Dredging Market

Dredging Market Outlook for 2024 to 2034

The global dredging market value is estimated to be USD 16,684.12 million in 2024 according to the updated industry analysis report. The overall market is predicted to grow at a moderate CAGR of 2.15% during the forecast period. The global dredging industry share is estimated to reach a value of nearly USD 20,638.92 million by 2034.

Report Attribute	Details
Dredging Market Size (2024)	USD 16,684.12 million
Market Anticipated Forecast Value (2034)	USD 20,638.92 million
Market Projected Growth Rate (2024 to 2034)	2.15% CAGR

Dredging Market Trends & Analysis

• Many maritime nations still are government-owned and operated dredging fleets. However, the commercial or privately-owned dredging companies are expanding fast these days. Dredging corporations are increasingly acting as the principal contractors for large-scale dredging projects and are in charge of engaging subcontractors to do particular tasks related to the overall construction.
• Innovations in dredging vessels and other machinery are required for a highly specialized business. Moreover, every harbor dredging project includes consideration of the environment, and pre-, adaptive, and post-monitoring have developed into industry norms.

Global Dredging Market Historical Analysis Vs Forecast Outlook

The global dredging market was valued at USD 15,246.87 million in 2019. The global demand for dredging activities increased at a rate of 1.84% between 2019 and 2023. The overall market value was about USD 16,138.94 million by 2023.

While trade activity slowed in 2020 and 2021, it picked up steam in 2022 and 2023, providing better opportunity for the adoption and advancement of dredging services. Demand for dredging services also remained a crucial part of all significant maritime infrastructure projects during this period.

Attributes	Details
Dredging Market Value (2019)	USD 15,246.87 million
Market Revenue (2023)	USD 16,138.94 million
Market Historical Growth Rate (CAGR 2019 to 2023)	1.84% CAGR

Prominent Factors Fuelling the Global Dredging Market Growth

The expanded demand for environmental dredging depends on technological advancements to address the growing pollution problems. Moreover, natural gas and hydrogen gas are marketed by dredging firms as suitable substitutes.

The dredging industry is expanding fast with advancements in equipment that increase productivity, and accuracy, and minimizes environmental effects. To increase productivity and efficiency, dredging services are also using equipment updates and dredger monitoring systems.

Country-wise Insights

The table below lists the regions or countries that are likely to present lucrative growth opportunities in the dredging sector.

Regional Market Comparison	CAGR (2024 to 2034)
United States	2%
Germany	3.8%
United Kingdom	1.4%
Japan	5.7%
China	5.1%

Automation is the Key to the Development of the USA Dredging Market

Demand in the United States dredging market is anticipated to increase at a CAGR of 2% over the forecast period.

• Many variables, including automation, the development of cutting-edge technology, the modernization of small and medium-sized contractors' fleets, and others.
• Chellie Pingree (D-Maine), the USA representative for Maine, had announced an additional USD 8,225,000 in infrastructure investment money for the USA Army Corps of Engineers to dredge and study the Scarborough River and the Josias River close to Perkins Cove in 2022.

Extensive Sea Channels and Trading Routes are driving the Demand in Germany

Adoption of dredging services in Germany is poised to increase at a rate of 3.8% per year through the projected years.

• Dredging service providers in Germany are enhancing the quality of their services to acquire a competitive edge as oil and gas production and consumption are on the rise.
• The demand for marine dredging is surging in Germany to lay cables and build foundations.

Renewable Energy Projects are Powering up the Dredging Sector in the United Kingdom

The dredging service providers in the United Kingdom are expected to witness 1.4% growth per year till 2034 on average.

• Dredging service providers in the United Kingdom are profiting from increased spending on various energy infrastructure projects, such as offshore wind farms.
• Coastal dredging has become necessary for ports in the United Kingdom to accommodate larger boats, maintain, and grow.

Trade Maintenance Creating Scope for China in the Port Dredging Market

The dredging industry of China is projected to expand at a rate of 5.1% during the forecast years.

• China is anticipated to control 25% of the East Asian dredging market owing to the highly developed oil and gas industry.
• With impending initiatives such as the One Belt One Road Initiative (OBOR) set to present growth prospects for dredging manufacturers, the forecast for the global seaborne market remains too optimistic.

Japan Dredging Companies are Supporting Infrastructure Projects in the Region

Demand for dredging services is likely to witness the most lucrative growth rate of 5.7% during the forecast years.

• The demand for dredging services is gradually increasing as more infrastructure projects, such as hydro, solar, and other renewable energy firms, emerge.
• Japan is likely to present better prospects for the producers of dredging equipment due to the country's expanding trade and trade maintenance operations.

Category-wise Insights

Government Organizations are the Leading Users of Dredging Services

Based on customer type, local and federal governments are anticipated to create 45.5% of the total demand in 2024.

Attributes	Details
Top Customer Type or Segment	Government
Total Market Share in 2024	45.5%

• Dredging makes it easier for local governments to reclaim land for urban growth and expansion of land-based economic activities.
• Central governments are also increasing dredging activities to provide safe and effective marine traffic due to the growing size of ships.

Application of Dredging for Trade Manteca Presents Lucrative Growth Opportunities

Based on application, the trade maintenance segment is poised to contribute for 30.6% of the global market share in 2024.

