Dredging Market Growing at 2.65% CAGR, Led by South Asia & Oceania | Maximize Market Research

Dredging Market Worth $USD 13.06 Billion by 2030 – Driven by Coastal Urban Population and Infrastructure Development and Deteriorating River Water Quality

The global Dredging Market is segmented into Component, Application, and Region. The global dredging market is segmented into Equipment (dredging equipment and dredge attachments and dredging support), aftermarket, and others; The global dredging market contributes to a total value of USD 10.88 billion in 2023 and USD 13.06 billion by 2030, expanding at a CAGR of 2.65% across the forecast period of 2023-2030. The main driver for this growth is population movement into coastal areas and consequent demand for reclamation and coastal protection.

Factors such as increased investments in electrification, the replacement of combustion engines, and the introduction of new types of machines are expected to boost the market.

As people move to the coasts, so too does what needs to be cultivated and protected, requiring the dredging of vast amounts of coastal land. Such operations are required to keep these waterways open for navigation, building new ports, and also for reducing erosion, and flooding along coastal areas. Moreover, increased coastal flooding due to the rise in sea levels has increased the need for dredging services. ​

Due to urbanization and industrialization, land and water resources have been polluted causing the need for environmental dredging to restore these areas. In addition, the increasing global competition for oil and gas exploration in deep offshore areas has added to dredging demands in the energy sector. Moreover, the new flourishing tourism sector promotes cleaning up beaches and coastal areas, furthering the development of the market. ​

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Segmentation Analysis

The dredging market is divided into application and region. ​

By Application:

Trade Activity: Dredging keeps ports and harbors clear and accessible for large vessels involved in international trade and commerce. ​

Energy infrastructure: Oil and gas extraction (especially offshore) requires dredging to install and maintain pipelines and platforms. ​

Urbanisation: Coastal dredging encourages land reclamation to promote urban territorial continuum, to provide land for infrastructure and housing in coastal cities. ​

Dredging activities provide greater protection for coastlines against erosion and flooding, which protects people in your coastal towns, and ensures that marine habitats are better protected. ​

Tourism: dredging plays an important role in maintaining and improving beaches and waterfront for the leisure tourism sector. ​

Regional Insights

Asia-Pacific — Owing to high urbanization and industrialization in nations like China and India, this region is one of the key holders of the dredging market. Market growth is primarily driven by the development of coastal and port expansion facilities. ​

North America: The market for dredging in North America is driven by the requirement for upkeep of antiquated infrastructure, environmental restoration schemes, and coastal shielding programs, especially in the USA. ​

Europe: Countries in Europe emphasize environmental sustainability and coastal defense measures and thus will only dredge if the dredging supports ecological balance and is an investment in local and regional risk reduction capacity to sea-level rise; ​

Middle East and Africa: Due to the construction of new harbors and the expansion of current ports in order to increase trade over water, as well as land reclamation projects in the United Arab Emirates, the dredging market is promoted. ​

South America: Infrastructure expansion and the improvement of navigable seas for trade is driving the rise of dredging services in this region. ​

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Competitive Landscape

Some of the key players are getting into the various strategic partnerships along with adopting up-to-date technologies and expansion strategies which is further making the global dredging market fragmented. Notable companies include:​

Royal Boskalis Westminster N.V.: Boskalis is a leading global dredging and marine expert offering a wide range of services for the construction and maintenance of ports and waterways, land reclamation and coastal defense. ​

Van Oord: Van Oord is an international contractor specializing in dredging, marine engineering and offshore projects (oil, gas and wind) and has a reputation for developing innovative solutions in land reclamation and coastal defence. ​

Jan De Nul Group– Dredging and marine construction services with a focus on port infrastructure, land reclamation, and offshore energy. ​

DEME Group — DEME's activities include dredging, land reclamation and services for the offshore energy market wind, oil, gas and tidal energy. ​

Great Lakes Dredge & Dock Corporation: Being the foremost provider of dredging services in the United States, the company helps to long-term development and maintaining the United States waterways and coastal defense ​

The companies are focused on strengthening their capabilities and expanding their global presence to cater for the rising demand for dredging activities in multiple industries. ​

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Conclusion

The global dredging market is likely to witness steady growth on the back of rising urbanization in coastal areas, infrastructure projects and environmental protection activities. With populations near the shorelines around the world continuing to grow and industrial services that require dredging growth, there should be an excellent demand for dredging in demand in the future on both commercial and Government contracts or agreements, creating gold standard opportunities for dredging companies.

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