Port Infrastructure Market is Growing Exponentially in Order to Gain More Demand by 2025

Globalization has led to increased emphasis on international trade activities that has in turn led to substantial increase in spending for the development of transport facilities that include roads, railways, waterways, and airports. Among these, port infrastructure market is projected to witness highest gains through the forecast period (2017-2025), primarily owing to increasing proliferation of sea trade and major investments in infrastructural development in emerging economies of Asia Pacific and Middle East.

Energy and container ports construction are expected to attract large demands though the forecast period

International trade was largely influenced by exponential rise in demand for container shipping, over the last 50 years, specifically owing to the streamlining of processes and reduction in costs achieved through standardized container shipments. This has led to unprecedented investment in construction of container hubs and upgrading of containerized cargo. Moreover, large scale projects for fuel handling, such as Saldanha Bay (South Africa) and new oil terminals in Mombasa (Kenya), are expected to find large demands with focus on specific fuel handling that includes oil, gas or coal.  According to International Energy Outlook, by U.S. Department of Energy, global consumption of natural gas is projected to reach 203 trillion cubic feet (tcf) by 2040, an increase of around 70% in comparison to 2012 stats. Growing requirement for fuels, prominently in emerging economies such as China, India, Mexico and Indonesia, will provide solid growth platform through the forecast period.

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Effective waste management is a major challenge for players in the port infrastructure market

Vibrations and noise generated by cargo operations has an adverse effect on the people and the flora and fauna in the vicinity. Moreover, large volumes of waste are generated that include dredged materials, oily mixtures and garbage discharged from ships, and other solid and liquid wastes. These usually end up disposed of in the nearby area or sea, in turn polluting the environment. Requirement to reduce the environment impacts have led to several initiatives such as Clean Air Act Advisory Committee in the U.S. and Port of the Future agenda by European Commission. Growing concerns regarding the environmental impacts and requirement to set up efficient waste management is expected to present major growth challenge.

Construction of these facilities requires large space and workforce to build and manage smooth operations. This in turn leads to Socio cultural impacts that include village relocation and formation of slums in the vicinity that can negatively impact the growth prospects. However, owing to these factors, Greenfield project development will draw considerable attraction for port infrastructure market owing to lack of imposed constraints prior to projects. The concept elucidates construction on unused lands, to reduce the expenses on remodeling and demolishing of an existing structure.

Geopolitical issues existing in South Asia is projected to drive the port infrastructure market

Major economies in South Asia such as China, Japan, and India are increasingly investing in facilities to increase their influence in the Indian Ocean and gain access to resources and potential high growth markets in Middle East and Central Asia. For instance, development program of Sagar Mala project in India and deep sea Angola port in China will present potential growth platform for port infrastructure market in the region. However, presence of outdated and frequently congested docks in countries such as India, Pakistan, Myanmar, and Bangladesh has in turn led to increased trade activities in advanced shipping facilities of China and Japan. Increasing competition among countries with large coastlines, especially in Asia Pacific, to establish regional superiority is expected to create a highly lucrative growth environment for the global port infrastructure market.

Improving economic conditions in Latin America will help the participants gain strong foothold in the industry

According to Port Technology International journal in November 2014, an estimated total of US$ 28.7 billion investment were to be made in Brazil, Peru, Chile, and Colombia for port infrastructure market. Growing investments in Latin America to improve transportation, strengthen the commodity exports and fulfill the local consumer demands will present significant growth opportunity over the forecast period. The region is characterized by the presence of 92 anchorages and 15 terminals, a significant number of which need to be upgraded. This creates a high growth prospect for the port infrastructure market in the region.

Majority of the big-budget construction projects are lined up by the Gulf Cooperation Council (GCC) for annexation of shipping activities in the region. For instance, Fujairah Oil Terminal, Khalifa Port and Industrial Zone (Abu Dhabi), Boubyan Island (Kuwait), and Sohar Industrial Port (Oman) are few of the major projects. GCC is likely to remain the key focus of port infrastructure market.

Some of contracting companies include ACS Group, Hyundai Engineering, Consolidated Engineering Construction Co, Bechtel, and Danube Ports Network Company. Along with the large number contracting players, industry competition is also characterized by the equipment manufacturers. Some of them include OAO Baltkran, Cargotech, C.V.S. SpA, Demag Cranes, Fantuzzi and Liebherr.

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