A recent report ongoing by Infinium Global Research on the port infrastructure market provides in-depth analysis of segments and sub-segments in the global as well as regional port infrastructure market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional port infrastructure market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global port infrastructure market. According to the report, the global port infrastructure market is projected to grow at a CAGR over the forecast period of 2021-2027.
The global economy has seen exponential growth in recent years. Approximately 80% of the international freight transportation takes place by the sea. Ports play an important role in sea transportation. Having a port equipped with state-of-the-art machinery and the ability to handle robust sea freight is the prerequisite today for strong economic growth. Thus, there has been a flurry of new port development projects around the world. Further, boosting the port infrastructure industry. Ports can be divided in two main categories such as major and minor. Along with seaports, the inland water ports over major rivers is also gaining importance. The concept of dry ports has further helped in simplifying cargo handling over land.
The strong growth in the shipping industry is driving the port infrastructure market. The tremendous growth in international cargo transportation is fuelling the growth of the shipping industry. Furthermore, the increasing foreign trade and expanding global supply chains have supplemented the growth of the shipping industry. With the volume of international freight and cargo traffic increasing on yearly basis the global shipping industry is expected to grow. Therefore, the existing port infrastructure needs to be upgraded and new alternate ports need to be constructed to cater to the tremendous rise in shipping. The governments are also investing on large scale in port infrastructure in line with their economic and strategic objectives. India is planning on investing USD 82 billion in port projects till 2035. The ambitious projects by India such as Sagarmala present growth opportunities for many port infrastructure companies. On the other hand, China has been investing heavily in ports around the world. The growing tourism industry is further boosting the port infrastructure market. Increasing tourism cruises, private luxury yachts, and ships are increasing the demand for new ports. Separate passenger terminals at sea and inland ports are needed to be constructed. The high cost of port construction projects is the only factor restraining the market. Strong economic growth in developing and under-developing economies present a set of new opportunities for the market. With a major focus on exports and industrial expansion, these countries are expected to invest largely in port development. Also, these countries are growing as a favorable spots for private investment in ports.
Asia-Pacific is expected to hold the largest share in the market followed by North America. Out of 10 major ports in the world 7 belong to China alone. With countries such as India investing heavily in ports Asia-Pacific is expected to be the biggest revenue-generating region in the market. Also, the countries relying on international sea trade such as Singapore and Indonesia. have highly developed port infrastructure. They spend largely to maintain their ports. North America on the other hand has an advanced industrial base and huge oil reserves. Thus, sea transportation is high in this region. Thus, the port infrastructure industry is highly developed in this region.
The report on the global port infrastructure market covers segments such as type, and application. On the basis of type, the sub-markets include sea port, inland port, dry port, and others. On the basis of application, the sub-markets include passenger, cargo, and others.
The report provides profiles of the companies in the market such as Essar Ports Ltd, Adani Ports and SEZ Ltd, Man Infraconstruction Ltd., Ramboll Group, WSP Global Inc., AECOM, Aurecon Group Pty. Ltd., APM Terminal, Larsen & Toubro Ltd, and China Communications Construction Company, Ltd. .
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of port infrastructure market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.