The research study conducted by Report Ocean on the “ Marine Cranes Market ” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
Marine cranes, also known as ship cranes or offshore cranes are specialized lifting equipment designed for use in marine environments, such as on ships, offshore platforms, or harbor facilities. These cranes are specifically engineered to handle the challenges and requirements of working at sea, where they must withstand harsh weather conditions, corrosive environments, and high load capacities. The significant factors influencing the growth of the marine crane market include increased subsea construction and oil exploration operations, as well as rising demand for renewable energy. Furthermore, rapid advancements in offshore exploration and a surge in high wind activities are expected to boost demand in the marine crane industry.
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Moreover, the rising offshore exploration projects have a significant impact on the growth of the Marine Cranes Market. As the global demand for energy continues to rise, there is a need to explore new offshore oil and gas fields. This drives the demand for marine cranes, as they are essential equipment for various offshore operations, including lifting and moving heavy equipment, supplies, and materials. For instance, in Jan. 2021, Egypt has announced plans of drilling for oil and natural gas at nine new locations in the Mediterranean and Red Sea, with a total investment of USD 1.4 billion in the country’s offshore industry. The announcement was made by the state’s Ministry of Petroleum and Mineral Resources, which aims to drill a total of 23 additional wells across both the oceans. The ministry also stated that it had reached agreement on a total of 12 agreements, with only three still in process, supported by a partnership between Egypt’s state-owned oil company Tharwa and a number of global energy companies such as Shell and Total. Additionally, rising subsea construction is anticipated to create the lucrative opportunity for the market during forecast period. However, the complex installation process and requirement for skilled technicians & labors to prevent damages stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Marine Cranes Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the growing offshore oil and gas exploration, expanding shipping and logistics industry, infrastructure development, and growth in the renewable energy sector. Whereas, the Asia Pacific region is expected to grow at fastest growth rate during the forecast period, owing to factors such as the rapidly expanding ports and shipping industry, infrastructure development and investments, offshore oil and gas exploration, and growing renewable energy sector.
Major market player included in this report are:
Huisman Equipment BV
Kenz Figee Group B.V.
The Manitowoc Company
Liebherr
Konecranes
Zoomlion
TEREX Corporation
National Oilwell Varco
Palfinger AG
Cargotec
Recent Developments in the Market:
In Nov. 2020, Thunder Crane Company unveiled an offshore portable modular crane with an integrated turret to save rig up and rig down time. This crane has been developed with customised Appleton hoists that are light in weight and enable for increased line speed and rope capacity in the oil and gas sector.
Global Marine Cranes Market Report Scope:
Historical Data: 2020 – 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Lifting Capacity, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below.
By Type:
Knuckle boom
Telescopic boom
Foldable boom
Stiff boom
By Lifting Capacity:
2 tons-500 tons
501 tons-15,000 tons
15,001 tons-30,000 tons
By Application:
Oil & gas platforms
Workboats, research
Fishing vessels
Government & military
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
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