Posted on May 18, 2021
Dredging market research study in brief
The business intelligence study for the Dredging market provides an extensive synopsis of essential aspects involving the product classification, important definitions, and other industry-specific parameters. The report also covers the key factors associated with the current events such as alliances, mergers & acquisitions, and new product launches.
For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=922
Despite witnessing a downfall in 2020 due to the onset of the COVID-19 pandemic, the dredging market is gradually recovering, and is projected to exhibit steady growth over the coming years. For example, the United States passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which unlocked the Harbor Maintenance Trust Fund; this will be invested in the dredging of ports in the near future.
Likewise, growing demand from governments around the world for dredging equipment and services is set to give impetus to market growth through 2031. According to Fact.MR, the global dredging market is forecast to be valued at US$ 21 Bn in 2031. Rise in demand from the oil & gas industry too is expected to propel demand for dredging as time goes by.
For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=922
The latest study by Fact.MR offers a holistic overview of the global dredging market, along with its growth, scope, restraints, and potential over the coming years.
Key Takeaways from Dredging Market Report
- The application of dredging in trade maintenance is expected to fuel sales, with its share projected to be around 30% in 2031.
- The government sector will maintain its lead as a dominating customer for dredging, holding a share of over 40% by the end of the forecast period.
- China is expected to emerge as a lucrative destination for dredging, and will be the epicenter of the East Asia region. On the whole, Asia Pacific is expected to hold close to 50% of the global market share in 2031.
For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/922/S
- The United States, Canada, Germany, the United Kingdom, Italy, and Japan will also be lucrative regional markets with high demand for dredging.
- After initial setbacks due to the COVID-19 pandemic, demand for dredging is picking pace across the world, and the market is set to progress at a steady CAGR of over 3% through 2031.
“With gradual rise in trade, trade maintenance, and other activities from the latter half of 2020, and increase in requirements from the oil & gas industry, the value of the global dredging market is set to increase steadily over the coming years. According to the International Energy Agency, global oil demand is predicted to rise by a total of 5.7 mb/d, with China and India accounting for around half of this growth,” says a Fact.MR analyst.
For comprehensive insights on this market adoption, ask an analyst here – https://www.factmr.com/connectus/sample?flag=AE&rep_id=922
Increase in Trade Maintenance Activities Fuelling Growth
With the world getting over the impact of COVID-19, there has been substantial rise in trade and trade maintenance activities across the globe, which is working in favor of dredging equipment manufacturers. According to the World Trade Organization (WTO), trade and trade maintenance activities are set to grow by 7.2% in 2021. This rate is higher than the 9.2% decline in 2020, and definitely a sign of further growth opportunities for market players.
According to the United Nations Conference on Trade and Development, led by an expected rebound in large emerging economies, global trade activities will grow further, paving new paths for dredging equipment suppliers and service providers over the coming years.
Explore Fact.MR’s Comprehensive Coverage on Industrial Goods Landscape
Modular Cleanroom Solutions Market, Forecast, Trend, Analysis & Competition Tracking- Global Market Insights 2020 to 2030: https://www.factmr.com/report/modular-cleanroom-solutions-market
Vacuum Loaders Market, Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2020 to 2030: https://www.factmr.com/report/vacuum-loaders-market
Flexitanks Market, Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2021 to 2031: https://www.factmr.com/report/flexitanks-market
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com
