openPR Logo
Press release

Global Harbor Deepening Market Expected to Deliver Dynamic Progression until 2028

01-09-2019 12:34 PM CET | Industry, Real Estate & Construction

Press release from: Fact.MR

Global Harbor Deepening Market Expected to Deliver Dynamic

With seaborne trade gaining importance in terms of economic development of a nation, government organizations are largely investing in harbor deepening activities worldwide. A deeper harbor can accommodate heavy and large container ships allowing expansion of trading activities in the respective region. This has gained higher significance against the backdrop of a beleaguered scenario of international trade due to the China – United States trade war. Although the possibility of improving this condition is true, it is also likely that this scenario can have a throwback on the harbor deepening market, given the likelihood of reduction in shipping activities.

Request a sample Report at: https://www.factmr.com/connectus/sample?flag=S&rep_id=1257

Requirement for harbor deepening in urban development is rapidly increasing however is overpowered by trade maintenance activities, according to a recent Fact.MR study. The study envisages that the harbor deepening market is projected to grow at a steady CAGR of 3.0% in terms of value during the period of forecast, 2018-2028.

Shipping industry has permeated the international trading space. The International Chamber of Shipping revels that more than 50,000 merchant ships, accounting for around 90 percent of worldwide trading via international waters have been in operation. This has led to increasing number of large vessel anchoring, consequently increasing the need for harbor deepening.  

Expanding oil and oil gas sector has remained influential in increasing the harbor deepening activities, especially after the removal of trade restrictions on crude oil exports across major countries. This has translated into an increase in oil exports to an average of 1.1 million barrels per day from the United States alone in 2017. Implementation of technologies also have accelerated the global oil trade, thus raising the need for harbor deepening projects across nations.

Higher cost associated with harbor deepening has had a deepening impact on the overall market. However, this is likely to be offset by favorable government encouragement in terms of budget allocations. The steadily rising harbor deepening activities will coattail rising government funding as a consequence. The Charleston Harbor Deepening project and Savanah Harbor Deepening project are few of the major activities heavily funded by the government, with a large funding of US$ 509 million for the former and additional US$ 100 million for the later. Rising support from government organizations have shored up the harbor deepening projects that are likely to expand at a 2.1% by 2028.

Browse full report along with TOC and List of Figures at: https://www.factmr.com/report/1257/harbor-deepening-market

Harbor deepening activities have also penetrated the cruising space, wherein various projects are being undertaken for facilitating navigation of large cruise vessels. The CLIA (Cruise Lines International Association) has estimated that the cursing industry has seen its pink with increasing number of passengers opting for cruising. The association expects that the passenger count is likely to cross 27 million only for cruising. This math has shaken few of the major ports worldwide, which are increasingly investing in harbor deepening, such as PortMiami.

United States have remained dominant in the North America region, wherein increasing harbor deepening projects are being undertaken funded by the U.S government. The harbor deepening of ports in the country has largely been influenced with the increasing oil exports. Likewise, in terms of freight logistics, Germany holds an upper hand in the European Union. The harbor deepening scenario in the United Kingdom is also a significant one with increasing harbor redevelopment projects such as the Peter Harbor Redevelopment initiative.

Harbor deepening in Japan has taken a rapid upswing on back of increasing foreign trade. The country’s container shipping and seaborne vehicle shipping are other aspects adding fuel to the activity of harbor deepening. Recently, Japan and Singapore have announced a joint feasibility study to promote LNG bunkering for car carriers functioning between these two countries. That said, the country is likely to present lucrative growth opportunities for harbor deepening in the forthcoming years.

Ask Our Industry Expert about this Report - https://www.factmr.com/connectus/sample?flag=AE&rep_id=1257

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

Contact Us

Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/
Blog: https://factmrblog.com/
Read Industry News at - https://www.industrynewsanalysis.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global Harbor Deepening Market Expected to Deliver Dynamic Progression until 2028 here

