Increasing government spending on port infrastructure and the latest initiatives by the union government such as “Sagarmala” to drive the Ports Infrastructure Market across India
According to TechSci Research report, “India Ports Infrastructure Market – By Region, Competition Forecast & Opportunities, 2028,” the India Port Infrastructure Market is expected to grow in the upcoming years and maintain a high CAGR owing to various government initiatives for instance, Sagarmala Program, Blue revolution among others. For India to enhance its export volume through maritime commerce, port infrastructure development is essential and of utmost importance. Approximately 95% of India’s trade, measured in volume and 70% in value, is carried out by sea transport, according to the Ministry of Shipping. India also has 205 designated small and intermediate ports, in addition to 12 large ports.
The National Perspective Plan for Sagarmala calls for the construction of six additional mega ports across the nation. The Indian port and shipping sector is essential to maintaining the expansion of trade and commerce in the nation. India has a coastline of roughly 7500 kilometers, making it the sixteenth biggest maritime nation in the world. The Indian government is a major supporter of the port industry. For projects involving the building and maintenance of ports and harbors, it has permitted FDI of up to 100% under the automatic route. Additionally, it has made it possible for businesses that build and manage inland waterways and inland ports to enjoy a 10-year tax exemption. These considerations imply that a high CAGR is anticipated for the market value of the nation’s port infrastructure industry in the forecast period.
With a coastline that stretches over 7,500 kilometers and a wide network of navigable waterways, India has a sizable marine industry with 12 major and 200 or more non-major ports. About 2400 million tons of cargo is handled annually at Indian ports (MTPA). India’s ports handle over 95% of its foreign commerce in terms of volume and 68% in terms of value. India ranks among the top 5 ship recycling nations in the world and has a 30% market share. In terms of shipping tonnage, India is ranked 18th worldwide. India has 200 minor ports in addition to 12 large ports. 22 maritime ports, agencies, and authorities signed 486 memorandums of understanding (MoUs) totaling USD 47.02 billion for the Maritime India Summit 2021.
India has now joined the club of nations with their own regional navigation satellite system (IRNSS). With a total carrying capacity of 13 Mn GT, India’s commerce fleet consists of 1491 seagoing ships. This initiative’s main goals are to ensure the best possible use of currently available port resources and infrastructure, increase port capacity to draw in more business through seaports, and enhance connectivity across all modes of transportation, including land, rail, inland waterways, sea, and air. A total of 14 coastal economic zones (CEZs) are currently being developed, which is likely to significantly support the expansion of the Indian port infrastructure sector throughout the anticipated time frame. Additionally, the increasing emphasis on technical developments by private ports, such as the International Container Transhipment Terminal, Kochi’s drive-through container scanner facility installation in December 2018, will further boost market expansion during the anticipated period.
Based on Types, the market is segmented into Minor ports and Major ports. The major port type is dominating with a healthy market share and is expected to maintain its dominance in the upcoming years. Better worldwide connection via waterways is increasingly desired as a result of growing global trade, both for passenger travel and freight shipping. Major ports enable the transcontinental movement of greater cargoes. Altered ports will be needed when sea levels rise due to climate change, and current ports will need to adapt to the new weather patterns. Thus, it is anticipated that greater marine traffic will result from increasing maritime trade through important ports. As a result, it is envisaged that the port infrastructure sector would expand in the upcoming years.
Based on Application, the market is segmented into passenger and cargo. The cargo segment is expected to maintain the high market share during the 2024-2028 and maintain a high CAGR in the forecast period. Because of expanding global commerce and expanded supply chains, the cargo sector is expected to experience rapid growth. When there are more exports and imports across continents, there is a greater utilization of cargo transportation. When considerable quantities of equipment components and finished commodities are transported through rivers, there is a tremendous need for cargo transportation, especially for big loads. The demand for cargo has risen in recent years as a result of the expansion of e-commerce due to the increasing delivery of various goods throughout the world. Because of its requirement, cargo is used in the majority of commerce and transportation.
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Key market players in the India Ports Infrastructure Market include:
- (KPCL)
- APM Terminals
- GVK Power and Infrastructure Ltd
- Larsen & Toubro Ltd,
- SKIL Infrastructure Ltd
- Infrastructure Leasing & Financial Services Limited
- Afcons Infrastructure Limited
- Shapoorji Pallonji & Company Private Limited
- JSW Infrastructure Ltd.
- Adani Ports and Special Economic Zone Limited (APSEZ)
- Essar Ports Limited
- DP World Private Limited
- Karaikal Port Private Limited
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“India is anticipated to have the ports infrastructure market’s quickest growth throughout the anticipated timeframe. Marine transport accounts for over 95% of India’s trade in terms of volume and 70% of its trade in terms of value. A number of government-sponsored programs and policies, including the Coastal Berth Scheme and Sagarmala Program, among others, will aid market expansion in the upcoming years. Therefore, these factors are likely to boost the growth of the India Ports Infrastructure market in the upcoming years,” said Mr Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Ports Infrastructure Market By Type (Major Ports and Minor Ports), By Commodity (Liquid, Bulk, Containerized and Others), By Construction Type (Terminal, Equipment and Others), By Application (Passenger and Cargo), By Region, Competition Forecast & Opportunities, 2028,” has evaluated the future growth potential of India Ports Infrastructure Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the India Ports Infrastructure Market.
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