U.S. Dredging Services Market, By Products (Capital Dredging, Remediation Dredging, Maintenance Dredging, Reclamation Dredging, Beach Nourishment) and Geography (NA, EU, APAC, and RoW) â€“ Analysis, Share, Trends, Size, & Forecast From 2014 â€“ 2025
17 Jul 2021
FMCG & Food
Impact Analysis on the Growth of Market
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The Research Report is Updated with 2021 Base Year, 2022 Estimated year and Forecast till 2031 with Market Insights.
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The U.S. dredging services market was valued at USD 2,160 million by 2017, growing with 1.31% CAGR during the forecast period, 2018-2025
Dredging is the removal of debris and sediments from the bottom of rivers, harbors, and other water containing locations. Dredging is vital to economic and social development, in particular to the construction and maritime infrastructure upon which worldwide economic prosperity and environmental well-being depends. Growing demand from harbour and port operations coupled with favourable government funding for transportation support the industry growth. Harbor and port accounted for the largest downstream marketplace as dredging services are essential to maintaining efficient and safe navigation channels. There is currently increasing demand for dredging services in most of the country’s ports. As per the U.S. federal agency, “US Army Corps of Engineers”, approximately one-third of commercial vessels at the U.S. ports are constrained due to inadequate channel depths.
In addition, growing acceptance of dredging as a means of environmental preservation and restoration will further stimulate the market demand. However, funds allocated to dredging services in the country have been insufficient to meet demand which will slow down the industry growth to some extent. In addition, high start-up costs of dredging equipment and vessels are a significant barrier to entry for new players.
In terms of products, the market is categorized as;
Of the different products, capital dredging accounted for the highest revenue share. Capital dredging services are provided to create a new harbor, berth or waterway, or to expand existing waterways to allow larger ships to access them. This segment also covers trench digging for tunnels, cables, construction of breakwaters, canals and other marine locations.
In terms of application, the market is categorized as;
Private projects account for a very small portion of industry revenue. Such projects include dredging ponds and lakes on private land and work along riverbanks. Public infrastructure and public land segment is expected to grow with promising growth rate over the forecast period.
Key Vendors Takeaway
SOLitude Lake Management
Great Lakes Dredge and Dock Company
Eco Waterway Services
Manson Construction Company
AE Commercial Diving Services
The industry is highly fragmented, with the presence of large number of small scale companies. Smaller dredging operations tend to service inland areas and focus on rivers and lakes, as opposed to coastal waterways. Key players in the industry have invested in larger, more fuel-efficient dredges to improve operational efficiencies and reduce operational costs.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCTS
MARKET, BY APPLICATION
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook