The Marine And Ports Construction by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Marine And Ports Construction, The marine and ports construction market size has grown steadily in recent years. It will grow from $42.58 billion in 2023 to $44.61 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to strong economic growth in emerging markets, the expansion of seaborne trade, the expansion and modernization of existing ports, and increased world trade activities.
The marine and ports construction market size is expected to see steady growth in the next few years. It will grow to $51.86 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%. The growth in the forecast period can be attributed to supportive government investments, the increasing construction of new ports, the growing tourism, and the growing population. Major trends in the forecast period include focus on developing zero-carbon port terminals to reduce carbon emissions, new facility expansions, use of innovative machines and equipment for port construction, partnerships and collaborations, and increasing investments to improve.
The surge in demand for maritime trade is expected to propel the growth of the marine and port construction markets going forward. Maritime trade is the transport of goods across international borders between two countries. It is a low-cost, efficient method of transporting goods from one country to another. Ports are maritime constructions located near bodies of water, primarily seas, oceans, and rivers, where ships load and unload cargo and passengers. Marine and port constructions are useful in the construction of some of the large ports and marine to load and unload goods from ships, thus, a rise in maritime trade will propel the market growth. For instance, in October 2022, according to the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental organization, Asia remained the world’s leading maritime freight region, with Asian ports (both developed and developing) loading approximately 4.6 billion metric tons of goods, accounting for approximately 42% of total goods loaded in ports worldwide. Asian ports received approximately 7.1 billion metric tons or 64% of the total goods discharged globally in 2021. Therefore, the surge in demand for maritime trade is driving the growth of the marine and port construction markets going forward.
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The marine and ports construction market covered in this report is segmented –
1) By Port Type: Sea Port, Inland Port, Other Types
2) By Construction Mode: Old Port Upgrade, New Port Construct
3) By Application: Dredging, Breakwater Construction, Wharf or Jetty Construction, Docks, Berths, Terminals, Other Applications
Companies operating in the marine and port construction market are focusing on developing zero-carbon port terminals to reduce carbon emissions. For example, in December 2021, COSCO Shipping Ports, a China-based port operator launched a zero-carbon port terminal at the northern port of Tianjin, China that is powered by wind and photovoltaic energy (PV), achieving zero carbon emission in energy consumption and production. The smart green energy system was connected to the grid at the Second Container Terminal of Tianjin Port. It includes two 4.5 MW (megawatt) distributed wind turbines, which can generate 23.3 million kWh (kilowatt-hour) of electricity annually and reduce carbon emissions by 20,600 tons per year.
The marine and ports construction market report table of contents includes:
1. Executive Summary
2. Marine And Ports Construction Market Characteristics
3. Marine And Ports Construction Market Trends And Strategies
4. Marine And Ports Construction Market – Macro Economic Scenario
5. Global Marine And Ports Construction Market Size and Growth
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26. South America Marine And Ports Construction Market
27. Brazil Marine And Ports Construction Market
28. Middle East Marine And Ports Construction Market
29. Africa Marine And Ports Construction Market
30. Marine And Ports Construction Market Competitive Landscape And Company Profiles
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