Growing reliance on seaborne trade, strengthening international trade, and positive outlook of the cruise industry are prominent influencers responsible for the growth of the dredging market. Given that intense use of ports has led to an emerging need of dredging services for the harbor deepening as well as land reclamation activities. As the size of container ships progressively becomes larger, dredging services are highly sought after to enhance the accessibility of ports by deepening projects. An effective and safe anchoring of cargo ships, passenger ferries, fishing boats, and all kinds of shipment vessels that afloat in the international waters is ensured by capital dredging.
In this regard, the dredging market is estimated to grow at a modest CAGR of 2.7% during the forecast period of 2017 – 2022. These insights are according to the report, titled “Dredging Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2022,” added to the comprehensive repository of XploreMR recently. Rising government interest as well as investments for the development of existing seaborne trade infrastructure and construction of new ports are occurring in consonance with the need of robust infrastructures to accommodate growing reliance on the sea trade.
While the growth of the oil and gas sea trade underpins the market progress, higher costs of dredging projects and ongoing trade war between the world’s leading economies are estimated to influence the growth of the dredging market during the review period.
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Dredging Market: Scope of the Report
The report on the dredging market delivers a thorough analysis of the market which aptly complements the forecasted growth during the forecast period. On the backdrop of the strong historical study of the dredging market, future scope of the market expansion and development was forecasted on the basis of the current evaluated market size. Further, extensive analysis of the market drivers, restraining factors, as well as opportunities that hold significant influence on the market growth has been discussed.
A systematic segmentation of the dredging market report provides the readers with a seamless reading experience and understanding of the market. Each segment of the report has a separate section which is devoted for the assessed regional market. A market attractiveness analysis is prepared by the extensive tracking of all the metrics of the market segments and assessed geographies which, in turn, supplements the insights provided in this report. Thorough analysis as such serves as a veritable guide for the market stakeholders interested in the progress of the dredging market.
Dredging Market: Research Methodology
The research methodology followed in the report is systematic and sophisticated to derive the market outlook in terms of value and volume. The market forecast is derived against the backdrop of exhaustive primary as well as secondary research. While a thorough study of the reputable paid sources, industry body databases, and trade journals constituted secondary research, interviews, observations, and surveys of the seasoned analysts working in the market domain constitute primary research.
To determine market attractiveness, distribution network dynamics and trading scenario of dredging market across different regional countries have been taken into consideration. Along with a dashboard of important market players, their business strategies such as mergers, acquisition, partnership, updates, and geographical outreach are compiled during the research. The methodology of research as such delivers the readers with the most credible and go-to-forecast of the dredging market for the forecast of 2017 – 2022.