TABLE OF CONTENTS
1
2
INTRODUCTION ........................................................................................................ 13
1.1
OBJECTIVES OF THE STUDY ...........................................................................................................13
1.2
MARKET DEFINITION .....................................................................................................................13
1.3
MARKET SCOPE............................................................................................................................14
1.3.1
MARKETS COVERED ....................................................................................................... 14
1.3.2
YEARS CONSIDERED FOR THE STUDY .............................................................................. 14
1.4
CURRENCY ...................................................................................................................................15
1.5
LIMITATIONS ................................................................................................................................15
1.6
STAKEHOLDERS ...........................................................................................................................15
RESEARCH METHODOLOGY ...................................................................................... 16
2.1
RESEARCH DATA ..........................................................................................................................16
2.1.1
SECONDARY DATA.......................................................................................................... 17
2.1.1.1
2.1.2
Key data from secondary sources ....................................................................... 17
PRIMARY DATA ............................................................................................................... 18
2.1.2.1
Key data from primary sources ........................................................................... 18
2.1.2.2
Key industry insights .......................................................................................... 19
2.1.2.3
Breakdown of primaries ..................................................................................... 19
2.2
MARKET SIZE ESTIMATION ............................................................................................................21
2.3
MARKET BREAKDOWN AND DATA TRIANGULATION ........................................................................23
2.4
RESEARCH ASSUMPTIONS & LIMITATIONS ...................................................................................24
2.4.1
ASSUMPTIONS............................................................................................................... 24
2.4.2
LIMITATIONS .................................................................................................................. 25
3
EXECUTIVE SUMMARY .............................................................................................. 26
4
PREMIUM INSIGHTS ................................................................................................ 31
5
4.1
ATTRACTIVE MARKET OPPORTUNITIES...........................................................................................31
4.2
ASIA-PACIFIC: THE LARGEST MARKET FOR OFFSHORE CRANE .......................................................32
4.3
CHINA TO DOMINATE THE OFFSHORE CRANE MARKET BY MARKET SIZE IN ASIA–
PACIFIC IN 2014 ..........................................................................................................................33
4.4
KNUCKLE BOOM DESIGN TYPE SEGMENT EXPECTED TO LEAD THE MARKET ...................................34
4.5
LIFE CYCLE ANALYSIS, BY REGION ................................................................................................35
INDUSTRY TRENDS .................................................................................................. 36
5.1
INTRODUCTION ............................................................................................................................36
5.2
SUPPLY CHAIN ANALYSIS .............................................................................................................36
5.3
INDUSTRY TRENDS .......................................................................................................................37
5.4
6
PORTER’S FIVE FORCES ANALYSIS ................................................................................................38
5.4.1
THREAT FROM NEW ENTRANTS ....................................................................................... 39
5.4.2
THREAT OF SUBSTITUTE .................................................................................................. 39
5.4.3
BARGAINING POWER OF BUYERS ................................................................................... 39
5.4.4
BARGAINING POWER OF SUPPLIERS .............................................................................. 40
5.4.5
INTENSITY OF COMPETITIVE RIVALRY .............................................................................. 40
MARKET OVERVIEW.................................................................................................. 41
6.1
INTRODUCTION ............................................................................................................................42
6.2
MARKET SEGMENTATION ..............................................................................................................42
6.3
6.2.1
BY APPLICATION............................................................................................................. 42
6.2.2
BY DESIGN TYPE ............................................................................................................. 43
6.2.3
BY LIFTING CAPACITY...................................................................................................... 43
6.2.4
BY REGION ..................................................................................................................... 43
MARKET DYNAMICS......................................................................................................................43
6.3.1
6.3.2
6.3.3
6.3.4
7
8
DRIVERS ........................................................................................................................ 44
6.3.1.1
Offshore renewable industry growth ................................................................... 44
6.3.1.2
Expansion in offshore exploration and production activities ................................ 44
6.3.1.3
Boost in the subsea construction vessel industry ................................................ 44
RESTRAINTS................................................................................................................... 45
6.3.2.1
Decline in the offshore support vessel demand ................................................... 45
6.3.2.2
High environmental risk ..................................................................................... 46
6.3.2.3
High entry barriers ............................................................................................. 46
OPPORTUNITIES ............................................................................................................. 47
6.3.3.1
Increase in offshore spending ............................................................................ 47
6.3.3.2
Potential oilfield discovery ................................................................................. 47
CHALLENGES ................................................................................................................. 48
6.3.4.1
Safety concerns in offshore industry ................................................................... 48
6.3.4.2
Current low oil price........................................................................................... 48
OFFSHORE CRANE MARKET, BY APPLICATION........................................................... 49
7.1
INTRODUCTION ............................................................................................................................50
