Valley Cottage, NY -- (SBWIRE) -- 07/03/2018 -- Lattice Cranes Market: Introduction
As the offshore exploration activities are gaining traction across the globe, the demand of effective material transfer equipment has increased considerably from the past years. Owing to this the demand of compact cranes, which can lift significant amount of load has increased considerably. This is one of the prime reasons which is anticipated to drive the demand of lattice cranes over the coming years. Lattice cranes are rotating lifting device which are used to transfer materials from marine vessels, structures and structures and barges. The cranes are being designed so as to operate for a certain period of duty time which may range from 200 hours to 5000 hours. Moreover, there are numerous other factors which govern the growth of the market, these include: increasing investment in the offshore renewable energy sources and augmentation in the construction vessel industry across the globe. Moreover, the global crane market is expanding across the globe owing to increasing demand from numerous end use industries such as oil and gas and construction, this will certainly have a positive impact on the growth of the global lattice cranes market over the assessment period
Lattice Cranes Market: Dynamics
With the recent developments and ongoing research to make the lattice cranes lighter and cheaper without compromising on its load carrying capacity, the growth in the global lattice crane market is something to look forward in the coming years. Moreover, lattice cranes are most predominantly used in the offshore oil and gas sector. Owing to this, as the exploration activities expand in the oil and gas sector the demand of lattice cranes is expected to augment in the coming years. Furthermore, as the shift towards the use of non-renewable energy sources to the renewable offshore sources such as wind power increases, the demand of lifting devices such as lattice cranes is expected to augment significantly in the coming years. Also, as the construction of offshore vessels grows across the globe, the demand of the lattice cranes is expected to further boost in the coming years.
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Many countries are increasing their offshore spending, owing to this the demand of devices such as lattice cranes for efficient transfer of materials across the oilfield. Moreover, in order to meet the increasing demand of the fuel across the globe, and increasing usage of energy, many countries across the globe are focusing on exploring new oilfields. This is expected to further increase the demand of the high capacity load carrying devices such as lattice cranes over the assessment period
However, with the rising safety concerns in the offshore industry, the demand of the lattice cranes can be hampered across the globe, which may derail the growth of the market over the coming years. Moreover, as the oil prices fluctuates, the demand of offshore support devices is also affected in the coming years. This can have a negative impact on the growth of the lattice cranes market over the assessment period.
Lattice Cranes Market: Segmentation
On the basis of the application, global lattice cranes market can be segmented as:
Oil rig cranes
On the basis of the capacity, global lattice cranes market can be segmented as:
Up to 500mt
Lattice Cranes Market: Regional Outlook
Lattice cranes are being utilized extensively in areas where oil exploration activities are being carried out. Owing to this the demand of lattice cranes is expected to be more in oil producing nations such as UAE, Saudi Arabia, and Venezuela. This is expected to subsequently create opportunities for augmentation of the lattice cranes market in the MEA region. Moreover, the demand and investment in the offshore renewable energy sources is increasing significantly in the North America and Europe region, this will further create opportunities for the augmentation of the lattice cranes market over the assessment period.
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Lattice Cranes Market: Key Participants
Prangl Gesellschaft m.b.H
The Liebherr Group
Manitowoc Crane Group
TTS Group ASA
Gulf Crane Services & Manufacturing
Techcrane International, Llc.
Patrick Fabricating and Welding
Kobe Steel, Ltd.
PLM Cranes B.V.