The global port infrastructure market is anticipated to grow at a cagr of 4.1 % between 2020 to 2027, as per a new research report published by UpGraph Research and consultancy. The growth can be attributed to growing Marine transportation and sea-trade and increasing investment by government and private companies in the port infrastructure market. The container shipping industry is witnessing the growth of 4—4.5% each year in the cargo volume, which is a clear indication of the growing cargo shipping industry and therefore it positively benefits the port infrastructure management market.
The technological enhancement in the vessels carrying cargo has resulted in the increasing size of the vessel in order to improve its container carrying capacity. And in order to park such huge vessels to continue the smooth flow of cargo containers, countries need to build larger ports in order to avoid congestion at ports, therefore the port infrastructure market is expected to witness a high growth rate in the upcoming few years.
The growing import-export trades between various countries around the world have created huge opportunities for the shipping industry, moreover as the Global population is growing at a faster pace the demand for goods and services will continue to grow in the future. The governments and authorities will need to expand its existing ports and also build new ports in the upcoming future. The Asia-pacific region emerged as the largest market for the port infrastructure management systems in 2019, Asian countries such as China and Japan are among the leading exporter of goods and services worldwide, China holds more than 400 ports whereas Japan has 325 ports, this indicates the huge market potential for port infrastructure management systems in the Asia Pacific region.
Read detailed analysis and download of free report sample here: Port Infrastructure Market Size, Share & Trends Analysis Report 2020-2027
Key research findings
- The Global port infrastructure management market shall witness growth at a cagr of 4.1 % over the forecast period, growth can be attributed to the rising container shipping industry and international trade.
- The seaport is the largest port type segment in 2019, the England code segment is expected to grow at the fastest growth rate between 2023 to 2027.
- The port infrastructure Management Services include cargo management and passenger luggage management. The cargo management segment is the largest segment with greater than 65% market share in 2019.
- The Middle East and Africa region is expected to witness a high growth rate in the port infrastructure management system market between 2020 to 2027
- The Global port infrastructure management market was terminated by companies such as ACS Group, Hyundai Engineering, Consolidated Engineering Construction Co., Bechtel, Danube Ports Network Company, OAO Baltkran, Cargotech, C.V.S. SpA, Demag Cranes, Fantuzzi, and Liebherr.
For the purpose of this report market research has segmented the global port infrastructure market report based on type, end-user, and the region as mentioned below:
- Port Infrastructure Type Insights
- Sea Port
- Warm-water port
- Inland Port
- Dry Port
- Others (Fishing Port and Cruise Home Port)
- Port Infrastructure Application Insights
- Passenger Application
- Cargo Application
- Port Infrastructure Management Regional Insights
- North America
- The U.S.
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- North America