Harbor Deepening Market: Global Industry Growth, Market Share and Forecast 2019-2025

A significant trend towards the maintenance and expansion of ports across the globe has been reported coupled with the emerging focus on international trade, which in turn, is driving the global harbor deepening market. Waterborne transport has been proven to be more environmentally friendly than any other transport mode. Without dredging activities, waterborne transportation, jumbo cargo ships, supertankers, and cruise ships would be impossible. Therefore, several government projects for the capacity expansion of ports have been witnessed to facilitate smooth trading operations. For instance, in April 2019, DEME received a contract to conduct the Elbe fairway deepening in Germany. The contract ensures the technological expertise of DEME in marine engineering and complex dredging projects. This capital dredging contract has an estimated value of $262 million. It is a complex environmental and marine engineering project to comply as per the stringent environmental needs at all times during its execution.

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Under the contract, DEME will deploy its most advanced backhoe dredgers, spreader pontoons, and trailing suction hopper dredgers, for the dredging, transportation, and relocation of nearly 32 Mio m3 of material. Since 2004, hopper dredger of DEME was frequently deployed on the River Elbe to maintain the fairway through Cuxhaven to Hamburg. Additionally, the company has completed deepening works on the River Seine in France and the transformation of the ?winouj?cie – Szczecin fairway in Poland. Further, in June 2019, China Harbor Engineering Company, Ltd. (CHEC), in partnership with the Ukrainian Sea Ports Authority, has finished the dredging project at the Chernomorsk seaport. The project is aimed at enhancing the competitiveness of Ukraine’s port's in the Black Sea. These kinds of dredging projects are exploring an opportunity for the significant investment in ports infrastructure in the region, which in turn, will drive the European harbor deepening market.

As per the European Sea Ports Organization, European ports have a sound investment capacity, the nature of port investments makes it often impossible for the port authority to realize the necessary investment without external financing. Investments in basic infrastructure, maritime access infrastructure, and transport-related infrastructure (transport connections to rail, road, inland waterways) make up 65% of all port projects submitted by port authorities. Port investment in the European Union (EU) will remain crucial in the future owing to the rapid development of the logistics industry and environmental requirements.

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Well-linked and modern ports enable to preserve and attract new industries and logistic activities, to connect with the different regions inside the internal market of the EU and encourage the transport greening. This role needs ports to conduct considerable investments, to maintain and enhance current infrastructure, to create new transport links and to improve the environmental sustainability of port operations. Likewise, the US, India, China, and other countries' governments have been relying on maritime transportation and therefore investing in the development and expansion of ports, which in turn, is contributing to the growth of the global harbor deepening market.

Global Harbor Deepening Market Segmentation
By Application
• Capital Dredging
• Trade Maintenance
• Coastal Protection
• Urban Development
By End-User
• Government Organizations
• Private Organizations
• Oil & Gas Companies
• Mining & Energy Companies

Global Harbor Deepening Market – Segment by Region
North America
• US
• Canada
Europe
• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Rest of the World

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This release was published on openPR.