The Business Research Company's "Global Dredging Market Report 2023" provides a thorough understanding of the market across 60 geographies. Asia-Pacific was the largest region in the dredging market. ěy Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.Read More On The Global Dredging Market Report Here:ġ) By Type: Dipper, Water Injection, Pneumatic, Bed Leveler, Other TypesĢ) By Application: Trade Activity, Trade Maintenance, Energy Infrastructure, Urban Development, Coastal Protection, Leisureģ) By End User: Oil And Gas Companies, Mining Companies, Renewables, Other End Users They are unique in that they use their own propulsion during the excavation of deposits from a borrow area and then can cart the material to the placement area. For instance, in May 2022, Damen Shipyards, a subsidiary of Netherlands-based Damen Holdings, introduced the new Trailing Suction Hopper Dredger (TSHD) series that ranges from 800 m³ to 5,000 m³ which is efficient in operation, practical in maintenance, and customizable for each specific dredging operation. Major companies operating in the dredging sector are focused on developing new innovative products to strengthen their position in the market. Major competitors in the dredging market are Royal Boskalis Westminster N.V., Van Oord NV, Dredging Environmental and Marine Engineering N.V., Jan De Nul N.V., Great Lakes Dredge & Dock Corporation.Ī key trend in the dredging market includes product innovations. The dredging market is expected to grow to $14.39 billion in 2027 at a CAGR of 3.4%.ĭownload Free Sample Of Dredging Market Report. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The global dredging market size is expected to grow from $12.11 billion in 2022 to $12.58 billion in 2023 at a compound annual growth rate (CAGR) of 3.9 %.
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