North America dredging hose market is estimated to grow at a CAGR of nearly 3.1% during the forecast period. North America has witnessed significant growth in the market owing to the rising number of dredging projects and the rising investment in maritime infrastructure. The US dredging industry is significantly focusing on setting up and maintaining safe, potential, and cost-effective navigation channels in the inland ports and waterways across the country. As a result, there is a rise in dredging contracts in the country. For instance, in June 2020, Great Lakes Dredge & Dock Corp. (GLDD), one of the major providers of dredging services in the US declared the implementation of a definitive contract to build a 6,500-cubic-yard-capacity trailing suction hopper dredge (TSHD) with Conrad Shipyard. 

The vessel will complement the existing six-dredge hopper fleet of the company, such as the ATB Tug Douglas B. Mackie and 15,000-cubic-yard-capacity barge Ellis Island, which was delivered in 2017. Further, increasing government financing for the US dredging projects are primarily escalating the growth of the market. The competition between the US ports and waterways and preparation for larger vessels contributes to the rise in projects and the need for funding in the US. For instance, in March 2019, Boston Harbor Dredging Project received $35 million in federal funding. This project is a $350 million collaboration between the Commonwealth of Massachusetts, Massachusetts Port Authority (Massport), and the USACE. The rising dredging projects are boosting the adoption of dredging hoses to transport the objects which have heavy specific gravity and large volumes, such as weathered rock, coral reef, and coarse sand.

Some prominent players in the market include Trelleborg AB, Royal Boskalis Westminster N.V., Townley Engineering & Manufacturing Co., Inc., Salem-Republic Rubber Co., and Parker-Hannifin Corp. The market players are adopting strategies including mergers and acquisitions, product launches, and partnerships and collaborations, to gain a competitive advantage. For instance, in March 2018, Parker Hannifin Corp. introduced its HCR subsea hydraulic hose. It is particularly designed to withstand the collapse forces found in deep-sea hydraulic applications, which includes BOP stacks, subsea hydraulics, well stimulation, and hydraulic flying leads. This will enhance the company’s position in the line of dredging hose industry of oil sector.

Research Methodology

The market study of the North America dredging hose market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog

The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. It will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

Market Segmentation:

• North America Dredging Hose Market Research and Analysis, By Type

The Report covers:

• Comprehensive research methodology of the North America dredging hose market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North America dredging hose market.
• Insights about market determinants which are stimulating the North America dredging hose market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of market players.