The dredging industry is in the middle of a significant growth period. Dredge sales are on the rise throughout the world. Likewise, they've also grown significantly within the United States. For those who haven't been keeping close tabs on the industry, the recent trends may come as a bit of a surprise. They may also hint at intriguing possibilities for future use. Here are a few key driving factors behind the dredging industry's growth.

Demand for Dredging Has Long Been High

Industries providing certain products and services experience significant growth periods when their offerings are in high demand. We're seeing that now with dredging services. That said, dredging services have been in high demand for quite a long time. The need for excavation services to maintain navigation channels, clear land, and fix waterways has long been a pressing concern for many countries and industries. It's not that demand has spiked out of nowhere recently. The more accurate read is that the industry sales are only now catching up to the outstanding demand.

The Seaborne Trade Industry Is Growing

While it's far from a new method of trade, the seaborne industry is becoming busier and busier by the day. With more ships now in operation than ever, moving massive quantities of goods by sea has become a more efficient proposition for many companies. As you might imagine, improvements in the seaborne trade bode well for the growth of the dredging industry. Since more companies are relying on seaborne trade to conduct their business, the harbors and navigation channels must be capable of accommodating all that traffic. More upgrades for harbors and navigation channels will be sought in the future. Dredge sales will likely go up significantly because of that.

The Dredging Industry Is Receiving More Funding

Ample funding is critical to the growth of any industry. According to IBISWorld, more funding from the Harbor Maintenance Trust Fund is set to be allocated to dredging services in the coming years. Thanks to these recent developments, it looks like the dredging industry will have no shortage of funding for now. A continuous source of funding will help stabilize a rapidly expanding industry. Fortunately, the U.S. isn't the only country expected to make a significant investment in dredging. The dredging industry is expected to garner greater investments from nations around the world because the viability of seaborne trade cannot be ignored.

The Dredging Industry Expands Regularly

You should know that these positive developments concerning dredge sales and the industry as a whole are not completely new. According to Dredging Today, the American dredging industry was already in the middle of a $1.5 billion fleet expansion back in 2019 alone. Even the pandemic was not enough to derail that growth. What we're seeing now is the continuation of that expansion. More countries and companies are investing heavily in the dredging industry, and that's not likely to change anytime soon. Expect to see more expansion for the industry in the years and decades to come.

The Need for Renewable Energy Infrastructure Is Increasing

Of course, it's important to note that dredge sales have increased for many more reasons than just trade. There are other sectors with a vested interest in the continued development of this particular industry. The energy industry is one of them. The growth of renewable energy companies will depend in large part on the infrastructure set in place to support them. Dredging will pave the way for those essential structures. Partnerships between renewable energy and dredging companies are likely to become more common in the years ahead.

Dredging Protects Marine Wildlife

Lastly, dredge sales are rising because they're key to preserving marine wildlife. When waterways and harbors are poorly maintained, the marine wildlife inhabiting those areas is more vulnerable to pollution and other environmental threats. Toxic discharge from passing ships could poison fish, and soil erosion beneath the surface could destroy their natural habitats. Dredging can prevent all of these things from taking place. When waterways and harbors are maintained properly, they remain safe for ships as well as the surrounding marine life. In that sense, the companies involved in dredging can create a better ecosystem for all parties concerned.

Dredge sales are on the rise, and they're highly likely to stay that way for a while. Do you have any more questions about the dredging industry? We've got over a decade of experience helping clients just like you. Contact us today at United Dredging to learn more about our services!