DUBLIN, December 23, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/4zc322/offshore_crane) has announced the addition of the "Offshore Crane Market - Global Forecast to 2020" report to their offering.
The global offshore crane market is projected to reach USD 21.64 Billion by 2020 from an estimated USD 14.19 Billion in 2015. The worldwide growing offshore E&P activities will increase the demand for oil rigs. With increase in oil rigs, the market for rig construction equipment and construction vessels will also increase. This in turn, will propel the market for cranes on oil rig. These factors expected to drive the growth of the offshore crane market.
Increasing oil discoveries in emerging economies such as Asia and Africa are major drivers for this market. The growth in emerging economies is attributed to increasing capital expenditures in the countries such as China, India, Nigeria, Angola, Ghana, and Equatorial Guinea. Kenya, Tanzania, and Mozambique also provide exciting market opportunities for oil operators in the near future. Increasing deep water drilling activities all around the globe is another major driver for the offshore crane market.
The Asia-Pacific region dominates the offshore crane market and is estimated to grow at a good pace in the next five years. The growth is attributed to the increase in offshore E&P activities in China, Malaysia, Australia, and Thailand.
The American offshore crane market rated second after Asia-Pacific. This market is projected to grow at a highest growth rate. The growth is attributed to the increase in the offshore vessel demand in offshore regions of the U.S., Gulf of Mexico, and Brazil. Secondly, liberalization of Mexican oil & gas industry is another key driver fueling the demand for the offshore crane market.
The offshore crane market in Europe is driven by the increase in the offshore wind power generation. High capacity tower cranes are required to install wind turbines. With the increase in offshore wind power generation capacity, the market for offshore cranes will also increase.
Reasons to buy the report:
- The report identifies and addresses key markets for offshore cranes, which is useful for suppliers and OEMs to review production and distribution plans.
- The report includes analysis for key countries by application, design type, and lifting capacity. It analyses historical trends and also forecast the market for 2020, assisting in strategic decision making.
- It also presents competition by analyzing recent market developments such as key contract & agreements, expansions, and new product launches from the key global market players. It helps to understand the competition strategies and plan respective initiatives.
- National Oilwell Varco
- Terex Corporation
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Industry Trends
6 Market Overview
7 Offshore Crane Market, By Application
8 Offshore Crane Market, By Lifting Capacity
9 Offshore Crane Market, By Design Type
10 Offshore Crane Market, By Region
11 Competitive Landscape
12 Company Profiles
For more information visit http://www.researchandmarkets.com/research/4zc322/offshore_crane
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SOURCE Research and Markets