7.2
OIL RIG CRANES ...........................................................................................................................51
7.3
MARINE CRANES ..........................................................................................................................52
7.4
OTHERS CRANES ..........................................................................................................................54
OFFSHORE CRANE MARKET, BY LIFTING CAPACITY.................................................... 56
8.1
INTRODUCTION ............................................................................................................................57
8.2
0-500MT LIFTING CAPACITY..........................................................................................................58
8.3
500-3,000MT LIFTING CAPACITY ..................................................................................................59
8.4
ABOVE 3,000MT LIFTING CAPACITY ..............................................................................................60
9
OFFSHORE CRANE MARKET, BY DESIGN TYPE ........................................................... 61
9.1
INTRODUCTION ............................................................................................................................62
9.2
KNUCKLE BOOM DESIGN TYPE......................................................................................................63
9.3
TELESCOPIC BOOM DESIGN TYPE .................................................................................................64
9.4
LATTICE BOOM DESIGN TYPE ........................................................................................................65
9.5
OTHER BOOM DESIGN TYPE ..........................................................................................................66
10 OFFSHORE CRANE MARKET, BY REGION ................................................................... 67
10.1
INTRODUCTION ............................................................................................................................68
10.2
AMERICAS ...................................................................................................................................69
10.3
10.4
10.5
10.2.1
U.S. ............................................................................................................................... 73
10.2.2
MEXICO ......................................................................................................................... 74
10.2.3
BRAZIL ........................................................................................................................... 75
10.2.4
REST OF AMERICAS ........................................................................................................ 75
EUROPE .......................................................................................................................................76
10.3.1
NORWAY ........................................................................................................................ 80
10.3.2
U.K. ............................................................................................................................... 81
10.3.3
REST OF EUROPE ........................................................................................................... 82
ASIA-PACIFIC ...............................................................................................................................82
10.4.1
CHINA ............................................................................................................................ 85
10.4.2
INDIA ............................................................................................................................. 85
10.4.3
AUSTRALIA..................................................................................................................... 86
10.4.4
REST OF ASIA-PACIFIC ................................................................................................... 87
MIDDLE EAST & AFRICA ................................................................................................................87
10.5.1
UAE ............................................................................................................................... 90
10.5.2
SAUDI ARABIA ............................................................................................................... 91
10.5.3
NIGERIA ......................................................................................................................... 91
10.5.4
ANGOLA ......................................................................................................................... 92
10.5.5
REST OF THE MIDDLE EAST & AFRICA ............................................................................. 92
11 COMPETITIVE LANDSCAPE ....................................................................................... 94
11.1
OVERVIEW ....................................................................................................................................95
11.2
MARKET SHARE ANALYSIS ............................................................................................................96
11.3
COMPETITIVE SITUATION & TRENDS ..............................................................................................96
11.3.1
CONTRACTS & AGREEMENTS.......................................................................................... 98
11.3.2
NEW PRODUCT DEVELOPMENT ....................................................................................... 99
11.3.3
MERGERS & ACQUISITIONS .........................................................................................100
11.3.4
EXPANSIONS................................................................................................................100
11.3.5
OTHER DEVELOPMENTS ...............................................................................................101
12 COMPANY PROFILES .............................................................................................. 102
(Company at a Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent
Developments)*
12.1
INTRODUCTION ..........................................................................................................................102
12.2
CARGOTEC .................................................................................................................................103
12.3
KONECRANES ............................................................................................................................107
12.4
LIEBHERR ..................................................................................................................................110
12.5
MANITOWOC ..............................................................................................................................114
12.6
TEREX CORPORATION .................................................................................................................118
12.7
HUISMAN ...................................................................................................................................122
12.8
KENZ FIGEE ................................................................................................................................125
12.9
NATIONAL OILWELL VARCO .........................................................................................................127
12.10
PALFINGER ................................................................................................................................129
12.11
ZOOMLION .................................................................................................................................131
*Details on company at a glance, recent financials, products & services, strategies & insights, & recent
developments might not be captured in case of unlisted companies.
