Press release
How Offshore Crane Market Growing Rapidly…? Terex Corporation, Liebherr Group, Konecranes PLC, Palfinger AG, National Oilwell Varco, Zoomlion, Huisman
Offshore Crane Market
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In the offshore crane market, knuckle boom design type models are gaining high traction owing to their internal and external lifts functions. These machines are used in adverse weather conditions due to their stability feature. Such features provide better operability and reduce the workload on operators further leading to the growth of the market.
Additionally, these machines provide increased maneuverability, reaching inaccessible points on the vessel. These systems are designed to transfer loads at close distances and are implemented on ships and the motions create complex load handling issues. The increasing personnel safety concerns on the deck or vessel are leading to the high adoption of these machines, thus expanding the market.
The Asia Pacific offshore crane market is witnessing a high growth due to recent discoveries of oil & gas in offshore basins in Australia. Moreover, China and India are posing high demand due to the increased energy need in these countries. The North American region is expected to grow owing to the high adoption for offshore wind farms constructions. For instance, the American Wind Energy Association (AWEA) has implemented offshore windfarms producing 2,000 GW of energy. The systems are utilized in the installation and maintenance of these structures, further supporting the market.
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The key players operating in the offshore crane market share are Terex Corporation, Liebherr Group, Konecranes PLC, Palfinger AG, National Oilwell Varco, Zoomlion, Huisman, Cargotec, and Kenz Figee. These players are focusing on strategic activities, such as merger & acquisition activities and partnerships, to gain a high revenue and an extended reach across the globe.
The offshore crane market players are highly investing in R&D to develop innovative and fuel-efficient products to strengthen the product portfolio and gain a competitive advantage. For instance, in January 2019, Liebherr announced the launch of its new knuckle boom crane series, which is characterized by a very compact design. In April 2019, Cargotec announced the construction of FiberTrac, the first fiber-rope offshore crane. This FiberTrac crane has 150 ton safe working load capacity and an advanced rope monitoring & management systems, which will maximize the rope’s lifespan.
Related News: https://marketersmedia.com/offshore-crane-market-statistics-report-2019-growth-forecast-to-2025/88932063
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