Overview and Scope
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.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the marine and ports construction market report are 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
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
…
32. Global Marine And Ports Construction Market Competitive Benchmarking
33. Global Marine And Ports Construction Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Marine And Ports Construction Market
35.Marine And Ports Construction Market Future Outlook and Potential Analysis
36. Appendix
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