Port Construction Middle East and Africa Market 2018-By Facilitate Decision Making on the Basis of Historic and Forecasts Data 2022
PUNE, INDIA, April 13, 2018 /EINPresswire.com/ — Synopsis
Port trade in the region has been improved by the resurgence of oil prices and the increase in trade from Iran which is now a major oil exporter after sanctions were lifted in 2016. The Gulf Co-operation Countries (GCC) are forecast to achieve 2.7% growth in 2018, compared with 0.3% in 2017, assisted by higher oil prices. The Middle East has added more than 2 million barrels per day (b/d) of refining capacity since 2005, an increase of nearly 30%, which will increase trade through the region's ports. Overall, refining capacity in the region is estimated to grow from 7.75 million b/d in 2015 to 9.84 million b/d by 2025, which will increase exports. The improvement in demand for commodities should provide relief for the economies in Africa where dependence on commodity exports is high. This in turn will increase the need for higher capacity ports in the region, with increased activity particularly in the East African ports of Djibouti, Mombasa, Dar-es-Salaam and Maputo, Mozambique.
Construction Intelligence Center (CIC) is currently tracking port construction projects in the Middle East and Africa with a total value of US$122.6 billion; of this, US$62.5 billion is in the execution stage. Mozambique accounts for the highest value with US$12.1 billion, followed by Saudi Arabia with projects valuing US$10.1 billion. Kuwait and Iraq follow with port construction projects with a value of US$9.0 billion and US$8.0 billion respectively. Kuwait is responsible for the highest value project in the region: the US$9.0 billion Mubarak-Al-Kabeer Port Development, followed by the US$8.0 billion Basra Grand Faw Port Development in Iraq.
The report provides analysis based on CIC projects showing total project values for the Middle East and Africa and analysis by stage and funding for the top ten countries. The top 50 projects are listed for the region giving country, stage, value of port construction. Ranked listings of the key operators for the sector are also provided, showing the leading contractors, consulting engineers and project owners. Country profiles are provided for the top 10 countries, including Mozambique, Saudi Arabia and Kuwait.
Reasons to Buy
• Gain insight into the development of the port construction sector.
• Assess all major projects by value, start date, scope and stage of development for the region and top 10 countries to support business development activities.
• Plan campaigns by country based on specific project opportunities and align resources to the most attractive markets.
• The total pipeline of projects is valued at US$122.6 billion with US$16.1 billion being spent in 2018 and US$23.7 billion in 2019.
• The highest value of projects are at the execution stage with a total value of US$62.5 billion, followed by projects in pre-execution with US$28.1 billion.
• Projects in the planning stage amount to US$18.8 billion, while those at the pre-planning stage total US$13.2 billion.
• Assuming all projects proceed as planned, spending will reach US$23.7 billion in 2019 and fall to US$6.6 billion in 2022. The highest value of project completions will be in 2021, with a value of US$25.1 billion.
• The top contractor in the region is China Communications Construction Co Ltd (CCCC) based in China and Hyundai Engineering & Construction Co. Ltd based in South Korea. The top engineer is Marine Core & Charter and Technital SpA both based in the US.
Table of Content: Key Points
1. Regional Overview
2. Key Operators
3. Project Analytics by Country
3.2. Saudi Arabia
3.9. The UAE
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Source: EIN Presswire