Offshore Cranes Market Highlights
The Offshore Cranes Market is projected to be valued at USD 26.21 Billion by 2025, with 9.01% CAGR during the forecast period, 2019–2025. Offshore cranes are designed for lifting purposes in all weather conditions including cold environments with extreme temperatures. These cranes are used to transfer materials from one marine vessel to another. The load capacity for supply boat lifts (off-board) is generally less than the onboard. The capacity of an offshore crane depends on the structure the crane is mounted on, which include bottom-supported, semi-submersible, and ship-hulled. It also depends on factors such as the location of the platform and load in relation to the crane.
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Prominent Players analyzed in the Offshore Cranes Market Report @
The major companies operating in the Global Offshore Cranes Market are Liebherr (Switzerland), National Oilwell Varco (US), Zoomlion (China), TEREX Corporation (US), Seatrax, Inc (US), Konecranes (Finland), Huisman Equipment B.V. (the Netherlands), XCMG Group (China), American Crane and Equipment Corporation (US), Kenz Figee (the Netherlands), Cargotec (Finland), Palfinger (Austria), and Manitowoc (US).
Offshore Cranes Market Segmentation:
The global offshore cranes market has been segmented based on design type, lifting capacity, duty cycle, type, end use, and region.
By design type, the global market is segmented as knuckle boom, telescopic, lattice and others. The knuckle boom segment is expected to dominate the global market and is likely to grow with the highest CAGR.
By lifting capacity, the global Offshore Cranes Market is segmented as 0-500 metric ton (mt), 500-3000mt, and above 3000mt. The 500-3000mt segment is expected to grow with the highest CAGR during the forecast period.
By duty cycle, the market is segmented into production duty, intermediate duty, and drilling duty. The drilling duty segment is expected to hold the largest market share during the forecast period.
By type, the market is segmented into mobile cranes, fixed cranes, and marine & port cranes. The marine & port cranes segment is expected to hold the largest market share during the forecast period.
By end use, the global market is segmented into oil & gas, mining, and others. The oil & gas segment is expected to hold the largest market share during the forecast period.
The global offshore cranes market has been segmented into five regions, namely Asia-Pacific, Europe, North America, Middle East & Africa, and South America. Asia-Pacific is expected to hold the largest market share in the global offshore cranes market during the forecast period owing to the growth in offshore E&P activities in China, Malaysia, Australia, and Thailand.
The offshore cranes market in North America is expected to be dominated by the US owing to increase in the offshore vessel demand in offshore regions of the US. For instance, in 2015 the American Wind Energy Association (AWEA) implemented offshore windfarms producing 2,000 GW of energy. The offshore crane systems are utilized in the installation and maintenance of these structures, further supporting the offshore cranes market.
The offshore cranes market in Europe is dominated by the UK due to the rise in the offshore wind power generation. The installation of wind turbines requires high capacity tower cranes. With the increase in offshore wind power generation capacity, the market for offshore cranes is also expected to grow.
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Scope of the Report
This report provides an in-depth analysis of the global offshore cranes market, tracking five market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size and share for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global offshore cranes market by design type, lifting capacity, duty cycle, type, end-use, and region.
Table Of Contents
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Insights
5 Market Dynamics
6 Global Offshore Cranes Market, By Design Type
7 Global Offshore Cranes Market, By Lifting Capacity
8 Global Offshore Cranes Market, By Duty Cycle
9 Global Offshore Cranes Market, By Type
10 Global Offshore Cranes Market, By End-Use Industry
11 Global Offshore Cranes Market, By Region
12 Competitive Landscape
13 Company Profile
14 List Of Tables
15 List Of Figures
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