Dredging market is projected to increase at a CAGR of over 3.3% during 2022 – 2032

The global dredging market is estimated at USD 15.7 Billion in 2022 and is forecast to reach USD 21.4 Billion by 2032, growing with a CAGR of 3.3% from 2022 to 2032.

The revenue generation of dredging is likely to accelerate at a steady CAGR of 3.3% to top USD 21.4 Billion by 2032. The demand for energy infrastructure in application is likely to increase at a CAGR of 4.5% over the forecast period of 2022 to 2032.

The urge of countries to control the marine paths has given birth to terminologies such as political ecology where many regional manufacturers can gain opportunities in forecast years. Global initiatives such as marine trade and geopolitical happenings such as the “String of pearls” and other sea voyage initiatives are set to increase manufacturers’ action in the Asian dredging market in the forecast period.

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Key findings of the Dredging market study:

·         Regional breakdown of the Dredging market based on predefined taxonomy.

·         Innovative manufacturing processes implemented by Dredging vendors in detail.

·         Region-wise and country-wise fragmentation of the Dredging market to grasp the revenue, and growth outlook in these areas.

·         Changing preferences among consumers across various regions and countries.

·         Factors (Positive and Negative) impacting the growth of the global Dredging market.

Competitive Landscape:

According to the dredging industry analysis, 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 are identified as key players providing dredging.

The aforementioned players have robust network of customer around the globe. The front runners in the market are tech giants with deep pockets which allows them to participate greatly in development.

Moreover, these companies also deal with diversified services which are custom-made as per individual customer. The growth strategies implemented by prominent players are contracts & agreements, new product developments and collaborations to resist their market position.

Some of the key developments in the market are:

  • 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.

Similarly, recent developments by top providers of dredging have been tracked by the team at Fact.MR, which are available in the detailed report.

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Queries addressed in the Dredging market report:

·         Why are the Dredging market players targeting region for increased product sales?

·         What patented technologies are the players utilizing in the global Dredging market?

·         Which regions are displaying the fastest growth in the Dredging market?

·         What are the underlying micro- macroeconomic factors affecting the global Dredging market?

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