Marine Cranes Market- Forecast till 2027

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The marine cranes market is expected to reach a substantial CAGR of 15.59% during the review period to surpass USD 7,833.3 million by the end of 2027.

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Marine Cranes Market- Forecast till 2027

Market Overview
The marine cranes market is expected to reach a substantial CAGR of 15.59% during the review period to surpass USD 7,833.3 million by the end of 2027. Rapid financial expansion and technology changes in the manufacturing industry have upgraded the efficiency of producers across ventures. Digitalization is helping the assembling area to deliver financially savvy and quality purchaser products. State-run administrations across the globe are taking drives to advance mechanization and digitalization of different industry verticals, for example, electrical and hardware, drugs, car and transportation, machine assembling, and oil and gas. Oil and gas creation is among the most capital-escalated ventures on the planet because of its requirement for costly devices, hardware, processes, and profoundly talented work.

The marine cranes market is driven by the increasing government support for the development and the fast development of the oil and gas industry. Be that as it may, unpredictable unrefined substance costs could hamper the market development during the gauge time frame. Marine cranes structure a significant part of oil fixes and are utilized for day-to-day activities, for example, lifting drill lines, packaging, and lifting support hardware from ships and numerous applications. They are utilized for taking care of lines and lines for setting up oil and gas extraction frameworks.

Market Segmentation
The global Marine Cranes Market is classified based on Lifting Capacity, Type, Application, and Region. Based on lifting capacity the market is segregated into 2 Tons–500 Tons, 501 Tons–15,000 Tons, and 15,001 Tons–30,000 Tons.

The Type segment categorizes the market into Knuckle Boom, Telescopic Boom, Stick Boom, and Foldable Boom. The application segment comprises Oil & Gas Platforms, Government & Military, Workboats, and Research & Fishing Vessels.

Regional Analysis
Geographically, the global marine cranes market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

The North American marine cranes market is spread across the US, Canada, and Mexico. The regional market growth is driven by the growing oil rig exploration industry. The US is expected to lead the regional market owing to the 430 active drilling rigs in the US, out of which the oil rig count is 340 rigs. Also, many manufacturers in the US are investing in research and development to improve fuel efficiency and enhance their product portfolio.

In 2020, Asia-Pacific held the biggest portion of the marine cranes market and represented 30.6%. The rising interest in the market is because of the developing improvement of marine investigation and development exercises in China, Malaysia, Australia, and Thailand. In addition, expanding oil revelations in non-industrial nations, for example, China and India are supposed to fuel the interest in the marine cranes market in the district. The rising venture by the public authority around here for the improvement of the public foundation, including transportation and energy, is another key element advancing the development of the market.

