Global Marine Cranes Market Size study & Forecast, by Type (Knuckle boom, Telescopic boom, Foldable boom, Stiff boom) by Lifting Capacity (2 tons–500 tons, 501 tons–15,000 tons, 15,001 tons–30,000 tons), by Application (Oil & gas platforms, Workboats, res

Global Marine Cranes Market Size study & Forecast, by Type (Knuckle boom, Telescopic boom, Foldable boom, Stiff boom) by Lifting Capacity (2 tons–500 tons, 501 tons–15,000 tons, 15,001 tons–30,000 tons), by Application (Oil & gas platforms, Workboats, research, Fishing vessels, Government & military) and Regional Analysis, 2023-2030

Global Marine Cranes Market is valued approximately at USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Marine cranes, also known as ship cranes or offshore cranes are specialized lifting equipment designed for use in marine environments, such as on ships, offshore platforms, or harbor facilities. These cranes are specifically engineered to handle the challenges and requirements of working at sea, where they must withstand harsh weather conditions, corrosive environments, and high load capacities. The significant factors influencing the growth of the marine crane market include increased subsea construction and oil exploration operations, as well as rising demand for renewable energy. Furthermore, rapid advancements in offshore exploration and a surge in high wind activities are expected to boost demand in the marine crane industry.

Moreover, the rising offshore exploration projects have a significant impact on the growth of the Marine Cranes Market. As the global demand for energy continues to rise, there is a need to explore new offshore oil and gas fields. This drives the demand for marine cranes, as they are essential equipment for various offshore operations, including lifting and moving heavy equipment, supplies, and materials. For instance, in Jan. 2021, Egypt has announced plans of drilling for oil and natural gas at nine new locations in the Mediterranean and Red Sea, with a total investment of USD 1.4 billion in the country's offshore industry. The announcement was made by the state's Ministry of Petroleum and Mineral Resources, which aims to drill a total of 23 additional wells across both the oceans. The ministry also stated that it had reached agreement on a total of 12 agreements, with only three still in process, supported by a partnership between Egypt's state-owned oil company Tharwa and a number of global energy companies such as Shell and Total. Additionally, rising subsea construction is anticipated to create the lucrative opportunity for the market during forecast period. However, the complex installation process and requirement for skilled technicians & labors to prevent damages stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Marine Cranes Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the growing offshore oil and gas exploration, expanding shipping and logistics industry, infrastructure development, and growth in the renewable energy sector. Whereas, the Asia Pacific region is expected to grow at fastest growth rate during the forecast period, owing to factors such as the rapidly expanding ports and shipping industry, infrastructure development and investments, offshore oil and gas exploration, and growing renewable energy sector.

Major market player included in this report are:
Huisman Equipment BV
Kenz Figee Group B.V.
The Manitowoc Company
Liebherr
Konecranes
Zoomlion
TEREX Corporation
National Oilwell Varco
Palfinger AG
Cargotec

Recent Developments in the Market:
In Nov. 2020, Thunder Crane Company unveiled an offshore portable modular crane with an integrated turret to save rig up and rig down time. This crane has been developed with customised Appleton hoists that are light in weight and enable for increased line speed and rope capacity in the oil and gas sector.

Global Marine Cranes Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Type, Lifting Capacity, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Knuckle boom
Telescopic boom
Foldable boom
Stiff boom
By Lifting Capacity:
2 tons–500 tons
501 tons–15,000 tons
15,001 tons–30,000 tons
By Application:
Oil & gas platforms
Workboats, research
Fishing vessels
Government & military
By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Huisman Equipment BV
Kenz Figee Group B.V.
The Manitowoc Company
Liebherr
Konecranes
Zoomlion
TEREX Corporation
National Oilwell Varco
Palfinger AG
Cargotec

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