Published Date: 2019-07-22 | Pages: Ongoing | Tables: Ongoing | Report ID: 7311
Industry: Machinery & Equipment
The global dredging market is prophesied to gain growth while riding on increasing maintenance of seaports, river areas, and seabeds to ensure safe passage of ships, boats, and other vessels across the world. Dredging could be mainly concentrated on increasing the depth of berthing areas, anchorages, and navigation channels. In June 2019, the Port of Coos Bay announced in its press release that a maintenance dredging scheme where channel dredging of River Mile 12 to 15 of the Coos Bay River will be conducted from July 2019. According to the press release, American Construction Co., Inc. was contracted to complete the project.
Development of New Seaports and Tourism to Increase Demand for Dredging
● Need to develop new ports and expand or renovate existing ones is foreseen to augur well for the global dredging market
● Increase in seaborne trade and infrastructure development activities due to the recovery of global economic growth is predicted to benefit players in future
● Growth in the tourism sector encouraging beach replenishment and construction of new seaports is anticipated to create rewarding prospects in the global dredging market
● Demand for capital dredging to increase with the need to ensure safe docking of passenger ferries, fishing boats, cargo ships, and other vessels on international waters
● Need to maintain port access channels and growth of the maritime industry could be other factors leading to global market growth
Renewable Energy Projects to Create Opportunities for Dredging Companies
The report covers almost all key players of the global dredging market, including Hyundai, National Marine Dredging, Weeks Marine, Great Lakes, Jan De Nul, DEME, Van Oord, China Harbour Engineering, and Royal Boskalis Westminster. All of these companies are deeply studied in the research study according to their market share, recent developments, revenue growth, regional presence, sales, and other vital factors.
Vendors are expected to work more on renewable energy projects and tap into lucrative opportunities in the energy sector. In April 2019, Dutch maritime contracting company that specializes in dredging, Van Oord successfully completed the installation of 44 wind turbines of Belgium’s largest offshore wind farm, i.e. the Norther Offshore Wind Farm.
Dredging Vendors Aspire for Sustainable Future – Focus on Emissions Reduction
Top players are foretold to make sustainable investments in future. In May 2019, Jan De Nul, a Luxembourg-based construction engineering company that mainly focuses on dredging, introduced its fourth Ultra-Low Emission vessel in Singapore. The 6,000 m³ green vessel TSHD Sanderus was built at the Keppel Offshore and Marine shipyard.
Set to be delivered in 2022, the Voltaire is Jan De Nul’s third offshore jack-up installation vessel that was ordered in April 2019. It was added to the company’s fleet to prepare for next-gen offshore wind projects. In June 2019, the company committed to reduce carbon dioxide emissions by 15% annually during Nieuwpoort coastal marina maintenance dredging works.
By Product Type
● Water Injection
● Bed Leveler
● SNG Boat
By End User
● Oil and Gas Companies
● Mining Companies
The report provides segmental research on different types of products used in the global dredging market, which include SNG boat, Krabbelaar, bed leveler, pneumatic, water injection, and dipper. The authors of the report have also shed light on key applications or end users such as renewables, mining companies, oil and gas companies, government, and others. Among these, government may be one of the leading segments of the global market. However, it could lose market share in the coming years. Contrastingly, oil and gas companies are projected to gain market share in the near future.
Asia Pacific is predicted to take hold of a significant share of the global dredging market due to increase in mining activities. China could be one of the leading markets in the region. There could also be growth opportunities in North America, especially in the US market, because of the increase in the number of sea, river, and beach maintenance projects.
NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.
The machinery and equipment sector is always undergoing changes with evolution in technology. Machinery and equipment include a wide range of products for various applications. Players are constantly striving to bring in innovation for efficiency and to remain relevant in the cutthroat competition. QYR Consulting brings to its readers reports ranging from heavy trucks to automated teller machines. These reports have been written after a careful analysis of the growth of the market over decades and by taking into account its trajectory.
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