Industry Analysis & Industry Trends
This industry is an essential part of the US economy because two vital sectors, maritime tourism and international trade, depend heavily on dredging services. As a result, the industry benefits from public and private restoration projects. Despite federal budget constraints over the past five years, the industry has experienced revenue growth due to strong underlying demand. Growth is anticipated to quicken in the coming five years as freight lines develop larger cargo vessels, necessitating investments in dredging services to increase the capacity of ports. A legislative push to free more funding for port improvements is also expected to benefit industry companies, which will invest in more powerful, fuel-efficient fleets to meet growing demand.... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Dredging Services industry has a moderate level of market share concentration, with the two largest players estimated to account for 59.4% of industry revenue in 2014. The largest player, Great Lakes Dredge and Dock Company, absorbs about 38.1% of the market. Its main competitor, Manson Construction Company, captures an estimated 21.3%.
The US dredging industry is highly fragmented and is characterized by its many small operators. Larger operators focus on capital dredging projects that are usually awarded through competitive bidding. Smaller dredging firms tend to service inland areas and focus on rivers and lakes. The majority of dredging services are privately held... purchase to read more