Dredging, as a process, is used to remove the deposits percolated underwater for the purpose of clearing the water pathway for ships to pass; to create adequate space to construct important bridges, dykes and dams and to weed out silt, intoxicants and pollutants from the bottom of the water. Dredging is an excavation activity usually carried out underwater, in harbors, shallow seas, and freshwater areas with the purpose of gathering up bottom sediments to deepen or widen the sea bottom or sea channel.
The global trade carried out through the sea is also rising and more goods are being shipped through the sea using large container vessels and ships. Due to this reason, port infrastructure needs to be expanded and for this purpose dredging is required to keep the ports in working condition.According to UNCTAD, global seaborne trade volumes surpassed 10 billion tons in 2015, with shipments expanding by over 2%. The outlook on global seaborne trade remains overly positive, with seaborne trade volume growth projection of over 3% for next five year. Furthermore, upcoming projects, such as One Belt and One Road Initiative (OBOR) likely to provide growth opportunities to dredging industry
Market Geographical Analysis :
The dredging market in Asia Pacific is expanding due to the rise in population in the region. This has increased the need for oil exploration and telecommunication purposes from different sources beneath the water. It has also boosted the demand for subsea activities. Hotbeds regions of subsea activities in Asia Pacific are primarily located in Vietnam, Australia, China, Malaysia, and Indonesia. As per the Analysis by Mindaspire Market Research the dredging market in North America has been expanding due to the increase in oil & gas activities in offshore regions. Demand for dredging market has been rising in countries such as France, Germany, and the U.K. in Europe owing to the rapid increase in marine activities. Demand for dredging is expected to increase in Latin America and Middle East & Africa.
One Of the Most Prominent Dredging Players dredging are from Belgium and Netherlands. DEME and Jan De Nul from Belgium, and Boskalis and Van Oord from the Netherlands were around during the 1980s when the global dredging market was highly consolidated, with the presence of over 20 dredging companies in Belgium and Netherlands alone.
Key Player Analysis :
Top Key Players in global dredging market are Royal Boskalis Westminister, China Harbour Engineering Company, Van Oord, and Deme Group, Jan De Nul, Great Lakes Dredge and Dock Corp, Weeks Marine Inc., Hyundai Engineering and Construction Co. Ltd.
Benifits of Report :
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period. Furthermore, the report provides details about the major challenges impacting the market growth.