New York, Dredging is the removal of sediments and debris from the bottom of lakes, rivers, harbors, and other water bodies. It is a routine maintenance procedure that is necessary to keep these water bodies navigable and free of hazards.
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Market Segments
The dredging market is segmented by type, application, and region. By type, the market is classified into government, mining companies, and others. Based on application, it is bifurcated into trade activity, trade maintenance, energy infrastructure, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Key Players
The global dredging market includes players such as Hyundai E&C, Royal IHC, Dredging, Environmental and Marine Engineering NV , Great Lakes Dredge & Dock Company LLC, TOA Corporation, Penta-Ocean Construction Co. Ltd., National Marine Dredging Company, Amrut Dredging and Shipping Ltd., Callan Marine Ltd., Cashman Dredging Inc., and others.
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Key Drivers
The key drivers of the dredging market are the increasing demand for maritime transportation, the need for coastal protection, and the need for land reclamation.
The demand for maritime transportation has been increasing steadily over the past few years due to the globalization of trade. This has resulted in an increase in the number of ships and vessels plying the world’s oceans and waterways.
The need for coastal protection has also increased due to the rise in sea levels and the increased frequency and intensity of storms and hurricanes. Coastal areas are vulnerable to flooding and erosion.
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