Offshore Cranes Market Size, Share & Forecast Report - 2025 to 2030

The global offshore cranes market size was valued at over USD 2 billion in 2024 and expected to register a significant CAGR of around 6% during the forecast period from 2025 to 2030. The significant growth in offshore oil and gas exploration around the globe is a primary factor to drive the market growth. Furthermore, the growing investment in offshore wind farms and increasing demand for green energy is further expected to boost the market growth over the forecast period. As per the information shared by the International Energy Agency (IEA), it is expected that the offshore wind industry is projected to reach around USD 1 trillion by 2040.

Market Outlook:

Emerging Trends Reshaping the Offshore Cranes Market’s Evolution:

The offshore cranes market is witnessing growth driven by the expansion of offshore oil & gas and renewable energy sectors, particularly offshore wind farms. Increasing exploration and production activities in deepwater and ultra-deepwater regions are creating demand for heavy-lift, high-capacity cranes capable of operating under harsh marine conditions. Modern offshore cranes are being equipped with advanced automation, remote monitoring, and safety systems to enhance operational efficiency, minimize downtime, and reduce risks associated with human errors. Additionally, manufacturers are focusing on corrosion-resistant materials and robust structural designs to ensure long-term performance and reliability in challenging offshore environments.

Another key trend is the adoption of eco-friendly and energy-efficient crane technologies. Hybrid and electric-driven cranes are gaining traction as operators seek to reduce fuel consumption and comply with stricter environmental regulations. Digitalization and integration with IoT and predictive maintenance platforms are enabling real-time monitoring, load management, and proactive servicing, which help optimize crane performance and reduce operational costs. Furthermore, modular and multi-purpose crane designs that can handle various lifting applications—from deck operations to subsea installation—are becoming increasingly popular, reflecting the market’s shift toward versatile, cost-effective, and technologically advanced lifting solutions.

Offshore Cranes Market Key Drivers:

• Expansion of offshore oil and gas exploration and production: Offshore cranes play a crucial role in the exploration and production of oil and gas reserves located in offshore areas. The increasing global energy demand drives the expansion of offshore oil and gas activities, leading to the demand for offshore cranes for various lifting and handling operations on drilling rigs, production platforms, and floating production units.
• Growing offshore wind energy sector: The offshore wind energy sector has experienced significant growth in recent years, as countries seek to diversify their energy sources and reduce reliance on fossil fuels. Offshore cranes are essential for the installation, maintenance, and repair of offshore wind turbines and associated infrastructure. The expansion of the offshore wind energy sector contributes to the demand for offshore cranes.
• Development of offshore support vessels: Offshore support vessels, including platform supply vessels, accommodation barges, and anchor handling tug supply vessels, require cranes for cargo handling, equipment transfer, and personnel transfer operations. The development of offshore support vessel fleets, driven by offshore oil and gas activities, offshore wind farms, and other offshore operations, drives the demand for offshore cranes.
• Increasing deepwater and ultra-deepwater exploration: As shallow water oil and gas reserves become depleted, the industry is moving towards exploring and developing deepwater and ultra-deepwater reserves. Deepwater and ultra-deepwater operations require specialized offshore cranes capable of operating in harsh offshore environments and lifting heavy loads in water depths exceeding traditional capabilities.
• Focus on offshore safety and efficiency: Offshore operations involve complex and challenging environments that require robust and safe lifting equipment. Offshore cranes with advanced safety features, such as anti-collision systems, load monitoring systems, and emergency shutdown mechanisms, are in high demand to ensure safe lifting operations. Additionally, the efficiency and productivity gains offered by modern offshore cranes contribute to their adoption.
• Technological advancements in offshore crane design: Continuous advancements in crane design and technology, such as the use of lightweight materials, advanced control systems, and intelligent automation, have improved the performance, reliability, and safety of offshore cranes. These technological advancements attract operators and contractors, driving the replacement and upgrade of older cranes with newer, more efficient models.
• Stricter regulatory standards and compliance requirements: The offshore industry is subject to stringent regulatory standards and compliance requirements, particularly related to safety and environmental considerations. Offshore cranes must meet these standards and regulations to obtain necessary certifications and approvals. The need for compliance drives the demand for offshore cranes that adhere to the latest regulatory requirements.
• Increasing investments in offshore infrastructure: Governments and private entities are investing in the development of offshore infrastructure, including oil and gas platforms, offshore wind farms, subsea installations, and offshore production facilities. These investments create opportunities for offshore crane manufacturers and suppliers, as cranes are an integral part of the infrastructure development process.

