Global Dredging Market Report 2023: Forecast Market Size, Top Market Segments, And Fastest Growing Regions
25 May, 2023
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%.
Global Dredging Market Key Driver
Increased seaborne trade is expected to propel the dredging market forward in the coming years. The transportation of goods via navigable waterways and ports is referred to as seaborne trade. Dredging benefits seaborne trade by expanding existing ports, preserving existing waterways, and constructing new ports and waterways. For instance, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization, in 2020, Asian ports, including developed and developing regions, loaded approximately 4.4 billion tonnes of goods, accounting for more than 41.3% of total goods loaded in all other ports worldwide. Moreover, according to the report, in 2020, Asian ports received approximately 7.0 billion tonnes, or 65.5% of the total goods discharged worldwide. Therefore, increasing water-borne trade is driving the growth of the dredging market.
Get a sample of the global dredging market reportGlobal Dredging Market Segments
The global 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
4) By Geography: The regions covered in the dredging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global dredging market.
Major Dredging Industry Players
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, National Marine Dredging Company, Hyundai Engineering and Construction Co. Ltd., Penta-Ocean Construction Co. Ltd., TOA Corporation, Weeks Marine, Harbour Engineering Company Ltd., Cottrell Contracting Corporation, Amrut Dredging and Shipping Ltd., Cashman Dredging Inc., Callan Marine Ltd., and China Communications Construction Company Limited.
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Dredging Market Overview
The removal of debris and sediment from the bottoms of rivers, shallow seas, harbors, lakes, and other bodies of water is known as dredging. This debris and sediment are collected and disposed of in various locations and must be removed on a regular basis by dredging.
Dredging Global Market Report 2023 provides data on the global dredging market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The dredging market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.