According to a new report published by UnivDatos Markets Insights the Offshore crane Market is expected to grow at a CAGR of more than 8% from 2021-2027. The analysis has been segmented into Type (Knuckle Boom, Telescopic, Lattice, and Others); Lifting Capacity (0-500mt, 500-3000mt, and Above 3000m); Application (Oil Rig Cranes, Marine Cranes, and Others); Region/Country.

The Offshore Crane market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Offshore crane market. The Offshore Crane market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Offshore crane market at the global and regional levels.

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Market Overview

An offshore crane is defined as a pedestal-mounted elevating and rotating lifting device used to transfer materials and personnel to or from marine vessels, barges, and structures. These offshore applications include bottom-supported, floating platform and ship-hulled vessels used in production and drilling operations, shipboard applications, and heavy-lift applications. Offshore crane demand is growing at a significant rate owing to the rising subsea construction & oil survey operations that are supporting the market development globally.

These subsea construction machines are mainly used owing to their great precision in heavy-duty operations like assembly, repair, & supply of oil & gas removal systems. In addition, the increasing demand for renewable energy is supporting offshore crane usage for the construction & manufacture of large wind turbines in an offshore situation is escalating the market size of the offshore crane market.

COVID-19 Impact

The COVID-19 pandemic has considerably impacted the market size offshore. Several countries enforced nationwide lockdowns as part of measures to limit the spread of the coronavirus. Lockdown and travel restrictions across the globe have led to a reduction in demand for investment in new renewable energy projects which had negatively influenced the market size of an offshore cranes.

The global Offshore Crane market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·        Based on the type, the offshore crane market is segmented into knuckle boom, telescopic, lattice, and others. The knuckle boom segment caters significant share of the offshore crane market and is expected to witness influential growth in the forecasted period as well. It is mainly owing to their strength & flexibility as these cranes have more stability and are easy to operate which in turn is escalating its demand in industries.

·        Based on the lifting capacity, the offshore crane market is segmented into 0-500mt, 500-3000mt and Above 3000m. Offshore cranes with a lifting capacity of 2,000 – 5,000 mt are seeing high development to perform heavy-duty deployments like building wind parks or the assembly of oil rigs. The systems are mainly used in the oil & gas industry owing to their maximum safety & precise handling capabilities.

·        Based on the application, the offshore crane market is segmented into oil rig cranes, marine cranes, and others. Oil rigs cater significant share of the offshore crane market. It is mainly owing to worldwide growing offshore E&P activities that will increase the demand for oil rigs. Moreover, With the increase in oil rigs, the market for rig construction equipment and construction vessels will also increase which in turn, will propel the market for cranes on oil rigs.

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Offshore crane Market Geographical Segmentation Includes:

·        North America (United States, Canada)

·        Europe (Germany, United Kingdom, Italy, France, Spain, and the Rest of Europe)

·        Asia-Pacific (China, India, Australia, Japan, and the Rest of Asia-Pacific)

·        LAMEA (Mexico, Brazil, UAE, Saudi Arabia, and Rest of LAMEA)

For a better understanding of the market dynamics of the Offshore crane market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), LAMEA (Mexico, Brazil, UAE, Saudi Arabia, and Rest of LAMEA). The Asia Pacific is expected to hold an extensive share in the offshore crane market and is expected to grow at an influential rate in the forecasted period as well. Factors such as increasing demand for oil & gas and offshore renewable energy, in the region, are expected to gain considerable momentum.

The major players targeting the market include

·        HEILA Cranes S.p.a.

·        Huisman Equipment B.V.

·        Kenz Figee Group

·        Konecranes

·        Liebherr Group

·        Manitowoc Cranes

·        National Oilwell Varco

·        PLM Cranes B.V.

·        Seatrax, Inc.

·        Sormec

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the offshore crane market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Offshore crane market?

• Which factors are influencing the offshore crane market over the forecast period?

• What are the global challenges, threats, and risks in the offshore crane market?

• Which factors are propelling and restraining the offshore crane market?

• What are the demanding global regions of the offshore crane market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

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