Harbor Operations Revenue to Grow 5.4% to $5.5 Billion by 2023

Important takeaway:

Anticipate continued industry growthThe steady CAGR suggests a healthy, growing industry
Plan for future capacity needsGrowth will require enhanced infrastructure and operations
Capitalize on investment opportunitiesGrowth rates indicate potential for profitable investments

The anticipated 5.4% CAGR for the Port and Harbor operations, increasing the revenue to $5.5 billion by 2023, indicates a prosperous industry with opportunities for expansion. It necessitates strategic planning for capacity enhancement, and presents potential for profitable investments.

Source: ReportLinker

Port of Los Angeles: North America’s Largest, Handles 20% of U.S. Cargo

Important takeaway:

Enhance security at the Port of Los AngelesIts significance in US cargo import makes it a critical infrastructure
Improve efficiency of operationsHigh volume of cargo requires streamlined and efficient processes
Diversify cargo entry pointsHeavy reliance on one port could pose logistical risks

The Port of Los Angeles, handling 20% of all incoming cargo for the US, signifies its critical role in the nation’s supply chain. This highlights the need for heightened security, efficient operations, and diversified cargo entry points to ensure uninterrupted trade.

Source: Shipa Freight

Shanghai, Singapore Lead as Busiest Container Ports Globally

Important takeaway:

Deepen trade ties with Asian marketsMost of the busiest ports are in Asia, suggesting dominant trade activity
Enhance US port competitivenessLearning from these efficient ports could boost US port operations
Diversify shipping routesHeavy dependence on a few ports could pose global supply chain risks

The dominance of Asian ports like Shanghai, Singapore, and Shenzhen among the world’s busiest indicates the substantial trade activity within the region. It suggests the need to deepen US-Asia trade ties, improve US port efficiency, and diversify global shipping routes for more resilience.

Source: GoComet