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    Harbor Deepening Market Report

    Harbor Deepening Market Report
    Report code - SRCE281 Delivery - 2 Weeks
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    Global Harbor Deepening Market, Trends, Dynamics, Market Analysis
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    Impact of COVID-19 on Harbor Deepening Market

    Covid-19 has impacted the market dynamics, competition, and global...

    See more...

    Impact of COVID-19 on Harbor Deepening Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Global Harbor Deepening Market is estimated to grow from USD 4.8 billion in 2020 to USD 5.7 billion by 2026 at a healthy CAGR of 2.9% during the forecast period.

    Figure: Global Harbor Deepening Market Size, 2020-2026 (USD Billion)

    Harbor-Deepening-Market-Forecast

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    What is Harbor deepening Market?

    Harbor is a part or body of water that is connected with shore and has coastal attributes to offer protection from tired, winds, currents, also to provide shelter to travellers and refugees. Harbor deepening is a service required for digging activities, primarily in harbors and ports for different purposes. Harbor deepening finds usage in trade maintenance, coastal protection, capital deepening, and urban development.

    Key Players

    Key players operating in the global hair growth vitamins market are –

    • Royal Boskalis Westminster (Netherlands),
    • Van Oord Dredging & Marine Contractors (Netherlands),
    • Jan De Nul, DEME (Luxembourg),
    • Hyundai E&C Ltd. (South Korea),
    • Penta Ocean Construction Ltd. (Japan),
    • China Harbor Engineering Company (China),
    • Great Lakes Dredge & Dock Corporation (The U.S.),
    • Toa Corporation (Japan),
    • Adani Ports and Special Economic Zone, Ltd. (India),
    • American Underwater Services, Inc. (The U.S.),
    • Beckett Rankine (UK),
    • BuildChester, Ltd. (Nigeria), and
    • Dredging Corporation of India, Ltd. (India).

    Market Dynamics

    Around 85% of the global trade is carried out through sea trade, thorough maintenance of existing pathways and creating new ones is vital to sustain trading activities.

    Substantial growth in infrastructure activities has made necessitated the importance for maintenance and expansion of existing harbor and the development of new ones. Thus, significant sea trade promulgates the demand for harbor deepening. Moreover, the increasing population drives the need for huge cargo, further influencing the market growth. However, stringent environmental regulation of mega harbor deepening projects is a restraining factor.

    Market Segmentation

    Type Trends

    Based on type, the harbor deepening market is bifurcated into underwater deepening and partially underwater deepening.

    • The underwater deepening segment accounted a significant market share in 2020 owing to its high preference to fracture the underwater rock for removal.
    • Underwater deepening can effectively fragment the rock to allow for it to be dredged. It is also used for excavation of trenched for installing communication cables and oil and gas pipelines.

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    Regional Trends

    By region, North America witnessed the largest market share in 2020 and is expected to grow at a steady CAGR in the following years.

    • This is mainly attributed to the rising dependency on sea-borne trade in the region.
    • The significant expansion of the Panama Canal has made it possible for ships with large TEUs to pass through.
    • Due to the Panama expansion, the average size of container vessels has witnessed a surge, necessitating maintenance work in ports that cannot accommodate these big ships.

    COVID-19 Impact on Global Harbor Deepening Market

    The COVID-19 outbreak has plunged the global maritime trade by around 4% in 2020.

    The pandemic has launched a brunt for the shipping and maritime sector not just in Chinese ports but also the ports across the globe. All the sea-borne trade, including the major import and export trade is in the face of downfall. The shipping industry is likely to grow at a slower pace after gaining normalcy.

    Critical Questions Answered in the Report

    • What are the key trends in the global harbor deepening market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
    • What is the impact of COVID-19 on global harbor deepening market?
    • What are the key strategies adopted by the major vendors to lead in the global harbor deepening market?
    • What is the market share of the top vendors?

    Target Audience

    Here is the list of the group of customers that the Harbor deepening market hopes to have the greatest opportunity to convert-

    • Harbor deepening vendors
    • Harbor deepening retailers
    • Shipping companies
    • Maritime industry companies
    • Ship maintenance companies
    • International trade organizations

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].

    Frequently Asked Questions (FAQs)

    The harbor deepening market is expected to reach USD 5.7 billion during the foreseeable future.

    The harbor deepening market is expected to grow at a CAGR of 2.9% in the coming years.

    Royal Boskalis Westminster (Netherlands), Van Oord Dredging & Marine Contractors (Netherlands), Jan De Nul, DEME (Luxembourg), Hyundai E&C Ltd. (South Korea), Penta Ocean Construction Ltd. (Japan), China Harbor Engineering Company (China), Great Lakes Dredge & Dock Corporation (The U.S.), Toa Corporation (Japan), Adani Ports and Special Economic Zone, Ltd. (India), American Underwater Services, Inc. (The U.S.), Beckett Rankine (UK), BuildChester, Ltd. (Nigeria), and Dredging Corporation of India, Ltd. (India) are among the key players in the Harbor Deepening Market.

    Harbor deepening vendors, Harbor deepening retailers, Shipping companies, Maritime industry companies, Ship maintenance companies, International trade organizations are the target audience in the harbor deepening market.

    North America witnessed the largest share of the harbor deepening market in 2020.

    •