The global dredging market is predicted to be worth USD 15.7 billion in 2022 and is expected to develop at a CAGR of 3.3% from 2022 to 2032.
Dredging income is expected to grow at a stable CAGR of 3.3% to reach USD 21.4 billion by 2032. Demand for energy infrastructure in application is expected to grow at a CAGR of 4.5% between 2022 and 2032.
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|Market size value in 2021A||USD 15.2 Billion|
|Market value estimated in 2022E||USD 15.7 Billion|
|Market forecast value in 2032F||USD 21.4 Billion|
|Global Growth Rate (2022-2032)||CAGR 3.3%|
According to the dredging industry analysis, key players providing dredging include Royal Boskalis Westminster N.V, China Harbour Engineering Company Ltd, Van Oord NV, Dredging Environmental and Marine Engineering NV (DEME) Group, Jan De Nul N.V., Great Lakes Dredge & Dock Corporation, National Marine Dredging Co, Hyundai Engineering & Construction Co. Ltd, Penta-Ocean Construction Co. Ltd, and Toa Corporation.
The aforementioned players have a large customer base all around the world. The market’s front runners are tech behemoths with vast pockets who can invest heavily in development.
Furthermore, these businesses provide a variety of services that are tailored to each particular customer. Contracts and agreements, new product development, and collaborations are among the growth methods used by major firms to maintain their market position.
- In 2020, Dredging Environmental and Marine Engineering NV (DEME) Group has signed a major dredging and land reclamation contract for Abu Qir port in Egypt.
- In 2020, Jan De Nul Group had partnership with Dogger Bank Wind Farm to transport and install offshore wind.
- In 2020, Penta-Ocean Construction Co. Ltd announced to acquire the Singapore based company named as M&E Pte Ltd.
- In 2020, TOA Corporation has signed a contract with Bangladesh Economic Zones Authority (BEZA) for land development at Japanese Economic Zone.
Key Companies Profiled
- Royal Boskalis Westminster N.V
- Dredging, Environmental and Marine Engineering NV (DEME)
- Penta-Ocean Construction Co., Ltd
- TOA Corporation
- Hyundai Engineering & Construction Co., Ltd.
- China Harbour Engineering Company Limited
- Great Lakes Dredge & Dock Corporation
- National Marine Dredging Co.
Key Takeaways from Dredging Market Report
- The use of dredging in trade maintenance is predicted to boost sales, with a share of roughly 30% expected in 2031.
- The government sector will maintain its dominance as a dredging customer, with a share of more than 40% by the end of the projected period.
- China is likely to develop as a lucrative dredging destination and the core of the East Asia area. Overall, Asia Pacific is estimated to account for over half of the worldwide market in 2031.
- The United States, Canada, Germany, the United Kingdom, Italy, and Japan will all be attractive regional dredging markets.
- Following initial difficulties caused by the COVID-19 epidemic, global demand for dredging is increasing up, and the industry is expected to grow at a CAGR of more than 3% through 2031.