Advancing infrastructure demands are driving the growth of Saudi Arabia Port infrastructure Market, in the forecast period, 2022-2026.
According to TechSci report on, “Saudi Arabia Port Infrastructure Market By Elements (Port Terminals, Port Operational Equipment, Others) By Type (Sea Port, Dry Port, Container Terminals, Others) By Thrust (Portable, Mid-range, High Power) By Region, Competition Forecast & Opportunities, 2026”, Saudi Arabia port infrastructure market has shown promising growth in historical years until 2019 and is expected to continue its growth in upcoming forecast years 2021 to 2026. Saudi Arabia port infrastructure market owes its growth to the factors like rapidly increasing demands for the better and efficient port infrastructure to maintain the shipment commercial, industrial or recreational. The market is expected to register an esteemed growth on the account of expanding business through sea shipment and sales. The Kingdom of Saudi Arabia is one of the largest exporters of oil and petroleum and the expanding oil and petroleum industry is one of the major factors supporting the growth of the Saudi Arabia port infrastructure market in the next five years of forecast until 2026.
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The Saudi Arabia port infrastructure market segmentation is based on elements, type, thrust, competitional landscape, and regional distribution. Based on type, the market is further bifurcated into seaport, dry port, container terminals, others. Seaport is anticipated to hold the largest revenue shares of the market and assert its dominance over the market segments on the account of rapidly increasing demand for the seaports for the commercial and industrial supply chains. The country owes its economic growth to the seaports that are actively involved with the exports of oil and petroleum through the sea routes to other countries. Also, container terminals are expected to register significant growth in the upcoming five years on the account of growing demand for the port infrastructure management. Moreover, rapidly increasing demand from the energy sector is further substantiating the growth of the Saudi Arabia port infrastructure market in the next five years.
Based on elements the market is further sub-segmented into port terminals, port operational equipment, and others. Port terminals are anticipated to generate the maximum revenue shares of the market and dominate the segment on the account of regular shipments that dock. Moreover, the supply of oil and petroleum to the global countries is also carried out through these terminals, that are actively driving the growth of the Saudi Arabia port infrastructure market in the upcoming five years. Additionally, the Kingdom of Saudi Arabia has ten major ports for the industrial and commercial utilization, namely, Jeddah Islamic Port, King Abdulaziz Port Dammam, King Fahad Industrial Port Yanbu, King Fahad Industrial Port Jubail, Jubail Commercial Port, Yanbu Commercial Port, Jizan Port, Ras al Khair Port, Ras Tanurah Saudi Aramco Port, and Dhiba Port. The transportation from these ports solely accounts for the 70% of the country’s economy.
A partial list of market player in the Saudi Arabia port infrastructure market includes Zamil Operations and Maintenance Company, Limited (Zamil O&M), Gulf Stevedoring and Contracting Co. Ltd. (GSCCO), Arab Agricultural Services Co. (ARASCO), Red Sea Marine Services Co. Ltd., National Port Services Co. Ltd., Gulf Construction Company for Cargo and Offloading Ltd., Global Marine Services Company, National Port Services Company Limited, Saudi Maintenance Organization (SIANCO), National Ports Services Company (NPS), among others. These market players hold larger shares of the market than the new market players. With the evolving technology, it is appropriate to say that the effective research and development of the technologically advanced instruments and methods to satisfy consumer demands would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide such products and services that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“The Kingdom of Saudi Arabia benefits largely from the sea trades and major consumer goods and retails are often supplied through the seaports. Infrastructure evolution is one of the major reasons that port infrastructure market in the country is growing. To further aid the well-organized trade activities, the consistent development is required. New market players may research and work on the advanced technology for the efficient working and effective monitoring of the ports in the country,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Port Infrastructure Market By Elements (Port Terminals, Port Operational Equipment, Others) By Type (Sea Port, Dry Port, Container Terminals, Others) By Thrust (Portable, Mid-range, High Power) By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Saudi Arabia port infrastructure market and provides statistics & information on market size, structure and future market growth. The report intends 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 in Saudi Arabia port infrastructure market.
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