Offshore Crane Global Market Report 2023

“Offshore Crane Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on offshore crane market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for offshore crane? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The offshore crane market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Board offshore cranes; Knuckle Boom Crane; Telescopic Boom Crane; Lattice Boom Crane; Luffing Crane; Other Types

• 2) By Lifting Capacity: 0 - 500 MT; 500 - 2,000 MT; 2,000 - 5,000 MT; Above 5,000 MT

• 3) By Application: Oil and Gas; Marine; Renewable Energy; Other Applications

• Companies Mentioned: Palfinger AG; Cargotec Oyj; Liebherr; Konecranes Oyj; Kenz Figee Group BV

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the offshore crane market are: 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, and Sormec SRL.

The global offshore crane market is expected to grow from $21.91 billion in 2022 to $23.86 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The offshore crane market is expected to grow to $32.79 billion in 2027 at a CAGR of 8.3%.

The offshore crane market consists of sales of bottom-supported, and floating platform cranes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The offshore crane refers to a lifting device mounted on a pedestal for transferring materials and personnel from and to ships, barges, and structures. The offshore cranes are mostly used in heavy-lift applications, shipboard operations, and production and drilling operations.

Asia-Pacific was the largest region in the offshore crane market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the offshore crane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of offshore cranes are board offshore cranes, knuckle boom cranes, telescopic boom cranes, lattice boom cranes, luffing cranes, and other types. The board offshore cranes refer to a conventional, rope-luffing crane with a slew bearing type, having lifting capacities of up to 1,200 tons. Board offshore cranes are used for installing offshore wind parks. 102meter is the maximum boom length for this crane. The lifting capacity of offshore cranes are 0 - 500 MT, 500 - 2,000 MT, 2,000 - 5,000 MT, and above 5,000 MT. The applications include oil and gas, marine, renewable energy, and other applications.

The growing number of investments in offshore drilling projects is expected to propel the growth of the offshore crane market going forward. Offshore drilling refers to extracting petroleum and natural gas from oceanic reserves instead of from land-based reserves by using a platform that is mobile or fixed and located off the coast. Lifting and moving containers, drilling machinery, and sections of piping is the main duty of offshore crane. For instance, in March 2022, according to Offshore energy, a platform that connects communities, UAE player, Abu Dhabi National Oil Company (ADNOC), is investing in drilling growth with $658 million in new awards. ADNOC's onshore and offshore fields are covered by these awards. Therefore, the growing number of investments in offshore drilling projects is driving the growth of the offshore crane market.

Technological advancement is a key trend gaining popularity in the offshore crane market. Major companies operating in the market are introducing technological innovations to reduce offshore carbon dioxide (CO2) releases during production and sustain their position in the market. For instance, in July 2022, Huisman Equipment BV, a Czech Republic-based heavy construction equipment company launched a 700mt Travelling Quayside Crane for the load-out of offshore wind turbine components. The load-out procedure of offshore wind turbine components is completed much more quickly with this 700mt Travelling Quayside Crane compared to the conventional methods, which include crawler cranes or tandem lifting by two cranes with a capacity of 200mt to 300mt. Therefore, the advanced capacity of the crane results in reduction of CO2 emissions.

In September 2022, Rainbow Industries Co, a China-based high-end equipment manufacturing company entered into an agreement with Kalmar to retain the intellectual property and assets relating to its heavy crane product line for an undisclosed amount. With this agreement, about 40 Kalmar employees based in China along with automatic stacking cranes, ship to shore cranes, rail-mounted gantry cranes, and rubber-tired gantry cranes will be transferred to Rainbow Industries Co. Kalmar is a Sweden-based finish marine crane and handling equipment manufacturer.

The countries covered in the offshore crane market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The offshore crane market research report is one of a series of new reports from The Business Research Company that provides offshore crane market statistics, including offshore crane industry global market size, regional shares, competitors with an offshore crane market share, detailed offshore crane market segments, market trends and opportunities, and any further data you may need to thrive in the offshore crane industry. This offshore crane market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.