Crown Block Market Size & Share, by Type (Onshore, Offshore); Application (Under 30T, 30T-100T, Above 100T) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 1357
  • Published Date: Nov 03, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Crown Block Market size is anticipated to cross USD 4 Billion by the end of 2036, growing at a CAGR of 2% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the crown block was over USD 2 Billion. The increasing demand for crown blocks due to their features is likely to drive market growth. Numerous functions, including weight mode, speed control, zone control, automatic safety interlock, data logging, and sand-line version, are included with these crown block systems that help measure the position precisely. When the drilling vessel heaves offshore due to severe weather, a crown block aids in lifting huge loads.

Significant investments in the oil and gas sector have been attracted by the steady improvement in global crude oil prices. Oil and gas businesses are encouraged to boost their investments in offshore, onshore, and deep-water drilling due to the increasing benefits and earnings. This has increased demand for crown blocks and other oil and gas drilling rigs, equipment, and component needs. As a result, increased market expansion investments by oil and gas businesses are anticipated to produce profitable prospects.

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Crown Block Market: Growth Drivers and Challenges

Growth Drivers

  • Declining Cost of Raw Materials - Oil and gas corporations have increased their investment in oil and gas projects as a result of the rise in crude oil prices worldwide. Due to the higher amounts of profits these businesses may realize at high global crude oil prices, they expanded their investments. Demand for oil and gas drilling rigs rises as a result of increased drilling activity. The need for rig equipment and accessories grows as a result. Borr Drilling reported in April 2022 that it had received new contracts and extensions for five of its top-tier jacks-up drilling rigs. An unknown operator in Southeast Asia has signed a contract with the premium jack-up drilling rig Gunnlod. Therefore, this factor is expected to drive the crown block market growth.
  • Advancement in Crown Block Technologies - Crown blocks must be constantly monitored while they are functioning because of how crucial the operation is. Multiple monitoring systems are being created as a result to guarantee the security of the operational circumstances of crown blocks. The monitoring and alarm systems available for crown blocks keep an eye on travelling blocks attached to the oilfield block and alert personnel to any unsafe or unexpected levels. These monitoring and control systems include automatic safety interlock, zone control, data logging, speed control, weight mode, and sand-line version, among other features. The accurate assessment of the crown block position and the automatic safety restrictions for floor and crown impact prevention are just two benefits that these technologies offer to crown blocks and rigs.
  • Increasing use in the Oil and Gas Industry - 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 are able to 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. Without a crown block, the oil derrick would require stronger cables. Additionally, the hoisting drum may be raised and lowered with great leverage when employing the crown block, maximizing production and efficiency in the oil and gas industry. Therefore, expanding the use of crown blocks in the oil and gas sectors will spur crown block market expansion.


  • Environmental Concerns due to Drilling - Chemicals that can harm the respiratory system and nervous system and pose health risks include hydrochloric acid, ethylene glycol, methanol, and isopropanol. As a powerful GHG with a larger potential for causing global warming than carbon dioxide, methane is thought to be deadlier than carbon emissions. Climate change may be significantly impacted by the methane that hydraulic fracturing releases into the atmosphere. Operators are encouraged to keep an eye out for potential methane leaks during upstream oil and gas operations in order to monitor and manage the release of methane into the environment during the production process.
  • High Maintenance Requirements may Hamper the Market Growth
  • Higher Costs Associated with the Product may Hamper the Market Growth

Crown Block Market: Key Insights

Base Year


Forecast Year



~ 2%

Base Year Market Size (2023)

 ~ USD 2 Billion

Forecast Year Market Size (2036)

 ~ USD 4 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Crown Block Segmentation

Type (Onshore, Offshore)

Crown block market from the onshore segment is expected to hold the largest share of 52% during the forecast period. The global increase in demand for oil and gas products is the main reason driving the expansion of the onshore section of the global crown block market. In order to satisfy this demand, more shale oil production as well as conventional and unconventional oil and gas production activities are being carried out.

Application (Under 30T, 30T-100T, Above 100T)

The 30T-100T segment in the crown block market is anticipated to hold a share of 46% during the forecast period. The economic development in these nations is being fueled by new oil and gas exploration projects. As a result, there is a need for high-quality drilling equipment, particularly crown blocks. The market for crown blocks will grow as a result. Consumer behavior in the 30T-100T category is also changing considerably. Customers desire drilling equipment that is dependable, effective, tough, and able to withstand the circumstances of oil and gas exploration. They also want equipment that is affordable, dependable, and low maintenance. Crown blocks in the 30T-100T sector are more popular because they satisfy these consumer needs.

Our in-depth analysis of the global crown block market includes the following segments:


  • Onshore
  • Offshore


  • Under 30T
  • 30T-100T
  • Above 100T

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Crown Block Industry - Regional Synopsis

European Market Forecast

Crown block market in Europe is projected to hold a share of 35% during the forecast period. For the rapidly growing construction sector, new and cutting-edge technology is produced every day. The crown block, a crucial part of the drilling process, serves as an example of this technique. On drilling rigs, crown blocks are used to support the drill string while allowing it to move freely up and down. They are crucial to the smooth operation of this equipment. Crown blocks are in great demand all around the world and are necessary for drilling operations. The sectors such as mining, drilling, and construction have made a substantial contribution to the continent's economic expansion and growth. As a result, Europe has a strong and reliable drilling equipment production and export base. Europe is home to some of the top crown block producers in the world, which has greatly influenced the advancement of crown block technology.

APAC Market Statistics

The crown block market in Asia Pacific is expected to grow at a steadfast rate during the forecast period. The region is poised to hold the second-largest share of 26% during the forecast period. The market growth can be attributed to the growing number of drilling activities in order to explore new oil wells in the region. The aid and changes provided by the government are also boosting the business's completion. For instance, with 46 units of marketed and contracted rigs, the utilization rate of marketed offshore oil rigs was 92% in Asia Pacific. Therefore, all these factors are driving the market growth in the region.

Research Nester
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Companies Dominating the Crown Block Market

    • Nabors Industries Ltd
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Zhongman Petroleum Equipment Group Co. Ltd
    • Boart Longyear
    • VAALCO Energy, Inc.
    • Chevron Corporation


In The News

  • On March 9, 2023, there was encouraging news from Kuwait after passing the pre-qualification of PEMEX Equipment Supply and Equipment Leasing. The pre-qualification process for providing drilling rigs and rig parts by Kuwait Oil Company (KOC) was successfully completed by Zhongman Petroleum Equipment Group Co. Ltd. (ZPEC), creating the groundwork for ZPEC's entry into the Kuwaiti market.
  • A new LM Deephole underground drilling rig has been launched by Boart Longyear, the top global supplier of drilling services, tools, and equipment. Boart Longyear continues to provide products with productivity, dependability, and safety that dominate the industry. With the addition of a new PQ drill head, the new rig will expand upon the existing well-liked LM110 and Nitro-ChuckTM platforms. For NQ size, the drill will enable a 50% improvement in drilling depth. The rig is equipped with a rod handler for increased safety and, like all LM drills, can be controlled remotely via the DCiTM (Drill Control Interface).

Author Credits:  Payel Roy, Dhruv Bhatia

  • Report ID: 1357
  • Published Date: Nov 03, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Declining cost of raw materials, advancement in crown block technologies, and increasing use in the oil and gas industry are some of the factors driving the market growth.

The market size of crown block is anticipated to attain a CAGR of 2% over the forecast period, i.e., 2024-2036.

The onshore segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Europe region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Crown Block Market Report Scope

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