North America dredging market is estimated to grow at a CAGR of nearly 2.0% during the forecast period. Some pivotal factors encouraging dredging operations in the region include emerging investment in maritime infrastructure and increasing offshore oil and gas operations. Significant rise in global trade activities is leading to an increasing focus on the improvement of maritime infrastructure. As a result, several contracts for port dredging operations have reported in the country. For instance, in March 2019, $35 million was received by the Boston Harbor Dredging Project in federal funding. The project is nearly 30% complete, and the funding will support to continue on schedule. This project is a $350 million collaboration between the Commonwealth of Massachusetts, Massachusetts Port Authority (Massport), and the USACE.
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In December 2017, the maintenance dredging of the inner harbor was completed, and the deepening of the key ship channels started in July 2018 for accommodating large container vessels today and in the future. The investment in the Boston Port will enable local manufacturers, industries, and workers to become competitive in the rising global economy. These kinds of investment for maintenance of ports is driving the adoption of marine vessels fitted with dredgers that are capable of weeding off depositions including sediments, sand, gravel, and more from the seabed. Dredging operations ensures safe bottom clearances for the safer voyages and facilitates fishing or water navigation easier in shallow water.
Some prominent players in the market include Great Lakes Dredge & Dock Co., LLC, Callan Marine, Ltd., Coastal Dredging Co., Inc., and Norfolk Dredging Co. Great Lakes Dredge & Dock Co. offers dredging services in the East, West, and Gulf Coasts of the US and globally. In the US, the company’s work is generally performed in coastal waterways and deep-water ports. 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, that was delivered in 2017.
North America 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)
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North America Dredging Market Regional Analysis
- United States
- Canada
