Dredging Market Summary
According to the new market research report “Global Dredging Market Report 2023-2029”, published by QYResearch, the global Dredging market size is projected to reach USD 32.18 billion by 2029, at a CAGR of 5.0% during the forecast period.
Dredging is the maritime transportation of natural materials from one part of the water environment to another by specialised dredging vessels. It involves collecting and bringing up, fishing up or clearing away or out material and / or any object from the bed of a river, sea, etc.; transporting it to the relocation site and unloading the material or object. The purpose for dredging can be maintenance of the depth or the deepening of navigation accesses or channels, it can also be land reclamation, coastal protection, seabed stabilisation for the offshore energy installations or the removal of contaminated sediments. In fact, in a usual dredging cycle, self-propelled trailing suction hopper dredgers, barges and other ships spend the majority of their time sailing back and forth between extraction sites and placement sites, transporting materials between the port and the borrow site; sailing between borrow sites; and sailing from sites where material has been extracted to unloading or placement sites.
According to QYResearch Top Players Research Center, the global key manufacturers of Dredging include China Communications Construction Company (CCCC), Boskalis, Jan De Nul Group, DEME Group, Van Oord, NMDC Group, Penta - Ocean Construction Co, Great Lakes Dredge & Dock, Inai Kiara, Hyundai Engineering and Construction Co, etc. In 2022, the global top five players had a share approximately 60.0% in terms of revenue.
According to QYResearch Top Players Research Center, the global key manufacturers of Dredging include China Communications Construction Company (CCCC), Boskalis, Jan De Nul Group, DEME Group, Van Oord, NMDC Group, Penta - Ocean Construction Co, Great Lakes Dredge & Dock, Inai Kiara, Hyundai Engineering and Construction Co, etc. In 2022, the global top 10 players had a share approximately 72.0% in terms of revenue.
In terms of product type, currently Capital Dredging is the largest segment, hold a share of 36.7%.
In terms of product application, currently Water Transportation is the largest segment, hold a share of 58.5%.
Market Drivers:
D1: Rising sea levels due to climate change increase the frequency and severity of flooding events in coastal areas. Dredging helps mitigate flood risks by improving water drainage and allowing water to flow more freely.
D2: Increasing population and rapid urbanization lead to increased demand for land reclamation projects, which require dredging services to create new land parcels from previously submerged areas.
D3: Dredging is often used to remove contaminated sediments from water bodies and restore the natural environment, resulting in improvements in water quality and increased biodiversity.
Restraint:
Dredging involves many different skills. Although essentially a civil engineering activity, the work requires knowledge of mechanical and electrical engineering, electronics, naval architecture, the marine environment and many other disciplines. Above all it is a practical subject. Many of the activities are computerised and highly automated, but there is still great reliance on the experience of those involved in both the planning and the execution of the different types of projects.
The operation of dredging involves four distinct processes. The in-situ material must first be disturbed and loosened from its natural state. It then has to be moved from that position to the water surface. These two phases are generally considered to be the extraction operation. Following on are the equally important transport and relocation phases which complete the dredging cycle. Transport may take place in a barge or hopper, or as a suspension in pipeline flow. The cost of transport may be a high proportion of the overall dredging cost, especially if the relocation site is at some considerable distance from the dredging site.
Dredging is recognised as having the potential for major environmental impact. Whether in the extraction operation or in the relocation stage, care must be taken to minimise disturbance to marine life. Also, the dredged material should not be regarded simply as waste. Consideration has to be given to the potential for some form of beneficial use of the material. With increasing environmental awareness and tightening legislative control, finding a suitable site to relocate the dredged material can be a major constraint on the implementation of a dredging project.
Opportunity:
Rapid urbanization and industrialization have led to a surge in demand for dredging services to facilitate port expansion, land reclamation, and coastal defense projects.
The incorporation of advanced equipment, automation, and data analytics is enabling the industry to optimize operations, reduce costs, and improve project outcomes.
Local and international regulatory standards related to environmental protection and worker safety are driving the adoption of best practices in the industry.
Collaborative efforts between public and private entities are becoming more common, as they can help distribute risks, mobilize resources, and facilitate large-scale investments in dredging services.
About The Authors
Wangzhuang - Lead Author
Email: wangzhuang@qyresearch.com
John is a technology & market senior analyst specializing in semiconductor devices, materials, and equipment. Wang has 3 years’ experience in semiconductor and focuses on Chemicals, consumer goods, food and beverages, machinery and equipment, software and business services, etc. He is engaged in the development of technology and market reports and is also involved in custom projects.
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.