Harbor Deepening Market Growth, Trends, Covid-19 Impact, and Forecasts (2022 - 2028)

The global harbor deepening market is expected to be valued at USD 5.2 billion in 2022, with a CAGR of 7.1% over the forecast period 2022-2028. Some of the key factors fueling the market growth include the necessity for the expansion and maintenance of existing harbors and the development of new ones, the growing focus of government authorities for international trade, the increasing importance of maritime transport, and the rising urban development of coastal protection activities. However, the presence of substitute products may hamper market growth. Also, market players continually concentrate on innovative or multi-featured solutions and high growth in emerging economies provides huge opportunities for the market.

Capital Deepening Providers segment accounted for higher revenue share:
Based on application, global harbor deepening market is segmented into capital deepening, trade maintenance, urban development and coastal protection. Capital Deepening segment market is expected to acquire significant CAGR and will dominate over the forecast period. Urban Development held considerable market share during estimated period.

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Europe leads the Global Harbor Deepening Market:
PBI's global harbor deepening market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, Europe accounted for significant revenue share in 2021 and the same trend is projected to follow over 2022-2028 due to existence of sufficient ports and harbors in the countries. Asia Pacific held considerable market share during estimated period owing to mobility in the emerging economies of the region, open trade barriers with other countries and development in economic reforms.

Strategic Acquisitions, Merger, Agreements, Collaborations and Partnerships are the key strategies adopted by market players:
Global harbor deepening market further reveals that the key player's increasingly adopting strategies such as strategic acquisitions, merger, agreements, collaborations and partnerships are the key strategies adopted by market players.

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Key player's profiles in the report are Boskalis, Van Oord, Jan De Nul Group, DEME, Hyundai Engineering & Construction, Penta Ocean Construction, China Harbor Engineering, Great Lakes Dredge & Dock and TOA Corporation.

Detailed Segmentation:
By Application
• Capital Deepening
• Trade Maintenance
• Urban Development
• Coastal Protection

By End User
• Government Organizations
• Private Organizations
• Mining & Energy Companies
• Oil & Gas Companies

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This release was published on openPR.