US Dredging Market: Report Based on Development, Scope, Share, Trends, Forecast to 2027


Posted September 16, 2021 by saifiyan1212

The US dredging market is estimated to grow at a CAGR of nearly 2.0% during the forecast period.

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

US Dredging Market Segmentation
US Dredging Market by Type
• Mechanical Dredger
o Bucket Dredger
o Grab Dredger
o Backhoe Dredger

• Hydraulic Dredger
o Suction
o Cutter Suction Dredger
o Trailing Suction Hopper Dredger
o Barge Unloading Dredger

US Dredging Market by End-User
• Government
• Oil and Gas Companies
• Mining Companies
• Others (Renewable Energy)

US Dredging Market – Segment by Region
North America
• United States
• Canada

Europe
• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World
• Latin America
• Middle East and Africa

Company Profiles
• 3R, Inc.
• Callan Marine, Ltd.
• Coastal Dredging Company, Inc. (CDC)
• Fraser River Pile and Dredge (GP) Inc.
• Great Lakes Dredge & Dock Co., LLC
• Inland Dredging Company, LLC
• J.F. Brennan Co., Inc.
• Jay Cashman, Inc.
• Norfolk Dredging Co.
• Orion Group Holdings, Inc.
• Weeks Marine, Inc.


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About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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Issued By Saifiyan Shaikh
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Categories Business , Computers , Electronics
Tags US Dredging Market
Last Updated September 16, 2021