The Global Offshore Crane Market Share Is Projected To Be Worth USD 35.17 Billion By 2030, Registering A CAGR Of 9.68% During The Forecast Period (2022 – 2030).

Offshore Crane Market Overview

Offshore cranes are lifting equipment used to transfer material and people to and from marine vessels, barges, and structures. In the past two years, deep-sea oil and gas exploration and production activities have shown an upward trend. Offshore wind projects have also increased. These all require lifting equipment. The company has also invested heavily in the development of cranes that can withstand the harsh offshore environment and lift heavy loads.

Contrive Datum Insights has recently published the Offshore Crane Market to its huge database which helps to shape the future of businesses by making well-informed business decisions. It offers a comprehensive analysis of various business aspects such as global market trends, recent technological advancements, market size, shares, and new innovations. Furthermore, this analytical data has been compiled through data exploratory techniques such as primary and secondary research. Moreover, an expert team of researchers throws light on various static and dynamic aspects of the global Offshore Crane market.

Some of the key players profiled in the study are:

Different leading key players have been profiled to get better insights into the businesses. It offers detailed elaboration on different top-level industries which are functioning in global regions. It includes informative data such as company overview, contact information, and some significant strategies followed by key players: Cargotec Corporation, Konecranes, Liebherr, NOV Inc., Terex Cranes, Huisman Equipment B.V., Kenz Figee, PALFINGER AG, MELCAL, HEILA Cranes S.p.a.

What are the major Applications, Types, and Regions for the Offshore Crane Market?

Based on the Application

• Oil rig crane
• Marine crane
• Other cranes (Cranes used for wind turbine installation and on FPSOs)

Based on the Design type

• Knuckle boom
• Telescopic
• Lattice
• Others ( Fixed and stiff hybrid booms)

Based on Lifting Capacity

• 0-500mt
• 500-3000mt
• Above 3000mt

Offshore Crane Market Regional Insights:

North America dominated the global offshore cranes market in 2020. The market in this region is expected to expand at a significant rate during the forecast period. This can be attributed to rising investments in the offshore oil and gas industry in the region. In addition, the United States is the world's leading producer of oil and natural gas.
Asia Pacific and Latin America are also leading regions in terms of offshore crane demand. This can be attributed to increased offshore activity in these regions.
The European market is expected to grow at a significant CAGR in the near future. This can be attributed to rising investments in offshore wind energy projects in the region. Europe is one of the leading regions for offshore wind energy projects, and offshore cranes are required to install wind turbines in Europe.

Middle East & Africa is also an important region for the global offshore crane market, led by offshore oil reservoirs in Africa”

Geographically, the global Offshore Crane market has been analyzed in various regions such as North America, Europe, Asia-Pacific, Latin America, the Middle East, and India. The global region is dominating this market in the upcoming future.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Market Dynamics:

Drivers:

Exploration and production of oil and gas in offshore areas are growing. Offshore cranes are needed to set up and maintain drilling rigs, platforms, and other offshore structures.

Renewable energy is becoming more popular. Offshore wind power requires the installation and maintenance of large turbines and other equipment, which creates a need for offshore cranes.

Changes in crane technology: The growth of the offshore crane market is being driven by the development of new and advanced technologies, such as remote operation, automation, and safety features.

Initiatives by the government to encourage offshore exploration and production: The government is putting in place policies and offering incentives to encourage offshore exploration and production, which is creating a need for offshore cranes.

Restraints:

High initial cost: Offshore cranes are expensive and need a lot of money to get started. This can make it hard for small and medium-sized businesses to do business.

The oil and gas industry has a cyclical nature, and this affects the demand for offshore cranes. The oil and gas industry is subject to price volatility and market changes, which affects the demand for offshore cranes.

Safety rules that are hard to follow: Offshore operations have to follow strict safety rules, which can make it more expensive and hard to use offshore cranes.

There aren't enough skilled operators: Crane operators who work offshore need to have special skills and experience, and there may not be enough qualified operators in some areas.

Opportunities:

Demand for deepwater and ultra-deepwater exploration is growing. Oil and gas reserves in deepwater and ultra-deepwater are becoming more important, which is driving the need for specialised offshore cranes.

Growth of offshore wind power: The offshore wind power industry is expected to grow a lot over the next few years, which will be good for the offshore crane market.

Adopting automation and remote operation: Using automation and remote operation technologies can make offshore work more efficient and safer, which is good for offshore crane manufacturers.

Emerging markets: The offshore crane market has a lot of room to grow in places like Asia-Pacific and Latin America, where more offshore exploration and production work is being done.

Offshore Crane Market Report Scope:

Report Attributes	Details
Growth Rate	CAGR of 9.68% from 2022 to 2030.
Based on the Application	Oil rig crane Marine crane Other cranes (Cranes used for wind turbine installation and on FPSOs)
Based on the Design type	Knuckle boom Telescopic Lattice Others ( Fixed and stiff hybrid booms)
Based on Lifting Capacity	0-500mt 500-3000mt Above 3000mt
By Companies	Cargotec Corporation, Konecranes, Liebherr, NOV Inc., Terex Cranes, Huisman Equipment B.V., Kenz Figee, PALFINGER AG, MELCAL, HEILA Cranes S.p.a.
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

 

Frequently Asked Questions (FAQ) about the Offshore Crane market:

What is the CAGR of the global Offshore Crane market?

The Offshore Crane Market is growing at a CAGR of 5.5% during the forecast period.

Which region would offer high growth for vendors in the Offshore Crane market?

North America dominated the global offshore cranes market in 2020.

Which Is the Most potential market segment?

Based on the Application

• Oil rig crane
• Marine crane
• Other cranes (Cranes used for wind turbine installation and on FPSOs)

Based on the Design type

• Knuckle boom
• Telescopic
• Lattice
• Others ( Fixed and stiff hybrid booms)

Which are the top industry players in the Offshore Crane market?

Cargotec, Konecranes, Liebherr, Manitowoc, Terex Corporation, Huisman, Kenz Figee, National Oilwell Varco, Palfinger, Zoomlion

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