Asia-Pacific dredging market is estimated to grow at a CAGR of nearly 2.5% during the forecast period. Increasing government investments for dredging and extreme seaborne trade operations are the major factors contributing to market growth. China holds a potential share in the global export and therefore, seven out of the top ten busiest ports are in China from consecutive years, as per the data by World Shipping Council. China Communications Construction Company, Ltd. (CCCC) is among the largest companies globally providing dredging services, operating mainly in China and some of its neighbouring countries. Owing to the increasing Chinese ports’ volume and emerging port handling capacity, the country is significantly focusing on modernizing the ports. Existence of thousands of rivers is further encouraging the demand for dredging operations in the country.
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Therefore, Chinese dredging companies have undertaken a large amount of dredging and reclamation works for ports, navigation channels, irrigation, and environmental protection. Moreover, Indian government initiatives including the National Perspective Plan for Sagarmala is estimated to boost the demand for dredging services. Under the scheme, six new mega ports will be developed in India. Other emerging economies such as Bangladesh has also reported focusing on dredging activities. For instance, in February 2020, the Bangladesh government declared a master plan to dredge 10,000 km of rivers to increase their navigation ability that will facilitate water transportation. Nearly 178 rivers will be dredged in the next five years. This, in turn, has emerged the demand for dredging equipment in the region.
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Asia-Pacific Dredging Market Segmentation
By Type
- Mechanical Dredger
- Bucket Dredger
- Grab Dredger
- Backhoe Dredger
- Hydraulic Dredger
- Suction
- Cutter Suction Dredger
- Trailing Suction Hopper Dredger
- Barge Unloading Dredger
By End-User
- Government
- Oil and Gas Companies
- Mining Companies
- Others (Renewable Energy)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
