The global marine trenchers market is estimated to exceed US$ 125 Mn by 2022, expanding at a CAGR of 5.2% during the forecast period 2022-2032. The demand for marine trenchers is expected total US$ 250 Mn by the end of 2032. Increasing marine exploration activities and rising marine telecommunication infrastructure and network setups is anticipated to bolster the sales of marine trenchers in the market.
| Report Attribute | Details |
| Marine Trenchers Market Base Year Value (2021) | US$ 110 Million |
| Marine Trenchers Market Expected Value (2022) | US$ 125 Million |
| Marine Trenchers Market Anticipated Value (2032) | US$ 250 Million |
| Marine Trenchers Market Projected Growth Rate (2022-2032) | 5.2% CAGR |
A trench is a type of excavation or depression on the subsea terrain or surface of the earth. Trenchers are construction equipments that are used to dig trenches, especially for applications such as installing water or other fluid pipelines, laying electric cables, and others. In the marine industry, different types of waterproof trenchers are used for various applications known as marine trenchers.
Marine trenchers are used to digging a trench under the sea for laying underwater pipes and cables. These marine equipment work commonly on two types of technologies including - jet trenching and mechanical trenching. With increasing marine construction activities, leading players are increasingly emphasizing on launches novel application-specific marine trenchers such as cable ploughs, pipeline ploughs, and rock trenchers. This is expected to drive the demand for marine trenchers in the global market.
In addition to this, increasing introduction of novel marine trenchers with integrated innovative technologies such as telematics and advanced operating systems allowing the operator to operate the trencher from above the water surface is expected to bolster the sales in the market over the forthcoming years.
Marine trenchers are increasingly gaining popularity across the marine industries far various ploughing, construction, digging, and trenching applications. Increasing number of underwater construction projects across the countries such as the U.S., GCC countries, India, Japan, Australia, and others is propelling the demand for marine trenchers in the market.
As the trend of industrialization and automation continues to create deeper inroads across the diverse manufacturing industries, a swift rise in demand for power and electricity generation is being witnessed across the world. In addition to this, rising prices of petroleum products and growing concerns regarding environmental sustainability are shifting focus towards production of green energy using renewable sources such as wind, water, and solar.
Hence, industry players in across various countries are emphasizing on the development of offshore infrastructures for utilizing wind energy for production of renewable power. For instance, according to a report by the India Brand Equity Foundation, the National Thermal Power Corporation (NTPC) Limited and ONGC have announced their plan to expand the development of offshore wind energy infrastructure to accelerate the production of renewable energy from the sea in India.
As marine trenchers are used to digging the trenches and streamlining grounds of sea surfaces for the construction of a base for offshore wind energy plants, such developments are estimated to create lucrative growth opportunities in the market.
Due to rising concerns pertaining to marine life and growing awareness regarding advert effects of offshore oil & gas exploration activities on sea, regulatory bodies worldwide, such as the Bureau of Ocean Energy Management, are implementing stringent regulations regarding offshore exploration activities. This is one of the primary factors hindering the sales of marine trenchers in the market.
Also, extravagant initial cost of marine trenchers and high component replacement rate & maintenance cost as these equipments work under highly corrosive environment is restraining the growth in the market.
As per FMI, North America is projected to emerge as the most lucrative market for marine trenchers over the forecast period 2022-2032.
With increasing sales of electric vehicles and rapidly expanding industrial sector, governments across countries such as the U.S. and Canada are increasingly aiming at expanding their offshore wind power production capacity to cater to the increasing power demand.
For instance, according to a study by the International Renewable Energy Agency, the U.S. has announced its plan to expand the nation’s offshore wind energy production capacity to 30 GM in comparison to the 16.91 GW registered in 2020. A slew of such initiatives is estimated to augment the sales of marine trenchers in the North America market.
Future Market Insights states that Asia Pacific excluding Japan is expected to exhibit robust growth in the global marine trenchers market from 2022 to 2032.
Governments in several countries are increasingly emphasizing on expanding their mining capacity and rising the extraction of rare marine minerals. For instance, the Indian Government has announced allocating US$ 25 Mn for its new Samudrayaan Mission for exploration of rare minerals and studying marine grounds.
Marine trenchers are extensively used for offshore mining activities for extraction of minerals from sea beds and exploration activities. Hence, increasing number of such missions and expanding offshore mining sector across the countries such as Australia, South Korea, and others are forecast to propel the demand in the Asia Pacific excluding Japan market.
Some of the leading players in the marine trenchers market are Seatools B.V., Barth Hollanddrain, Global Marine, DeepOcean, Soil Machine Dynamics (SMD), Global Marine, Seatools, MIAH, Van Oord, Jan de Nul, Royal IHC, Osbit, Saipem Sonsub, Modus Ltd., SEA S.R.L., and others.
Prominent player are aiming at adoption expansion strategies such as new product launch, agreement, collaboration, and acquisition to strengthen their footprint in this highly competitive market.
| Report Attribute | Details |
| Growth Rate | CAGR of 5.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Countries Covered |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
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FMI projects the global marine trenchers market to expand at 5.2 % value CAGR by 2032
The market for marine trenchers is dominated by North America, and this trend is projected to continue in the foreseeable future
Seatools B.V., Barth Hollanddrain, Global Marine, DeepOcean, Soil Machine Dynamics (SMD), Global Marine, Seatools, MIAH, Van Oord, Jan de Nul, Royal IHC, Osbit, Saipem Sonsub, Modus Ltd., SEA S.R.L., and others are some prominent marine trenchers manufacturers
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