March 11, 2019 by Steve Blade
Efficiently-designed and well-constructed sea ports are viewed as the bedrock upon which a region’s infrastructure is developed and maintained. Angcross the globe, freight transportation is widely achieved by sea, urging regional governments to employ dredging throughout their shores. Capital dredging remains principal in ensuring an effective and safe docking of cargo ships, fishing boats, passenger ferries, and all kinds of vessels that afloat the international waters.
Fact.MR’s recently collated study foretells that the dredging market will record a modest 2.7% CAGR between the forecast 2017 and 2022. An effective dredging service can directly improve the social and economic development of a region by providing deeper channels to protect the submerged depends of ships. The maritime infrastructure sector continues to witness diversity in dredging techniques, with some offering maintenance of port access channels while others being designed on the basis of characteristics of the soil being dredged. In the foreseeable.
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Tourism Sector – a Catalyzer for Global Dredging Market
The prospects of dredging industry are closely tied with the broader developments in the global tourism sector, as construction of new airports and beach replenishments accounts for a sizeable share of total revenues generated by dredging companies. According to data from World Tourism Organization, the total number of international tourist arrivals in 2016 stood at over 1.2 billion.
Construction companies from Asia are leading in this cluster of companies. China Construction Communication Company (CCCC), Hyundai Engineering & Construction, Samsung Engineering & Construction, Toa Corporation are dominant players in this category of dredging business. These companies have operational span less than the leading category of aforementioned players in dredging specialist companies. Predominantly, construction is the key business function of these companies, but they also offer services as dredger across diverse geographies.
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The third group of players in the global dredging market is regional operators, which are largely based out of Europe, and predominantly are Dutch companies. A handful of the Asian companies fare in this list such as Gulf Cobla and National Marine Dredging Corporation from UAE, Rukindo from Indonesia, DCI from India. European market houses a large number of such regional player a few in the list include Van der Kamp, Van den Herik, Baggerbedrijf De Boer etc.
Ecological Impact of Dredging Can Impede Approvals from Regulatory Authorities: Although dredging remains an important activity from economic perspective, when carried out without consideration, it has the potential to cause ecological imbalance. Environmentalists have often opposed several mega dredging projects around the globe. According to a report by National Oceanic and Atmospheric Administration, the large-scale dredging at Miami led to the burying of 81% of coral reef at the site.
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