Investment Surge in Offshore Drilling Projects Propels Offshore Crane Market to Reach $32.79 Billion by 2027

| Source: Research and Markets Research and Markets

Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "Offshore Crane Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global offshore crane market is on a robust growth trajectory, poised to increase from $21.91 billion in 2022 to $23.86 billion in 2023, boasting a strong compound annual growth rate (CAGR) of 8.9%. This upward momentum is set to continue, with the market anticipated to reach $32.79 billion by 2027, fueled by an 8.3% CAGR.

Major Players:

  • Palfinger AG
  • Cargotec Oyj
  • Liebherr
  • Konecranes Oyj
  • Kenz Figee Group BV
  • Heila Group
  • NOV Inc.
  • Zoomlion Heavy Industry Science And Technology Company Limited
  • Seatrax Inc.
  • XCMG Group
  • American Crane
  • MELCAL SpA
  • PLM Cranes BV
  • MacGregor
  • Sormec SRL

Reasons to Purchase:

  1. Global Perspective: Access the most comprehensive market report covering 50+ geographies.
  2. COVID-19 Impact: Gain insights into how the market has responded to the pandemic.
  3. Geopolitical Factors: Assess the influence of the Russia-Ukraine war on agriculture, energy, and mineral commodity supply chains, and its indirect effects on the market.
  4. Inflation Impact: Measure the impact of high global inflation on market growth.
  5. Regional Strategies: Formulate regional and country-specific strategies based on local data and analysis.
  6. Investment Opportunities: Identify growth segments for strategic investment.
  7. Competitive Advantage: Outperform competitors with forecast data, market drivers, and trends.
  8. Customer Insights: Understand customer behavior based on the latest market shares.
  9. Benchmarking: Evaluate performance against key competitors.
  10. Presentation Support: Enhance internal and external presentations with reliable high-quality data and analysis.

The offshore crane is a pivotal lifting device mounted on pedestals for material and personnel transfer between ships, barges, and structures. These cranes are crucial in heavy-lift applications, shipboard operations, and production and drilling activities.

Types of Offshore Cranes:

  • Board Offshore Cranes
  • Knuckle Boom Cranes
  • Telescopic Boom Cranes
  • Lattice Boom Cranes
  • Luffing Cranes
  • Other Types

Key Features of Board Offshore Cranes:

  • Conventional rope-luffing crane with a slew bearing type
  • Lifting capacities up to 1,200 tons
  • Used for offshore wind park installation
  • Maximum boom length of 102 meters

Lifting Capacity Categories:

  • 0 - 500 MT
  • 500 - 2,000 MT
  • 2,000 - 5,000 MT
  • Above 5,000 MT

Applications: Oil and gas, marine, renewable energy, and more.

Market Research Report: The offshore crane market research report offers comprehensive statistics, including global market size, regional shares, competitive analysis, detailed segments, market trends, and growth opportunities. It provides an in-depth analysis of the current and future industry landscape.

Key Technological Trend: Advancements in technology are reducing offshore carbon dioxide (CO2) emissions during production. Major companies are pioneering innovations to uphold sustainability. For example, Huisman Equipment BV launched a 700mt Travelling Quayside Crane in July 2022, significantly expediting offshore wind turbine component load-out processes and reducing CO2 emissions.

Strategic Acquisition: In September 2022, Rainbow Industries Co acquired the intellectual property and assets of Kalmar's heavy crane product line, expanding its capabilities in crane manufacturing.

Regional Highlights: In 2022, Asia-Pacific emerged as the largest region in the offshore crane market, and it is expected to be the fastest-growing region in the forecast period. Other regions covered include Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa.

Covered Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Investment Surge: The increasing investments in offshore drilling projects are anticipated to drive the offshore crane market's growth. Offshore drilling involves extracting petroleum and natural gas from oceanic reserves using mobile or fixed platforms located off the coast. Offshore cranes play a crucial role in lifting and transporting containers, drilling machinery, and piping sections.

Market Value: The market value is defined as the revenues earned by enterprises within the specified market and geography, typically denominated in USD.

Key Attributes:

Report AttributeDetails
No. of Pages200
Forecast Period2023 - 2027
Estimated Market Value (USD) in 2023$23.86 billion
Forecasted Market Value (USD) by 2027$32.79 billion
Compound Annual Growth Rate8.3%
Regions CoveredGlobal

Key Topics Covered:

1. Executive Summary

2. Offshore Crane Market Characteristics

3. Offshore Crane Market Trends And Strategies

4. Offshore Crane Market - Macro Economic Scenario
4.1. COVID-19 Impact On Offshore Crane Market
4.2. Ukraine-Russia War Impact On Offshore Crane Market
4.3. Impact Of High Inflation On Offshore Crane Market

5. Offshore Crane Market Size And Growth
5.1. Global Offshore Crane Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Offshore Crane Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Offshore Crane Market Segmentation
6.1. Global Offshore Crane Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Board Offshore Cranes
  • Knuckle Boom Crane
  • Telescopic Boom Crane
  • Lattice Boom Crane
  • Luffing Crane
  • Other Types

6.2. Global Offshore Crane Market, Segmentation By Lifting Capacity, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
0 - 500 MT
500 - 2,000 MT
2,000 - 5,000 MT

  • Above 5,000 MT

6.3. Global Offshore Crane Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Oil And Gas
  • Marine
  • Renewable Energy
  • Other Applications

7. Offshore Crane Market Regional And Country Analysis
7.1. Global Offshore Crane Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Offshore Crane Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/btml8m

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                Global Offshore Crane Market
                        

                
            

        

    





        

            

                

                    
Tags

                            
                                Crane
                            
                            
                                Cranes and Lifting Equipment 
                            
                            
                                Crawler Crane
                            
                            
                                Gantry Crane
                            
                            
                                Knuckle Boom Crane
                            
                            
                                Offshore Crane
                            
                            
                                Rubber Tired Gantry Crane
                            

                



        




    

        

        
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