Offshore Crane Market: Current Analysis and Forecast (2021-2027)

$3999$6999

Emphasis on Type (Knuckle Boom, Telescopic, Lattice, and Others); Lifting Capacity (0-500mt, 500-3000mt and Above 3000m); Application (Oil Rig Cranes, Marine Cranes, and Others); and Region/Country

Pages:

143

Table:

49

Figure:

95

Report ID:

UMEP211145

Geography:

Clear
  Get a Sample
SKU: UMEP211145 Categories: , Tag:
Report Description
Table of content
Research Methodology

Report Description

 

offshore crane market
offshore crane market

demand is growing at a significant rate and is expected to witness influential growth during the forecasted period as well. Factors such as the increase in oil rigs, and the market for rig construction equipment and construction vessels will also increase. Therefore, it will propel the market for cranes on oil rigs. These factors are expected to drive the growth of the offshore crane market. Also, increasing oil discoveries in emerging economies such as Asia and Africa are major drivers for this market.

The rising demand for the installation of windmills to produce renewable energy is growing at a rapid pace. There has been a rise in the setup of offshore windmills, requiring offshore cranes for the maintenance and operations of turbines. The offshore wind research department is being reinforced by various government bodies to generate more amount of renewable power.

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.

Insights Presented in the Report

“Based on type, knuckle boom segment accounted for the majority share in the market in 2020”

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.

“Amongst application, the oil rigs segment is expected to witness highest CAGR during the forecast period”

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

“Asia Pacific to witness significant growth during the forecast period”

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. In addition, increasing oil discoveries in the region coupled with 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 forecasted period.

Moreover, growing government & private sector expenditure on the manufacturing of new offshore wind farms for the generation of renewable energy in huge quantities will make a huge demand for offshore cranes with heavy lifting capacity in the region. For instance: the Australian government is scheduling to grow new offshore wind farms during the next few years, providing profitable opportunities for the global market outlook.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
  • The report presents a quick review of overall industry performance at one glance.
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
  • The study comprehensively covers the market across different segments.
  • Deep dive regional level analysis of the industry.


Customization Options:

Global Offshore crane market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

You can also purchase parts of this report. Do you want to check out a section wise
price list?

1.1.Market Definitions
1.2.Limitation 
1.3.Stake Holders
1.4.Currency used in Report
2.1.Research Process of the Offshore Crane Market
2.2.Research Methodology of the Offshore Crane Market
2.3.Forecasting Method  
2.4.Respondent Profile  
2.5.Main Objective of the Offshore Crane Market Study
3MARKET SYNOPSIS
4EXECUTIVE SUMMARY
5GLOBAL OFFSHORE CRANE MARKET COVID-19 IMPACT
6GLOBAL OFFSHORE CRANE MARKET REVENUE 2019-2027F
7.1.Knuckle boom
7.2.Telescopic
7.3.Lattice 
7.4.Others 
8.1.0-500mt 
8.2.500-3000mt
8.3.Above 3000m
9.1.Oil rig crane
9.2.Marine crane
9.3.Other  
10.1.North America 
 10.1.1.United States
 10.1.2.Canada
10.2.Europe  
 10.2.1.Germany
 10.2.2.France
 10.2.3.Spain
 10.2.4.Italy
 10.2.5.United Kingdom
 10.2.6.Rest of Europe
10.3.Asia Pacific 
 10.3.1.China
 10.3.2.India
 10.3.3.Australia
 10.3.4.Japan
 10.3.5.Rest of Asia Pacific
10.4.LAMEA 
 10.4.1.Mexico
 10.4.2.Brazil
 10.4.3.UAE
 10.4.4.Saudi Arabia
 10.4.5.Rest of LAMEA
10.5.Rest Of the World 
11.1.Market Drivers
11.2.Market Challenges
11.3.Impact Analysis
12OFFSHORE CRANE MARKET OPPORTUNITIES
13OFFSHORE CRANE MARKET TRENDS
14LEGAL & REGULATORY FRAMEWORK
15.1.Demand Side Analysis
15.2.Supply Side Analysis
16VALUE CHAIN ANALYSIS
17.1.Competitive Landscape
 17.1.1.Porter’s Five Forces Analysis
18.1.HEILA Cranes S.p.a.
18.2.Huisman Equipment B.V.
18.3.Kenz Figee Group
18.4.Konecranes
18.5.Liebherr Group
18.6.Manitowoc Cranes
18.7.National Oilwell Varco
18.8.PLM Cranes B.V.
18.9.Seatrax Inc.
18.10.Sormec 
19DISCLAIMER

Research Methodology

Research Methodology for the Global Offshore Crane Market Analysis (2021-2027)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global offshore crane market were the three major steps undertaken to create and analyze the adoption of offshore crane in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global offshore crane market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the offshore crane market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the offshore crane market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, lifting capacity, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the offshore crane market. Further, we conducted factor analysis using dependent and independent variables such as increasing oil discoveries in emerging economies. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Offshore crane market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global offshore crane market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of revenue (USD) and the adoption rate of the offshore crane market across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the global offshore crane market in terms of type, lifting capacity, and application Also, the growth strategies adopted by these players to compete in the fast-growing market


Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

offshore crane market
offshore crane market

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global offshore crane market. Data was split into several segments & sub-segments post studying various parameters and trends in the type, lifting capacity, and application in the global offshore crane market.

The main objective of the Global Offshore crane Market Study

The current & future market trends of the global offshore crane market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the offshore crane market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of the type, lifting capacity, and application.
  • Define and analysis of the regulatory framework for the offshore crane market industry.
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
  • Analyze the current and forecast market size of the offshore crane market for the major region.
  • Major countries of regions studied in the report include Asia Pacific, Europe, North America, LAMEA, and the Rest of the world.
  • Company profiles of the offshore crane market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?