Global Marine And Ports Construction Market Size 2024, Forecast To 2033
11 Mar, 2024
The marine and ports construction market has experienced steady growth, increasing from $42.58 billion in 2023 to $44.61 billion in 2024, reflecting a compound annual growth rate (CAGR) of 4.8% during the historic period. This growth can be attributed to robust economic expansion in emerging markets, the expansion of seaborne trade, the modernization of existing ports, and increased world trade activities. Looking forward to 2028, the market is expected to maintain steady growth, reaching $51.86 billion at a CAGR of 3.8%. The anticipated growth in the forecast period is driven by supportive government investments, the construction of new ports, the growth of tourism, and an expanding population. Key trends in the forecast period include a focus on developing zero-carbon port terminals to reduce carbon emissions, facility expansions, the utilization of innovative machines and equipment for port construction, partnerships, collaborations, and increased investments for continuous improvement.
Global Marine And Ports Construction Market Key Driver
The anticipated surge in demand for maritime trade is set to drive the growth of the marine and port construction markets. Maritime trade, the cross-border transportation of goods between countries, serves as a cost-effective and efficient method for global cargo transportation. Ports, crucial maritime constructions located near bodies of water, facilitate the loading and unloading of cargo and passengers. The construction of large ports and marine structures is essential for managing the influx of goods from ships. In October 2022, the United Nations Conference on Trade and Development (UNCTAD) reported that Asia remained the leading maritime freight region, with Asian ports handling approximately 4.6 billion metric tons of goods, representing 42% of total global port goods loaded. Asian ports also received 64% of the total goods discharged globally in 2021. Thus, the surge in maritime trade continues to propel the marine and port construction markets. As of 2023, this market aligns with the global trends in maritime trade.
Get A Free Sample Of The Global Marine And Ports Construction Market ReportGlobal Marine And Ports Construction Market Segments
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
By Geography:The regions covered in the marine and ports construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the marine and port construction market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the marine and ports construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Marine And Ports Construction Industry Players
China Communications Construction Co Ltd, Grupo ACS, China State Construction Engineering Construction Co Ltd, Hyundai Engineering and Construction Co Ltd, Strabag SE,DEME Group, Ningbo Zhoushan Port Company Limited, Boskalis, Bechtel Corporation, McCarthy Building Companies Inc, China Merchants Group, The Great Eastern Shipping Company Limited, Keller, TAMS Group, SMC Marine, Coastwide Civil, Geomarine, Teo Marine Limited, Vinci Construction Maritime et Fluvial, Heerema Marine Contractors, Dredging International, Budimex SA, Sovfracht Group, Hydrobudowa Polska SA, FESCO, AECOM, Midcoast Construction Enterp, Manson Construction Co, Construcciones Industriales Tapia, PCL Construction, Ballard Marine Construction, CMC SUBSEA, Orion Marine Group, Wilson Sons, Naval Martins, Santos Brasil
Get The Full Global Marine And Ports Construction Market ReportMarine And Ports Construction Market Overview
Marine and port construction refers to the building of structures near bodies of water, such as oceans, rivers, ports, and harbors. This includes the construction of piers, wharves, and seawalls used for the loading and unloading of cargo and passengers from ships.
Marine And Ports Construction Global Market Report 2023 provides data on the global marine and ports construction market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The marine and ports construction market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.