DUBLIN, Aug. 25, 2022 /PRNewswire/ — The “Port Infrastructure Market By Port Type, By Application, By Construction Type: Global Opportunity Analysis and Industry Forecast, 2020-2030” report has been added to ResearchAndMarkets.com’s offering.
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.
Key Market Segments
By Port Type
Sea Port
Inland Port
By Application
Passenger
Cargo
By Construction Type
Terminal
Equipment
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
APM Terminal
Colas
Essar Ports Ltd.
IL&FS Engineering & Construction Company Ltd.
Larsen & Toubro Ltd.
Man Infraconstruction Ltd.
Adani Group
Ramboll
AECOM
WSP Global Inc.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PORT INFRASTRUCTURE MARKET, BY PORT TYPE
CHAPTER 5: PORT INFRASTRUCTURE MARKET, BY APPLICATION
CHAPTER 6: PORT INFRASTRUCTURE MARKET, BY CONSTRUCTION TYPE
CHAPTER 7: PORT INFRASTRUCTURE MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/sp7hd0
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SOURCE Research and Markets
