The latest market report published by Credence Research, Inc. is “Global Dredge Pumps Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Dredge Pumps Market generated revenue of around USD 1463.9 million in 2021 and is anticipated to grow a CAGR of over 3.7% during the forecast period from 2022 to 2028 to reach around USD 1820.47 million in 2028.
A dredge pump is a centrifugal pump with chrome carbide or manganese steel liners. It is primarily composed of a pump casing and an impeller. Dredge pumps are centrifugal pumps that are used in the dredging system. Dredging is moving underwater sediments from one location to another, including gravel, rocks, sand, stones, debris, mud, and fines. Dredge pumps are high-pressure pumps powered by an electric or hydraulic motor. They absorb underground sentiments by pushing substances through a hose or header box. These pumps are used for various tasks, including the placement of floating objects, the removal of floating water, the supply of water, and the removal of solids. Dredge pumps are used for cost-effective dredging in all water depth conditions. Dredge pumps are simple to use and available in single and double-walled versions. They can withstand intense pressure and can be used in simple and complex systems across various industries. Increased urbanization, industrialization, and agricultural production activities in developing and developed nations are anticipated to propel the dredge pump market throughout the forecast period. High costs, worker safety issues, and noise pollution are drawbacks of dredging pump equipment.
The global dredge pump market is bifurcated into Types, Applications, and Geography. Based on the types, the global market is divided into horizontal dredge pumps, vertical dredge pumps, and submersible dredge pumps. Based on the applications, the global market is segmented into mining & mineral, construction, metallurgy & chemical industry, pulp & paper, and power generation. The market is categorized geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Asia Pacific dominated the global dredge pump market in 2021. Rising industrialization, combined with significant investment in infrastructure activities, bodes well for the Asia Pacific submersible dredge pumps market. The demand for dredge pumps in the industrial and agricultural sectors has been particularly high in regional developing nations like Australia, India, China, and others.
The major players include Damen Shipyards Group, EDDY Pump Corporation, Dragflow S.r.l., Warman International Ltd., Metso Corporation, Tsurumi Manufacturing Co., Ltd., Weir Minerals Europe Limited and KSB SE & Co. KGaA. These companies have been analyzed based on various parameters such as financial performance, geographical presence, product innovation and development capabilities. In addition to this, the report also highlights recent developments such as mergers & acquisitions and partnerships among these players to gain a competitive edge over others in the market.
The regional analysis of the dredge pumps market reveals the following trends:
- North America: North America is expected to dominate the dredge pumps market due to significant investments in infrastructure development, coastal and river maintenance projects, and the presence of a well-established dredging industry. The region’s extensive coastline and inland waterways create a strong demand for dredge pumps for various applications, including navigation, land reclamation, and flood control.
- Europe: Europe is likely to be a significant market for dredge pumps, driven by the region’s extensive network of waterways, ports, and coastal areas. The market is fueled by ongoing dredging projects for maintaining navigation channels, expanding port capacities, and protecting coastlines. Additionally, stringent environmental regulations in Europe often require the use of efficient and eco-friendly dredging equipment, including advanced dredge pumps.
- Asia Pacific: The Asia Pacific region is anticipated to experience substantial growth in the dredge pumps market. Rapid urbanization, industrialization, and infrastructure development projects in countries like China, India, and Southeast Asian nations drive the demand for dredge pumps. The region’s vast coastline, expansion of ports, and increasing investments in river dredging contribute to market growth.
- Latin America: Latin America is expected to witness moderate growth in the dredge pumps market. The region’s expanding mining industry, infrastructure development projects, and coastal protection initiatives drive the demand for dredging equipment, including pumps. Major economies like Brazil and Chile present significant opportunities for the market due to their extensive coastlines and ongoing dredging projects.
- Middle East and Africa: The Middle East and Africa region is likely to show gradual growth in the dredge pumps market. The region’s infrastructure development, offshore oil and gas exploration activities, and coastal protection projects contribute to the demand for dredging equipment, including pumps. Countries like the United Arab Emirates and Saudi Arabia offer potential market opportunities due to their large-scale construction projects and coastal developments.
Why to Buy This Report –
- The report examines the global dredge pump industry by segment, drivers, restraints, opportunities, current trends, insights, challenges, and market dynamics from 2016 to 2020, with 2021 serving as the base year and 2022–2028 as the projection period.
- The market’s competitive landscape is discussed in the report, along with the strategies used by the market’s leading players on a local, regional, and global scale.
- In-depth analysis of the global dredge pumps market segmentation by types and applications.
- The report provides comprehensive and reliable information on every aspect, including CAGR, consumer spending patterns, supply and demand, and import/export statistics for the principal regional nations.
- The market report for dredge pumps includes industry analysis at the global, regional, and national levels and information on important market trends, competitive landscapes, and expansion plans.
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