South Africa Port Infrastructure Market Size Set to Touch USD 3 Billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the South Africa Port Infrastructure market size at USD 2.1 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the South Africa port infrastructure market size to grow at a CAGR of 5.3% reaching a value of USD 3 billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the South Africa Port Infrastructure market size at USD 2.1 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the South Africa port infrastructure market size to grow at a CAGR of 5.3% reaching a value of USD 3 billion by 2029. Expanding imports via sea shipments as a less expensive means of transportation and booming international trade are two key development reasons for the South Africa port infrastructure market. Additionally, it is projected that throughout the projection period, increasing private investment to reduce port inefficiencies would present lucrative growth opportunities for the South Africa port infrastructure market.
South Africa Port Infrastructure Market – Overview
The port infrastructure serves as the foundation for port operations that support passing ships, goods, and people. The port location has to include high-capital-investment facilities including piers, basins, stacking or storage spaces, warehouses, and machinery like cranes. They enhance connection, lower the cost of logistics, and ease the flow of products and services—all of which help businesses and industries develop. They also serve as a source of income for the South African nations, whose governments may profit from land leases.
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South Africa Port Infrastructure Market
Segmental Information
South Africa Port Infrastructure Market – By Construction Type
Based on construction type, the South Africa port infrastructure market is segmented into terminals, equipment, and others. The terminal segment holds the largest share by construction type in the South Africa port infrastructure market. They are crucial in handling large amounts of freight, and therefore, are garnering significant investments from private players. Furthermore, the integration of information technology in port terminal operations is also contributing to its market growth to improve the overall efficiency, safety, and security of the port, along with boosting the profitability.
Impact of COVID-19 on the South Africa Port Infrastructure Market
The unprecedented COVID-19 pandemic limited the growth of the South Africa port infrastructure market. The major factor that negatively impacted the market growth is the limitations on cross-border trade to prevent the spread of the virus. Furthermore, the operations of construction activities were completely barred due to a shortage of labor, which led to the restriction of the construction of ports as in South Africa. However, the market is anticipated to gain traction in the post-COVID-19 period as a result of surging shipment of vaccines and other healthcare-related cargo.
Competitive Landscape
Major players operating in South Africa port infrastructure market include Transnet SOC Ltd, Durban Container Terminal (DCT), APM Terminals, DP World, MSC (Mediterranean Shipping Company), Maersk Line, Grindrod Shipping, Bidvest Group, TPT (Transnet Port Terminals), and TNPA (Transnet National Ports Authority).
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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