Dredging Market Share

According to new Fact.MR study, the global dredging market is anticipated to grow at a value CAGR of ~3% during the forecast period, to reach a market share of ~USD 21 Bn by 2029 from an estimated value of ~USD 15 Bn in 2019. Over the past decade, the dredging market has come across ups and downs in terms of share across the globe. However, with the restoration in the global economy, the seaborne trade has also grown notably. Increased in global infrastructure activities create needs for the development of new ports and expansion of existing ports. Across the globe, ~ 85% trade occurs through sea trade. Maintaining existing pathways and developments of new ones have gained importance. According to UNCTAD, supported by 2017 year’s upswing in economy, the global seaborne trade is flourishing. Expanding at 4%, the global seaborne trade volume has reached 10.7 billion tons and has gathered momentum in the shipping industry.

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