Marine And Ports Construction Market Set to Reach $92.16 Billion by 2029 with 6.7% Yearly Growth

How Are the key drivers contributing to the expansion of the marine and ports construction market?
The growth of marine and port construction markets seems to be on the uptick, thanks to an increase in maritime trade demand. Maritime trade, which involves the transportation of goods across international boundaries between two different countries, is an efficient and cost-effective way of transporting goods. Ports, which are maritime structures located near water bodies such as oceans, seas, and rivers, provide a platform where cargo and passengers are loaded and unloaded off ships. The construction of marine and port facilitates loading and unloading of goods from ships at large ports thus, an increase in maritime trade could mean a spike in the market growth. For example, in October 2022, the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental organization, reported that Asia remained the global leader in maritime freight. Asian ports- both developed and developing- loaded approximately 4.6 billion metric tons of goods, which translated to roughly 42% of all goods loaded in ports worldwide. Reported figures also show that Asian ports received approximately 7.1 billion metric tons, or 64%, of all goods discharged around the world in 2021. Consequently, this increasing demand for maritime trade is fueling the growth momentum of the marine and port construction markets.

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What growth opportunities are expected to drive the marine and ports construction market's CAGR through 2034?
The size of the marine and ports construction market has demonstrated robust growth in the past few years. The market is projected to rise from $66.7 billion in 2024 to $70.99 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.4%. The growth during the historical period can be associated with vigorous economic expansion in emerging markets, the surge in maritime trade, the enlargement and updating of current ports, and heightened global trade activities.

Anticipated robust expansion in the marine and ports construction market is set to reach $92.16 billion by 2029, witnessing a compound annual growth rate (CAGR) of 6.7%. This encouraging growth projection over the forecast period is primarily due to favorable government investments, emerging construction of new ports, amplified tourism, and population growth. Noteworthy trends for the forecast period incorporate emphasis on crafting zero-carbon port terminals to minimize carbon emissions, extending new facilities, the employment of inventive machines and equipment for port building, partnership and collaborations, coupled with escalating investments for enhancement.

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How are the latest trends influencing the growth of the marine and ports construction market?
Firms in the marine and port construction sector are shifting focus towards creating carbon-neutral port terminals to decrease their carbon output. A case in point is APM Terminals, a shipping company from the Netherlands, partnering with the UAE-based logistics firm DP World in December 2023 to introduce the Zero Emission Port Alliance at COP28. The alliance aims to speed up the adoption of battery-powered container handling equipment in ports, with an emphasis on cost-effectiveness, easy access, and compatibility. This includes increasing production capacity to slash costs, reducing battery and charging solution costs, equipping terminal operators and grid infrastructure for transition, and improving circumstances for zero-emission fleets. The Zero Emission Port Alliance aims to cultivate cooperation within the port ecosystem, striving to make battery-operated container handling equipment a viable alternative to diesel in 2-8 years, thereby encouraging substantial decarbonization in the sector.

Which growth-oriented segments of the marine and ports construction market are leading the industry's development?
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

Subsegments:
1) By Sea Port: Container Terminals, Bulk Cargo Terminals, Passenger Terminals
2) By Inland Port: Intermodal Freight Terminals, River Ports, Rail Or Truck Transfer Facilities
3) By Other Types: Marinas, Fishing Ports, Special-Purpose Ports

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What regions are leading the charge in the marine and ports construction market?
North America was the largest region in the marine and port construction market in 2024. 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.

What companies are at the forefront of innovation in the marine and ports construction market?
Major companies operating in the marine and ports construction market include 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

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What Is Covered In The Marine And Ports Construction Global Market Report?

• Market Size Forecast: Examine the marine and ports construction market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the marine and ports construction market for a structured understanding.
• Key Players Overview: Analyze major players in the marine and ports construction market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the marine and ports construction market.
• Segment Contributions: Evaluate how different segments drive overall growth in the marine and ports construction market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the marine and ports construction market.
• Industry Challenges: Identify potential risks and obstacles affecting the marine and ports construction market.
• Competitive Landscape: Review strategic developments in the marine and ports construction market, including expansions, agreements, and new product launches.

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