Offshore Crane Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The offshore crane market is expected to grow at a CAGR of more than 4% during the forecast period of 2022 - 2027. The COVID-19 outbreak in Q1 of 2020 had led to the decline of offshore crane operations and delayed project executions worldwide. Factors such as the increasing exploration and production activities, and the growing emphasis on the offshore renewable energy sector, are likely to drive the offshore crane market during the forecast period. However, a vast investment cost and lack of skilled manpower are expected to hinder the growth of the offshore crane market.
Key HighlightsThe offshore crane market is moderately fragmented. The key players in the market include Liebherr Group, Kenz Figee Group, Heila Cranes SpA, Huisman Equipment B.V., and Cargotec Corporation, among others.
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