Offshore Crane Market Size, Share, and Industry Analysis By Design (Knuckle, Telescopic, Lattice, and Others), By Application (Oil and Gas, Marine, Renewable Energy, and Others), and Regional Forecast, 2025-2032

The global offshore cranes market is expanding because there is a resurgence and ongoing investment in offshore energy exploration and production. Such cranes are built to be strong and precise for use in the harsh sea environment. Since they are built to handle serious weight, ranging from hundreds to thousands of metric tons, these cranes are important in maritime work such as building, maintaining and ending the life of offshore oil and gas platforms, wind turbine farms and other marine facilities.

Due to strong worldwide growth in offshore wind, there is now a great new chance for the industry to grow. Increased effort to rely on renewables and offshore wind around the globe has made skilled cranes more in demand for setting up and maintaining parts of wind turbines, including their foundations, towers, blades and nacelles.

Offshore Crane Market Driver

Development of Offshore Energy Projectsto Expand the Market

The industry for offshore cranes is driven by the continuous development of offshore energy projects, especially projects in oil and gas as well as those using offshore wind. Because land-accessible oil and gas deposits are dwindling, enterprises now resort to deeper waters for their resources.

Technological Advancementsto Advance the Market

The offshore crane market is being strongly driven by new technological developments. Equipment makers work constantly to raise lifting capacity, make processes more efficient and focus on making operations safer. This means including advanced control systems, the ability to position the vessel dynamically and advanced automation which together support precise and safe activities offshore.

Offshore Crane Market Restraint

toPose Potential Impediments on this Market

The offshore crane market is restrained by the high costs of setting up and looking after these mechanically advanced cranes. It is not only tough to buy offshore cranes due to their enormous presence and exactly engineered parts, but installing them is no easy task either and takes skilled workers.

Offshore Crane Market Opportunity

Emerging Markets to Create Opportunity in this Market

Opportunities in emerging markets are particularly strong in the Asia-Pacific region, the Middle East, Africa and parts of Latin America for the global offshore crane market. Because of economic growth, these regions are using more energy and paying more attention to keeping energy supplies safe. Offshore oil and gas exploration and wind farm plans in Asia-Pacific, especially in China and India, have brought about a strong demand for solutions meant to lift heavy equipment.

Segmentation

Key Insights

The report covers the following key insights:

• Market drivers, restraints and opportunities
• Influence of key industrial players and key developments
• Gas exploration
• Growth of the offshore wind energy sector

Analysis by Design

By Design, the Offshore Crane market is divided into Knuckle, Telescopic, Lattice & Others

Knuckles get their name from the fact that their boom moves in many sections, just like a human finger. The key factor in their offshore growth is their major advantage in handling precise loads in small, tight places found on both platforms and vessels.

Telescopic boom cranes have a simple boom that can be lengthened and shortened, giving them high reach and lifting height. The growth of this sector in offshore work mainly comes from the rising need for cranes capable of lifting very heavy objects and working at far distances, mainly on big offshore tasks.

Analysis by Application

Based on Application, the market is divided into Oil and Gas, Marine, Renewable Energy, & Others

Oil and gas demand from around the world, together with the discovery of new deposits and necessary updates to current infrastructure, guarantees that this sector needs expensive and efficient offshore cranes.

Using cranes for marine applications, which is different from oil and gas extraction, helps enlarge the offshore crane market. With more global trade, updated port infrastructure and the swift switch to renewable energy happening, the marine industry now requires more specialized and adaptable offshore cranes.

Regional Analysis

Based on region, the Offshore Crane market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Offshore crane markets in North America are widely shaped by the region’s strict health and safety guidelines. Organizations such as U.S. Bureau of Safety and Environmental Enforcement have strict rules for all offshore equipment such as cranes. Because of the strict regulations, it is common for organisations to upgrade or change old crane systems, which boosts market growth and increases the use of updated technologies. Thanks to initiatives aimed at renewable energy and offshore wind (such as the U.S. Department of Energy’s offshore wind projects), important funding is now provided to offshore wind farm projects. As a result, installing wind turbines at sea is done at a faster pace, boosting the demand for types of cranes that can handle their large parts, which widens the market in both the short and long term by creating more offshore renewable energy infrastructure. The area still has a significant, but changing, role in offshore oil and gas.

• According to U.S. Census Bureau, there were 128 offshore crane installations in the oil & gas sector in USA, 2023.
• According to Statistics of Canada, there were 82 number of offshore cranes in operation in Canada, 2023.

Renewable energy, particularly offshore wind power, is the reason why Europe leads the way in the offshore crane market. Major offshore wind farms are developed by European nations, and large, specialised cranes are necessary to install and service them. Great interest in renewable energy from the EU Green Deal and activity in North Sea oil and gas help fuel the demand for advanced lifting products. Many European countries have well-established industries for advanced equipment, and main businesses regularly introduce environmentally favourable and safer designs.

Due to increased energy requirements and the country’s plans for new infrastructure projects, Asia-Pacific will soon contribute greatly to global offshore crane growth. Large investments in exploration for oil and gas offshore, plus offshore wind energy projects, are being made by China and India. More than any other nation, China currently has the most offshore wind capacity and seeks to build much more, creating a huge need for offshore cranes with high lifting abilities. Since the region is constantly using more energy, there is a push to find more oil and gas, and government aid for renewables is leading to new offshore wind projects. Because Asia-Pacific is expanding its offshore activities and introducing more renewable energy, the region is now a very attractive location for offshore crane manufacturers and service providers.

Key Players Covered

The report includes the profiles of the following key players:

• Palfinger Marine AG (Austria)
• Liebherr (Switzerland)
• MacGregor (U.S.)
• Konecranes PLC (Finland)
• Huisman Equipment (Netherlands)
• KenzFigee (Zaandam)
• Heila Cranes (Italy)
• Cargotec (Finland)
• Zoomlion (China)

Key Industry Developments

In 2023, Palfinger agreed to a ten-year deal with Aker BP that is helping to advance remote-controlled cranes used in offshore operations.

In December 2021, Huisman won a large contract from COSCO Shipping (Qidong) Offshore, one of the leading companies in shipbuilding in China. Part of the agreement was to design and build the 2,000-tonne capacity Leg Encircling Cranes (LECs) needed for offshore work.

In November 2021, of last year, the Sparrows Group was awarded an ONGC contract for the refurbishment of eight pedestal cranes in India.