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Global Marine Cranes Market to reach USD XX billion by the end of 2030

Global Marine Cranes Market Size study & Forecast, by Type (Knuckle boom, Telescopic boom, Foldable boom, Stiff boom) by Lifting Capacity (2 tons–500 tons, 501 tons–15,000 tons, 15,001 tons–30,000 tons), by Application (Oil & gas platforms, Workboats, research, Fishing vessels, Government & military) and Regional Analysis, 2023-2030

Product Code: ALTAWT-45429866
Publish Date: 10-08-2023
Page: 200

Global Marine Cranes Market is valued approximately at USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Marine cranes, also known as ship cranes or offshore cranes are specialized lifting equipment designed for use in marine environments, such as on ships, offshore platforms, or harbor facilities. These cranes are specifically engineered to handle the challenges and requirements of working at sea, where they must withstand harsh weather conditions, corrosive environments, and high load capacities. The significant factors influencing the growth of the marine crane market include increased subsea construction and oil exploration operations, as well as rising demand for renewable energy. Furthermore, rapid advancements in offshore exploration and a surge in high wind activities are expected to boost demand in the marine crane industry.

Moreover, the rising offshore exploration projects have a significant impact on the growth of the Marine Cranes Market. As the global demand for energy continues to rise, there is a need to explore new offshore oil and gas fields. This drives the demand for marine cranes, as they are essential equipment for various offshore operations, including lifting and moving heavy equipment, supplies, and materials. For instance, in Jan. 2021, Egypt has announced plans of drilling for oil and natural gas at nine new locations in the Mediterranean and Red Sea, with a total investment of USD 1.4 billion in the country’s offshore industry. The announcement was made by the state’s Ministry of Petroleum and Mineral Resources, which aims to drill a total of 23 additional wells across both the oceans. The ministry also stated that it had reached agreement on a total of 12 agreements, with only three still in process, supported by a partnership between Egypt’s state-owned oil company Tharwa and a number of global energy companies such as Shell and Total. Additionally, rising subsea construction is anticipated to create the lucrative opportunity for the market during forecast period. However, the complex installation process and requirement for skilled technicians & labors to prevent damages stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Marine Cranes Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the growing offshore oil and gas exploration, expanding shipping and logistics industry, infrastructure development, and growth in the renewable energy sector. Whereas, the Asia Pacific region is expected to grow at fastest growth rate during the forecast period, owing to factors such as the rapidly expanding ports and shipping industry, infrastructure development and investments, offshore oil and gas exploration, and growing renewable energy sector.

Major market player included in this report are:
Huisman Equipment BV
Kenz Figee Group B.V.
The Manitowoc Company
TEREX Corporation
National Oilwell Varco
Palfinger AG
Recent Developments in the Market:
Ø In Nov. 2020, Thunder Crane Company unveiled an offshore portable modular crane with an integrated turret to save rig up and rig down time. This crane has been developed with customised Appleton hoists that are light in weight and enable for increased line speed and rope capacity in the oil and gas sector.
Global Marine Cranes Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Lifting Capacity, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Knuckle boom
Telescopic boom
Foldable boom
Stiff boom
By Lifting Capacity:
2 tons–500 tons
501 tons–15,000 tons
15,001 tons–30,000 tons
By Application:
Oil & gas platforms
Workboats, research
Fishing vessels
Government & military
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Marine Cranes Market, by Region, 2020-2030 (USD Billion)
1.2.2. Marine Cranes Market, by Type, 2020-2030 (USD Billion)
1.2.3. Marine Cranes Market, by Lifting Capacity, 2020-2030 (USD Billion)
1.2.4. Marine Cranes Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Marine Cranes Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Marine Cranes Market Dynamics
3.1. Marine Cranes Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increased subsea construction and oil exploration operations Surge in high wind activities
3.1.2. Market Challenges Complex installation process Requirement for skilled technicians & labors
3.1.3. Market Opportunities Rising subsea construction
Chapter 4. Global Marine Cranes Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Marine Cranes Market, by Type
5.1. Market Snapshot
5.2. Global Marine Cranes Market by Type, Performance – Potential Analysis
5.3. Global Marine Cranes Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Marine Cranes Market, Sub Segment Analysis
5.4.1. Knuckle boom
5.4.2. Telescopic boom
5.4.3. Foldable boom
5.4.4. Stiff boom
Chapter 6. Global Marine Cranes Market, by Lifting Capacity
6.1. Market Snapshot
6.2. Global Marine Cranes Market by Lifting Capacity, Performance – Potential Analysis
6.3. Global Marine Cranes Market Estimates & Forecasts by Lifting Capacity 2020-2030 (USD Billion)
6.4. Marine Cranes Market, Sub Segment Analysis
6.4.1. 2 tons–500 tons
6.4.2. 501 tons–15,000 tons
6.4.3. 15,001 tons–30,000 tons
Chapter 7. Global Marine Cranes Market, by Application
7.1. Market Snapshot
7.2. Global Marine Cranes Market by Application, Performance – Potential Analysis
7.3. Global Marine Cranes Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Marine Cranes Market, Sub Segment Analysis
7.4.1. Oil & gas platforms
7.4.2. Workboats, research
7.4.3. Fishing vessels
7.4.4. Government & military
Chapter 8. Global Marine Cranes Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Marine Cranes Market, Regional Market Snapshot
8.4. North America Marine Cranes Market
8.4.1. U.S. Marine Cranes Market Type breakdown estimates & forecasts, 2020-2030 Lifting Capacity breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Marine Cranes Market
8.5. Europe Marine Cranes Market Snapshot
8.5.1. U.K. Marine Cranes Market
8.5.2. Germany Marine Cranes Market
8.5.3. France Marine Cranes Market
8.5.4. Spain Marine Cranes Market
8.5.5. Italy Marine Cranes Market
8.5.6. Rest of Europe Marine Cranes Market
8.6. Asia-Pacific Marine Cranes Market Snapshot
8.6.1. China Marine Cranes Market
8.6.2. India Marine Cranes Market
8.6.3. Japan Marine Cranes Market
8.6.4. Australia Marine Cranes Market
8.6.5. South Korea Marine Cranes Market
8.6.6. Rest of Asia Pacific Marine Cranes Market
8.7. Latin America Marine Cranes Market Snapshot
8.7.1. Brazil Marine Cranes Market
8.7.2. Mexico Marine Cranes Market
8.8. Middle East & Africa Marine Cranes Market
8.8.1. Saudi Arabia Marine Cranes Market
8.8.2. South Africa Marine Cranes Market
8.8.3. Rest of Middle East & Africa Marine Cranes Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Huisman Equipment BV Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Kenz Figee Group B.V.
9.3.3. The Manitowoc Company
9.3.4. Liebherr
9.3.5. Konecranes
9.3.6. Zoomlion
9.3.7. TEREX Corporation
9.3.8. National Oilwell Varco
9.3.9. Palfinger AG
9.3.10. Cargotec
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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