India dredging hose market is estimated to grow at a CAGR of nearly 4.2% during the forecast period. The Indian dredging industry is significantly driven by the increasing demand for dredging from its major and non-major ports. Owing to the recent developments to encourage local manufacturing coupled with the Make in India initiative and the government’s focus for the development of the Indian maritime sector, the dredging sector is gaining significance across the country. Indian ports are focusing on handling more cargo with the accommodation of larger vessels and fulfilling global standards in port infrastructure to achieve economies of scale. Therefore, Indian ports are working towards the development of the basic infrastructure such as mechanization and the creation of more berths and deepening of channels, which will offer strong demand for the dredging operations. Moreover, the development of greenfield ports would also propel the demand for dredging in India.
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As per the Ministry of Shipping (MoS), in the next few years, most of the key ports would increase their capacity to accommodate bigger ships. Apart from these, the increasing need for new developments from Navy, offshore exploration, and national waterways, the scope of the Indian dredging industry seems vast. As per the Dredging Corp. of India Ltd., the Indian annual dredging market was estimated at nearly 147 – 157 million cubic meter (mcm) with maintenance dredging representing nearly 70% of the Indian dredging market. India has 12 major ports and nearly 200 non-major ports administered by Central and State Governments, respectively. 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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India Dredging Hose Market Segmentation
By Type
- Floating Dredge Hose
- Non-Floating Dredge Hose
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
