PUBLISHER: Global Insight Services | PRODUCT CODE: 1598610
PUBLISHER: Global Insight Services | PRODUCT CODE: 1598610
The global dredging market is anticipated to expand from $15.5 billion in 2023 to $24.8 billion by 2033, reflecting a CAGR of 4.8% over the forecast period.
The dredging market encompasses the industry engaged in the excavation and removal of sediments and debris from water bodies to maintain or deepen waterways, ports, and harbors. It includes equipment, services, and technologies aimed at facilitating navigation, preventing flooding, and land reclamation, thereby supporting infrastructure development, environmental restoration, and coastal protection efforts globally.
The dredging market is witnessing robust growth, primarily driven by the expansion of global trade and infrastructure development. The capital dredging segment leads the market, fueled by the need for deepening and widening harbors to accommodate larger vessels. Maintenance dredging emerges as the second-highest performing sub-segment, essential for keeping existing waterways navigable and preventing sedimentation. Regionally, Asia-Pacific dominates the market, propelled by rapid industrialization and extensive port development projects in countries like China and India. Europe follows as the second-largest market, with significant investments in coastal protection and land reclamation projects, particularly in the Netherlands and Belgium. The increasing focus on environmental sustainability and technological advancements in dredging equipment further bolster market growth. These developments offer lucrative opportunities for stakeholders aiming to capitalize on the burgeoning demand for efficient and sustainable dredging solutions.
Key Companies
Jan De Nul Group, Van Oord, Boskalis Westminster, DEME Group, Great Lakes Dredge and Dock Company, China Communications Construction Company, Royal IHC, Penta- Ocean Construction, Toa Corporation, National Marine Dredging Company, Weeks Marine, Dredging International, Hyundai Engineering and Construction, J. F. Brennan Company, Callan Marine, CFE Dredging, Cashman Dredging and Marine Contracting, Manson Construction Co, Orion Marine Group, Fugro
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