Offshore Crane Market Future Scope, Top Trends & Regional Outlook 2023-2032

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Offshore Crane Market is expected to be USD 4
Billion by 2032
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Industry Overview

• Offshore Crane Market is anticipated to register
  a positive trajectory from 2023 to 2032 owing to
  the increasing offshore construction activities
  across China and Latin America. For the record,
  the National Energy Administration announced that
  offshore wind annual installations increased to
  more than 16.5 gigawatts in 2021 in China.
• Rising inclination towards developing
  energy-efficient infrastructure will
  substantially increase the demand for offshore
  cranes across the world. Besides, the surging
  deep-sea oil and gas exploration, increasing
  production activities, and demand for offshore
  wind projects will propel the market outlook over
  the estimated timeframe.
• The companies operating in the market are also
  significantly investing in the development of
  cranes, which will positively influence the
  market demand through 2032. For instance, in
  February 2023, Heavy Lift Projects (HLP) secured
  additional funding from private investors,
  Capercaillie and Giles W Pritchard-Gordon Co.,
  for completing the engineering work on the
  company's first project, a new design of a ring
  crane for assembling and loading offshore
  windfarm components.

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• Overall, the offshore crane industry is segmented
  in terms of type, lifting capacity, application,
  and business.
• Based on type, the lattice boom crane segment
  will showcase strong growth through 2032 owing to
  the increasing implementation in the oil gas
  industry. Besides its benefits, such as increased
  mobility and greater stability for lifting
  heavier loads, these cranes are deployed on
  drilling rigs, exploration, and production
  platforms, which is anticipated to influence the
  offshore crane market over the projected
  timeframe.
• On the basis of lifting capacity, the 500-2000 mt
  segment will grow owing to its robust
  applications in oil rigs for lifting, lowering,
  and transferring cargo from platforms. Besides,
  the 500-2000 mt cranes can be employed in marine
  applications such as oil production, offloading,
  storage, and drilling facilities. In addition,
  the increasing use of offshore cranes as large
  construction vessels for rigs and platforms will
  positively contribute to segment growth.
• Considering the application, the renewable energy
  segment will depict over 4 CAGR throughout the
  forecast time.

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Offshore Crane Market

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