Posted on July 26, 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s Dredging Global Market Report 2023 identifies increasing sea-borne trade as the major driver for the dredging market’s growth in the forecast period. Seaborne trade refers to the transportation of goods that takes place through accessible water routes and ports. Dredging helps sea-borne trade by expanding existing ports, maintaining existing waterways, and building new ports and waterways.
The global dredging market size is expected to grow from $12.11 billion in 2022 to $12.58 billion in 2023 at a compound annual growth rate (CAGR) of 3.9 %. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The dredging market is expected to grow to $14.39 billion in 2027 at a CAGR of 3.4%.
Major competitors in the dredging market are Royal Boskalis Westminster N.V., Van Oord NV, Dredging Environmental and Marine Engineering N.V., Jan De Nul N.V., Great Lakes Dredge & Dock Corporation.
A key trend in the dredging market includes product innovations. Major companies operating in the dredging sector are focused on developing new innovative products to strengthen their position in the market. For instance, in May 2022, Damen Shipyards, a subsidiary of Netherlands-based Damen Holdings, introduced the new Trailing Suction Hopper Dredger (TSHD) series that ranges from 800 m³ to 5,000 m³ which is efficient in operation, practical in maintenance, and customizable for each specific dredging operation. They are unique in that they use their own propulsion during the excavation of deposits from a borrow area and then can cart the material to the placement area.
The dredging market is segmented –
1) By Type: Dipper, Water Injection, Pneumatic, Bed Leveler, Other Types
2) By Application: Trade Activity, Trade Maintenance, Energy Infrastructure, Urban Development, Coastal Protection, Leisure
3) By End User: Oil And Gas Companies, Mining Companies, Renewables, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the dredging market.
The Business Research Company’s “Global Dredging Market Report 2023” provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Dredging Market Include:
1. Executive Summary
2. Dredging Market Characteristics
3. Dredging Market Trends And Strategies
4. Dredging Market – Macro Economic Scenario
5. Dredging Market Size And Growth
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26. Africa Dredging Market
27. Dredging Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Dredging Market
29. Dredging Market Future Outlook and Potential Analysis
30. Appendix
