Dublin, June 24, 2024 (GLOBE NEWSWIRE) — The “United States Excavator Market by Region, Competition, Forecast and Opportunities, 2019-2029F” report has been added to ResearchAndMarkets.com’s The offer of
The United States excavation market has experienced a remarkable growth phase, with forecasts showing that the trend will continue until 2029.
Driven by a number of drivers, including significant infrastructure development, coastal protection initiatives and increasing trade volumes, the market is set to maintain a steady compound annual growth rate (CAGR) of 2.7%. This expansion is a testament to the critical role of the dredging sector in facilitating maritime trade and strengthening protection against climate change.
The crucial role of scour in coastal resilience
Dredging has become essential in efforts to protect the US coast from the ever-increasing threats posed by climate change. It plays a central role in maintaining navigable waterways, building and strengthening coastal defences, and against erosion and siltation. With coastal communities facing more frequent and intense weather events, demand for resiliency-focused excavation services is on the rise, further accelerating market growth.
Economic and environmental factors driving demand
Economic strength and increased environmental awareness continue to drive demand within the excavation market. Technological advances in dredging equipment are facilitating more efficient and sustainable operations, aligning with the industry’s move towards minimizing the environmental footprint. Additionally, the dredging sector is important in meeting the demands of an expanding economy and a growing population, enabling larger ships to navigate the waterways and increasing trade efficiency.
Facing industry challenges head on
Despite its growth, the United States excavation market faces challenges, including regulatory complexity and ensuring environmental compliance.
Additionally, project financing constraints and seamless integration of technological advancements pose obstacles to market players. However, the industry is addressing these challenges through strategic collaborations, adoption of cutting-edge technologies and innovative operational practices.
Leadership in Excavating Innovation
The United States continues to set the benchmark in dredging excellence, with market leaders such as Great Lakes Dredge & Dock Corporation and Weeks Marine Inc. innovation driver.
These key players, along with others such as Cashman Dredging and Marine Contracting, and Manson Construction, are poised to seize opportunities arising from the industry’s growth trajectory. Their collective efforts play an important role in advancing the nation’s maritime infrastructure capabilities.
The United States excavation market remains at the forefront of supporting critical infrastructure and environmental sustainability amid a dynamic economic landscape and evolving climate conditions. With a stable growth outlook and resilient market players ready to address emerging challenges, the sector is well positioned to continue its upward trajectory over the next few years.
Main attributes:
| The report attribute | The details |
| No. of Pages | 83 |
| Forecast period | 2023 – 2029 |
| Estimated market value (USD) in 2023 | 5.2 billion dollars |
| Estimated market value (USD) by 2029 | 6.16 billion dollars |
| Compound Annual Growth Rate | 2.7% |
| Regions covered | United States |
Scope of report:
In this report, the United States Excavation Market is segmented into the following categories:
United States Excavator Market, by Type:
- Dipper
- Water injection
- Pneumatic
- Bed leveler
- Others
United States Excavator Market, By Customer:
- government
- O&G companies
- Mining Companies
- renewable resources
- Others
United States Excavator Market, by Application:
- Commercial Activity
- Trade Maintenance
- Energy Infrastructure
- Urban Development
- Coastal Defense
- Free time
United States Excavator Market, by Region:
- South of the USA
- Midwest USA
- Northeast USA
- Western USA
Company coverage:
- Great Lakes Dredge & Dock Corporation
- Weeks Marine Inc.
- Cashman Dredging and Marine Contracting Co.
- Manson Construction Co.
- Marinex Construction Inc.
- Cavache Inc.
- Mike Hooks
- The energy of the great river
For more information about this report, visit https://www.researchandmarkets.com/r/5n1ng2
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, leading companies, new products and the latest trends.
#United #States #Dredge #Market #10Year #Forecast #Report #Great #Lakes #Dredge #Dock #Weeks #Marine #Manson #Construction #Marinex #Construction #Cavache #Mike #Hooks #Great #River #Energy
Image Source : www.globenewswire.com