Port & Harbor Operations in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 48831Revenue
$5.5bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
14,482
Businesses
267
Wages
$X.Xbn
Port & Harbor Operations in the US industry analysis
The Port & Harbor Operations faced a dynamic landscape driven by shifting economic conditions, technological advancements and evolving trade patterns. The Federal Reserve's fight to curb inflation led to higher interest rates, making it more expensive to finance debt and impeding the expansion efforts of ports. Consumer sentiment and spending were key revenue drivers for ports, which handle approximately 90.0% of global goods shipments. The surge in e-commerce sales during 2020 and 2021 bolstered revenues for port operators, while elevated interest rates dampened consumer spending, particularly in 2023. This decline caused shipping volumes at larger ports to plummet, although dry land ports remained a bright spot because of the distribution of domestically produced goods. Trade dynamics have also been volatile, with the strong US dollar hurting exports and boosting imports. Revenue has been increasing at a CAGR of 4.8% over the past five years, and is expected to reach $5.5 billion in 2024.
Trends and Insights
- The Biden Administration is significantly boosting investment in ports and harbors, recognizing them as essential to economic activity. Federal funding of $653.0 million for port improvement projects aims to enhance efficiency and infrastructure nationwide.
- Tankers constitute the largest share of revenue for ports and harbors because of the high volume of energy products transported. The US leadership in energy exports and substantial pipeline infrastructure underpin this revenue dominance.
- The Southeast is the highest-ranking region by cargo volume because of its strategic role as a trade hub for Latin America and Europe. The Port of Everglades and the Port of Jacksonville in Florida handle approximately 25.5% of all US-Latin America trade.
- Small and medium-sized inland ports increasingly capture market share through advanced logistics technology and focusing on specific distribution processes. Reduced starting costs and specialization allow them to compete with major ports and alleviate supply chain congestion.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 4.8 % over the past five years, to reach an estimated $5.5bn in 2024.
Trends and Insights
Cautious consumer sentiment is moderating growth for ports and harbors
- In 2022, the Federal Reserve tightened the monetary policy to reel in soaring inflation. Higher interest rates impede investment as financing debt becomes much more costly. Consequently, the expansion of port operations was subdued, with enterprises falling by 0.7% and establishments declining by 0.2% since 2019.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
The expected growth in international trade will lift the revenue for ports and harbors
- Following a period of uncertainty and supply chain disruptions, global trade is expected to stabilize. Importers and exporters are two of the largest downstream markets for port and harbor operators, and with stabilizing macroeconomic factors, they are expected to boost industry revenue.
Biggest companies in the Port & Harbor Operations in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Port of Los Angeles | 571.2 | 84.0 | 14.7 | |
The Georgia Ports Authority | 528.4 | 168.6 | 31.9 | |
Port of Houston Authority | 428.6 | 107.3 | 25.0 |
To view the market share and analysis for all 6 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Rentals and other services, Wharfage cruise ships and Wharfage container ships. Rentals and other services is the largest segment of the Port & Harbor Operations in the US.
Trends and Insights
Diversification efforts lead to rental and other services being more prominent
- Rental and storage facilities provide a key source of revenue for ports. Ports and Harbors rent out land, buildings, warehouses, wharves and sheds. Companies in the Ocean and Coastal Transportation industry (IBISWorld report 48311) rent from ports and harbors and store their ships, equipment and other goods in ports' storage terminals and harbors.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Stevedoring & Marine Cargo Handling in the US
- Tugboat & Shipping Navigational Services in the US
- Dry Docks & Cargo Inspection Services in the US
- Marinas in the US
International industries
- Global Marine & Container Terminal Operation
- Ocean & Coastal Transportation in Canada
- Water Freight Transport in Australia
- Port and Water Transport Terminals in New Zealand
- Sea & Coastal Freight Water Transport in the UK
Table of Contents
About this industry
Industry definition
Companies in this industry operate ports, harbors (including docking and pier facilities) or canals. Their main activities include loading and unloading cargo from ships, operating lighthouses, arranging paperwork for incoming shipments, operating computer systems to connect cargo with recipients and providing accommodations to docked vessels.
What's included in this industry?
Waterfront terminal operation and maintenanceCanal operation and maintenanceDocking facility operationsHarbor operation and maintenanceLighthouse operationPort facility operationSeaway operationWharf operationCompanies
Port of Los AngelesThe Georgia Ports AuthorityPort of Houston AuthorityPurchase this report to view all 6 major companies in this industry.
Related Terms
TEUDREDGINGBULK CARGOWHARFAGEELECTRONIC DATA INTERCHANGE (EDI)FOREIGN-TRADE ZONE (FTZ)PORTAINERIndustry Code
NAICS 48831 - Port & Harbor Operations in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The Biden Administration is significantly boosting investment in ports and harbors, recognizing them as essential to economic activity. Federal funding of $653.0 million for ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Tankers constitute the largest share of revenue for ports and harbors because of the high volume of energy products transported. The US leadership in energy exports and subst...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Southeast is the highest-ranking region by cargo volume because of its strategic role as a trade hub for Latin America and Europe. The Port of Everglades and the Port of ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Small and medium-sized inland ports increasingly capture market share through advanced logistics technology and focusing on specific distribution processes. Reduced starting ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Slowdowns in the West Coast ports are shifting focus to the East. The Ports of Los Angeles reported plummeting shipment activity caused by weakening global trade and merchant...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Port of Los Angeles's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of The Georgia Ports Authority's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Port of Houston Authority's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 3 additional companies
Detailed analysis
- Description and key data for Port of Los Angeles, and factors influencing its performance in the industry
- Description and key data for The Georgia Ports Authority, and factors influencing its performance in the industry
- Description and key data for Port of Houston Authority, and factors influencing its performance in the industry
- Description, key data and performance trends for 3 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The Maritime Association provides a vast range of research and reports on security. The research generally leads to changes in best practices for operators.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Union presence keeps wage costs elevated. Ports and harbors require specialized labor and often hire unionized workers with stronger negotiating power than their non-unionize...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Port & Harbor Operations in the US industry in United States in 2024?
The market size of the Port & Harbor Operations in the US industry in United States is $5.5bn in 2024.
How many businesses are there in the Port & Harbor Operations in the US industry in 2024?
There are 267 businesses in the Port & Harbor Operations in the US industry in United States, which has declined at a CAGR of 0.7 % between 2019 and 2024.
Has the Port & Harbor Operations in the US industry in United States grown or declined over the past 5 years?
The market size of the Port & Harbor Operations in the US industry in United States has been growing at a CAGR of 4.8 % between 2019 and 2024.
What is the forecast growth of the Port & Harbor Operations in the US industry in United States over the next 5 years?
Over the next five years, the Port & Harbor Operations in the US industry in United States is expected to grow.
What are the biggest companies in the Port & Harbor Operations in the US market in United States?
The biggest companies operating in the Port & Harbor Operations market in United States are Port of Los Angeles, The Georgia Ports Authority and Port of Houston Authority
What does the Port & Harbor Operations in the US in United States include?
Waterfront terminal operation and maintenance and Canal operation and maintenance are part of the Port & Harbor Operations in the US industry.
Which companies have the highest market share in the Port & Harbor Operations in the US in United States?
The company holding the most market share in United States is Port of Los Angeles.
How competitive is the Port & Harbor Operations in the US industry in United States?
The level of competition is moderate and steady in the Port & Harbor Operations in the US industry in United States.
