Global Offshore Cranes Market Report Size, Share and Trends by Application (Oil Drilling Crane, Ship Crane, Others), By Load Type (0-500m, 500-3000m, Over 3000m), According to End Users (Oil & Gas), Marine, Renewable Energy , Other), forecast 2019-2025
Considerable growth is expected for the offshore crane market due to the high growth in oil and gas applications in the forecast period. The growth of the offshore crane market is being driven by increasing offshore spending and increasing demand for the oil and gas industry, which is expected to result in higher investments in developing countries like India and China with oil and gas reserves.
Globally operating oil companies such as National Oil Well Varco and other state-owned sand gas companies and agencies are making large investments in offshore crane projects to explore the natural resources of oil and gas. For example, in August 2019, BHP’s board of directors made an investment of around $ 283 million to develop the Ruby project in Trinidad and Tobago.
Initial production of the project is expected to begin in 2021, along with a total investment of $ 500 million.
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Additionally, in January 2019, Pertamina operated the Jakarta-based Indonesian state-owned oil and gas company that operated the East Natuna Block Project, which is located on a block of an estimated 220 trillion cubic feet (TCF) of gas with an investment of approximately US $ 30 billion Dollar is located. This will fuel the demand for improved offshore cranes to perform various operations at the investigation sites.
As a result, the demand for these cranes in the oil and gas industry for repair applications and pipe maintenance is increasing.
In addition, the oil and gas industry is growing due to the growing demand for petroleum products from the automotive industry. Growing demand for petroleum has resulted in these machines being added to the production platform and drilling to fuel the extraction of the industry.
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The offshore crane market is expected to grow mainly through its increasing application in the oil and gas industry for a high performance operation that includes the assembly of oil rigs and the construction of wind farms. The growing demand for these machines is increasing due to the high precision and safety measures built into models.
In addition, the heavy lift crane is designed primarily for the installation of wind farms and oil and gas, as well as for the decommissioning sector.
Current market trends covered in the report
- The developments such as expansions, product launches, mergers and acquisitions in the offshore crane market.
- The Asia-Pacific region is expected to be the largest region in the offshore crane market over the forecast period.
- In North America, the offshore crane market is expected to grow significantly over the forecast period.
Market segmentation for offshore cranes
After application
- Oil drilling crane
- Sea crane
- Other cranes
By end user
- Petrol
- marine
- Renewable energy
- Other
By design type
- Ankle extension
- Telescopic
- Grid
- Other
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Offshore Crane Market – Segment by Region
North America
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of the Asia Pacific
Rest of the world
- Middle East and Africa
- Latin America
Company profiles
- Appleton Marine, Inc.
- Cargotec Corp.
- DMW Marine Group
- EBI Cranes, LLC
- Gulf Crane Services, Inc.
- HEILA Cranes SPA
- Huisman Equipment BV
- Kenz Figee Group
- Konecranes PLC
- Liebherr Group
- Manitowoc Company, Inc.
- National Oilwell Varco
- North Pacific Crane, Co.
- Oceaneering International, Inc.
- Palfinger AG
- PLM Cranes BV
- Seatrax, Inc.
- Sormec
- Sparrows Offshore Group Ltd.
- Zoomlion Heavy Industry Science & Technology Co., Ltd.
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