Offshore Crane Global Market Report 2026

An offshore crane denotes a lifting apparatus mounted on a pedestal, designed for the movement of materials and personnel between ships, barges, and structures. Primarily utilized in heavy-lift applications, shipboard operations, and activities related to production and drilling, these cranes serve critical roles in offshore settings.

The primary classifications of offshore cranes encompass board offshore cranes, knuckle boom cranes, telescopic boom cranes, lattice boom cranes, luffing cranes, and other variants. 'Offshore cranes' typically refer to a traditional, rope-luffing crane featuring a slew bearing type, capable of lifting weights up to 1,200 tons. Board offshore cranes, with a maximum boom length of 102 meters, find specific utility in installing offshore wind parks. These cranes exhibit lifting capacities ranging from 0-500 MT, 500-2,000 MT, 2,000-5,000 MT, and exceeding 5,000 MT. Their applications span across sectors including oil and gas, marine operations, renewable energy ventures, and various other industrial applications.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have impacted the offshore crane market by increasing costs of imported steel structures, hydraulic systems, and heavy mechanical components used in crane manufacturing. These effects are most pronounced in high capacity and specialized offshore crane segments, particularly in regions dependent on cross border heavy equipment trade such as Europe and Asia Pacific. Higher tariffs have elevated project and installation costs for offshore oil and gas, marine, and renewable energy operators. At the same time, tariffs have supported local fabrication, regional assembly, and development of indigenous offshore lifting solutions, strengthening supply chain resilience.

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.

The offshore crane market size has grown strongly in recent years. It will grow from $27.96 billion in 2025 to $30.29 billion in 2026 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to expansion of offshore oil and gas exploration, growth in marine construction activities, increasing demand for shipboard lifting equipment, development of offshore drilling platforms, rising investments in maritime infrastructure.

The offshore crane market size is expected to see strong growth in the next few years. It will grow to $41.46 billion in 2030 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to expansion of offshore wind energy projects, growth in deepwater and ultra deepwater operations, increasing demand for high lifting capacity cranes, rising focus on offshore safety regulations, technological advancements in crane automation. Major trends in the forecast period include growing demand for heavy lift offshore operations, increasing adoption of high capacity crane systems, rising use of offshore cranes in renewable energy projects, preference for compact and flexible crane designs, focus on enhanced safety and load control systems.

The increasing demand in the oil and gas industry is expected to propel the growth of the offshore crane market going forward. The oil and gas industry refers to the global network of companies, activities, and processes involved in the exploration, extraction, refining, transportation, and marketing of petroleum products. Offshore cranes play a critical role in the oil and gas sector, particularly in activities associated with offshore exploration, drilling, production, material handling, deck management, enhanced versatility, and maintenance. For instance, in December 2024, according to the Energy Information Administration, a US-based government agency, U.S. oil production increased from 12.2 million b/d in December 2022 to 13.3 million b/d in December 2023 (a rise of 1.1 million b/d), while natural gas gross withdrawals grew from 121.1 Bcf/d in December 2022 to 128.8 Bcf/d in December 2023 (an increase of 7.7 Bcf/d). Therefore, the increasing demand in the oil and gas industry is driving the growth of the offshore crane market.

Major companies operating in the offshore crane market are focusing on innovative products such as subsea knuckle boom cranes to drive revenue growth. A subsea knuckle boom crane is a specialized crane designed for operations in underwater environments, particularly in offshore oil and gas fields. For instance, in October 2023, Huisman Equipment B.V., a Netherlands-based company specializing in the design and manufacturing of heavy construction equipment, launched a new series of subsea knuckle boom cranes. The series includes installations with a winch mounted on the crane's back or below deck, with models ranging in size from 85 meters to 350 meters. While deeper water capabilities can be added as an option, water depths of up to 3,000 meters are incorporated as standard. Using a remote motion reference unit that wirelessly transmits data to the Huisman offshore crane, the system enables motion detection for the supply vessel. Many offshore cranes already include this configuration, and it can also be retrofitted to existing Huisman cranes.

