Dredging Equipment Market Size

Dredging Equipment Market Future Prospects

The global dredging equipment market will generate an estimated revenue of USD 5,092.9 million in 2024, which is expected to witness a CAGR of 6.0% during 2024–2030, to reach USD 7,236.4 million by 2030. The increasing maritime trade, infrastructure development, and environmental concerns drive the market’s growth.

Dredging is excavating and operating in shallow and seep water areas to gather the underwater sediments and dispose of them in a different location with the help of special floating facilities known as dredgers. The main purposes for using dredging equipment include increasing navigation channels, land reclamation, natural resource excavation, and flood control.

Dredging equipment is used to maintain ports and ensure smooth and safe international trade through waterways worldwide. According to Eurostat, sea transportation dominates the trade, accounting for 46% of the goods traded between Europe and the rest of the world in 2022.