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Dredging Services - Industry Market Research Report

  • June 2016
  • 31 pages
  • Ibisworld
Report ID: 4558118

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Digging deep: Demand for dredging services will rise to accommodate larger oceanic vessels



Abstract

Dredging Services

The Dredging Services industry is an essential and underlying service in the US economy that facilitates port functionality and supports two vital sectors, maritime tourism and international trade. Additionally, dredging services play an important role in restoring and preserving wetlands, coastlines and maritime habitats. As a result, the industry benefits from public and private restoration projects. While government budget cuts have stemmed growth, rising demand for dredging services is expected to increase industry revenue over the five years to 2016. As ocean freight lines develop and incorporate enormous cargo vessels into their fleets to improve shipping efficiencies and economies of scale, the need for dredging services will increase. Maintenance dredging will be paramount to ensure that ports and harbors remain competitive and accessible to these large vessels. As a result, industry revenue is forecast to increase over the five years to 2021. Industry operators are also expected to invest in newer, more powerful and fuel-efficient dredging fleets to meet growing demand.


This industry provides dredging services, such as moving deep-water sediment to keep waterways open for commerce and replenishing beaches and other maritime and wetland environments.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.



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