Port Infrastructure Market Size, Share & Trends Analysis Report 2020-2027
The port infrastructure market is anticipated to grow at a CAGR of 4.1% from 2020 to 2027, owing to increasing investments in transport infrastructure by both government and private companies. The growing globalization has led to an increased need for infrastructure including roads, ports, airports, bridges, etc., thus many large companies are focusing on grabbing such mega projects from the government. Moreover, increasing sea-trade has substantially increased demand for the port infrastructure market, especially in countries such as India, Africa, U.S. & Southeast Asian countries with large coastal areas. The middle eastern countries such as Iran, UAE, Saudi Arabia is also gaining high significance as their export of oil has increased substantially in recent years.
The container shipment industry is playing a crucial role in growing the demand for port infrastructure management, as the container shipment has grown substantially in the last few decades as companies are focusing more on streamlining the operations and reduce operational costs. Additionally, increasing demand from the energy sector is further boosting the port infrastructure market growth. For instance, the Oman international container terminal project (6 million TEU capacity), Qatar New Port (6 million TEU capacity) are a few key projects in the Middle East region focused on the transportation of crude oil. The demand for fuel is increasing considerably each year, for instance as per U.S. Department of Energy, the demand for natural gases has increased around 70% since 2012.
Countries around the world focus on gaining maximum sea area to dominate the geopolitics & international trade. The sea route is crucial from a commercial perspective as it contributes to the majority of inter-continental trade operations. For instance, the Indian ocean is the key connectivity between almost all Asian countries, thus major economies in the region including China, India & Japan are focused on gaining maximum sea area to maintain leadership in the region. For instance, In 2015, the Indian government launched Sagarmala projects focused on the construction of ports throughout its coastline to improve marine connectivity & increase trade with southeast Asia and the Middle East & African countries.
Based on port type the market has been segmented into a seaport, warm water port, inland port, dry port, and other ports. The seaport segment accounted for the largest market size in 2019, as the port infrastructure Management Services are in high demand due to heavy sea traffic around the world.
The inland port segment is expected to grow moderately till 2022 and at a higher rate between 2023 to 2027, as the development of the inland port is in progress in most of the developing countries to improve transportation of goods. The inland ports and dry ports are directly connected to the seaport by road or rail for transportation of goods to and from the main ports to different coastal cities.
A warm port is a port where the water doesn’t freeze throughout the year, such ports are operational round the year therefore holds great economic importance. few examples of warm ports include Valdez port in Alaska and Japan’s Kushiro port. The infrastructure management services required at such ports as high as the sea traffic is high at such ports throughout the year.
There are two key applications of port infrastructure management services, it can be used in passenger luggage management and cargo management. The cargo management segment comprises of the largest application segment, as the world is mainly interconnected with the sea route. The container shipment is the largest application case in cargo shipping, which nearly accounts for $12 trillion sea-trade in 2017. The cargo segment requires heavy transportation & logistic resources, that are managed using port infrastructure management systems.
Port infrastructure management plays a crucial role in reducing port operational costs and helps in the proper management of all the resources for loading & unloading of cargo, storage & transportation of goods from ports.
The Asia Pacific is the largest market for port infrastructure management systems in 2019, Asia pacific alone has more than 1719 ports out of which China alone has around 400 ports, Japan has 325 Ports, and India has 68 Ports. The region is a prime exporter of electronics, electricals, automotive, toys, food & grocery, and other important goods to western countries. Out of the top 50 ports in the world, the top 10 are situated in the Asia Pacific region, top 7 in China, Shanghai being on top of the list.
The Middle East is expected to gain prominence in the upcoming few years as the export of oil has increased significantly, also the trade relationship between middle eastern countries and western countries is improving resulting in the greater import of goods from Europe & Asia Pacific.
The players in this market are differentiated into two main categories, contractors & equipment manufacturers. Largest port infrastructure management companies include ACS Group, Hyundai Engineering, Consolidated Engineering Construction Co., Bechtel, and Danube Ports Network Company.
Various handling equipment is required on ports for loading & unloading of cargo, key companies offering such port infrastructure equipment are OAO Baltkran, Cargotech, C.V.S. SpA, Demag Cranes, Fantuzzi, and Liebherr. Companies in this market operate on a contract basis which is often chosen through the tender process. Only large companies operate in this particular market owing to high initial investment requirements.
|Base year for estimation||2019|
|Actual estimates/Historical data||2017 – 2019|
|Forecast period||2020 – 2027|
|Market representation||Revenue in USD Billion & CAGR from 2020 to 2027|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Country scope||U.S., Canada, UK, Germany, France, China, India, Japan, South Korea, Taiwan, Brazil, Mexico, UAE, and KSA|
|Report coverage||Market size estimates and forecast, company market share analysis, competitive landscape, market dynamics, drivers, restraints, opportunities & challenges, qualitative analysis and trends|
|25% free customization scope (equivalent to 9 analysts working days)||Do you have any additional requirements? We can incorporate the same at no extra cost.|
For the purpose of this report market research has segmented the global port infrastructure market based on type, end-user, and the region as mentioned below:
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