13 APPENDIX .............................................................................................................. 133
13.1
INSIGHTS OF INDUSTRY EXPERTS ...............................................................................................133
13.2
DISCUSSION GUIDE ...................................................................................................................133
13.3
INTRODUCING RT: REAL TIME MARKET INTELLIGENCE .................................................................137
13.4
AVAILABLE CUSTOMIZATIONS .....................................................................................................138
13.5
RELATED REPORTS .....................................................................................................................138
LIST OF TABLES
UU
TABLE 1
OFFSHORE RENEWABLE INDUSTRY GROWTH, EXPANSION IN OFFSHORE
EXPLORATION & PRODUCTION ACTIVITIES ARE PROPELLING THE GROWTH OF
THE MARKET
45
HIGH INITIAL INVESTMENT AND LONGER STARTUP TIME RESTRAIN MARKET
GROWTH
47
INCREASE IN OFFSHORE SPENDING AND DISCOVERY OF NEW OFFSHORE OILFIELDS
ARE OPPORTUNITIES FOR THE OFFSHORE CRANE MARKET
48
SAFETY CONCERNS AND LOW OIL PRICES ARE KEY CHALLENGES FOR OFFSHORE
CRANE MARKET
48
TABLE 5
OFFSHORE CRANE MARKET SIZE, BY APPLICATION, 2013-2020 (USD MILLION)
50
TABLE 6
OIL RIG CRANE MARKET SIZE, BY TOP COUNTRIES, 2013-2020 (USD MILLION)
51
TABLE 7
OFFSHORE RIG COUNT, BY COMPANY & TYPE, 2015
51
TABLE 8
OIL RIG CRANE MARKET SIZE, BY REGION, 2013-2020 (USD MILLION)
52
TABLE 9
MARINE CRANE MARKET SIZE, BY TOP COUNTRIES, 2013-2020 (USD MILLION)
53
TABLE 10
MARINE CRANE MARKET SIZE, BY REGION, 2013-2020 (USD MILLION)
53
TABLE 11
OTHERS CRANES MARKET SIZE, BY TOP COUNTRIES, 2013-2020 (USD MILLION)
54
TABLE 12
OFFSHORE WIND FARMS FROM JANUARY TO JUNE 2015
54
TABLE 13
OTHERS CRANES MARKET SIZE, BY REGION, 2013-2020 (USD MILLION)
55
TABLE 14
OFFSHORE CRANE MARKET SIZE, BY LIFTING CAPACITY, 2013-2020 (USD MILLION)
57
TABLE 15
0-500MT LIFTING CAPACITY OFFSHORE CRANE MARKET SIZE, BY REGION,
2013-2020 (USD MILLION)
58
500-3,000MT LIFTING CAPACITY OFFSHORE CRANE MARKET SIZE, BY REGION,
2013-2020 (USD MILLION)
59
ABOVE 3,000MT LIFTING CAPACITY OFFSHORE CRANE MARKET SIZE, BY REGION,
2013-2020 (USD MILLION)
60
TABLE 18
OFFSHORE CRANE MARKET SIZE, BY DESIGN TYPE, 2013-2020 (USD MILLION)
63
TABLE 19
KNUCKLE BOOM DESIGN TYPE OFFSHORE CRANE MARKET SIZE, BY REGION,
2013-2020 (USD MILLION)
63
TELESCOPIC BOOM DESIGN TYPE OFFSHORE CRANE MARKET SIZE, BY REGION,
2013-2020 (USD MILLION)
64
LATTICE BOOM DESIGN TYPE OFFSHORE CRANE MARKET SIZE, BY REGION,
2013-2020 (USD MILLION)
65
OTHER BOOM DESIGN TYPE: OFFSHORE CRANE MARKET SIZE, BY REGION,
2013-2020 (USD MILLION)
66
TABLE 23
OFFSHORE CRANE MARKET SIZE, BY REGION, 2013-2020 (USD MILLION)
69
TABLE 24
AMERICAS: OFFSHORE CRANE MARKET SIZE, BY COUNTRY,
2013-2020 (USD MILLION)
71
AMERICAS: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
71
TABLE 26
AMERICAS: OIL RIG CRANE MARKET SIZE, BY COUNTRY, 2013-2020 (USD MILLION)
72
TABLE 27
AMERICAS: MARINE RIG CRANE MARKET SIZE, BY COUNTRY,
