Offshore Crane Market Growth Fueled By Surging Investments In Offshore Drilling Projects: The Driving Engine Behind Offshore Crane Market Evolution in 2025

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

Offshore Crane Market Size Growth Forecast: What to Expect by 2025?
The size of the offshore crane market has experienced substantial growth lately. Its growth is expected to rise from $26.05 billion in 2024 to about $27.96 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%. The notable growth during the historical phase is credited to the increase in offshore oil and gas explorations, the rise in offshore wind energy initiatives, intensive deepwater exploration and production, the need for efficient material management, safety and automation necessities, and worldwide expansion of offshore drilling operations.

How Will the Offshore Crane Market Size Evolve and Grow by 2029?
In the coming years, the offshore crane market is anticipated to experience substantial growth, reaching a valuation of $38.38 billion in 2029, with a compound annual growth rate (CAGR) of 8.2%. This expected growth during the forecast period can be ascribed to factors such as increased emphasis on environmental sustainability, the need for compact and lightweight choices, amplified investments in offshore infrastructure, worldwide oil and gas demand, and the implementation of hybrid crane systems. Key trends for the forecast period entail advancements in crane technology, autonomous and remote-controlled cranes, lifecycle amenities and maintenance contracts, global market expansion, the incorporation of condition monitoring systems, and tailored solutions for specific projects.

View the full report here:
https://www.thebusinessresearchcompany.com/report/offshore-crane-global-market-report

What Drivers Are Propelling the Growth of Offshore Crane Market Forward?
The increasing investments in offshore drilling endeavors are anticipated to stimulate the expansion of the offshore crane market in the future. Offshore drilling, which involves the extraction of petroleum and natural gas from oceanic reserves instead of land-based reserves, utilizes either a movable or stationary platform situated off the coastline. The principal function of an offshore crane is to lift and transport containers, drilling machinery, and pipe sections. For example, in March 2022, Offshore Energy reported that a UAE-based entity, Abu Dhabi National Oil Company (ADNOC), is channeling funds into drilling growth with new awards worth $658 million. These awards are inclusive of ADNOC's onshore and offshore fields. As such, the mounting investments in offshore drilling ventures are fueling the rise of the offshore crane market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8130&type=smp

What Long-Term Trends Will Define the Future of the Offshore Crane Market?
Technological advancement is a key trend gaining popularity in the offshore crane market. Major companies operating in the market are introducing technological innovations to reduce offshore carbon dioxide (CO2) releases during production and sustain their position in the market. For instance, in July 2022, Huisman Equipment BV, a Czech Republic-based heavy construction equipment company, launched a 700-meter travelling quayside crane for the load-out of offshore wind turbine components. The load-out procedure of offshore wind turbine components is completed much more quickly with this 700-meter travelling quayside crane compared to the conventional methods, which include crawler cranes or tandem lifting by two cranes with a capacity of 200- to 300-meters. Therefore, the advanced capacity of the crane results in a reduction of CO2 emissions.

What Are the Key Segments in the Offshore Crane Market?
The offshore cranemarket covered in this report is segmented -
1) By Type: Board Offshore Cranes, Knuckle Boom Crane, Telescopic Boom Crane, Lattice Boom Crane, Luffing Crane, Other Types
2) By Lifting Capacity: 0 - 500 MT, 500 - 2,000 MT, 2,000 - 5,000 MT, Above 5,000 MT
3) By Application: Oil And Gas, Marine, Renewable Energy, Other Applications

Subsegments:
1) By Board Offshore Cranes: Fixed Board Cranes, Swinging Board Cranes
2) By Knuckle Boom Crane: Articulated Knuckle Boom Cranes, Compact Knuckle Boom Cranes
3) By Telescopic Boom Crane: Hydraulic Telescopic Cranes, Manual Telescopic Cranes
4) By Lattice Boom Crane: Fixed Lattice Boom Cranes, Floating Lattice Boom Cranes
5) By Luffing Crane: Luffing Jib Cranes, Tower Luffing Cranes
6) By Other Types: A-Frame Cranes, Gantry Cranes, Specialized Offshore Cranes

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=8130&type=smp

Who Are the Key Players Shaping the Offshore Crane Market's Competitive Landscape?
Major companies operating in the offshore crane market are Palfinger AG, Cargotec Oyj, The Liebherr Group, Konecranes Oyj, Kenz Figee Group BV, Heila Group, NOV Inc., Zoomlion Heavy Industry Science and Technology Company Limited, Seatrax Inc., Xuzhou Construction Machinery Group Co. Ltd., American Crane Corporation, MELCAL SpA, PLM Cranes BV, Sormec SRL, Huisman Equipment B.V., Sparrows Offshore Group Limited, The Manitowoc Company Inc., Zhenhua Heavy Industries Co. Ltd., SANY Heavy Equipment Co. Ltd., Tadano Ltd., DMW Marine Group LLC, Allied Systems Company, HS.MARINE SRL, EK Marine Ltd., Appleton Marine Inc., North Pacific Crane Company, Thistle Marine Ltd., Dongnam Marine Crane Co. Ltd., OUCO Industry Co. Ltd., Cormach S.r.l., SKK Corporation, Effer S.p.A., Fassi Gru S.p.A., Hiab AB, Hyva Group

What Geographic Markets Are Powering Growth in the Offshore Crane Market?
Asia-Pacific was the largest region in the offshore crane market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the offshore crane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8130

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.