The US dredging market is estimated to grow at a CAGR of nearly 2.0% during the forecast period. Rising investment in port infrastructure and increasing minerals production are some pivotal factors contributing to the growth of the market. As per the US Geological Survey (USGS), in 2019, the US mines produced nearly $86.3 billion in minerals, more than $2 billion higher compared to revised 2018 production totals. In 2019, the estimated total value of non-fuel mineral production in the US was $86.3 billion, a rise of 3% from 2018.

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Key players in the market include Great Lakes Dredge & Dock Co., LLC, Callan Marine, Ltd., Coastal Dredging Co., Inc., and Norfolk Dredging Co.

The increasing minerals production has emerged the demand for mineral dredging for extraction of minerals that may have a significant economic value from underwater deposits. Extraction of mineral materials from the seabed comprise aluminum (bauxite), mineral sands (ilmenite, rutile, zircon), gold, tin (cassiterite), rocks salts, and diamond deposits. Additionally, it comprises more standard material that covers sand and gravel, are used as aggregates in the construction industry. Seabed dredged aggregates are an emerging alternative to land-based sources, including quarries. This, in, turn, is contributing to the increasing seabed dredging in the country.

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The US dredging industry is highly fragmented that consists of nearly 250 entities currently operating over 850 dredges, mainly in dredging maintenance. A large number of these dredges are smaller and provide service to the inland, rather than waterways and coastal. These players are gaining significance in the government contracts for dredging. For instance, in April 2020, USACE provided a construction contract valued $97.9 million to Callan Marine, Ltd. This is intended to finish the second phase of the four-phase Corpus Christi Ship Channel Improvement Project. It enhances the channel depth from -47 feet Mean Lower Low Water (MLLW) to -54 ft MLLW and broadens the channel to 530 feet with an additional 400 feet of barge shelves.

Market Segmentation

US Dredging Market by Type


Mechanical Dredger
Bucket Dredger
Grab Dredger
Backhoe Dredger
Hydraulic Dredger
Suction
Cutter Suction Dredger
Trailing Suction Hopper Dredger
Barge Unloading Dredger


US Dredging Market by End-User


Government
Oil and Gas Companies
Mining Companies
Others (Renewable Energy)


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