Marine and ports construction refers to the building of various structures on a coast or shore that help to prevent damage to the property located near the water, as well as being used for the loading and unloading of cargo and passengers from ships. These include the terminals, bulkheads, seawalls, retaining walls, revetments, quays, warehouses, docks, piers, harbors, stacking or storage areas and others.
The marine and ports construction market consists of sales revenues earned by entities (organizations, sole trader and partnerships) that undertake marine and ports construction projects. The work performed may include new work, additions, alterations or maintenance and repairs.
The global marine and ports construction market was valued at $43,318.1 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 7.0%.
Growth In Manufacturing And Heavy Industries
Growth in manufacturing and heavy industries propelled the growth of the marine and ports construction market. Increased industrial activity drives demand for efficient transportation, necessitating port infrastructure development. Growing manufacturing and heavy industries require ports capable of handling larger vessels and cargo volumes, prompting investments in port construction projects for terminal, berth and navigational channel development to meet this demand. For instance, in August 2022, according to Investopedia, the US-based leading source of financial content, in 2020, China's manufacturing and industrial sector accounted for approximately 38% of the country's gross domestic product (GDP). Additionally, in June 2022, according to Bain & Company, Inc., a US-based management consulting company, India's manufacturing exports surged to an unprecedented $418 billion in FY21-22, marking a remarkable growth of over 40%, compared to the previous year's $290 billion. India's manufacturing sector contributed 3.1% of the country's gross domestic product (GDP). Therefore, growth in manufacturing and heavy industries supported the growth of the marine and ports construction market during the historic period.
Introduction Of Smart, Driverless And Zero-Carbon Port Terminals To Enhance Efficiency
The introduction of a smart, driverless and zero-carbon port terminals is a key trend in the market, which signifies a transformative leap towards automation and intelligence. These innovative terminals integrate cutting-edge technologies, such as autonomous driving and zero-carbon solutions, to enhance efficiency and sustainability. For example, in January 2023, Tianjin Port (Group) Company, a China-based container port operator, partnered with Huawei Technologies Co., Ltd., a China-based multinational digital communications technology conglomerate corporation, to build a digital twin of the world's first smart, driverless, zero-carbon port terminal, making it more automated and intelligent. Employing 5G and L4 autonomous driving technologies at the terminal enhances safety and efficiency. Remotely controlled quay cranes lift loaded containers from cargo ships and transfer them to intelligent robots for horizontal transportation, streamlining operations.
The global marine and ports construction market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 27.02% of the total market in 2022.
Marine And Ports Construction Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global marine and ports construction market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for marine and ports construction? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The marine and ports construction market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider marine and ports construction market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by port type, by construction mode and by application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the marine and ports construction market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by port type, by construction mode and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for marine and ports construction providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 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 Mentioned: China Communications Construction Co., Ltd; Grupo ACS; China State Construction Engineering Corporation Ltd; Hyundai Engineering and Construction Co., Ltd; Strabag SE
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia; Saudi Arabia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; marine and ports construction indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.