The report "Offshore Crane Market by Application (Oil rig cranes, Marine cranes and others), by Design Type (Knuckle, Telescopic, Lattice and Others), by Lifting Capacity (0-500mt, 500-3000mt and above 3000mt) & by Region - Global Forecast to 2020", defines and segments the offshore cranes market with analysis and forecast of the global capex on offshore cranes application, design type, and lifting capacity. The offshore crane market is expected to grow from an estimated USD 14.19 Billion in 2015 to USD 21.64 Billion by 2020 at a projected CAGR of 8.8%. The market is driven by the increase in offshore spending and rising demand of oil & gas, which is met by increasing investments in emerging economies with proven oil & gas reserves.
Browse 64 market data tables with 46 figures spread through 178 pages and in-depth TOC on "Offshore Crane Market Global Forecast to 2020"
Sample Pages: http://www.marketsandmarkets.com/requestsample.asp?id=175512004
Other cranes application is growing at the highest pace in offshore cranes market
The market has been segmented into application, design type, lifting capacity, and region. By application market is sub-segmented into oil rig cranes, marine cranes, and other cranes. This segment is estimated to see high growth rate for other cranes, which are used for wind turbine installation and on FPSOs. The driving factor for others cranes market is the boost in the offshore renewable industry, which motivated companies to invest in offshore wind farms to produce more electricity.
Increasing preference for knuckle boom design type offshore crane
On the basis of design type, knuckle boom, telescopic, lattice, and others (fixed and hybrid stiff boom) sub segmentation has been made. Knuckle boom is estimated to lead the market, whereas lattice boom is estimated to have the highest growth. Asia-Pacific and the Americas are expected to drive this sub-segment due to discovery of oil & gas reserves in deep water sedimentary basins and increase in offshore rig count in the U.S., China, Malaysia, Australia, and others.
Asia-Pacific is estimated to be the global leader in offshore crane market by value for the next five years.
Recent discoveries of oil & gas in the offshore basin in Australia, Gulf of Thailand, and South China Sea and high demand from China and India are expected to drive the offshore drilling market. Asia-Pacific is among the largest consumers of oil & gas following North America. This demand will lead to more exploration and production in the region. However, Africa is predicted to attract more investments due to liberal regulatory policies and will witness the highest growth.
To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the offshore crane market such as Cargotec (Finland), Liebherr (Switzerland), Terex Corporation (France), and Konecranes (France) among others. Dominant players are trying to penetrate in the developing economies and adopting various methods to grab market share.
Scope of the report: This study estimates the global market of offshore cranes, in terms of dollar value, till 2020. It also offers a detailed qualitative and quantitative analysis of this market. This report provides a comprehensive review of major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues of the market. The report also covers various important aspects of the market. These include analysis of value chain, Porter’s Five Forces model, competitive landscape, market dynamics, market estimates in terms of value, and future trends in the oilfield services market.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India