2013-2020 (USD MILLION)
72
TABLE 28
AMERICAS: OTHERS CRANE MARKET SIZE, BY COUNTRY, 2013-2020 (USD MILLION)
73
TABLE 29
U.S.: OFFSHORE CRANE MARKET SIZE, BY APPLICATION, 2013-2020 (USD MILLION)
73
TABLE 2
TABLE 3
TABLE 4
TABLE 16
TABLE 17
TABLE 20
TABLE 21
TABLE 22
TABLE 25
TABLE 30
MEXICO: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
74
BRAZIL: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
75
REST OF AMERICAS: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
76
TABLE 33
EUROPE: OFFSHORE CRANE MARKET SIZE, BY COUNTRY, 2013-2020 (USD MILLION)
78
TABLE 34
EUROPE: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
78
TABLE 35
EUROPE: OIL RIG CRANES MARKET SIZE, BY COUNTRY, 2013-2020 (USD MILLION)
79
TABLE 36
EUROPE: MARINE CRANES MARKET SIZE, BY COUNTRY, 2013-2020 (USD MILLION)
79
TABLE 37
EUROPE: OTHERS CRANES MARKET SIZE, BY COUNTRY, 2013-2020 (USD MILLION)
79
TABLE 38
NORWAY: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
80
TABLE 39
U.K.: OFFSHORE CRANE MARKET SIZE, BY APPLICATION, 2013-2020 (USD MILLION)
81
TABLE 40
REST OF EUROPE: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
82
ASIA-PACIFIC: OFFSHORE CRANE MARKET SIZE, BY COUNTRY,
2013-2020 (USD MILLION)
82
ASIA-PACIFIC: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
83
ASIA-PACIFIC: OIL RIG CRANE MARKET SIZE, BY COUNTRY,
2013-2020 (USD MILLION)
83
ASIA-PACIFIC: MARINE CRANE MARKET SIZE, BY COUNTRY,
2013-2020 (USD MILLION)
84
ASIA-PACIFIC: OTHERS CRANE MARKET SIZE, BY COUNTRY,
2013-2020 (USD MILLION)
84
CHINA: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
85
INDIA: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
86
AUSTRALIA: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
86
REST OF ASIA-PACIFIC: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
87
MIDDLE EAST & AFRICA: OFFSHORE CRANE MARKET SIZE, BY COUNTRY,
2013-2020 (USD MILLION)
88
MIDDLE EAST & AFRICA: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
88
MIDDLE EAST & AFRICA: OIL RIG CRANE MARKET SIZE, BY COUNTRY,
2013-2020 (USD MILLION)
89
MIDDLE EAST & AFRICA: MARINE CRANE MARKET SIZE, BY COUNTRY,
2013-2020 (USD MILLION)
89
MIDDLE EAST & AFRICA: OTHER CRANE MARKET SIZE, BY COUNTRY,
2013-2020 (USD ‘000)
90
TABLE 55
UAE: OFFSHORE CRANE MARKET SIZE, BY APPLICATION, 2013-2020 (USD MILLION)
90
TABLE 56
SAUDI ARABIA: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
91
NIGERIA: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
91
TABLE 31
TABLE 32
TABLE 41
TABLE 42
TABLE 43
TABLE 44
TABLE 45
TABLE 46
TABLE 47
TABLE 48
TABLE 49
TABLE 50
TABLE 51
TABLE 52
TABLE 53
TABLE 54
TABLE 57
TABLE 58
ANGOLA: OFFSHORE CRANE MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION)
92
REST OF THE MIDDLE EAST & AFRICA: OFFSHORE CRANE MARKET SIZE,
BY APPLICATION, 2013-2020 (USD MILLION)
93
TABLE 60
CONTRACTS & AGREEMENTS, 2014-2015
98
TABLE 61
NEW PRODUCT DEVELOPMENT, 2014-2015
99
TABLE 62
MERGERS & ACQUISITIONS, 2013-2015
100
TABLE 63
EXPANSIONS, 2013-2015
100
TABLE 64
OTHER DEVELOPMENTS, 2013-2015
101
TABLE 59
LIST OF FIGURES
FIGURE 1
