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 efficiency | The huge volume of TEUs requires ports to enhance their operational efficiency. |
| Enhance container tracking systems | With this scale of container handling, improved tracking systems are critical. |
| Invest in infrastructure development | This 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 capacity | The high value implies substantial foreign trade activity, demanding improved facilities |
| Enhance security measures | Ensuring the protection of trillion-dollar assets is crucial |
| Strengthen global trade relationships | The 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 infrastructure | A robust market size indicates the potential for continued growth and innovation |
| Prioritize industry workforce development | Supporting this large industry requires a skilled, prepared workforce |
| Implement advanced technologies | Technological 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 growth | The steady CAGR suggests a healthy, growing industry |
| Plan for future capacity needs | Growth will require enhanced infrastructure and operations |
| Capitalize on investment opportunities | Growth 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 Angeles | Its significance in US cargo import makes it a critical infrastructure |
| Improve efficiency of operations | High volume of cargo requires streamlined and efficient processes |
| Diversify cargo entry points | Heavy 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 markets | Most of the busiest ports are in Asia, suggesting dominant trade activity |
| Enhance US port competitiveness | Learning from these efficient ports could boost US port operations |
| Diversify shipping routes | Heavy 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
