Offshore Crane Industry is expected reach $25.79 billion by 2022

According to Publisher, the Global Offshore Crane market is accounted for $13.25 billion in 2015 and is expected to reach $25.79 billion by 2022 growing at a CAGR of 9.9% during the forecast period. Increasing demand for oil & gas and technological advancements are the key factors fueling the market growth. High environmental risk is hindering the market. Rising installation for float-over and lift processes is one of the major trends that can be seen in the Offshore Crane. Knuckle boom is anticipated to command the market, however lattice boom is poised to register the highest growth. North America is the leading market followed by Asia Pacific region. The detection of new oilfields in the basins of Brazil is estimated to fuel the demand for offshore support vessels in South America. Growing demand for support vessels will further impel the demand for these cranes in these regions.

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Some of the key players in the market include Manitowoc, Terex Corporation, Konecranes, Cargotec, Zoomlion, National Oilwell Varco, KENZ-FIGEE, Huisman, Palfinger and Liebherr.

Lifting Capacity Covered:
-0-500mt
-500-3000mt
-Above 3000mt

Application Covered:
-Marine Cranes
-Oil Rig Cranes
-Other Crane Applications

Design Type Covered:
-Lattice Boom
-Knuckle Boom
-Telescopic Boom
-Other Boom Design Type
-Hybrid Stiff Booms
-Fixed Booms

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Regions Covered:
-North America
-US
-Canada
-Mexico
-Europe
-Germany
-France
-Italy
-UK
-Spain
-Rest of Europe
-Asia Pacific
-Japan
-China
-India
-Australia
-New Zealand
-Rest of Asia Pacific
-Rest of the World
-Middle East
-Brazil
-Argentina
-South Africa
-Egypt

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This release was published on openPR.