Onshore Crane Market to be dominated by Oil and Gas segment through 2028
Increasing
exploration and production activities to drive Global Onshore Crane Market in
the forecast period, 2023-2028.
According
to TechSci Research report, “Global Onshore
Crane Market
- By Region, Competition,
Forecast & Opportunities, 2028”, Global Onshore Crane Market is anticipated to grow at a 3.85% CAGR in
the forecast period, 2024-2028, Factors such as the increasing exploration and
production activities, and the growing emphasis on the offshore renewable
energy sector, are likely to drive the Onshore Crane market during the forecast
period.
Browse
over XX market data Figures spread through 180 Pages and an in-depth TOC on "Global Onshore Crane Market.”
Based
on Application, Global Onshore Crane Market is segmented into— Oil and Gas, Renewable
Energy, Other Applications. Oil and Gas Segment to Dominate the Market, the oil
and gas industry deploys Onshore Cranes to assemble, repair, and supply oil and
gas extraction systems. The performance capacity, size, and way the Onshore
Cranes are constructed vary according to the individual requirements. The Onshore
Crane is an integral part of an oil rig. The crane is used for daily operations
like lifting drill pipes and casing, lifting maintenance equipment from ships,
and many more day-to-day operations.
The Onshore
Cranes are installed on drilling rigs, exploration, and production platforms. Onshore
Cranes are designed and engineered to operate in severe ambient conditions.
These are designed, manufactured, and tested according to the International
Standard for lifting appliances and also in respect of specific client
requests. As of 2021, the global oil rig count registered 1,361 units. There
has been a 0.7% increase in oil rig count compared to the previous year. The
increasing oil rig count is expected to drive the Onshore Crane market during
the forecast period. In February 2022, Sparrows Group announced a three-year
contract award from Serica Energy for crane operations and maintenance services
on the North Sea platform, Bruce, United States. The company will provide
resident focal points, onshore engineering, operation, and maintenance
services, including on-site engineering and technical support, refurbishment
and repairs, and lifting equipment inspection. Thus, the oil and gas segment
are expected to dominate the Onshore Crane market during the forecast period.
Based
on Region, Asia Pacific region is expected to dominate the market for Onshore
Crane during the forecast period. The Asia-Pacific region is expected to
witness the fastest growth rate in the Onshore Crane market, with China being
the largest market. The rising demand for oil & gas and offshore renewable
energy, especially in the Asia-Pacific region, is expected to gain considerable
momentum. Countries such as China and India are some of the significant markets
for offshore renewable energy developments in the region, along with
substantial installations from offshore wind energy. In April 2021, Red Rock
Marine AS signed a contract to deliver a 30T compact telescopic Onshore Crane
for the OHT offshore wind foundation installation vessel, Alfa Lift. The ship
is currently being built at China's China Merchant Heavy Industry shipyard.
In
December 2021, Huisman has been awarded a contract from COSCO Shipping (Qidong)
Offshore to design and construct two 2,000 tonne capacity leg encircling cranes
(LEC). The crane will be built at Huisman’s production facility in Zhangzhou,
China. The cranes will be commissioned at COSCO’s shipyard in Qidong, China. Hence,
owing to the above points, Asia-Pacific is expected to be the fastest-growing
market for Onshore Crane market during the forecast period.
Major
companies operating in the Global Onshore Crane market are:
- Liebherr
Group
- Kenz
Figee Group
- Heila
Cranes SpA
- Huisman
Equipment B.V.
- Cargotec
Corporation
- Sparrows
Offshore Group Limited
- Konecranes
- NOV Inc.
- The
Manitowoc Company, Inc.
- Seatrax,
Inc.
Download Free Sample Report
Customers can also request 10% free
customization on this report.
“The global Onshore Crane market is driven
by several key factors that shape its growth and development. Firstly, the
expansion of offshore wind energy projects worldwide is a significant driver. Onshore
Cranes are essential for the installation and maintenance of massive wind
turbines in deep-sea locations, meeting the growing demand for clean energy
sources. Secondly, the oil and gas industry continue to drive the Onshore Crane
market. As exploration and production operations move into deeper waters, the
demand for high-capacity cranes for lifting heavy equipment and materials
remains robust. Technological advancements play a crucial role, with
innovations like automation and digitalization improving crane efficiency and
safety. Additionally, sustainability concerns drive the development of
eco-friendly crane solutions. The Asia-Pacific region, particularly China and
India, is witnessing substantial offshore growth, further boosting crane
demand. Stringent safety regulations and the need for compliance drive
continuous improvements in crane safety features and operations. Lastly,
large-scale infrastructure projects, such as bridges and offshore structures,
require specialized cranes, contributing to market expansion. These drivers
collectively underpin the global Onshore Crane market's growth and evolution.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
Onshore Crane Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast Segmented by Type
(Board Onshore Cranes, Knuckle Boom Crane, Telescopic Boom, Crane, Lattice Boom
Crane, Luffing Crane, Others), By Lifting Capacity (0 - 500 MT, 500 - 2,000 MT,
2,000 - 5,000 MT, above 5,000 MT), Application (Oil and Gas, Renewable Energy,
Other Applications), By Region, Competition, 2018-2028”,
has evaluated the future growth potential of global Onshore Crane market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global Onshore Crane market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email:
[email protected]
Website:
https://www.techsciresearch.com