Digging deep: Demand for dredging services will rise to accommodate larger oceanic vessels

The Dredging Services industry is an essential and underlying service in the US economy that facilitates port functionality and supports two vital sectors, maritime tourism and international trade. Additionally, dredging services play an important role in restoring and preserving wetlands, coastlines and maritime habitats. As a result, the industry benefits from public and private restoration projects. While government budget cuts have stemmed growth, rising demand for dredging services is expected to increase industry revenue over the five years to 2016. As ocean freight lines develop and incorporate enormous cargo vessels into their fleets to improve shipping efficiencies and economies of scale, the need for dredging services will increase...read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 12-17
7.1%
Forecast Growth 17-22
Profit
Employment
8,385
Businesses
253

Industry Threats & Opportunities

  • US ports, harbors and waterways have been insufficiently dredged due to budgeting deadlocks on Capitol Hill
  • A lack of dredging hurts the economy, making imports and exports more expensive
  • To accommodate new ultra-large container ships, ports must be deepened and expanded
  • Industry Report - Industry SWOT Analysis Chapter

    The Dredging Services industry is in the mature phase of its life cycle. Regardless of economic conditions or federal funding, ports, harbors and waterways all hold a strong underlying demand for maintenance dredging services. These services are a necessity to maintaining maritime trade and tourism in the United States, two vital sectors of the US economy. Over the 10 years to 2022, industry value added (IVA), which measures the industry's contribution to the overall economy, is expected to increase at an annualized rate of 4.1%. In comparison, US GDP is expected to grow an annualized 2.0% during the same period. IVA growth harmonized in line with the overall economy is highly indicative of a mature industry. Est...purchase to read more.

    Additional Insights for the Dredging Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Dredging Services Industry are

  • Having contacts within key markets
  • Having a good reputation
  • Ability to accommodate environmental requirements
  • IBISWorld analysts also discuss how external factors such as Demand from port and harbor operations and Federal funding for transportation in the Dredging Services industry impact industry performance..

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    What's in this report

    What is the Dredging Services Industry?

    This industry provides dredging services, such as moving deep-water sediment to keep waterways open for commerce and replenishing beaches and other maritime and wetland environments.

    Industry Products
  • Capital dredging
  • Maintenance
  • Coastal protection
  • Rivers and lakes
  • Industry Activities
  • Capital dredging
  • Maintenance dredging
  • Beach nourishment
  • Remediation dredging
  • Reclamation dredging
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from port and harbor operations
  • Federal funding for transportation
  • Total trade value
  • World price of crude oil

  • Current Performance
  • Pent-up demand
  • Environmental conservation
  • Chart: Revenue Growth

  • Industry Outlook
  • Infrastructure investments
  • Appropriation of funding
  • Upgrading the fleet
  • Table: Dredging Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Dredging Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Land Development
  • Homeowners' Associations

  • Key Selling Industries
  • Boat Building
  • Construction
  • Construction Machinery Manufacturing

  • Products & Services
  • Capital dredging
  • Coastal protection
  • Maintenance
  • Rivers and lakes
  • Chart: Dredging Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Public-sector projects
  • Private-sector projects
  • Chart: Major Market Segmentation for the Dredging Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Dredging Services

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Dredging Services Industry

  • Industry Globalization
    Great Lakes Dredge and Dock Company,
  • Table: Great Lakes Dredge and Dock Company - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Dredging Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Dredging Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Federal funding for transportation (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Bucket Dredger
  • Dredgers that use a series of buckets mounted to a wheel to collect sediment.
  • Cutter Suction Dredger
  • Dredgers used for hard surfaces (e.g. rock) that have a cutter head to help loosen earth and sediment before collecting it.
  • Dredger
  • A barge or other vessel designed for dredging bodies of water.
  • Hopper Dredger
  • Self-propelling vessels that hold dredged material on board in a storage hold known as a hopper, used mainly for harbor maintenance.
  • Suction Dredger
  • Stationary dredgers used to mine for sand.
  • What Our Customers Say

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    This report on Dredging Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Dredging Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Dredging Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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