Harbor Deepening Market to be Worth US$ 7.15 Billion by 2033: Fact.MR Report
Harbor Deepening and Expansion Projects Necessitated Due to Rapidly Increasing Trade Activities through Sea Routes
Rockville , Sept. 04, 2023 (GLOBE NEWSWIRE) -- According to this new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global harbor deepening market stands at a valuation of US$ 5.07 billion in 2023 and is projected to expand at a CAGR of 3.5% from 2023 to 2033.Harbor deepening is a vital component of global maritime infrastructure development. It involves dredging and excavation activities in harbors and ports to increase water depth. This allows larger vessels to access these routes and facilities. Deepening harbors is crucial for accommodating the ever-growing size of cargo ships, enhancing trade, and boosting economic development in coastal regions.
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Dredging technology is evolving rapidly. Innovations such as automated dredgers, hydrographic surveying, and real-time monitoring systems are enhancing the efficiency and precision of harbor deepening. Governments worldwide are investing in port infrastructure as part of their economic development strategies. This is creating lucrative growth opportunities for harbor deepening contractors and service providers.
*Key Segments of **Harbor** Deepening Industry Research Report*
*By Application * *By End User * *By Region *
Capital Deepening Government Organizations North America
Trade Maintenance Private Organizations Latin America
Urban Development Mining and Energy Companies Europe
Coastal Protection Oil and Gas Companies East Asia South Asia & Oceania MEA
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*Key Takeaways from Market Study*· The global harbor deepening market is forecasted to reach US$ 7.15 billion by 2033.
· Sales of harbor deepening technologies in North America are set to rise at a CAGR of 2.2% from 2023 to 2033.
· The Chinese market for harbor deepening is projected to increase at a CAGR of 6.7% through 2033.
· European countries such as the Netherlands, Belgium, and the United Kingdom are witnessing significant harbor deepening activities to support their robust maritime industries.
*“**Companies specializing in **environment-**friendly dredging technologies and **improved deepening** solutions will do well to gain a strong foothold in this business,**”* says a Fact.MR analyst.
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Report Attributes
* *Details*
Forecast Period 2023 – 2033
Value Projection (2033) US$ 7.15 Billion
Growth Rate (2023-2033) 3.5% CAGR
No. of Pages 170 pages
No. of Tables 60 Tables
No. of Figures 107 Figures
*Key Companies Profiled in This Report*
· DEME
· Jan De Nul
· Great Lakes Dredge & Dock Company
· Royal Boskalis Westmister
· Van Oord Dredging & Marine Contractors
· CHEC
· Penta Ocean
· Hyundai E&C
· TOA Corporation
· Dredging Corporation of India
· National Marine Dredging
· Cashman Dredging
· Inai Kiara
· Rohde Nielsen
· Norfolk Dredging
· Starhigh Asia Pacific Pte Ltd
· Weeks Marine Inc.
· Orion Marine Group
· J.F. Brennan
· Salmons Dredging Corporations
· BEAN
· Ellicott Dredges
· CCCC Tianjin Dredging Co., Ltd.*Competitive Analysis*
Leading harbor deepening technology and system providers are focusing on innovations to increase their market share. Collaborations with other companies, including local partners, engineering firms, and equipment manufacturers, are allowing market players to access specialized expertise and resources.
· In 2020, Penta-Ocean Construction Co. Ltd. completed the acquisition of Singapore-based company 'M&E Pte Ltd'.*Get Customization on this Report for Specific Research Solutions:*
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*More Valuable Insights* *on Offer*
Fact.MR, in its new offering, presents an unbiased analysis of the global harbor deepening market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on application (capital deepening, trade maintenance, urban development, coastal protection) and end user (government organizations, private organizations, mining & energy companies, oil & gas companies), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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*About Fact.MR**:*
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