Globalization has resulted in a greater emphasis on international commercial operations, which has resulted in a significant increase in spending for the development of transportation facilities such as roads, trains, rivers, and airports. Among these, the port infrastructure market is expected to grow the most during the forecast period (2017-2025), owing to increased maritime trade and large expenditures in infrastructure development in Asia Pacific and Middle Eastern growing economies.
Throughout the projection period, demand for energy and container port building is expected to be high. Over the last 50 years, the exponential rise in demand for container shipping has had a significant impact on international trade, thanks notably to the streamlining of operations and cost reductions obtained through standardised container shipments. This has resulted in extraordinary investment in container hub building and containerized cargo upgrading. Furthermore, big scale fuel handling projects, such as Saldanha Bay (South Africa) and new oil terminals in Mombasa (Kenya), are projected to find high demand with an emphasis on particular fuel handling, such as oil, gas, or coal.
According to the United States Department of Energy's International Energy Outlook, global natural gas consumption is expected to reach 203 trillion cubic feet (tcf) by 2040, a 70 percent increase over 2012 figures. Growing requirement for fuels, prominently in emerging economies such as China, India, Mexico and Indonesia, will provide solid growth platform through the forecast period.
Vibrations and noise generated by cargo operations has an adverse effect on the people and the flora and fauna in the vicinity. Moreover, large volumes of waste are generated that include dredged materials, oily mixtures and garbage discharged from ships, and other solid and liquid wastes. These usually end up disposed of in the nearby area or sea, in turn polluting the environment. Requirement to reduce the environment impacts have led to several initiatives such as Clean Air Act Advisory Committee in the U.S. and Port of the Future agenda by European Commission. Growing concerns regarding the environmental impacts and requirement to set up efficient waste management is expected to present major growth challenge.
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