$4.6bn
$XXX.Xm
9,664
1,072
$XXX.Xm
Funds made available through various federal agencies have promoted growth for dredging companies. The pandemic outbreak negatively impacted dredging companies, as many had to halt operations because of outbreaks on vessels, making it challenging to satisfy the time constraints of contractual obligations. Federal funding for infrastructure projects has supported the industry, as dredging companies help maintain the expansive coastlines across the US. Revenue for dredging services is expected to climb at a CAGR of 0.8% to $4.6 billion through the end of 2024, including revenue growth of 1.6% in 2024. Profit has dipped recently as labor shortages pushed up wage costs and inflationary pressures increased operational costs.
Industry revenue has grown at a CAGR of 0.8 % over the past five years, to reach an estimated $4.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Great Lakes | 754.3 | 86.3 | 11.4 | |
Dredge America Inc. | 12.9 | 1.3 | 9.8 |
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Industry revenue is measured across several distinct product and services lines, including Capital dredging, Maintenance and Coastal protection. Capital dredging is the largest segment of the Dredging Services in the US.
Recent legislation will bolster coastal protection spending
This industry provides dredging services, such as moving deep-water sediment, to keep waterways open for commerce and replenish beaches and other maritime and wetland environments.
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NAICS 23799 - Dredging Services in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Increased federal funding promotes growth. The Bipartisan Infrastructure bill, the Disaster Relief Supplemental Appropriations Act and increased funds for the Harbor Maintena...
Learn about an industry's products and services, markets and trends in international trade.
The Bipartisan Infrastructure Bill bolsters federal spending. It will dedicate $17.0 billion to improving US port infrastructure and waterways, providing a consistent source ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The Southeast houses most dredging companies. Major commercial ports on the Gulf Coast and beaches attract dredging companies to the Southeast.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Companies compete based on price and capabilities. Companies with the necessary equipment and experience to promptly and cost-effectively complete projects win contracts.
Learn about the performance of the top companies in the industry.
Just one company has amassed more than 5.0% of the market. Great Lakes Dredging has accumulated a significant market share by providing various services to federal, state, lo...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Recent federal assistance will bolster growth. The Bipartisan Infrastructure bill will provide billions to restore US port infrastructure and waterways.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit falls as inflation rises. Fixed-contract prices were higher than expected because rising fuel and steel prices boosted operating costs.
Including values and annual change:
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Key data sources in the US include:
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The market size of the Dredging Services in the US industry in United States is $4.6bn in 2024.
There are 1,072 businesses in the Dredging Services in the US industry in United States, which has grown at a CAGR of 0.5 % between 2019 and 2024.
The market size of the Dredging Services in the US industry in United States has been growing at a CAGR of 0.8 % between 2019 and 2024.
Over the next five years, the Dredging Services in the US industry in United States is expected to grow.
The biggest companies operating in the Dredging Services market in United States are Great Lakes and Dredge America Inc.
Capital dredging and Maintenance dredging are part of the Dredging Services in the US industry.
The company holding the most market share in United States is Great Lakes.
The level of competition is moderate and increasing in the Dredging Services in the US industry in United States.