The market value of the Dredging market was valued at 10.03 billion US dollars in the year 2020, which is expected to increase the growth by 12.60 billion US dollars by the end of 2026 with a compound annual growth rate of 2.62% during the forecast period of 2021 to 2026.
Increasing demand for oil and gas and an exploration of such energy resources are made in remote areas is one of the major driving factors that promote the growth of the Dredging market.
Growing population places pressures on countries with limited space to urbanize, and the ability to expand their buildable land area, which can alleviate this problem, propels the growth of revenue of the Dredging market.
The rapid growth of population and technological advancements by major key players, increase in global trade which carried out through the sea and also the rise in transportation of goods through the sea using the large container vessels and ships are some of the growth-supporting factors of the market of Dredging revenue rate during the outlook period.
Another major growth driving factor of the Dredging market was the increased investments by the major key players of the dredging market for R & D activities and also for the new technological advancements.
These applications require a high investment that is one of the restraints that hinder the Dredging Market's growth.
Stringent government regulations are added to impede the demand of the market.
Recent Market Developments
Major Challenges in the Marketplace
High capital investment is needed for the dredging and also for the maintenance as well the companies need to spend a huge amount of money which acts as a huge challenge for the Dredging market.
The Dredging market is segmented on the basis of type, on the basis of end-user, and on the basis of geography.
The suction vessel is again bifurcated into two type’s namely trailing suction and cutter suction. Among these segments, the suction vessel segment holds the major share of the market as it operates by sucking through a long tube. This suction vessel segment is expected to hold dominance during the forecast period. However, the Airlift segment is also expected to increase the market value in the upcoming years to come.
The oil & gas segment holds the major share of the market among the other segments and is expected to hold dominance during the forecast period.
The Asia Pacific region holds the major share of the market due to the factors such as rising population across the developed economies such as India and China, coupled with an increased need for oil exploration and telecommunication purposes from different sources beneath the water. Furthermore, the increasing of major key players in the region is also one of the major driving factors that propel the growth of the market of Dredging in the Asia Pacific region.
North America region holds the second-largest share of the Dredging market due to the factors such as an increase in oil & gas activities in offshore regions, especially in some of the emerging economies such as the United States and Canada.
Europe region is expected to increase the market value of Dredging owing to the rapid increase in marine activities.
The Latin America region also has a great revenue rate in the upcoming years due to the increase of oil and gas in some of the countries of the region.
The Middle East and Africa region is also expected to increase the demand for the dredging market attributed to the presence of major key players in the region.
Key Market Players
Some of the key market players of the Dredging market are:
The dredging market has been affected very badly due to the COVID 19 pandemic since the government authorities have announced strict lockdown regulations, which made a break to the entire supply chain of almost all the industries, which has impacted the production of industries, including the dredging companies. The Dredging market has also been affected very badly due to the COVID pandemic, but as per the analysis, the market of Dredging in real estate is expected to increase more post-COVID pandemic.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Dredging Market, By Type
6.1.2 Jet lift
6.1.6 Market Size Estimations & Forecasts (2021-2026)
6.1.7 Y-o-Y Growth Rate Analysis
6.1.8 Market Attractiveness Index
6.2 Dredging Market, By End User
6.2.1 Oil & Gas
6.2.4 Market Size Estimations & Forecasts (2021-2026)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2021 - 2026)
7.2.1 By Country
7.2.2 By Type
7.2.3 By End User
7.3.1 By Country
220.127.116.11 Rest of Europe
7.3.2 By Type
7.3.3 By End User
7.4 Asia Pacific
7.4.1 By Country
18.104.22.168 South Korea
22.214.171.124 South East Asia
126.96.36.199 Australia & NZ
188.8.131.52 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By End User
7.5 Latin America
7.5.1 By Country
184.108.40.206 Rest of Latin America
7.5.2 By Type
7.5.3 By End User
7.6 Middle East and Africa
7.6.1 By Country
220.127.116.11 Middle East
7.6.2 By Type
7.6.3 By End User
8. Key Player Analysis
8.1 Royal Boskalis Westminster N.V.,
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Jan De Nul N.V.,
8.3 Dredging Environmental and Marine Engineering N.V.,
8.4 Great Lakes Dredge and Dock Co.,
8.5 Van Oord N.V.,
8.6 Coastal Dredging Company, Inc.,
8.7 Weeks Marine, Inc.
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures