Offshore Cranes Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

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  • Number of Pages: 250
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Market Snapshot

CAGR:7.72
2023
2032

Source: Market Expertz

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Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 7.72
Energy & Power-companies
Energy & Power-Snapshot

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Report Overview

Offshore Cranes Market Analysis By Application (Oil & Gas, Renewable Energy, Others), By Type (Fixed Boom Cranes, Knuckle Boom Cranes, Telescopic Boom Cranes), and By Region Forecast to 2032:

The Offshore Cranes Market is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 6.85% from 2022 to 2032. This growth is expected to result in an estimated increase of USD 9,876.54 million in market size. The expansion of this market can be attributed to several key factors, including the increasing demand for oil and gas exploration and the growing focus on renewable energy sources in offshore locations. Offshore cranes play a critical role in material handling and installation activities in these challenging environments.

Offshore Cranes Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Offshore Cranes Market is the continued demand for oil and gas exploration and production in offshore locations. Offshore cranes are essential for tasks such as lifting heavy equipment, supplies, and personnel transfer, contributing to efficient offshore operations. The oil and gas industry's offshore activities, particularly in deepwater reserves, are major contributors to the demand for advanced offshore crane solutions.

Additionally, the increasing focus on renewable energy sources, such as offshore wind farms, is driving market growth. Offshore cranes are used in the installation and maintenance of wind turbines and other renewable energy infrastructure in offshore locations. As countries seek to reduce their carbon footprint and transition to cleaner energy sources, the demand for offshore cranes in the renewable energy sector is expected to rise.

Trends:

An emerging trend in the Offshore Cranes Market is the development of advanced crane technologies, including automation and remote operation capabilities. These technologies enhance the safety and efficiency of offshore crane operations by reducing the need for human intervention in hazardous environments.

Moreover, the adoption of lightweight and corrosion-resistant materials in offshore crane construction is gaining traction. This trend not only reduces the crane's weight but also improves its durability in the harsh offshore environment, leading to longer service life and reduced maintenance costs.

Restraints:

One of the key challenges hindering the growth of the Offshore Cranes Market is the high capital investment required for offshore crane procurement and maintenance. Offshore cranes are specialized equipment designed to withstand challenging weather conditions and corrosive environments, making them expensive to manufacture and maintain. Overcoming the cost barrier and providing cost-effective solutions remains a challenge.

Furthermore, the stringent regulatory and safety standards governing offshore operations can be a restraint. Compliance with these standards adds complexity and cost to offshore crane design and operation.

Offshore Cranes Market Segmentation By Application:

  • Oil & Gas: The oil and gas sector is a major consumer of offshore cranes for activities such as platform construction, maintenance, and material handling.
  • Renewable Energy: The renewable energy sector, particularly offshore wind energy, relies on offshore cranes for the installation and servicing of wind turbines and other infrastructure.
  • Others: Other applications include marine and shipping activities that require offshore cranes for cargo handling and vessel maintenance.

Offshore Cranes Market Segmentation By Type:

  • Fixed Boom Cranes: Fixed boom cranes are commonly used for stable lifting operations in offshore applications.
  • Knuckle Boom Cranes: Knuckle boom cranes offer greater flexibility in reaching and lifting loads, making them suitable for various offshore tasks.
  • Telescopic Boom Cranes: Telescopic boom cranes provide extended reach and lifting capacity, making them ideal for larger-scale offshore projects.

Regional Overview:


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  • North America is expected to be a significant contributor to the global Offshore Cranes Market, accounting for approximately 30% of the market's growth during the forecast period. The region's extensive offshore oil and gas activities in the Gulf of Mexico and the growing offshore wind energy sector drive market demand.
  • Europe is another prominent market, with countries like the United Kingdom, Germany, and Denmark leading in offshore wind energy installations. Regulatory support and investment in renewable energy infrastructure bolster the use of offshore cranes in the region.

Offshore Cranes Market Customer Landscape:

The Offshore Cranes Market report encompasses the customer adoption lifecycle, ranging from early adopters to mainstream users. It delves into adoption rates across different regions based on industry needs and includes key purchase criteria and safety considerations to assist companies in formulating effective growth strategies.

Major Offshore Cranes Market Companies:

Companies in the offshore cranes market are employing diverse strategies such as technological innovation, partnerships, and geographic expansion to strengthen their market presence.

Example companies include:

  1. Liebherr Group: Liebherr is a leading manufacturer of offshore cranes known for their reliability and advanced technology. They cater to both the oil and gas and renewable energy sectors.
  2. TTS Group ASA: TTS Group specializes in offshore crane solutions, with a focus on customized products for various offshore applications.
  3. Palfinger Marine: Palfinger Marine offers a range of marine and offshore cranes with a focus on compact and lightweight designs for ease of installation and operation.

The competitive landscape analysis in the report provides insights into 20 key market players, including:

  • Terex Corporation
  • Huisman Equipment B.V.
  • Kenz Figee Group
  • National Oilwell Varco, Inc.
  • Cargotec Corporation
  • PALFINGER AG
  • Konecranes Plc
  • Manitowoc Company, Inc.
  • Zoomlion Heavy Industry Science and Technology Co., Ltd.
  • Effer S.p.A.

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on their expertise, product offerings, and market dominance.

Segment Overview:

The Offshore Cranes Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

  • Application Outlook (USD Million, 2019 - 2032):
    • Oil & Gas
    • Renewable Energy
    • Others
  • Type Outlook (USD Million, 2019 - 2032):
    • Fixed Boom Cranes
    • Knuckle Boom Cranes
    • Telescopic Boom Cranes
  • Geography Outlook (USD Million, 2019 - 2032):
    • North America
      • United States
      • Canada
    • Europe
      • United Kingdom
      • Germany
      • France
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • India
      • Rest of Asia-Pacific
    • Middle East & Africa
      • United Arab Emirates
      • South Africa
      • Rest of Middle East & Africa
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America

TABLE OF CONTENTS: GLOBAL OFFSHORE CRANES MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. OFFSHORE CRANES MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Offshore Cranes Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Power Of Suppliers

    4.5.2. Power Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. OFFSHORE CRANES MARKET BY Duty Cycle INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2. Production Duty

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. Intermediate Duty and Drilling Duty

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. OFFSHORE CRANES MARKET BY End user INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. Oil & Gas

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Mining

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. OFFSHORE CRANES MARKET REGIONAL OUTLOOK

7.1. Offshore Cranes Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.2. North America Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Offshore Cranes Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Offshore Cranes Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Offshore Cranes Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Offshore Cranes Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Offshore Cranes Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1. Konecranes (Finland)

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2. Huisman Equipment B.V. (The Netherlands)

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3. Liebherr (Switzerland)

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4. National Oilwell Varco (US)

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5. Cargotec (Finland)

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6. Zoomlion (China)

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7. Manitowoc (US)

    9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8. Kenz Figee (the Netherlands)

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9. Palfinger (Austria)

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiatives

9.10. TEREX Corporation (US)

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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