Port Infrastructure Market Expected to Reach $243.1 Billion by 2030

WILMINGTON, DELAWARE, November 23, 2023 /EINPresswire.com/ -- The planning and design of port infrastructure play a pivotal role in meeting the dynamic needs of maritime, logistics, and transportation industries. Serving as the operational hub for ships, cargo, and passengers navigating through the port, this infrastructure forms the backbone of port activities. Expanding port infrastructure involves substantial capital investment and entails a prolonged implementation period, necessitating meticulous long-term planning.

The port infrastructure market size was valued at $148.1 billion in 2020, and is estimated to reach $243.1 billion by 2030, growing at a CAGR of 4.9% from 2021 to 2030.

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The use of automation in port infrastructure is growing over years. The use of IoT and AI for cargo and transport management can shorten the time necessary for waterway transport delivery. Hence, this is likely to offer new opportunity for the port infrastructure market share. A country's economic progress is aided by efficient trade activities. As a result, sea ports play an important role in economic activities, particularly in coastal locations. Every year, the number of passengers travelling by sea and the number of commodities transported by water increase at a substantial rate. As a result, this aids in the development of the market.

The global port infrastructure market is poised for growth, driven by an upsurge in public investment aimed at ensuring the safety and efficiency of economic activities. Furthermore, the increasing demand for the sea transport of liquefied natural gas exports is anticipated to be a significant contributor to market expansion. Many industries rely on ocean shipping for the import and export of goods on a global scale, given that waterway transport is a more cost-effective alternative compared to air freight. This cost advantage is expected to further propel market growth throughout the forecast period.

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Segmentation Based On:

The global port infrastructure industry is segmented into port type, application, construction type, and region.

On the basis of port type, the market is classified into sea port and inland port. Depending on application, it is bifurcated into passenger and cargo.

By construction type, it is segregated into terminal, equipment, and others.

Region wise, the global port infrastructure market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Top Players:
The major players profiled in the port infrastructure market include Adani Ports and SEZ, AECOM, APM Terminal, Colas, Essar Ports Ltd., IL&FS Engineering & Construction Company Ltd., Larsen & Toubro Ltd., Man Infraconstruction Ltd., Ramboll, and WSP Global Inc.

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David Correa
Allied Analytics LLP
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