In July 2025, Tadano Ltd., a Japan-based lifting equipment manufacturing company, acquired the transportation system business of IHI Transport Machinery Co., Ltd. for an undisclosed amount. Through this acquisition, Tadano aims to expand its product portfolio and strengthen its global position as a comprehensive provider of lifting and infrastructure solutions. IHI Transport Machinery Co., Ltd. is a Japan-based industrial equipment company specializing in the design, engineering, manufacturing, and supply of transportation-system heavy-lifting machinery, including jib-climbing cranes, port and large offshore cranes, wind-power cranes, and bulk-handling systems.

Major companies operating in the offshore crane market are Palfinger AG, Cargotec Oyj, The Liebherr Group, Konecranes Oyj, Kenz Figee Group BV, Heila Group, NOV Inc., Zoomlion Heavy Industry Science and Technology Company Limited, Seatrax Inc., Xuzhou Construction Machinery Group Co. Ltd., American Crane Corporation, MELCAL SpA, PLM Cranes BV, Sormec SRL, Huisman Equipment B.V., Sparrows Offshore Group Limited, The Manitowoc Company Inc., Zhenhua Heavy Industries Co. Ltd., SANY Heavy Equipment Co. Ltd., Tadano Ltd., DMW Marine Group LLC, Allied Systems Company, HS.MARINE SRL, EK Marine Ltd., Appleton Marine Inc., North Pacific Crane Company, Thistle Marine Ltd., Dongnam Marine Crane Co. Ltd., OUCO Industry Co. Ltd., Cormach S.r.l., SKK Corporation, Effer S.p.A., Fassi Gru S.p.A., Hiab AB, Hyva Group

Asia-Pacific was the largest region in the offshore crane market in 2025. 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, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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

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 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.

Offshore Crane Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses 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.

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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, including technological disruption, regulatory shifts, and changing consumer preferences? 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, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, 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. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• 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 technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• 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.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• 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 company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

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
• Subsegments:
• 1) By Board Offshore Cranes: Fixed Board Cranes; Swinging Board Cranes
• 2) By Knuckle Boom Crane: Articulated Knuckle Boom Cranes; Compact Knuckle Boom Cranes
• 3) By Telescopic Boom Crane: Hydraulic Telescopic Cranes; Manual Telescopic Cranes
• 4) By Lattice Boom Crane: Fixed Lattice Boom Cranes; Floating Lattice Boom Cranes
• 5) By Luffing Crane: Luffing Jib Cranes; Tower Luffing Cranes
• 6) By Other Types: A-Frame Cranes; Gantry Cranes; Specialized Offshore Cranes
• Companies Mentioned: Palfinger AG; Cargotec Oyj; The Liebherr Group; Konecranes Oyj; Kenz Figee Group BV; Heila Group; NOV Inc.; Zoomlion Heavy Industry Science and Technology Company Limited; Seatrax Inc.; Xuzhou Construction Machinery Group Co. Ltd.; American Crane Corporation; MELCAL SpA; PLM Cranes BV; Sormec SRL; Huisman Equipment B.V.; Sparrows Offshore Group Limited; The Manitowoc Company Inc.; Zhenhua Heavy Industries Co. Ltd.; SANY Heavy Equipment Co. Ltd.; Tadano Ltd.; DMW Marine Group LLC; Allied Systems Company; HS.MARINE SRL; EK Marine Ltd.; Appleton Marine Inc.; North Pacific Crane Company; Thistle Marine Ltd.; Dongnam Marine Crane Co. Ltd.; OUCO Industry Co. Ltd.; Cormach S.r.l.; SKK Corporation; Effer S.p.A.; Fassi Gru S.p.A.; Hiab AB; Hyva Group
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; 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.
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