Rise in Global Marine Trade and Port Maintenance Infrastructure Builds Global Dredging Market

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Posted May 15, 2019

Dredging is a common excavation operation that is primarily carried out in underwater areas such as sea shallows, harbors, and freshwater channels, with the aim of extracting sediments form the bottom or widening marine vessel routes. It is a highly popular technique that finds use in the application of maintaining the navigation capabilities of water ways and elimination of sludge in these areas.

In addition, the dredging process is also finding increased use in recent times to combat the threat of coastal erosion, by replenishing sand resources on public beaches. The recent increase in international trade through marine routes and the increasing size of marine vessels such as freight ships are some of the most essential factors that are expected to sustain the growth of the dredging market for the foreseeable future.

Some of the other factors that drive developments in the dredging market may include:

  1. The countries in the Asia Pacific region are expected to witness a faster rate of expansion in the dredging market, which can be largely be attributed to the growing population in the region, which generates demand for telecommunication and oil exploration services in the region. Offshore oil and gas activity around North America is propelling the dredging market in the region.
  2. Increasing expenditure in port infrastructure improvements and maintenance of this infrastructure is expected to create a demand for dredging services. This can be attributed to the natural process of silting in port and harbor areas that make operations difficult without dredging.
  3. Reductions in manufacturing costs and advancements in technologies are anticipated to boost the productivity rates of dredging activities. On the other hand, the process of dredging is highly capital intensive, is one of the major factors that is projected to hinder the growth of the market for the foreseeable future.
  4. Another restraining factor that impacts the dredging market is the opposition from public and private bodies owing to concerns about the ecological damage done to the surrounding area through the dredging process. Research into new eco-friendly technologies is expected to assist in circumvent this obstacle in the coming years.

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Source: insidercarinfo.com