West Coast Continues to be Major Demand Generating Region in India Ports Infrastructure Market
Growing technological advancements along with
favorable government initiatives towards sea transport to boost India ports infrastructure
market through 2024
According to TechSci
Research report “India Ports Infrastructure Market By Type, By Commodity, Competition, Forecast &
Opportunities, 2014 - 2024’’, India ports infrastructure market is anticipated to
be driven by rising number of developments at major ports and growing trade
among nations, which can be attributed to the country’s growing manufacturing
sector and rapid urbanization. Few major companies operating in India ports
infrastructure market include Adani Ports and Special Economic Zone Limited
(APSEZ), Essar Ports Limited, DP World Private Limited, Krishnapatnam Port
Company Limited (KPCL), and Shipping Corporation of India Limited, among others.
On the basis of type, India ports infrastructure market is categorized into major
ports and minor ports. The India ports infrastructure market is primarily dominated
by the major ports, which are Government Undertakings. In 2018, major
ports segment accounted for the majority volume share, and the segment is
likely to maintain its dominance throughout the forecast period as well on
account of more traffic handling capacity and geographic location of major
ports.
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The year 2018 witnessed growth of India ports
infrastructure market owing to initiatives such as Make In India and Sagarmala,
and growth in the country’s manufacturing sector. Moreover, India is not only increasing
its coastal trade but also attracting overseas trade by improving the trade
policies and regulations. For instance, in May
2018, Ministry of Shipping, India announced the relaxation in Cabotage law in
particular for animal husbandry, fisheries, horticultural, and agricultural
commodities.
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“Heavy investments in
liquid and container handling terminals, and development of coastal economic
zones (CEZs) and inland water transport (IWT) sector are the major factors
driving India ports infrastructure market. For instance, in 2018, Kolkata-Patna
Inland Waterway on National Waterway-1 (NW-1) became the second containerized IWT
after handling 16 TEUs of containerized cargo. Moreover, technological
advancements along with rising focus on modernization and capacity enhancement
are further anticipated to positively influence India ports infrastructure
market in the coming years.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India Ports Infrastructure Market By
Type, By Commodity, Competition Forecast & Opportunities, 2014 – 2024” has evaluated the future growth
potential of India ports infrastructure market and provides statistics and
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 decision. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges and opportunities
in India ports infrastructure market.
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