Market Overview:
The global subsea cranes market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for oil and gas across the globe. Additionally, there is an increase in exploration and production activities in deepwater and ultra-deepwater regions, which is driving the demand for subsea cranes. The boom hoist crane segment is expected to hold a major share of the global subsea cranes market during the forecast period. This can be attributed to its ability to handle heavy loads with ease.
Product Definition:
Subsea Cranes are used to lift and move heavy objects underwater. They are important for construction, maintenance, and repair of offshore oil rigs and other structures.
Boom Hoist Crane:
Boom hoist crane is a lifting device that consists of boom and chain. It is mainly used in offshore oil & gas industry for various operations such as installation, maintenance, repair and production (IMR) work. The boom is the main arm which can be lowered to pick up or lower objects from the seabed or surface. On the other hand, chain can be used to lift heavy loads over and across obstacles.
Knuckle Boom Crane:
The knuckle boom crane is a device that is used to raise and lower subsea cranes. It consists of two main parts, namely the boom and the base. The base has wheels so that it can be moved around on the seabed.
Application Insights:
The oil rig application segment accounted for the largest revenue share in 2017 and is projected to continue its dominance over the forecast period. The growth of this segment can be attributed to a rise in demand for deep-water drilling as it allows operators to drill further with fewer rigs, thereby reducing overall costs.
Oil companies such as BP, StatoilHydro, Repsol YPF among others are focusing on increasing their offshore production capacity by deploying more efficient technologies such as subsea wells. This has led to an increase in demand for subsea cranes across these companies which is expected to boost market growth over the forecast period.
The marine application segment was valued at USD 1,227.4 million in 2017.
Regional Analysis:
Asia Pacific and North America are anticipated to be the key regional markets over the forecast period. The Asia Pacific region is likely to witness a growth rate of 6.8% from 2018 to 2030 in terms of revenue owing to increasing offshore activities in countries, such as China, India, Malaysia and Indonesia. In addition, rising demand for oil & gas across emerging economies is expected favorably impact market growth over the coming years.
The U.S., being one of the major petroleum producers worldwide has huge reserves of oil under water that needs exploration using subsea technologies thus driving its regional market growth during the forecast period from 2018-2030 (see Figure 1). Furthermore, growing marine operations due to high demand for transportation services across various industries will further drive this industry which will have a positive impact on overall industry development in near future (see Figure 2).
Europe was valued at USD X million in 2017.
Growth Factors:
- Increasing demand for subsea cranes from the oil and gas industry as a result of increasing exploration and production activities in deepwater and ultra-deepwater regions.
- Rising investments in the development of new offshore oilfields, which is expected to lead to an increase in demand for subsea cranes over the forecast period.
- Growing popularity of subsea crane systems among drilling contractors due to their ability to improve safety and efficiency during well construction operations.
- Proliferation of floating production, storage, and offloading (FPSO) vessels across various offshore regions, which is expected to create opportunities for growth in the market for subsea cranes over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Subsea Cranes Market Research Report
By Type
Boom Hoist Crane, Knuckle Boom Crane, Hybrid Boom Crane, Others
By Application
Oil Rig, Marine, Others
By Companies
Konecranes, Cargotec (MacGregor), Liebherr, TTS Group, KenzFigee Group, Palfinger, National Oilwell Varco, Heila, TSC, Huisman Equipment, Konecranes, Seatrax, Kongsberg, MELCAL, Rolls-Royce Marine AS
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
201
Number of Tables & Figures
141
Customization Available
Yes, the report can be customized as per your need.
Global Subsea Cranes Market Report Segments:
The global Subsea Cranes market is segmented on the basis of:
Types
Boom Hoist Crane, Knuckle Boom Crane, Hybrid Boom Crane, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil Rig, Marine, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Konecranes
- Cargotec (MacGregor)
- Liebherr
- TTS Group
- KenzFigee Group
- Palfinger
- National Oilwell Varco
- Heila
- TSC
- Huisman Equipment
- Konecranes
- Seatrax
- Kongsberg
- MELCAL
- Rolls-Royce Marine AS
Highlights of The Subsea Cranes Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Boom Hoist Crane
- Knuckle Boom Crane
- Hybrid Boom Crane
- Others
- By Application:
- Oil Rig
- Marine
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Subsea Cranes Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Subsea cranes are a type of offshore oil and gas drilling rig. They are used to move heavy equipment and supplies underwater.
