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Harbor Deepening Market

Harbor Deepening Market

Harbor Deepening Market Forecast, Trend Analysis & Competition Tracking - Global Market insights 2018 to 2028

Harbor Deepening Market

More than 30% of harbor deepening demand is generated by government organizations in end-user segment: Fact.MR

The global harbor deepening market was valued at US$ 4.1 billion in 2017. The market is expected to expand at a CAGR of 3% over the forecast period, 2018-2028.

Harbor deepening is a service required for digging activities, particularly in ports and harbors for various purposes.

Harbor deepening finds its applications in capital deepening, trade maintenance, urban development and coastal protection.

On the basis of end users, the harbor deepening market is segmented into government organization, private organization, mining & energy companies and oil & gas companies.

The key market players in the harbor deepening market are based out in Europe, however, they operate in international waters.

Major projects of these players are in the Middle-East due to the constant demand from the oil & gas sector.

Along with trade maintenance, urban development coastal protection activity is also contributing substantially in the harbor deepening market growth, mainly in the countries with a limited land area such as Singapore and Malaysia, and countries with along coastline and prone to flood and waterborne calamities.

harbor deepening market

Drivers & Restraints

The global harbor deepening market has witnessed its share of ups and downs, especially after the global recession of 2007-08.

However, with the recovery in global economy, the world trade has also grown significantly.

A spurt in the global infrastructure activities has necessitated the need for expansion and maintenance of existing harbor and development of new ones.

Considering the fact that over 85% of global trade is carried out through sea trade, maintaining existing pathways and creating new ones has gained prominence.

According to UNCTAD, global seaborne trade volume surpassed 10 billion tons in 2015, with shipments expanding by over 2%.

With an increase in population, there is an emerging need for huge cargo. As a result, docking space on port and harbor is expanding.

The expansion of the Panama Canal, which cost around US$ 6 billion, has made it possible for ships with large TEUs to pass through.

Owing to the Panama expansion, the average size of container vessels has also witnessed an increase, necessitating maintenance work in ports which cannot accommodate these behemoth ships.

Moreover, the demand for harbor deepening is very high in North America due to increasing dependency on seaborne trade in this region.

North America accounted for a substantial market share of the harbor deepening industry.

Although harbor deepening remains an important activity from an economic perspective, when carried out without consideration, it has the potential to cause ecological imbalance.

Environmentalists have often opposed several mega harbor deepening 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.

In July 2017, the Court of Appeal found that the Northern Ireland Government acted unlawfully by failing to intervene in the sand dredging at Lough Neagh lake in Northern Ireland.

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Market Taxonomy

The global market for harbor deepening is segmented as per application and end user.

As per application, the global harbor deepening is segmented as follows:

  • Capital Deepening
  • Trade Maintenance
  • Urban Development
  • Coastal Protection

As per end user, the global harbor deepening is segmented as follows:

  • Government Organizations
  • Private Organizations
  • Mining & Energy Companies
  • Oil & Gas Companies

Trade maintenance activities among application segment of harbor deepening market is expected to drive the global market by value.

Among end user segment, government organizations segment is anticipated to dominate the global market during the forecast period along with significant growth in private organization segment.

Competitive Landscape:

Key players operating in the global market for harbor deepening include

  • Royal Boskalis Westminster
  • Van Oord Dredging & Marine Contractors
  • Jan De Nul
  • DEME
  • Hyundai E&C Ltd.
  • Penta Ocean Construction Ltd.
  • China Harbor Engineering Company
  • Great Lakes Dredge & Dock Corporation
  • Toa Corporation.

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Key Segments Covered

  • By Application

    • Capital Deepening
    • Trade Maintenance
    • Urban Development
    • Coastal Protection
  • By End User

    • Government Organizations
    • Private Organizations
    • Mining & Energy Companies
    • Oil & Gas Companies
  • Regional analysis is presented for following market segments:

    • North America

      • U.S.
      • Canada
    • Latin America

      • Brazil
      • Mexico
      • Argentina
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • EU4
      • UK
      • BENELUX
      • NORDIC
      • Eastern Europe
      • Rest of Europe
    • CIS & Russia
      • Japan

    • Asia Pacific Excluding Japan (APEJ)
      • Greater China
      • India
    • Korea

      • ASEAN Countries
      • Rest of APEJ
    • Middle East and Africa (MEA)
      • GCC Countries
      • Turkey
      • Iran
      • Israel
      • South Africa
      • Rest of MEA

Harbor Deepening Market  Scope Of The Report

In this report, Fact.MR offers a 10-year forecast of the global harbor deepening market, between 2018 and 2028.

The market is expected to expand at a CAGR of 3% during the forecast period. The study reveals market dynamics in seven geographic segments along with market analysis for the current market environment and future scenario over the forecast period.

This Fact.MR report studies the global harbor deepening for the period 2018–2028.

The prime objective of this report is to offer insights and key market trends pertaining to the harbor deepening projects that are gradually helping transform global businesses.

The global harbor deepening market report begins with the executive summary for various categories and their respective shares in harbor deepening.

It is followed by market dynamics and overview of the global harbor deepening, which includes FACT.MR analysis of market drivers, restraints, and trends that are affecting the growth of harbor deepening.

Furthermore, to understand the popularity of the market segment, the attractiveness index and BPS analysis with elaborate insights on the same is provided, which will show the market’s attractiveness based on factors such as CAGR and incremental opportunity.

To show the growth of harbor deepening in each country and region, BPS and Y-o-Y growth analysis is provided.

The global market for harbor deepening is further segmented as per application and end user.

On the basis of application, the global market for harbor deepening is segmented into capital deepening, trade maintenance, urban development and coastal protection.

On the basis of end-user, the harbor deepening is segmented into government organizations, private organization, mining & energy companies and oil & gas companies.

The next section of the report highlights the harbor deepening, by region and provides the market outlook for 2018–2028. The study investigates the Y-o-Y growth regionally and analyses the drivers that influence the regional harbor deepening market.

Key regions assessed in this report include North America, Latin America, Europe, CIS & Europe, Japan, Asia Pacific excluding Japan and Middle East & Africa (MEA).

The report evaluates the present scenario and growth prospects of the regional harbor deepening for 2018–2028.

To ascertain the market size, revenue generated by the key service providers from harbor deepening as well as dredging activities and their respective key projects is taken into consideration.

The forecast presented here assesses the total revenue generated by value across harbor deepening activities.

In order to provide an accurate forecast, we started by sizing up the current market, which forms the basis of how harbor deepening services are expected to develop in the future.

Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analysis, service provider side, downstream industry demand and the economic envelope.

In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of the CAGR, but also to analyse the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of harbor deepening and identifying the right opportunities across the market.

The market segment for global harbor deepening has been analyzed in terms of basis point share (BPS) to understand the individual segment’s relative contributions to market growth.

This detailed level of information is important for identifying various key trends in harbor deepening. Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity.

Absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve and to identify potential resources of harbor deepening from the perspective of delivery.

The overall absolute dollar opportunity along with the segmental split is mentioned in the report.

To understand key growth segments in terms of growth and the adoption of harbor deepening across the globe, Fact.MR developed the harbor deepening ‘attractiveness index.’

The resulting index should help providers identify real market opportunities.

In the final section of the report on harbor deepening, the ‘dashboard view’ of companies is provided to compare the current industrial scenario and their contribution to total harbor deepening.

Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers that is specific to a market segment.

Report audiences can gain segment-specific service providers’ insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in harbor deepening.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

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