Global Crown Block Market Size, Trends and Growth Opportunity, By Product Type (Under 30T, 30T-100T, above 100T), By Application (Onshore, Offshore), By Region and Forecast till 2030.
Global Crown Block Market
The Global Crown Block Market was valued at USD 1.48 billion in 2022 and is slated to reach USD 2.25 billion by 2030 at a CAGR of 5.40 from 2023-2030.
The crown block, which is located above and opposite the moving block in a tackle and block, is the stationary portion of the unit and is made up of a drill line that is reeved or strung through a system of sheaves or pulleys. Lifting hundreds or even thousands of pounds of weight is possible when using a travelling block, wire rope drill line, and crown block together. Hook loads that are more than one million pounds are rare when running thick casing strings.
Market Drivers
Crown blocks are expected to expand at a faster rate during the projected period due to the rising demand for them and their features. These crown block systems include a variety of functions, including weight mode, speed control, zone control, automatic safety interlock, data logging, and sand-line version, which help measure the position precisely. When the drilling vessel undergoes heaving offshore and is exposed to severe weather, crown blocks assist in lifting huge loads. In oil and gas drilling rigs, crown blocks are a common component. These elements could accelerate market expansion. Throughout the projected period, the market expansion will be further fueled by the expanding use of crown blocks in the oil and gas industries. The oil derrick's power is significantly increased when a crown block is used. Workers can extract more oil because of the position of the crown block in pulleys, which also makes it possible for the cables to bear enormous forces. Stronger cables would be needed for the oil derrick without a crown block. Moreover, the hoisting drum may be raised and lowered with great leverage when employing the crown block, maximising production and efficiency in the oil and gas industry. Hence, expanding the use of royal blocks in the oil and gas sectors will spur market expansion.
Market Restraints
The crown block's high maintenance needs are one of the key downsides related to its use. For the sheaves to move through the pulleys easily and freely, the crown block devices must be kept greased. High friction from insufficient lubrication could lead to cable failure or breakage. because of this aspect. During the anticipated time, this restrains the market growth.
Market Segmentation
Global Crown Block Market is segmented into Product Types and Applications. By Product Types such as Under 30T, 30T-100T, and Above 100T. By Applications such as Onshore, offshore.
Regional Analysis
Global Crown Block Market is segmented into five regions Americas, Europe, Asia-Pacific, and the Middle East & Africa. Asia-Pacific is predicted to lead the crown block market because government support and changes are promoting industry completion. Due to the expansion of drilling programmes for discovering new oil wells at onshore terminals and rising government assistance, North America and Europe will also become larger contributing regions.
Key Players
This report includes a list of numerous Key Players, namely American Block (U.S.), Jereh Global Development LLC (China), NOV Inc. (U.S.), Scientific Drilling International (U.S.), Aker Solutions (Norway), General Electric (U.S.), KINGWELL OILFIELD MACHINERY CO., LTD (China), CARE Industries (Canada).
Market Taxonomy
By Product Type
• Under 30T
• 30T-100T
• Above 100T
By Application
• Onshore
• Offshore
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa.
Global Crown block Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Crown block Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crises
4.2.5 Cumulative Impact due to nearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Crown block Market, By Product Type
5.1 Y-o-Y Growth Comparison, By Product Type
5.2 Global Crown block Market Share Analysis, By Product Type
5.3 Global Crown block Market Size and Forecast, By Product Type
5.3.1 Under 30T
5.3.2 30T-100T
5.3.3 Above 100T
6 Global Crown block Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Crown block Market Share Analysis, By Application
6.3 Global Crown block Market Size and Forecast, By Application
6.3.1 Onshore
6.3.2 Offshore
7 Global Crown block Market, By Region
7.1 Global Crown block Market Share Analysis, By Region
7.2 Global Crown block Market Share Analysis, By Region
7.3 Global Crown block Market Size and Forecast, By Region
8 North America Crown block Market, Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Crown block Market Share Analysis, By Product Type
8.3 North America Crown block Market Size and Forecast, By Application
8.4 North America Crown block Market Size and Forecast, By Country
8.4.1 U.S.
8.4.2 Canada
8.4.3 Mexico
9 Europe Crown block Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Crown block Market Share Analysis, By Product Type
9.3 Europe Crown block Market Size and Forecast, By Application
9.4 Europe Crown block Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4 Rest of Europe
10 Asia Pacific Crown block Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Crown block Market Share Analysis, By Product Type
10.3 Asia Pacific Crown block Market Size and Forecast, By Application
10.4 Asia Pacific Crown block Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Rest of Asia Pacific
11 Latin America Crown block Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Crown block Market Share Analysis, By Product Type
11.3 Latin America Crown block Market Size and Forecast, By Application
11.4 Latin America Crown block Market Size and Forecast, Country
11.4.1 Brazil
11.4.2 Rest of Latin America
12 Middle East Crown block Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Crown block Market Share Analysis, By Product Type
12.3 Middle East Crown block Market Size and Forecast, By Application
12.4 Middle East Crown block Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.2 UAE
12.4.3 Egypt
12.4.4 Kuwait
12.4.5 South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 American Block (U.S.)
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Jereh Global Development LLC (China)
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 NOV Inc. (U.S.)
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Scientific Drilling International (U.S.)
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Aker Solutions (Norway)
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 General Electric (U.S.)
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Kingwell Oilfield Machinery Co., Ltd (China)
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 CARE Industries (Canada)
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
