Home > Business > Rising Demand for Oil and Gas Exploration to Impact the Global Dredging Market Positively

Rising Demand for Oil and Gas Exploration to Impact the Global Dredging Market Positively

Added: (Mon Jan 14 2019)

Pressbox (Press Release) - A new report published by Transparency Market Research anticipates that rising demand for energy and gas exploration carried out primarily in remote areas will drive the global dredging market. Dredging is also being carried out on beaches to keep them in prime condition. Dredging is a capital intensive process. This is one of the major restraints of the dredging market. New technological advancements are emerging in order to lower manufacturing costs and increase the productivity of dredging, thereby showing lucrative opportunities for the global dredging market during the forecast period.

On the basis of region, the dredging market in Asia Pacific is expanding due to the rise in population. This has increased the need for oil exploration and telecommunication purposes from different sources beneath the water. It has also boosted the demand for subsea activities. Hotbeds regions of subsea activities in Asia Pacific are primarily located in Vietnam, Australia, China, Malaysia, and Indonesia.

The dredging market in North America has been expanding due to the increase in oil & gas activities in offshore regions. Demand for dredging market has been rising in countries such as France, Germany, and the U.K. in Europe owing to the rapid increase in marine activities. Demand for dredging is expected to increase in Latin America and Middle East & Africa in the near future.

Prominent players operating in the Dredging market are included in this report to give a better competitive landscape of the global dredging market and these are China Harbour Engineering Company, Van Oord, and Deme Group, Jan De Nul, Royal Boskalis Westminister, Great Lakes Dredge and Dock Corp, Weeks Marine Inc., Hyundai Engineering and Construction Co. Ltd.

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Submitted by:Vasim Shikalgar
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