Major Players
The key players operating in the global marine cranes market include Hawboldt Industries, HS. Marine S.R.L, LLC, Industriaguerra, S.A, KenzFigee Group B.V., Techcrane International, LLC, DMW Marine Group, Palfinger AG, Effer SpA, Heila Cranes S.p.A, and Cargotec Corporation among others.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
1.1 MARKET SUMMARY
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
4.1 OVERVIEW
4.2 DRIVERS
4.2.1 INCREASING OFFSHORE EXPLORATION & PRODUCTION ACTIVITIES
4.2.2 GROWING SUBSEA CONSTRUCTION VESSEL INDUSTRY
4.2.3 INCREASING REGULATIONS AND GOVERNMENT INITIATIVES FOR VARIOUS INDUSTRIES
4.2.4 DRIVERS IMPACT ANALYSIS
4.3 RESTRAINT
4.3.1 HIGH ENVIRONMENTAL RISKS
4.3.2 HIGH PURCHASE, INSTALLATION, AND MAINTENANCE COSTS
4.4 OPPORTUNITY
4.4.1 RISING ADOPTION IN RENEWABLE ENERGY APPLICATIONS
4.5 CHALLENGE
4.5.1 LACK OF BACKEND SUPPORT
4.6 COVID-19 IMPACT ANALYSIS
4.6.1 ECONOMIC IMPACT ON THE MANUFACTURING INDUSTRY
4.6.1 IMPACT ON THE MARINE CRANES INDUSTRY
4.6.1.1 IMPACT ON PRODUCTION
4.6.1.2 IMPACT ON SUPPLY CHAIN
4.6.1.3 IMPACT ON RAW MATERIALS
4.6.1.4 CASH FLOW CONSTRAINTS
4.6.2 IMPACT ON WORLD TRADE
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY CHAIN ANALYSIS
5.1.1 COMPONENT SUPPLIERS
5.1.2 MARINE CRANE MANUFACTURERS
5.1.3 DISTRIBUTION CHANNELS
5.1.4 END USE
5.2 PORTER’S FIVE FORCES MODEL
5.2.1 THREAT OF NEW ENTRANTS
5.2.2 BARGAINING POWER OF SUPPLIERS
5.2.3 THREAT OF SUBSTITUTES
5.2.4 BARGAINING POWER OF BUYERS
5.2.5 INTENSITY OF RIVALRY
6 GLOBAL MARINE CRANES MARKET, BY LIFTING CAPACITY
6.1 INTRODUCTION
6.2 2 TONS–500 TONS
6.3 501 TONS–15,000 TONS
6.4 15,001 TONS–30,000 TONS
7 GLOBAL MARINE CRANES MARKET, BY TYPE
7.1 INTRODUCTION
7.2 KNUCKLE BOOM CRANES
7.3 TELESCOPIC BOOM CRANES
7.4 FOLDABLE BOOM CRANES
7.5 STICK BOOM CRANES
8 GLOBAL MARINE CRANES MARKET, BY APPLICATION
8.1 INTRODUCTION
8.2 OIL & GAS PLATFORM
8.3 WORKBOATS
8.4 RESEARCH & FISHING VESSELS
8.5 GOVERNMENT & MILITARY
9 GLOBAL MARINE CRANES MARKET, BY REGION
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 US
9.2.2 CANADA
9.2.3 MEXICO
9.3 EUROPE
9.3.1 GERMANY
9.3.2 UK
9.3.3 FRANCE
9.3.4 SPAIN
9.3.5 REST OF EUROPE
9.4 ASIA-PACIFIC
9.4.1 CHINA
9.4.2 JAPAN
9.4.3 INDIA
9.4.4 REST OF ASIA-PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 UAE
9.5.2 SAUDI ARABIA
9.5.3 SOUTH AFRICA
9.5.4 QATAR
9.5.5 BAHRAIN
9.5.6 KUWAIT
9.5.7 EGYPT
9.5.8 REST OF MIDDLE EAST & AFRICA
9.6 SOUTH AMERICA
9.6.1 BRAZIL
9.6.2 ARGENTINA
9.6.3 REST OF SOUTH AMERICA
10 COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 MARKET SHARE ANALYSIS
10.3 COMPETITIVE BENCHMARKING
10.4 COMPETITOR DASHBOARD
10.5 KEY DEVELOPMENTS & GROWTH STRATEGIES
10.5.1 PRODUCT LAUNCHES/PRODUCT DEVELOPMENTS/SERVICE DEPLOYMENTS
11 COMPANY PROFILE
11.1 PALFINGER AG
11.1.1 COMPANY OVERVIEW
11.1.2 FINANCIAL OVERVIEW
11.1.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.1.4 K KEY DEVELOPMENTS
11.1.5 SWOT ANALYSIS
11.1.6 KEY STRATEGIES
11.2 EFFER S.P.A
11.2.1 COMPANY OVERVIEW
11.2.2 FINANCIAL OVERVIEW
11.2.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIES
11.3 HEILA CRANES SPA
11.3.1 COMPANY OVERVIEW
11.3.2 FINANCIAL OVERVIEW
11.3.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIES
11.4 HAWBOLDT INDUSTRIES
11.4.1 COMPANY OVERVIEW
11.4.2 FINANCIAL OVERVIEW
11.4.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIES
11.5 HS. MARINE S.R.L
11.5.1 COMPANY OVERVIEW
11.5.2 FINANCIAL OVERVIEW
11.5.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIES
11.6 KENZFIGEE GROUP B.V.
11.6.1 COMPANY OVERVIEW
11.6.2 FINANCIAL OVERVIEW
11.6.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIES
11.7 TECHCRANE INTERNATIONAL, LLC
11.7.1 COMPANY OVERVIEW
11.7.2 FINANCIAL OVERVIEW
11.7.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIES
11.8 DMW MARINE GROUP, LLC
11.8.1 COMPANY OVERVIEW
11.8.2 FINANCIAL OVERVIEW
11.8.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIES
11.9 INDUSTRIAGUERRA, S.A
11.9.1 COMPANY OVERVIEW
11.9.2 FINANCIAL OVERVIEW
11.9.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIES
11.10 CARGOTEC CORPORATION
11.10.1 COMPANY OVERVIEW
11.10.2 FINANCIAL OVERVIEW
11.10.3 PRODUCTS/SOLUTIONS/SERVICES OFFEREDS
11.10.4 KEY DEVELOPMENTS
11.10.5 SWOT ANALYSIS
11.10.6 KEY STRATEGIES

Companies Mentioned

Hawboldt Industries, HS. