Global Offshore Crane Market to Grow at a CAGR Of 8.8% During the Period 2018-2023 | Ozone Market Reports

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Ozone Market Reports projects that the Offshore Crane market size will grow from USD 16.94 Billion in 2017 to USD 28.10 Billion by 2023, at an estimated CAGR of 8.8%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.

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.

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By Market Players:
Cargotec , Konecranes , Liebherr , Manitowoc , TEREX Corporation , Huisman , Kenz Figee , National Oilwell Varco , Palfinger , Zoomlion , , , , , , , , , ,

By Application:
Oil Rig Cranes , Marine Cranes , Others Cranes, ,

By Lifting Capacity:

0-500mt, 500-3,000mt, Above 3,000mt, ,

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By Design Type:
Knuckle, Telescopic, Lattice, Others,

The prime objective of this report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing. Deep researches and analysis were done during the preparation of the report. The readers will find this report very helpful in understanding the market in depth. The data and the information regarding the market are taken from reliable sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the industry experts. The facts and data are represented in the report using diagrams, graphs, pie charts, and other pictorial representations. This enhances the visual representation and also helps in understanding the facts much better.

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