Dredging Equipment Market Size To Reach $7.36 Billion By 2030

Dredging Equipment Market Growth & Trends

The global dredging equipment market size is anticipated to reach USD 7.36 billion by 2030 and is projected to grow at a CAGR of 6.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing use of dredging equipment to improve water quality, maintain navigable waterways, and reclaim land is a major factor behind the market growth. In addition, an increasing need to prevent flooding, restore aquatic habitats, and support various environmental and industrial projects is driving the demand for different dredging equipment in the global market.

The dredging industry is undergoing significant transformations as digitalization and sustainability become increasingly intertwined. Automation and smart technologies such as Artificial Intelligence (AI) and Machine Learning (ML) are being widely deployed to enhance operational efficiency. In addition, there is a growing trend towards the adoption of environmentally friendly dredging equipment and sustainable dredging techniques. This shift is driven by the recognition of the critical role that dredging plays in maintaining global trade and economic growth while minimizing its ecological footprint.

Dredging companies are leveraging their industry knowledge and capabilities to identify and capitalize on promising investment opportunities. Simultaneously, manufacturers in the dredging sector are focusing on enhancing their adaptability to keep pace with the rising demand for dredging operations and cutting-edge dredging technologies. For instance, in March 2024, the Dredging Corporation of India Limited (DCI) and BEML Limited signed a Memorandum of Understanding (MoU) to advance the design, development, and manufacturing of spare parts for dredgers. The collaboration involves joint initiatives in the development and manufacturing of dredgers, with a focus on harnessing the technological expertise of Original Equipment Manufacturers (OEMs) in the industry.

The trend of migration towards coastal regions is escalating, leading to a substantial surge in the demand for dredging products and services. This increased need is primarily driven by the requirement for more land to be developed and protected from flooding and soil erosion. In addition, the rising sea levels are causing frequent floods in coastal areas, which in turn is expected to significantly boost the demand for dredging operations and related dredging equipment in the coming years.

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Dredging Equipment Market Report Highlights

• Based on type, the hydraulic dredger segment led the market with the largest revenue share of 46.65% in 2023. The growing use of hydraulic dredging to remove sediments, debris, or silt from bodies of water using hydraulic forces is driving the segment’s growth. Hydraulic dredging uses specialized equipment, such as pumps and dredges, to transport, dislodge, and dispose of materials from underwater environments

• Based on application, the navigational channels segment led the market with the largest revenue share of 38.49% in 2023. Increasing demand for dredging equipment for periodic maintenance dredging as well as occasional deepening and enlarging of navigation channels is attributed to the segment’s growth

• Asia Pacific dominated the market with the largest revenue share of 34.98% in 2023. Growing government investments in dredging projects and the increasing volume of seaborne trade are the primary drivers behind the market growth

• In May 2024, Dredge Yard launched a cutter suction dredger, the CSD250, designed for a customer in Greenland. The dredger is equipped with several key components, including an inboard dredge pump, two hydraulic propellers, an advanced cutter system featuring replaceable cutter teeth, a dredge monitoring system, a hydraulic spud system, and a hydraulic crane

Dredging Equipment Market Segmentation

Grand View Research has segmented the global dredging equipment market report based on type, application, and region:

Dredging Equipment Type Outlook (Revenue, USD Million, 2018 - 2030)

• Mechanical Dredger

• Hydraulic Dredger

• Others

Dredging Equipment Application Outlook (Revenue, USD Million, 2018 - 2030)

• Navigational Channels

• Land Reclamation

• Environmental Remediation

• Construction

• Others

Dredging Equipment Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • Indonesia

  • Malaysia

  • Philippines

  • Singapore

  • Vietnam

• Latin America

  • Brazil

• Middle East & Africa

  • Kingdom of Saudi Arabia

  • UAE

  • South Africa

Key Players in the Dredging Equipment Market

• American Marine Corporation

• Dredge Yard

• DSC Dredge, LLC

• Ellicott Dredges, LLC

• GeoForm International Inc.

• Holland Dredge Design

• Liebherr-International AG

• Royal IHC

• Shandong Haohai Dredging Equipment Co., Ltd.

• US Aqua Services

• VMI, Inc.