Global Dredging market research 2024, Forecast To 2033
4 Mar, 2024
The dredging market has witnessed steady growth, rising from$12.49 billion in 2023 to$12.96 billion in 2024, with a compound annual growth rate (CAGR) of 3.8%. Historical drivers of growth include early port development, coastal protection initiatives, canal construction, mining, material extraction, and river maintenance. Looking ahead, the market is expected to experience continued steady growth, reaching$15.18 billion by 2028, driven by government infrastructure spending, investments in tourism and recreation, remediation and waste management, trade route expansion, and global infrastructure projects. Major trends in the forecast period include port expansion, coastal protection, infrastructure development, and river restoration and flood management.
Global Dredging Market Key Driver
The increase in sea-borne trade is anticipated to propel the growth of the dredging market in the forthcoming years. Seaborne trade involves the transportation of goods through accessible water routes and ports, with dredging playing a crucial role in expanding, maintaining, and building ports and waterways. Notably, Asian ports received approximately 7.1 billion tons of commodities in 2021, representing 64% of all globally discharged commodities, as reported by the United Nations Conference on Trade and Development in October 2022. This upsurge in water-borne trade underpins the growth of the dredging market, with projected market sizes of $X in 2023, and expected growth in 2024 and 2028.
Get A Free Sample Of The Global Dredging Market ReportGlobal Dredging Market Segments
The global 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
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.
Asia-Pacific was the largest region in the dredging market share in 2023. The regions covered in the dredging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Dredging Industry Players
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
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Dredging Market Overview
Dredging is the removal of debris and sediment from the bottoms of rivers, shallow seas, harbors, lakes, and other bodies of water. This debris and sediment are collected and disposed of at different locations and must be periodically removed 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.