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Navigating Growth: Dredging Market Size, Share, Trends, and Outlook 2024-2033

Posted on January 30, 2024

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Dredging Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The dredging market size has grown steadily in recent years. It will grow from $12.49 billion in 2023 to $12.96 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to early port development, coastal protection initiatives, canal construction, mining and material extraction, river and waterway maintenance..

The dredging market size is expected to see steady growth in the next few years. It will grow to $15.18 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to government infrastructure spending, tourism and recreation investments, remediation and waste management, trade route expansion, global infrastructure projects.. Major trends in the forecast period include port expansion and maintenance, coastal protection and climate change, infrastructure development, river restoration and flood management..

Key Market Players:

Major companies operating in the dredging market report are Royal Boskalis Westminster NV, Van Oord NV, Dredging Environmental and Marine Engineering NV, Jan De Nul NV, Great Lakes Dredge & Dock Corporation, National Marine Dredging Company, Hyundai Engineering and Construction Co. Ltd., Penta-Ocean Construction Co. Ltd., TOA Corporation, Weeks Marine Inc., Harbour Engineering Company Ltd., Cottrell Contracting Corporation, Amrut Dredging and Shipping Ltd., Cashman Dredging Inc., Callan Marine Ltd., China Communications Construction Company Limited, China Harbour Engineering Company Ltd., Manson Construction Co., Orion Marine Group, CCCC Dredging Company Ltd., Gulf Cobla LLC, J.F. Brennan Company Inc., Dredging Corporation of India Limited, Boskalis Westminster LLC, Great Lakes Dock and Materials LLC, Royal IHC, Dredging International NV, Dredging and Maritime Management SA, Heinrich Hirdes GmbH, International Seaport Dredging Private Ltd., Irish Dredging Company Ltd., Middle East Dredging Company, Mijnster Zand- en Grinthandel BV, Mordraga LLC, Royal Smals BV

Market Drivers:

Increasing sea-borne trade is expected to propel the growth of the dredging market going forward. 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. For instance, in October 2022, according to the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental body, Asian ports received approximately 7.1 billion tons in 2021, which is equal to 64% of all commodities discharged globally. Therefore, increasing water-borne trade is driving the growth of the dredging market.

The dredging market covered in this report 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

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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