The US dredging market is estimated to grow at a CAGR of nearly 2.0% during the forecast period. Rising investment in port infrastructure and increasing minerals production are some pivotal factors contributing to the growth of the market. As per the US Geological Survey (USGS), in 2019, the US mines produced nearly $86.3 billion in minerals, more than $2 billion higher compared to revised 2018 production totals. In 2019, the estimated total value of non-fuel mineral production in the US was $86.3 billion, a rise of 3% from 2018.

The increasing minerals production has emerged the demand for mineral dredging for extraction of minerals that may have a significant economic value from underwater deposits. Extraction of mineral materials from the seabed comprise aluminum (bauxite), mineral sands (ilmenite, rutile, zircon), gold, tin (cassiterite), rocks salts, and diamond deposits. Additionally, it comprises more standard material that covers sand and gravel, are used as aggregates in the construction industry. Seabed dredged aggregates are an emerging alternative to land-based sources, including quarries. This, in, turn, is contributing to the increasing seabed dredging in the country.

The US dredging industry is highly fragmented that consists of nearly 250 entities currently operating over 850 dredges, mainly in dredging maintenance. A large number of these dredges are smaller and provide service to the inland, rather than waterways and coastal.  Key players in the market include Great Lakes Dredge & Dock Co., LLC, Callan Marine, Ltd., Coastal Dredging Co., Inc., and Norfolk Dredging Co. These players are gaining significance in the government contracts for dredging. For instance, in April 2020, USACE provided a construction contract valued $97.9 million to Callan Marine, Ltd. This is intended to finish the second phase of the four-phase Corpus Christi Ship Channel Improvement Project. It enhances the channel depth from -47 feet Mean Lower Low Water (MLLW) to -54 ft MLLW and broadens the channel to 530 feet with an additional 400 feet of barge shelves.

Research Methodology

The market study of the US dredging 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:

• US Dredging Market Research and Analysis, By Type
• US Dredging Market Research and Analysis, By End-User

The Report covers:

• Comprehensive research methodology of the US dredging 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 US dredging market.
• Insights about market determinants which are stimulating the US dredging market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of market players.