Dredging Market Trends 2022| Segmentation, Outlook, Industry Report to 2032

 The global dredging market is expected to reach a valuation of US$ 15.6 Bn in 2022.  As per the report, demand in the dredging market is slated to increase at a CAGR of 3.7%, reaching a valuation of US$ 22.3 Bn by 2032.

By customer type, the government segment currently accounts for more than 40% share in the usage of dredging services for various activities such as coastal protection, trade activities, and mining projects.

East Asia is anticipated to hold a dominant share of 29.6% in the global dredging market due to an increase in mining and trade activities

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Emerging markets and developing countries, as well as domestic demand and investment rebound in industrialized economies, fueled growth in 2017. The predominance of the mega-cities, that have a population of more than 10 million people, is expected to increase in Asia Pacific. There are 39 megacities across the globe, with the majority of urban areas in flood-prone zones, which is expected to expand to 41 by 2030, requiring dredging services for coastal protection.

The integrity of many coastal countries' dynamic shorelines must be maintained regularly. Dredging services are used to carry out coastline protection initiatives and providing beach replenishment. Side effects of climate change, such as extreme weather and rising sea levels, have a direct impact on highly populated coastal or low-lying towns, such as an imminent risk of flooding, especially as a result of natural disasters.

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