Attributes	Details
Top Application Type or Segment	Trade Maintenance
Total Market Share in 2024	30.6%

• Dredging has augmented the trade maintenance sector by improving water quality and helping shipping companies remove impurities, sediments, and pollutants.
• Trade maintenance dredging facilitates the construction of marinas, cruise terminals, and recreational areas which is expected to boost this segment further.

Competitive Landscape for Dredging Market

The overall market is fragmented in nature as the nature of the dredging business is highly region-specific. However, large-scale projects like land reclamation, canal and port development, and offshore energy projects typically involve major international contractors from Europe and Asia. They have a greater capacity to handle these difficulties due to their large and varied fleets of vessels and cutting-edge equipment.

Recent Developments in the Global Dredging Market

• China Communications Construction Company Ltd. and China Construction Technology Consulting Co., Ltd. inked a framework agreement for strategic collaboration for international trade in Beijing in February 2022.
• In order to strengthen its financial condition, the government-owned dredging corporation The Dredging Corporation of India announced intentions in February 2022 to pay all vendor debts by June 2022. The business is actively attempting to reduce vendor debt in order to increase cash flow over the next two to three quarters.
• Hegemann V, the company's new trailing suction hopper dredger, is almost finished, according to Hegemann Dredging, a significant German provider of a wide variety of dredging services. The dredger was manufactured specifically to carry out a variety of dredging operations and was developed in close cooperation with Kooiman Engineering.

Key Players Profiled in the Dredging Market Report

• HYUNDAI E&C
• Royal IHC
• Dredging, Environmental and Marine Engineering NV (DEME)
• Great Lakes Dredge & Dock Company, LLC
• TOA Corporation
• Penta-Ocean Construction Co., Ltd.
• National Marine Dredging Company
• Amrut Dredging and Shipping Ltd.
• CALLAN MARINE, LTD.
• CASHMAN DREDGING, INC.
• China Communications Construction Company Limited
• COTTRELL CONTRACTING CORPORATION
• Dredge America
• Dredging Africa (Pty) Ltd
• Dutra Group
• J.F. Brennan Company, Inc.
• Jan De Nul Group
• JT Cleary, Inc.
• KSE Marine Works Pte Ltd.
• Manson Construction Co.
• McNally International, Inc.
• Mott MacDonald
• Royal Boskalis Westminster N.V.
• TAMS Group Pty Ltd
• US Aqua Services
• VAN OORD
• Weeks Marine, Inc.

Key Coverage in the Dredging Market Report

• Adjacent study on river dredging market.
• Consumer demand for sediment removal services.
• Emerging trends in port dredging.
• Sales revenue in dredging industry.

Dredging Market Report Scope

Attribute	Details
Estimated Market Size (2024)	USD 16,684.12 million
Projected Market Size (2034)	USD 20,638.92 million
Anticipated Growth Rate (2024 to 2034)	2.15%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	USD million or billion for Value and Units for Volume
Key Regions Covered	North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania
Key Countries Covered	United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa
Key Segments Covered	By Costumer Type, By Application, and By Region
Key Companies Profiled	HYUNDAI E&C; Royal IHC; Dredging, Environmental and Marine ; Engineering NV (DEME); Great Lakes Dredge & Dock Company, ; LLC; TOA Corporation; Penta-Ocean Construction Co., Ltd.; National Marine Dredging Company; Amrut Dredging and Shipping Ltd.; CALLAN MARINE, LTD.; CASHMAN DREDGING, INC.; China Communications Construction ; Company Limited; COTTRELL CONTRACTING ; CORPORATION; Dredge America; Dredging Africa (Pty) Ltd; Dutra Group; J.F. Brennan Company, Inc.; Jan De Nul Group; JT Cleary, Inc.; KSE Marine Works Pte Ltd.; Manson Construction Co.; McNally International, Inc.; Mott MacDonald; Royal Boskalis Westminster N.V.; TAMS Group Pty Ltd; US Aqua Services; VAN OORD; Weeks Marine, Inc.
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Key Segments Covered by Dredging Industry Survey Report

By Customer Type:

• Government
• O&G Companies
• Mining Companies
• Renewable
• Others

By Application:

• Trade Activity
• Trade Maintenance
• Energy Infrastructure
• Urban Development
• Coastal Protection
• Leisure
• Other Applications

By Region:

• North America Market
• Latin America Market
• Europe Market
• East Asia Market
• South Asia and Pacific Market
• Middle East and Africa (MEA) Market

Frequently Asked Questions

How Big is the Global Dredging Market Currently?

The global dredging market is estimated to be around USD 16,684.12 million in 2024.

What is the Growth Outlook of the Dredging Market?

The global dredging market is to grow at 2.15% during the forecast period.

What is the projected Value of Dredging Market by 2034?

The global dredging market is predicted to be valued at USD 20,638.92 million by 2034.

What was the Historical Size of the Dredging Market?

The global dredging market was valued at USD 15,246.87 million in 2019.

Which Segment is the Leading User of the Global Dredging Market?

Governments account for nearly 45.5% revenue share of the global dredging market.

Which Regional Dredging Market has the Highest Growth Potential?

India is predicted to grow at a significant CAGR during the forecast period.