Offshore Crane Market: Growth Drivers, Top Key Players & Regional Outlook, 2026
Category: #business  By Ronak Bora  Date: 2021-12-02
  • share
  • Twitter
  • Facebook
  • LinkedIn
Offshore Crane Market: Growth Drivers, Top Key Players & Regional Outlook, 2026

The size of Offshore Crane Market was registered at USD 2.5 billion in the year 2018 and is anticipated to cross USD 5 billion by 2026. Between the period 2019-2026, the market is expected to register a CAGR of 9%.

Sustained demand for maintenance & repair of oil & gas extraction systems is poised to fuel offshore crane market size. A notable uptick is being witnessed in subsea construction projects followed by infusion of investments, thereby signifying the relevance of maximum safety and high lifting capacity. Prominently, offshore cranes are highly sought-after in pipe maintenance & repair operations.

Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/4103

Stakeholders anticipate demand for knuckle boom cranes to proliferate against the backdrop of low maintenance and maximum efficiency requirements. These robust cranes find increased application in loading and unloading operations. With knuckle boom cranes providing improved strength and flexibility, they have become popular in marine and oil & gas industries. Meanwhile, lattice boom crane and telescopic boom crane will also provide impetus to the offshore crane market size.

With lifting capacity of over 5,000 mt, popularity of heavy-duty offshore cranes is set to spur the demand for the cranes as they apparently perform efficiently in hostile condition. It is prudent to mention that these dynamic cranes are increasingly used in the construction of large oil & gas and windfarm projects in offshore ambience.

MEA offshore crane market size is likely to augment during the forecast period as the region is replete with investments. For instance, National Petroleum Construction Company (NPCC) in November 2019 proclaimed an investment of US$ 89.8 million to spur subsea construction projects in the UAE. According to several reports, NPCC is contemplating product expansion as they look to underpin many deep-water projects not only in the Gulf but also across the globe. Meanwhile, high maintenance and operational cost may derail the growth of offshore crane industry.

North America offshore crane market share is expected to expand robustly in the wake of an upsurge in demand for electricity witnessed in the U.S. Reportedly, the U.S. government is vying to produce maximum electricity stemming from renewable energy sources such as offshore wind. Of late, demand for renewable energy has surged in the backdrop of burgeoning urbanization and rampant population. For instance, in 2019, Vineyard offered an 800 MW wind farm project in Massachusetts to provide electricity to over 400,000 homes with clean energy. Apparently, the company is contemplating investment of around US$ 2.8 billion for development of project.

Government initiatives across India and China aimed at bolstering renewable energy landscape are expected to remain catalyst in fueling offshore crane inudtry revenue during the assessment period. Prominently, attributes such as better vessel stability and light weight make offshore crane highly sought-after among end-users.

Leading companies are overwhelmingly prioritizing strategic business strategies such as price and product differentiation strategies. Prominent players eyeing for offshore crane market size expansion are Liebherr, Palfinger AG, National Oilwell Varco, Huisman Equipment, Kenz Figee, MacGregor, Seatrax and Heila Group. These companies are increasingly investing in research and development activities to help boost reliability and energy efficiency.

Get This Report Customized To Your Requirements@ https://www.decresearch.com/roc/4103

Some Point from Table of Contents:

Chapter 4. Offshore Crane Market, By Type

4.1. Key trends by type

4.2. Knuckle boom crane

4.2.1. Market estimates and forecast, 2015 – 2026

4.3. Lattice boom crane

4.3.1. Market estimates and forecast, 2015 – 2026

4.4. Telescopic boom crane

4.4.1. Market estimates and forecast, 2015 – 2026

4.5. Other

4.5.1. Market estimates and forecast, 2015 – 2026

Chapter 5. Offshore Crane Market, By Lifting Capacity

5.1. Key trends by lifting capacity

5.2. 0-500 mt

5.2.1. Market estimates and forecast, 2015 – 2026

5.3. 500-2000 mt

5.3.1. Market estimates and forecast, 2015 – 2026

5.4. 2000-5000 mt

5.4.1. Market estimates and forecast, 2015 – 2026

5.5. Above 5000 mt

5.5.1. Market estimates and forecast, 2015 – 2026

Browse complete Table of Contents (ToC) of this research report @

https://www.decresearch.com/toc/detail/offshore-crane-market

Browse More News:

Global Material Handling Equipment Market Opportunity Assessment to Reveal profitable Avenues for Players 2021-2027

Sales Scenario of Global Curtains and Window Blinds Market to Stay Positive Through 2021-2027

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

Read More >>

More News By Ronak Bora

Electrical Conduit Market Statistics, Regional Growth & Forecast To 2024
Electrical Conduit Market Statistics, Regional Growth & Forecast To 2024
By Ronak Bora

Global electrical conduit market is poised to witness appreciable growth in the coming years owing to increasing efforts towards containing electric supply faults, health hazards, fire, and other operational breakdown. Electrical wiring is directly ...

GCC Natural Gas Market Outlook 2024 By Industry Players
GCC Natural Gas Market Outlook 2024 By Industry Players
By Ronak Bora

GCC natural gas market has been a recipient of the concerns related to energy security and climatic changes due to increasing fossil fuel consumption. In a bid to strengthen the regional sustainable energy scenario, GCC countries including Kuwait, UA...

Europe Residential Boiler Market | Opportunities, Key Trends & Growth Analysis To 2024
Europe Residential Boiler Market | Opportunities, Key Trends & Growth Analysis To 2024
By Ronak Bora

The shifting focus of European countries toward energy efficiency is certain to act as a driving force for Europe residential boiler industry. The increasing awareness about the adverse effects of fossil fuel consumption for energy generation has bee...