Future Opportunities Reshaping the Offshore Cranes Market’s Evolution:

The offshore cranes market presents significant opportunities driven by the rapid growth of offshore oil & gas exploration and production, particularly in deepwater and ultra-deepwater regions. Rising investments in offshore wind energy projects, especially in Europe and Asia-Pacific, are creating demand for specialized cranes capable of handling heavy components such as turbine blades, jackets, and subsea modules. Additionally, the aging fleet of existing offshore cranes is driving replacement and retrofitting opportunities, as operators seek safer, more efficient, and higher-capacity lifting solutions to meet modern operational requirements. Emerging markets with growing offshore infrastructure development also offer potential for new installations and long-term service contracts.

Another major opportunity lies in the integration of digital and automated technologies into offshore cranes. Smart cranes with IoT connectivity, predictive maintenance, and remote operation capabilities allow operators to optimize performance, reduce downtime, and enhance safety in challenging offshore environments. Manufacturers that provide modular, multi-functional, and eco-friendly crane solutions—including hybrid or electric-powered systems—can capture demand from energy-conscious operators. Furthermore, partnerships with offshore engineering and construction firms, as well as service-oriented offerings such as maintenance, upgrades, and operator training, present avenues for expanding market share and long-term revenue streams in the evolving offshore lifting sector.

Market Segments Insights:

The global offshore cranes market is bifurcated into type, capacity, application, and geography. On the basis of type, the market is further segmented into the knuckle, telescopic, lattice, and other cranes. The knuckle boom cranes segment dominated the market and is expected to maintain its dominance over the forecast period. The increasing adoption of knuckle boom cranes in marine applications to lift heavy loads is a major factor to drive the segment growth. Furthermore, better stability, operability, and enhanced maneuverability are some other factors to drive the segment growth.

On the basis of application, the market is segmented into oil & gas, marine cranes, and others. The oil and gas segment dominated the global offshore cranes market in 2024 and accounted to hold the largest revenue share of over one-third percent of the market. The increase in offshore exploration and production activities around the world is a primary factor to drive the segment growth. Furthermore, the increasing investment in offshore drilling projects by government and other private companies to explore more resources is expected to boost the segment growth over the forecast period.

The offshore cranes comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2025 to 2030. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

Offshore Cranes Market Segmentation:

By Type:

• Knuckle
• Telescopic
• Lattice
• Others

By Capacity:

• Up to 1,000 MT
• 1,000 MT to 2,000 MT
• 2,000 MT to 3,000 MT
• Above 3,000 MT

By Application:

• Oil & Gas
• Marine Cranes
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage: Asia Pacific Leads the Offshore Cranes Market

Geographically, the offshore cranes market report comprises dedicated sections centering on the regional market revenue and trends. The market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. The market estimates have also been provided for the historical years along with forecasts for the period from 2025 – 2030.

Competition Assessment:

Some of the major market players operating in the global offshore cranes market are Liebherr, MacGregor, Konecranes PLC, Kenz Figee, and Heila Group. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Liebherr
• MacGregor
• Konecranes PLC
• Kenz Figee
• Heila Group
• Palfinger AG
• Huisman Equipment
• Terex Corporation
• PLM Cranes B.V.
• Seatrax, Inc.

Key Questions Answered by Offshore Cranes Market Report

• Global offshore cranes market forecasts from 2025-2030
• Regional offshore cranes market forecasts from 2025-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2025-2030 covering 15 major countries from the aforementioned regions
• Offshore cranes submarket forecasts from 2025-2030 cover the market by type, by capacity, by application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to the market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level markets from 2025-2030
• Competitive Landscape and market positioning of top 10 players operating in the market