MARKETS COVERED: OFFSHORE CRANE MARKET
14
FIGURE 2
OFFSHORE CRANE MARKET: RESEARCH DESIGN
16
FIGURE 3
BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION,
& REGION
20
FIGURE 4
MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
21
FIGURE 5
MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
22
FIGURE 6
DATA TRIANGULATION
23
FIGURE 7
OFFSHORE CRANE MARKET SNAPSHOT (2015 VS. 2020): MARINE CRANES
SEGMENT EXPECTED TO OCCUPY THE LARGEST MARKET SHARE
27
FIGURE 8
MARINE CRANE MARKET, BY REGION, 2020 (USD MILLION)
28
FIGURE 9
ASIA-PACIFIC DOMINATED THE OFFSHORE CRANE MARKET IN 2014
29
FIGURE 10
OFFSHORE CRANE MARKET, BY DESIGN TYPE, 2015–2020 (USD MILLION)
30
FIGURE 11
DEVELOPMENT OF UNCONVENTIONAL RESERVES IS EXPECTED TO DRIVE
THE OFFSHORE CRANE MARKET DURING THE FORECAST PERIOD
31
AMERICAS TO BE THE HIGHEST-GROWING REGIONAL MARKET FOR OFFSHORE
CRANE FROM 2015 TO 2020
32
MARINE CRANE APPLICATION ACCOUNTED FOR A MAJOR SHARE (VALUE) IN
THE OFFSHORE CRANE MARKET IN 2014
33
KNUCKLE BOOM SEGMENT EXPECTED TO ACCOUNT FOR A MAJOR SHARE (VALUE)
IN THE OFFSHORE CRANE MARKET DURING THE FORECAST PERIOD
34
FIGURE 15
LIFE CYCLE ANALYSIS, BY REGION, FROM 2015 TO 2020
35
FIGURE 16
OFFSHORE CRANES: SUPPLY CHAIN ANALYSIS
36
FIGURE 17
ACCELERATION IN OFFSHORE WIND INDUSTRY AND SHIFT OF ENERGY PRODUCTION
TO THE NEW AREAS TO DRIVE THE GLOBAL OFFSHORE CRANE MARKET
37
FIGURE 18
OFFSHORE CRANES: PORTER’S FIVE FORCES ANALYSIS
38
FIGURE 19
MARKET SEGMENTATION OF OFFSHORE CRANE MARKET
42
FIGURE 20
MARKET DYNAMICS OF OFFSHORE CRANE MARKET
43
FIGURE 21
BRENT CRUDE OIL PRICES, (USD PER BARREL)
46
FIGURE 22
RELIABLE & HIGH QUALITY MAKE OFFSHORE CRANES MOST FAVORABLE FOR
MARINE USAGE
50
FIGURE 23
OFFSHORE CRANE MARKET SHARE (VALUE), BY LIFTING CAPACITY, 2014
57
FIGURE 24
KNUCKLE BOOM DESIGN TYPE IS THE FASTEST-GROWING SEGMENT IN
THE GLOBAL OFFSHORE CRANE MARKET
62
REGIONAL SNAPSHOT- 2015-2020 (CAGR%) – THE U.S., BRAZIL, INDIA, AND SAUDI
ARABIA EMERGING AS NEW HOT SPOTS
68
FIGURE 26
AMERICAS: REGIONAL SNAPSHOT
70
FIGURE 27
EUROPE: REGIONAL SNAPSHOT
77
FIGURE 28
COMPANIES ADOPTED PARTNERSHIPS/AGREEMENTS/COLLABORATIONS AS THE
KEY GROWTH STRATEGY IN THE PAST THREE YEARS TO DOMINATE THE MARKET
95
FIGURE 29
OFFSHORE CRANE : MARKET SHARE ANALYSIS, 2014
96
FIGURE 30
MARKET EVALUATION FRAMEWORK: AWARD RECOGNITION, NEW PRODUCT
DEVELOPMENTS, MERGERS & ACQUISITIONS HAVE FUELED GROWTH OF
COMPANIES FROM 2012 TO 2015
97
FIGURE 12
FIGURE 13
FIGURE 14
FIGURE 25
FIGURE 31
REGION-WISE REVENUE MIX OF TOP 5 MARKET PLAYERS
102
FIGURE 32
CARGOTECH : COMPANY SNAPSHOT
103
FIGURE 33
CARGOTEC: SWOT ANALYSIS
105
FIGURE 34
KONECRANES : COMPANY SNAPSHOT
107
FIGURE 35
KONECRANES: SWOT ANALYSIS
109
FIGURE 36
LIEBHERR : COMPANY SNAPSHOT
111
FIGURE 37
LIEBHERR: SWOT ANALYSIS
112
FIGURE 38
MANITOWOC : COMPANY SNAPSHOT
115
FIGURE 39
MANITOWOC: SWOT ANALYSIS
117
FIGURE 40
TEREX CORPORATION : COMPANY SNAPSHOT
119
FIGURE 41
TEREX CORPORATION: SWOT ANALYSIS
120
FIGURE 42
NATIONAL OILWELL VARCO: COMPANY SNAPSHOT
127
FIGURE 43
PALFINGER: COMPANY SNAPSHOT
129
FIGURE 44
ZOOMLION : COMPANY SNAPSHOT
132