Global Offshore Crane Market is expected to foresee significant growth. The Asia Pacific to lead the growth!
- Vikas Kumar
- September 24, 2022
- ENERGY & POWER, NEWS
- Offshore Crane Market forecast, Offshore Crane Market Growth, Offshore Crane Market News, Offshore Crane Market Share, Offshore Crane Market Size, Offshore Crane Market Trend
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The global Offshore Crane market is expected to grow at a CAGR of more than 8% during the period 2021-2027. An offshore crane is defined as a pedestal-mounted elevating and rotating lifting device used to transfer materials and personnel to or from marine vessels, barges, and structures. These offshore applications include bottom-supported, floating platform and ship-hulled vessels used in production and drilling operations, shipboard applications, and heavy-lift applications. Offshore crane demand is growing at a significant rate owing to the rising subsea construction & oil survey operations that are supporting the market development globally.
These subsea construction machines are mainly used owing to their great precision in heavy-duty operations like assembly, repair, & supply of oil & gas removal systems. In addition, the increasing demand for renewable energy is supporting offshore crane usage for the construction & manufacture of large wind turbines in an offshore situation is escalating the market size of the offshore crane market.
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Based on the type, the offshore crane market is segmented into knuckle boom, telescopic, lattice, and others. The knuckle boom segment caters significant share of the offshore crane market and is expected to witness influential growth in the forecasted period as well. It is mainly owing to their strength & flexibility as these cranes have more stability and are easy to operate which in turn is escalating its demand in industries.
Based on the lifting capacity, the offshore crane market is segmented into 0-500mt, 500-3000mt and Above 3000m. Offshore cranes with a lifting capacity of 2,000 – 5,000 mt are seeing high development to perform heavy-duty deployments like building wind parks or the assembly of oil rigs. The systems are mainly used in the oil & gas industry owing to their maximum safety & precise handling capabilities.
Based on the application, the offshore crane market is segmented into oil rig cranes, marine cranes, and others. Oil rigs cater significant share of the offshore crane market. It is mainly owing to worldwide growing offshore E&P activities that will increase the demand for oil rigs. Moreover, With the increase in oil rigs, the market for rig construction equipment and construction vessels will also increase which in turn, will propel the market for cranes on oil rigs.
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For a better understanding of the market adoption of the offshore crane, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada); Europe (Germany, UK, Spain, Italy, France, Rest of Europe); Asia Pacific (China, India, Australia, Japan, Rest of APAC); LAMEA (Mexico, Brazil, UAE, Saudi Arabia, and Rest of LAMEA). The Asia Pacific is expected to hold an extensive share in the offshore crane market and is expected to grow at an influential rate in the forecasted period as well. Factors such as increasing demand for oil & gas and offshore renewable energy, in the region, are expected to gain considerable momentum.
Some of the major players operating in HEILA Cranes S.p.a., Huisman Equipment B.V., Kenz Figee Group, Konecranes, Liebherr Group, Manitowoc Cranes, National Oilwell Varco, PLM Cranes B.V., Seatrax, Inc., Sormec.
Global Offshore Crane Market Segmentation
Market Insight, by Type
- Knuckle boom
Market Insight, by Lifting Capacity
- Above 3000m
Market Insight, by Application
- Oil rig crane
- Marine crane
Market Insight, by Region
- North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA
Top Company Profiles
• HEILA Cranes S.p.a.
• Huisman Equipment B.V.
• Kenz Figee Group
• Liebherr Group
• Manitowoc Cranes
• National Oilwell Varco
• PLM Cranes B.V.
• Seatrax, Inc.