Asia-Pacific dredging hose market is estimated to grow at a CAGR of nearly 3.7% during the forecast period. Rising development of port infrastructure and significant focus on riverbed dredging are some key factors contributing to the market growth in the region. Rising seaborne trade has led the demand for port maintenance and development in the region. China is the leader in the global exports and therefore, seven out of the top ten busiest ports are in China, as per the World Shipping Council. Further, in India, the government initiatives including the National Perspective Plan for Sagarmala are encouraging ports development in the country.
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Emerging economies including Bangladesh are also focusing on investment in port infrastructure. For instance, in February 2020, the Bangladesh government prepared a master plan to dredge 10,000 km of rivers to increase navigability and ensure better water transportation. Nearly 178 rivers will be dredged over the next five years. This leads to increasing demand for dredging equipment including hoses for suction and discharge applications and is suited in most demanding applications.
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Asia-Pacific Dredging Hose Market Segmentation
By Type
- Floating Dredge Hose
- Non-Floating Dredge Hose
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