What Transformation Has the Dredging Market Undergone?
The dredging market has seen considerable growth due to a variety of factors.
• In the recent years, there has been a steady expansion in the size of the dredging market. It is projected to surge from $12.84 billion in 2024 to $13.28 billion in 2025, recording a compound annual growth rate (CAGR) of 3.4%. Factors such as preemptive port development, measures taken for coastal protection, canal building, mining, and extraction of materials, alongside river and waterway upkeep, accounted for this growth during the historical period.
What Is The Forecast For The Dredging Market Size Evolve over the Forecast Period?
The Dredging market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the dredging market is anticipated to experience consistent growth in the coming years. It is projected to augment to $15.89 billion in 2029, with a compound annual growth rate (CAGR) of 4.6%.
This growth during the forecast period can be accredited to government expenditure on infrastructure, investments for tourism and recreation, remediation and waste management, expansion of trade routes, and worldwide infrastructure projects. Notable trends during the forecast period encompass port enlargement and upkeep, coastal safeguarding and climate change impacts, infrastructure progression, along with river renovation and flood control.
What Are The Essential Drivers Behind The Growth Of The Dredging Market?
The expansion of the dredging market is expected to be driven by the growing sea-borne trade. This type of trade involves transmitting goods through accessible water routes and ports. Dredging facilitates this by enlarging the existing ports, maintaining the current waterways, and creating new ports and waterways. For example, as per a report released by the Switzerland-based intergovernmental body, the United Nations Conference on Trade and Development in June 2023, it is predicted that maritime trade will increase by 2.4% in 2023. This upward trend is anticipated to persist between 2024 to 2028, with more than a 2% growth rate per year. Consequently, the escalating waterborne commerce is fueling the growth of the dredging market.
How Is The Global Dredging Market Divided Into Key Segments?
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
Subsegments:
1) By Dipper: Clamshell Dredgers, Bucket Dredgers
2) By Water Injection: Water Injection Dredgers, Hydraulic Dredgers
3) By Pneumatic: Suction Dredgers, Airlift Dredgers
4) By Bed Leveler: Leveling Dredgers, Grading Dredgers
5) By Other Types: Cutter Suction Dredgers, Auger Dredgers, Trailing Suction Hopper Dredgers
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What Trends Are Reshaping The Future Of The Dredging Market?
In the dredging market, the development of product innovations is a prevalent trend. Firms heavily involved in the industry are keen on rolling out fresh and innovative items to fortify their market standing. Take for example, in May 2022, Damen Shipyards, affiliated with the Netherlands-based Damen Holdings, launched a new series of the Trailing Suction Hopper Dredger (TSHD). The TSHD series, ranging from 800 m³ to 5,000 m³, are operationally efficient, easy to maintain, and customizable for each distinct dredging task. They demonstrate their uniqueness through utilizing their own propulsion when excavating deposits from a borrow area, and are also capable of transporting the material to the designated area.
Who Are the Key Players In The Dredging Market?
Major companies operating in the dredging market include:
• 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
• 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
What Are The Regional Insights Into The Dredging Market?
Asia-Pacific was the largest region in the dredging market share in 2024. The regions covered in the dredging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
