Farmington, March 15, 2023 (GLOBE NEWSWIRE) -- The 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 cranes are pieces of lifting equipment that are used to move things and people between ships, barges, and structures. Deep-sea oil and gas exploration and production have been getting better over the past two years. There have also been more offshore wind projects. All of these need lifting equipment. The company has also put a lot of money into making cranes that can work in harsh conditions offshore and lift heavy loads.
Request Sample Copy of Report “Offshore Crane Market Size, Share & Trends Estimation Report By Application (Oil rig crane, Marine crane, Other), By Design Type (Knuckle boom, Telescopic, Lattice, Others), By Lifting Capacity (0-500mt, 500-3000mt, Above 3000mt), By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Market Dynamics:
Drivers:
More and more oil and gas are being found and made in offshore areas. Offshore cranes are needed to set up drilling rigs, platforms, and other offshore structures and keep them in good shape.
People are becoming more interested in renewable energy. For offshore wind power to work, large turbines and other equipment need to be set up and taken care of. This means that offshore cranes are needed.
Changes in crane technology: New and advanced technologies like remote operation, automation, and safety features are driving the growth of the offshore crane market.
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 making a need for offshore cranes.
Restraints:
High cost to get started: Offshore cranes are pricey and need a lot of money to get going. Small and medium-sized businesses may find it harder to do business because of this.
The oil and gas industry goes through cycles, which affects how much demand there is for offshore cranes. Prices and markets change in the oil and gas industry, which affects the demand for offshore cranes.
Hard-to-follow rules about safety: Safety rules for offshore work are very strict, which can make it harder and more expensive to use offshore cranes.
There aren't enough people with the right skills: Crane operators who work offshore need to have special skills and experience, and there may not be enough qualified operators in some places.
Opportunities:
Exploration in deepwater and ultra-deepwater is becoming more popular. Deepwater and ultra-deepwater oil and gas reserves are becoming more important, which is why specialised offshore cranes are needed.
Offshore wind power 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 can make offshore work more efficient and safer, which is good for offshore crane manufacturers.
In places like Asia-Pacific and Latin America, where more offshore exploration and production work is being done, the offshore crane market has a lot of room to grow.
Regional Outlook:
In 2020, North America was the biggest market for offshore cranes around the world. During the forecast period, the market in this area is expected to grow at a fast rate. This is because more money is being put into the offshore oil and gas business in the area. Also, the United States is the largest producer of oil and natural gas in the world.
In terms of demand for offshore cranes, Asia-Pacific and Latin America are also among the top places. This is because there is more going on offshore in these areas.
In the near future, the European market is likely to grow at a high CAGR. This is likely because more money is being put into offshore wind energy projects in the area. Europe is one of the best places for offshore wind energy projects, and offshore cranes are needed to put up wind turbines there.
Middle East and Africa are also important parts of the world's offshore crane market. Offshore oil reservoirs in Africa are the main reason for this.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 9.68% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 35.17 Billion |
| By Lifting Capacity | 0-500mt, 500-3000mt, Above 3000mt, Other |
| By Design type | Knuckle boom, Telescopic, Lattice, Other |
| By Application | Oil rig crane, Marine crane, Other |
| 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 |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Key Segments Covered:
Top Market Players:
Cargotec Corporation, Konecranes, Liebherr, NOV Inc., Terex Cranes, Huisman Equipment B.V., Kenz Figee, PALFINGER AG, MELCAL, HEILA Cranes S.p.a., and others.
By Application
- Oil rig crane
- Marine crane
- Others
By Design type
- Knuckle boom
- Telescopic
- Lattice
- Others
By Lifting Capacity
- 0-500mt
- 500-3000mt
- Above 3000mt
- Others
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
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