Offshore Cranes Market Size Expected to Grow at a CAGR over 9.7% from 2022 to 2030

Pune, India, October 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Offshore Cranes Market.

Market Highlights

The Offshore Cranes Market is projected to be valued at USD 35,170 Million by 2030, with 9.7% CAGR during the forecast period, 2022–2030. 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.

GLOBAL OFFSHORE CRANES MARKET, 2022–2030 

In 2018, Asia-Pacific dominated the global offshore cranes market in terms of share: MRFR

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.

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 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 is expected to grow at 9.7% CAGR during the forecast period.

Access Report Details @ https://www.marketresearchfuture.com/reports/offshore-cranes-market-8445

Drivers 

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.

• 
  Design Type
  
  
  
  • Knuckle Boom
  
  
  • Telescopic
  
  
  • Lattice
  
  
  • Others
  
  
  
  

• 
  Lifting Capacity
  
  
  
  • 0-500mt
  
  
  • 500-3000mt
  
  
  • Above 3000mt
  
  
  
  

• 
  Duty Cycle
  
  
  
  • Production Duty
  
  
  • Intermediate Duty
  
  
  • Drilling Duty
  
  
  
  

• 
  Type
  
  
  
  • Mobile Cranes
  
  
  • Fixed Cranes
  
  
  • Marine & Port Cranes
  
  
  
  

• 
  End Use
  
  
  
  • Oil & Gas
  
  
  • Mining
  
  
  • Others
  
  
  
  

• 
  By Region
  
  
  
  • North America 
  
  
  • Asia-Pacific 
  
  
  • Europe
  
  
  • Middle East & Africa
  
  
  • South America
  
  
  
  

Key Players

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).