Port Infrastructure Market By Port Type (Sea Port, Inland Port), By Application (Passanger, Cargo), By Construction Type (Terminal, Equipment, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030
The global port infrastructure market was valued at $148,147.3 million in 2020, and is expected to reach $243,086.3 million by 2030, with a CAGR of 4.9% from 2021 to 2030. Port infrastructure is the operating base of the port to sustain ships, cargo, and passengers passing through the port. Expansion of port infrastructure requires capital investment, long implementation time, and therefore long-term planning. The design of port infrastructure must be responsive to the needs of the shipping, logistics, and transportation industries.
The growth of the port infrastructure market is expected to be driven by increase in government expenditure on port infrastructure to promote safe and efficient commercial activities. In addition, rise in need for liquefied natural gas exports via marine transport is likely to contribute toward the growth of the industry. Furthermore, numerous sectors rely on marine shipping to import and export commodities throughout the world, as transporting products by air is more expensive than transporting commodities by water. Thus, this factor is expected to significantly drive the growth of the global port infrastructure market.
However, the expansion of the port infrastructure industry is hampered by trade obstacles. Tariffs are a type of trade barrier that imposes a levy on imported products. Tariffs increase the cost of imported products. Higher tariffs are due to higher price of imported goods. In addition, higher tariffs lead to lower port transit and shipping. For instance, in comparison to exports to China, the U.S. import from China is high. To regulate imports and save American firms, the U.S. Government implemented a tariff tax system. However, because the building and maintenance of port infrastructure requires a significant amount of cash and takes a long time to complete, these difficulties are projected to act as challenges for the market growth.
A country's economic progress is aided by efficient trade activities. As a result, sea ports play an important role in economic activities, particularly in coastal locations. Every year, the number of passengers travelling by sea and the number of commodities transported by water are witnessed to increase significantly. Hence, it leads to construction of new ports. The need for global port infrastructure is likely to rise as a result of this scenario. Furthermore, the use of IoT and AI for shipping and transport management can shorten the time required for waterway transport delivery, which is expected to offer lucrative opportunities for the market expansion.
The global port infrastructure market is segmented into port type, application, construction type, and region. On the basis of port type, the market is classified into sea port and inland port. Depending on application, it is bifurcated into passenger and cargo. By construction type, it is segregated into terminal, equipment, and others. Region wise, the global port infrastructure market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The major players profiled in the port infrastructure market include Adnani Ports and SEZ, APM Terminal, AECOM, Colas, Essar Ports Ltd., IL&FS Engineering & Construction Company Ltd., Larsen & Toubro Ltd., Man Infraconstruction Ltd., Ramboll, and WSP Global Inc. Major companies in the market have adopted acquisition, business expansion, and agreement as their key developmental strategies to offer better products and services to customers in the port infrastructure market.
KEY BENEFITS FOR STAKEHOLDERS
• The report provides an extensive analysis of the current trends and future estimations. • Extensive analysis of port infrastructure market is conducted by following key product positioning and monitoring of the top competitors within the market framework.• A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.• The global port infrastructure market forecast analysis from 2021 to 2030 is included in the report.• The key market players within the global port infrastructure market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global market.
Key Market Segments
By Port Type
By Construction Type
Rest of Europe
Rest of Asia-Pacific
Key Market Players
Essar Ports Ltd.
IL&FS Engineering & Construction Company Ltd.
Larsen & Toubro Ltd.
Man Infraconstruction Ltd.
WSP Global Inc.
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