Some of the major players in the subsea cranes market are Konecranes, Cargotec (MacGregor), Liebherr, TTS Group, KenzFigee Group, Palfinger, National Oilwell Varco, Heila, TSC, Huisman Equipment, Konecranes, Seatrax, Kongsberg, MELCAL, Rolls-Royce Marine AS.
The subsea cranes market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Subsea Cranes Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Subsea Cranes Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Subsea Cranes Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Subsea Cranes Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Subsea Cranes Market Size & Forecast, 2018-2028
4.5.1 Subsea Cranes Market Size and Y-o-Y Growth
4.5.2 Subsea Cranes Market Absolute $ Opportunity
Chapter 5 Global Subsea Cranes Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Subsea Cranes Market Size Forecast by Type
5.2.1 Boom Hoist Crane
5.2.2 Knuckle Boom Crane
5.2.3 Hybrid Boom Crane
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Subsea Cranes Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Subsea Cranes Market Size Forecast by Applications
6.2.1 Oil Rig
6.2.2 Marine
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Subsea Cranes Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Subsea Cranes Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Subsea Cranes Analysis and Forecast
9.1 Introduction
9.2 North America Subsea Cranes Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Subsea Cranes Market Size Forecast by Type
9.6.1 Boom Hoist Crane
9.6.2 Knuckle Boom Crane
9.6.3 Hybrid Boom Crane
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Subsea Cranes Market Size Forecast by Applications
9.10.1 Oil Rig
9.10.2 Marine
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Subsea Cranes Analysis and Forecast
10.1 Introduction
10.2 Europe Subsea Cranes Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Subsea Cranes Market Size Forecast by Type
10.6.1 Boom Hoist Crane
10.6.2 Knuckle Boom Crane
10.6.3 Hybrid Boom Crane
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Subsea Cranes Market Size Forecast by Applications
10.10.1 Oil Rig
10.10.2 Marine
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Subsea Cranes Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Subsea Cranes Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Subsea Cranes Market Size Forecast by Type
11.6.1 Boom Hoist Crane
11.6.2 Knuckle Boom Crane
11.6.3 Hybrid Boom Crane
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Subsea Cranes Market Size Forecast by Applications
11.10.1 Oil Rig
11.10.2 Marine
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Subsea Cranes Analysis and Forecast
12.1 Introduction
12.2 Latin America Subsea Cranes Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Subsea Cranes Market Size Forecast by Type
12.6.1 Boom Hoist Crane
12.6.2 Knuckle Boom Crane
12.6.3 Hybrid Boom Crane
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Subsea Cranes Market Size Forecast by Applications
12.10.1 Oil Rig
12.10.2 Marine
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Subsea Cranes Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Subsea Cranes Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Subsea Cranes Market Size Forecast by Type
13.6.1 Boom Hoist Crane
13.6.2 Knuckle Boom Crane
13.6.3 Hybrid Boom Crane
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Subsea Cranes Market Size Forecast by Applications
13.10.1 Oil Rig
13.10.2 Marine
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Subsea Cranes Market: Competitive Dashboard
14.2 Global Subsea Cranes Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Konecranes
14.3.2 Cargotec (MacGregor)
14.3.3 Liebherr
14.3.4 TTS Group
14.3.5 KenzFigee Group
14.3.6 Palfinger
14.3.7 National Oilwell Varco
14.3.8 Heila
14.3.9 TSC
14.3.10 Huisman Equipment
14.3.11 Konecranes
14.3.12 Seatrax
14.3.13 Kongsberg
14.3.14 MELCAL
14.3.15 Rolls-Royce Marine AS
