China dredging market is estimated to grow at a CAGR of nearly 2.6% during the forecast period. Rising investment in port infrastructure and significant existence of rivers are primarily contributing to the emerging dredging contracts in the country. In 2013, China’s Belt and Road Initiative (BRI) introduced, which is a major port infrastructure project in the country. Under the initiative, China is spending close to $1 trillion to connect trade hubs and ports from the Pacific to Northern Europe. With the growing exports to other countries, China is significantly focusing on improving port infrastructure, which leads to an increasing dredging activity in the country.
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China Communications Construction Co. Ltd. (CCCC) is the major players with significant dredging contracts within and outside the country. CCCC received multiple contracts from domestic as well as international markets. In 2019, the number of new dredging projects by CCCC was 764. In addition, there is an existence of thousands of rivers in the country and due to the natural geographic conditions, soil erosion into rivers is a major problem. There is a high content of sand in soil and river sediment in lakes and rivers. The serious water and soil loss result in a decline in the performance of flood discharge systems. Hence, continuous and large-scale dredging is required to prevent flooding, which, in turn, is further contributing to the market growth.
Some key players in the market include CCCC, Cosco Shipping Lines Co., Ltd., Shanghai Zhenhua Heavy Industries Co., Ltd., and Jiangsu Haixin Shipping Heavy Industry Co., Ltd. In June 2019, CHEC, a subsidiary of CCCC in partnership with the Ukrainian Sea Ports Authority, has finished the dredging project at the Chernomorsk seaport. The project is aimed at enhancing the competitiveness of Ukraine’s port's in the Black Sea. Additionally, in August 2019, COSCO SHIPPING Tianjin proposed to acquire 10% interest in CCCC. The cooperation with CCCC Dredging Group may provide growth potential and stable net profits for COSCO SHIPPING.
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China Dredging Market Segmentation
By Type
- Mechanical Dredger
- Bucket Dredger
- Grab Dredger
- Backhoe Dredger
- Hydraulic Dredger
- Suction
- Cutter Suction Dredger
- Trailing Suction Hopper Dredger
- Barge Unloading Dredger
By End-User
- Government
- Oil and Gas Companies
- Mining Companies
- Others (Renewable Energy)
Company Profiles
- China Communications Construction Co., Ltd. (CCCC)
- Cosco Shipping Lines Co., Ltd.
- Jiangsu Haixin Shipping Heavy Industry Co., Ltd.
- Jiangsu Hansel Marine Equipment Co., Ltd.
- Qingzhou City Dingke Machinery Equipment Co., Ltd.
- Qingzhou Julong Environment Technology Co., Ltd.
- Qingzhou Yongli Mining and Dredging Machinery Co. Ltd.
- Shandong Haohai Dredging Equipment Co., Ltd.
- Shanghai Zhenhua Heavy Industries Co., Ltd.
- Weifang Zhengbang Heavy Industry Machinery Co., Ltd.
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