(MENAFN- America News Hour) Market
Study Report adds new research on Offshore Crane market, which is a detailed
analysis of this business space inclusive of the trends, competitive landscape,
and the market size. Encompassing one or more parameters among product
analysis, application potential, and the regional growth landscape, Offshore
Crane market also includes an in-depth study of the industrys competitive
scenario.
Offshore
Crane Market is expected to exceed USD 5 billion by 2026. The ongoing
exploration of new offshore oil & gas fields will surge the demand for
offshore cranes.
The
growing demand for maintenance & repair of oil & gas extraction systems
will drive the offshore crane market growth. The equipment is primarily used in
the maintenance & repair of oil extraction pipes. Increasing investments in
subsea construction projects are compelling the demand for offshore cranes with
high lifting capacity and maximum safety. In November 2019, National Petroleum
Construction Company (NPCC) announced an investment of USD 89.8 million to
boost subsea construction projects in the UAE. NPCC is planning to undertake
several deep-water projects in the region as well as across the globe over the
next few years, providing opportunities for offshore industry development.
However, high installation as well as maintenance & operational cost of
these machines is hampering market growth.
Request
a sample of this premium report at https://www.marketstudyreport.com/request-a-sample/2419650?utm_source=marketwatch.com & utm_medium=Abhijeet
Some
major findings of the offshore crane market report include:
- These
machines are primarily used due to their high precision in heavy-duty
operations such as assembly, repair, and supply of oil & gas extraction
systems
- The
growing demand for renewable energy due to the rising world population and
increasing urbanization will surge the demand for offshore cranes in renewable
energy applications
- These
machines are increasingly being used for pipe maintenance & repair
operations in the offshore oil & gas industry
- Key
players operating in the offshore crane market are Palfinger AG, Heila Group,
Liebherr, National Oilwell Varco, Kenz Figee, Huisman Equipment, Seatrax, Inc.,
and MacGregor.
- Players
are focusing on price and product differentiation strategies to sustain in the
competitive market. They are offering products to help improve energy efficiency
and reliability.
The
demand for knuckle boom cranes is expected to rise significantly over the
forecast timeline due to their low maintenance requirements and maximum
efficiency. These cranes are used in marine applications for loading &
unloading operations. Knuckle cranes offer enhanced strength & flexibility,
thereby increasingly being used in marine as well as oil & gas industries.
Increasing spending on the construction of new port & harbors is further
expected to propel the demand for offshore cranes over the forecast timeline.
The
demand for heavy-duty offshore cranes with the lifting capacity of above 5,000
mt is expected to rise over the next years due to their ability to perform
complex operations in harsh working conditions. The equipment is primarily used
in the construction of large oil & gas as well as wind farm projects in
offshore environments. Increasing government initiatives to promote renewable
energy will drive the equipment demand, majorly in Asia Pacific, Europe, and
the MEA regions.
The
North America offshore crane market is anticipated to grow over the forecast
timeline owing to the increasing demand for electricity across the region. The
U.S. government is primarily focusing on generating maximum electricity from
renewable energy sources including offshore wind. In 2019, Vineyard Wind
proposed an 800 MW wind farm project in Massachusetts to provide power to more
than 400,000 homes with clean energy. The company is expected to invest approximately
USD 2.8 billion for the project development.
Request
a discount on standard prices of this premium report at https://www.marketstudyreport.com/check-for-discount/2419650?utm_source=marketwatch.com & utm_medium=Abhijeet
Report Content
Chapter
1. Methodology and Scope
Chapter
2. Executive Summary
Chapter
3. Offshore Crane Industry Insights
Chapter
4. Offshore Crane Market, By Type
Chapter
5. Offshore Crane Market, By Lifting
Capacity
Chapter
6. Offshore Crane Market, By
Application
Chapter
7. Offshore Crane Market, By Region
Chapter
8. Company Profiles
8.1.
Cargotec Corporation
8.2. Heila Cranes
8.3. Huisman Equipment B.V.
8.4. Kenz Figee Group
8.5. Konecranes
8.6. Liebherr Group
8.7. National Oilwell Varco
8.8. PALFINGER AG
8.9. PLM Cranes B.V.
8.10. Seatrax, Inc.
8.11. Sormec
8.12. ZPMC
buying
decision on this premium report https://www.marketstudyreport.com/enquiry-before-buying/2419650?utm_source=marketwatch.com & utm_medium=Abhijeet
About Us:
Marketstudyreport.com allows you to manage and control all corporate research
purchases to consolidate billing and vendor management. You can eliminate
duplicate purchases and customize your content and license management.
Contact Us:
Market Study Report LLC
4 North Main Street,
Selbyville, Delaware 19975
USA
Phone: 1-302-273-0910
US Toll Free: 1-866-764-2150
Email:
Website: https://www.marketstudyreport.com
Blog: https://www.marketstudyreport.com/blog
Market Study Report LLC
Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.
MENAFN13012020007010068ID1099544885
-MENAFN13012020007010068ID1099544885-->
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.