Dredging is a method in which debris and sediments are excavated from the bottom of sea, rivers, lakes, harbors, and other water bodies. Dredging is done to maintain or increase the depth of navigation channels, berthing areas or anchorages to ensure the safe passage of ships and boats so that boats and ships require a certain amount of water in order to float and not touch bottom. Global dredging market is anticipated to grow in the forecasted period, in 2018 market size of the dredging was XX million and in 2027 is expected to reach at XX million with growing CAGR of XX%.
In the globe, freight transportation is primly achieved by sea and rivers; goods are usually shipped via sea or revers using large ships, container and vessels. To manage these shipments port infrastructure needs to be well maintained and expanded for this purpose dredging is required to keep the ports, harbors and docks in working condition. Due to these factor dredging market is growing. Also, regional governments are employing dredging throughout their shores. As operative dredging service directly improve the economic and social development of a region by providing deeper channels to protect the submerged of ships.
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Dredging market is very competitive, the leading players the market are Hyundai Engineering, China Harbour Engineering Company, Van Oord, and Deme Group, Jan De Nul, Construction Co. Ltd, Weeks Marine Inc., Royal Boskalis Westminister and Great Lakes Dredge and Dock Corp
The dredging market is segmented on the basis of application, customer type and regions. On the basis of applications, the dredging market can be segmented into trade maintenance, trade activity, energy infrastructure, coastal protection and urban development. It is expected that trade activity has dominated the market as most of the trade happens in the port area in the coming years it is expected that costal protection will dominate the market due to rising concerns of sea-level water. Moreover, world’s population in the coastal areas is increasing so there is need that this land is protected and domesticated. Further, on the basis of customer type the market is segmented into government, mining companies, oil and g companies, renewables and others.
On the basis of region, the market is segmented into North America, Europe, APAC, Latin America and Middle East & Africa. It is expected that APAC will dominate the market in the coming years.
Market segmented on the basis of application:
- Trade Activity
• Trade Maintenance
• Energy Infrastructure
• Urban Development
• Coastal ProtectionMarket segmented on the basis of customer type:
• Oil and gas companies
• Mining companies
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Market segmented on the basis of region:
- North America
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Rest of Latin America
• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• Rest of MEA
This post was originally published on Space Market Research