News-ID: 1482948 • Views: 184

More Releases from Fact.MR

11-09-2020 | Health & Medicine
Fact.MR
PCR and Real-time PCR Molecular Diagnostics Market to Surpass US$ 6 Bn by 2030, …
As per data from the World Health Organization, millions of deaths can be attributed to diseases such as cancer and HIV each year. Further, the recent outbreak of the COVID-19 virus has also created massive demand for effective diagnostics processes. The PCR and real-time PCR molecular diagnostics market has been gaining traction in recent years on the back of investments by PCR diagnostic test manufacturers towards the incorporation of molecular
10-05-2020 | Health & Medicine
Fact.MR
Biobanking Market to Soar to US$ 3.5 Bn by 2027, Notes Fact.MR
Biobanks are a type of repository which is used in the storage of biological samples, including human and animal tissues, which primarily find use in research applications. Consequently, the process of biobanking has become a very important part of medical research and has played a major role in modern science fields such as personalized medications, and genomics. The global biobanking market is expected to grow at a healthy CAGR of ~
Mini LED Market to Expand 7.5X by 2030, Finds New Study by Fact.MR
In recent years, increasing popularity of OLED TVs in China and India has been significantly influencing growth of the mini LED market. With an increase in disposable income of a majority of the population in these countries, the inclination towards smart screens with higher lifespan and better performance is expected to open up numerous growth opportunities for the mini LED market. Moreover, aspiring and affluent households have increased their spending
Uncertainty Surrounding COVID-19 to Shave-off Growth in Electrical Steel Market …
The global electrical steel market has utilized the opportunities in the market over the last decade with sales of electrical steel pegged at US$ 20.4 Bn in 2019. However, sales are set to plummet during in the middle two quarters of 2020 owing to COVID-19. In addition, several automakers have shuttered their production units, causing incalculable loss to the electrical steel market in 2020. However, the demand of electrical steel

All 5 Releases


More Releases for Harbor

Painting Tools Market 2019-25 | Asian Paints, Harbor Harbor Freight Tools.
North America is anticipated to surpass USD 2.5 billion in the overall painting tools market up to 2025. Rapid expansion of construction & automotive industry owing to the increasing technological innovation and advancements will boost industry in the region. For instance, construction application in North America accounted for over 70% share of the overall business in 2018. Additionally, surging demand of paints from the automobiles sector due to the increased
Painting Tools Market 2019-2024 Growth By Industry Players Asian Paints, Harbor …
Germany accounted over 15% of Europe painting tools market in 2016. Presence of major automobile brands including BMW, Mercedes-Benz, Volkswagen, Porsche, Opel and Audi in the country makes it a substantial contributor in European automotive industry. Russia is expected to surpass 20% of the regional industry share by 2024. Global Painting Tools Market share is fragmented owing to presence of large number of industry players. Mergers and acquisition plays a
Painting Tools Market 2019 By Key Vendors Asian Paints, Harbor Harbor Freight To …
Global Painting Tools Market share is fragmented owing to presence of large number of industry players. Mergers and acquisition plays a crucial role in gaining industry share. Painting Tools Market size is estimated to surpass USD 14 billion by 2024. Growing urbanization along with increasing infrastructure spending is anticipated to drive painting tools market growth. Increase in government spending in tourism, commercial & building renovation coupled with rise in retail industry
Painting Tools Market 2018-2024 By Regional Players Asian Paints, Harbor Harbor …
Painting Tools Market size is estimated to surpass USD 14 billion by 2024. Growing urbanization along with increasing infrastructure spending is anticipated to drive painting tools market growth. Increase in government spending in tourism, commercial & building renovation coupled with rise in retail industry has positively influenced the product demand. Sample copy of this Report @ https://www.gminsights.com/request-sample/detail/1843 Construction applications is projected to surpass USD 10 billion by 2024. Rising population,
Painting Tools Market 2018 Top Players are Asian Paints, Harbor Harbor Freight T …
Global Painting Tools Market share is fragmented owing to presence of large number of industry players. Mergers and acquisition plays a crucial role in gaining industry share. Painting Tools Market size is estimated to surpass USD 14 billion by 2024. Growing urbanization along with increasing infrastructure spending is anticipated to drive painting tools market growth. Increase in government spending in tourism, commercial & building renovation coupled with rise in retail industry
Painting Tools Market Forecast 2018-2024 Global Players Harbor Harbor Freight To …
Global Painting Tools Market share is fragmented owing to presence of large number of industry players. Mergers and acquisition plays a crucial role in gaining industry share. Painting Tools Market size is estimated to surpass USD 14 billion by 2024. Growing urbanization along with increasing infrastructure spending is anticipated to drive painting tools market growth. Increase in government spending in tourism, commercial & building renovation coupled with rise in retail industry