Global Dredging Market, By Type (Dipper, Water Injection, Pneumatic, Bed Leveler, Others), Application (Trade Activity, Trade Maintenance, Energy Infrastructure, Urban Development, Coastal Protection, Leisure), Customer (Government, O&G Companies, Mining Companies, Renewables, Others) – Industry Trends and Forecast to 2029.
Dredging Market Analysis and Size
Dredging industry is mainly driven by water-born trade. The sea borne trades account for bulk of world’s trades and are largely impacted by the economic development of the particular region. Dredging initiatives have increased due to increased attention being paid to the tourism industry's enhancements. For instance, in Louisiana master plan, the rising investments up to USD 50 billion have been raised, which will further boost the market's growth owing to the demand for dredging services.
Global dredging market was valued at USD 10.33 billion in 2021 and is expected to reach USD 12.73 billion by 2029, registering a CAGR of 2.65% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Dredging Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Dipper, Water Injection, Pneumatic, Bed Leveler, Others), Application (Trade Activity, Trade Maintenance, Energy Infrastructure, Urban Development, Coastal Protection, Leisure), Customer (Government, O&G Companies, Mining Companies, Renewables, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Royal Boskalis Westminster N.V. (Netherlands), DEME. (Belgium), Jan De Nul (Belgium), Penta-Ocean Construction Co. Ltd. (Japan), TOA Corporation. (Japan), CHINA HARBOUR ENGINEERING CO. LTD (China), NMDC Limited. (India), HYUNDAI E&C. (South Korea), Van Oord (Netherlands), Weeks Marine, Inc. (U.S.), NMDC. (United Arab Emirates), Dock Labs AG (U.S.), VOSTA LMG B.V. (Germany), Royal IHC (Netherlands), CASHMAN DREDGING, INC. (U.S.), Manson Construction Co. (U.S.), TAMS Group Pty Ltd (Australia), JT Cleary, Inc. (U.S.), Callan Marine Ltd (U.S.)
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Market Opportunities
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Market Definition
Dredging is an excavation procedure generally done partially underwater, in shallow water locations to collect bottom sediments and dispose of them at the new sites. It collects sediments from natural resources and transfers them into the vessels. It is usually achieved to maintain rivers and ports passable and secure the big construction of the ports.
Global Dredging Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Accelerating urbanization across the globe
The rising urbanization and the prevalence of market players demanding raw materials supplies have been driving the growth of the market over the forecasted period. The rising demands of supply of raw materials across the globe have led to an increase in trading activities. They have ultimately led to the rise in the growth of the market over the forecasted period. Moreover, the rising urbanization and constructional activities have also led to the growth of the dredging market.
Opportunities
- Increased investments
The growing investment in environmentally friendly and sustainable technologies further offers numerous growth opportunities to the dredging market. Additionally, the rising need for sedimentation-preserving activities and the adoption of advanced technologies for such activities is also boosting the market's growth. The rising construction of ports and waterways are also the factors creating significant lucrative growth opportunities for the market over the forecasted period.
Restraints/Challenges
- High costs
The high costs and the investment costs required for the initial setup and maintenance of the systems are further expected to obstruct market growth over the forecast period.
This dredging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the dredging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Dredging Market
The coronavirus drastically changed the growth patterns of the dredging market amidst pandemic. Manufacturers faced significant difficulties since the trading and related operations were postponed or cancelled due to the restrictions imposed by the government on the market players. The financial crisis and a lack of raw materials and manpower exacerbated the situation for providers. Although the market’s growth is on the rise after the upliftment of the restrictions imposed during pandemic. Dredge activities are speeding up as end-use sectors such as commerce, energy infrastructure, urban development, coastal protection, leisure, and others get back on track, resulting in a steadily growing need for dredging material management.
Recent developments
- In 2022, the dredging corporation of India, a government-owned dredging company, announced plans to repay vendor debts by June 2022 to improve its financial position. These enhancements will help the firm to boost cash flow in the next two to three quarters.
Global Dredging Market Scope
The dredging market is segmented on the basis of type, application and customer. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Dipper
- Water Injection
- Pneumatic
- Bed Leveler
- Others
Application
- Trade Activity
- Trade Maintenance
- Energy Infrastructure
- Urban Development
- Coastal Protection
- Leisure
Customer
- Government
- O&G Companies
- Mining Companies
- Renewables
- Others
Dredging Market Regional Analysis/Insights
The dredging market is analyzed and market size insights and trends are provided by type, application and customer as referenced above.
The countries covered in the dredging market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the dredging market because of the increase in the oil and gas production and consumption along with the prevalence of various market players within the region.
North America is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising investments in the research and development activities within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Dredging Market Share Analysis
The dredging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to dredging market.
Some of the major players operating in the dredging market are
- Royal Boskalis Westminster N.V. (Netherlands)
- DEME. (Belgium)
- Jan De Nul (Belgium)
- Penta-Ocean Construction Co. Ltd. (Japan)
- TOA Corporation. (Japan)
- CHINA HARBOUR ENGINEERING CO. LTD (China)
- NMDC Limited. (India)
- HYUNDAI E&C. (South Korea)
- Van Oord (Netherlands)
- Weeks Marine, Inc. (U.S.)
- NMDC. (UAE)
- Dock Labs AG (U.S.)
- VOSTA LMG B.V. (Germany)
- Royal IHC (Netherlands)
- CASHMAN DREDGING, INC. (U.S.)
- Manson Construction Co. (U.S.)
- TAMS Group Pty Ltd (Australia)
- JT Cleary, Inc. (U.S.)
- Callan Marine Ltd (U.S.)
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