North America dredging hose market is estimated to grow at a CAGR of nearly 3.1% during the forecast period. North America has witnessed significant growth in the market owing to the rising number of dredging projects and the rising investment in maritime infrastructure. The US dredging industry is significantly focusing on setting up and maintaining safe, potential, and cost-effective navigation channels in the inland ports and waterways across the country. As a result, there is a rise in dredging contracts in the country. For instance, in June 2020, Great Lakes Dredge & Dock Corp. (GLDD), one of the major providers of dredging services in the US declared the implementation of a definitive contract to build a 6,500-cubic-yard-capacity trailing suction hopper dredge (TSHD) with Conrad Shipyard.
The vessel will complement the existing six-dredge hopper fleet of the company, such as the ATB Tug Douglas B. Mackie and 15,000-cubic-yard-capacity barge Ellis Island, which was delivered in 2017. Further, increasing government financing for the US dredging projects are primarily escalating the growth of the market. The competition between the US ports and waterways and preparation for larger vessels contributes to the rise in projects and the need for funding in the US. For instance, in March 2019, Boston Harbor Dredging Project received $35 million in federal funding. This project is a $350 million collaboration between the Commonwealth of Massachusetts, Massachusetts Port Authority (Massport), and the USACE. The rising dredging projects are boosting the adoption of dredging hoses to transport the objects which have heavy specific gravity and large volumes, such as weathered rock, coral reef, and coarse sand.
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North America Dredging Hose Market Segmentation
By Type
- Floating Dredge Hose
- Non-Floating Dredge Hose
Regional Analysis
- United States
- Canada
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Company Profiles
- Able Hose & Rubber LLC
- Ace Hose and Rubber Company
- Nelco Marine
- NovaFlex Group
- Parker-Hannifin Corp.
- Royal Boskalis Westminster N.V.
- Salem-Republic Rubber Co.
- The G.W. Van Keppel Co.
- Townley Engineering & Manufacturing Co., Inc.
- Trelleborg AB
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