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Marine And Ports Construction Global Market Report 2023

Jan 23, 2024Jan 23, 2024

Major players in the marine and ports construction market are A.P. Moller - Maersk, DP World Limited, Ningbo Zhoushan Port Company Limited, Shanghai International Port Co. Ltd., Tianjin Port Development Holdings Ltd.

New York, June 06, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Marine And Ports Construction Global Market Report 2023" - , International Container Terminal Services Inc., Mitsubishi Logistic Corporation, Shipping Solutions and Services Ltd., APM Terminals, CK Hutchison Holding Limited, PSA International, CarboShield Inc., McCarthy Building Companies Inc., and PCL Constructors Inc.The global marine and ports construction market is expected to grow from $39.98 billion in 2022 to $42.33 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The marine and ports construction market is expected to reach $45.74 billion in 2027 at a CAGR of 2.0%.The marine and ports construction market includes revenues earned by entities by constructing jetties, quays, bulkheads, and breakwaters.The market includes new work, additions, alterations, maintenance, and repairs.The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.Marine and port construction refer 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.North America was the largest region in the marine and ports construction market in 2022.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 and Africa.The main marine and ports construction port types are sea port, inland port, and other types.A seaport is a harbor or port on a seacoast, river, or other navigable body of water that serves as a docking location for ships and boats to load or unload cargo, passengers, or fuel.The various construction types are terminal, equipment, and others. The various products types are old port upgrade, and new port construction applied to dredging, breakwater construction, wharf or jetty construction, docks, berths, terminals, and enabling infrastructure.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, 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.Product innovations are a key trend gaining popularity in the marine and port construction market.Companies operating in the marine and port construction market are adopting innovative products to sustain their position in the market.For instance, in March 2020, Teledyne Marine, a US-based manufacturer of unmanned underwater vehicles operating throughout the water column, launched the Teledyne Z-Boat 1800T, an unmanned surface vessel for marine construction and dredging.It is uniquely designed with a high-precision GNSS (global navigation satellite system) heading receiver that is compatible with Trimble Marine Construction (TMC) software, which increases the efficiency of marine construction and real-time monitoring.It is paired with high-accuracy sonar that provides superior data collection.In December 2022, MarineMax, Inc, a US-based retailer of recreational boats and yachts, as well as a superyacht services company, acquired Midcoast Construction Enterprises, LLC (Midcoast Marine Group) for an undisclosed amount.This combined resource acquisition is expected to complement Marinemax's portfolio and add valuable skillsets to service offerings.Midcoast Construction Enterprises, LLC is a US-based full-service marine construction company that specializes in all aspects of heavy civil and commercial marine construction.The countries covered in the marine and ports construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The marine and ports construction market research report is one of a series of new reports that provides marine and ports construction market statistics, including marine and ports construction industry global market size, regional shares, competitors with a marine and ports construction market share, detailed marine and ports construction market segments, market trends and opportunities, and any further data you may need to thrive in the marine and ports construction industry. This marine and ports construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: ReportlinkerReportLinker is an award-winning market research solution. 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