Marine Cranes Market Predicted To Witness Steady Growth During The Forecast Period 2030

[Latest Market Trends]

Marine Cranes Market Analysis:

The Marine Cranes Market  is expected to reach USD 7.81 billion by 2030 at a CAGR of 15.60% during the forecast period of 2022 to 2030, due to increasing regulations and government initiatives for various industries.

Market Highlights

Marine cranes are specifically designed for offshore operations. They can be mounted on vessels and carried out into waters for operations such as loading and unloading. They are provided with appropriate protection and other features to operate efficiently in harsh weather conditions at sea. Marine cranes play a very important role in the construction industry because they have enough power and the ability to move the materials of various weights upward, downward, and horizontally.

The global marine cranes market is driven by various factors, such as government support for construction and the rapid growth of the oil & gas industry. However, volatile raw material prices might hamper the market growth during the forecast period. Marine cranes form an important aspect of oil rigs and are used for daily operations, such as lifting drill pipes, casing, and lifting maintenance equipment from ships and many other applications. They are used for handling pipes and lines for setting up oil and gas extraction systems.

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Market Segmentation

Marine Cranes Market, by Lifting Capacity

• 2 Tons–500 Tons
• 501 Tons–15,000 Tons
• 15,001 Tons–30,000 Tons

Marine Cranes Market, by Type

• Knuckle Boom
• Telescopic Boom
• Stick Boom
• Foldable Boom

Marine Cranes Market, by Application

• Oil & Gas Platforms
• Government & Military
• Workboats
• Research & Fishing Vessels

Regional Analysis

The global marine cranes market has been segmented on the basis of region into Americas, Europe, Asia-Pacific, Middle East & Africa and South America.

The North American market is further divided into the US and Canada. The European marine cranes market has been segmented into Germany, France, the UK, Italy, Spain, and the rest of Europe.

The marine cranes market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific.

The Middle East & Africa market includes UAE, Saudi Arabia, South Africa, Qatar, Bahrain, Kuwait, Egypt, and Rest of Middle East & Africa.

The South American market is further divided into Brazil, Argentina, and Rest of South America.

The North America accounted for the market share of 28.46% in 2020 and is anticipated to reach approximately USD 2,106.0 million by 2027 at a 14.83% CAGR during the forecast period.

Asia-Pacific comprises China, Japan, India, and the rest of Asia-Pacific. In 2020, the region held the largest share of the marine cranes market and accounted for 30.6%.

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Key Players:

MRFR recognizes the following companies as the key players in the global marine cranes market— Palfinger AG, Effer SpA, Heila Cranes S.p.A, Hawboldt Industries, HS. Marine S.R.L, KenzFigee Group B.V., Techcrane International, LLC, DMW Marine Group, LLC, Industriaguerra, S.A, and Cargotec Corporation.