How will the growth outlook be for the dredging market?
The global dredging market is expected to witness moderate growth, primarily driven by tourism and marine sectors. Growth in seaborne trade, investments in greenfield and brownfield projects, as well as increasing public-private partnerships are anticipated to fuel the growth of the dredging market. Moreover, the increasing focus of several governments on land reclamation is expected to play a vital role in the growth of the dredging market.
Who are prominent consumers of dredging services?
Government bodies are identified to be the prominent customers of dredging services. Nearly one half of the overall market is accounted for by the government segment. Renewables and oil & gas companies are also projected to develop at a good pace in the global dredging market during the forecast period
Which application area holds potential growth opportunities for market players?
Trade maintenance segment accounts for a prominent share in the global dredging market, and is expected to continue its dominance throughout the forecast period; however, the energy infrastructure segment is creating new growth opportunities in the dredging market.
What is the degree of competition in the dredging market?
Given the technicalities and large capital investment needed to construct & operate modern dredging equipment, the international dredging industry has undergone consolidation in recent years. Though a majority of the market is led by European companies, there has been a steady consolidation of companies and organizations.
Which region will lead global sales for the dredging market?
East Asia remains at the frontline of the dredging market. The region is estimated to account for maximum share and witness relatively higher growth during the forecast period. With increasing demand from mining exploration and oil and gas companies, the Middle East and Latin America region is also expected to witness significant growth in the coming years.
Dredging Market Taxonomy
|Trade Activity||Government||North America|
|Trade Maintenance||O&G Companies||Latin America|
|Energy Infrastructure||Mining Companies||Europe|
|Urban Development||Renewables||East Asia|
|Coastal Protection||Others||South Asia & Oceania|
|Leisure||Others||Middle East & Africa|
Dredging Market – key Participants
- Jan De Nul
- DEME Group
- Van Oord
- Royal Boskalis Westminster
- China Harbour Engineering Company
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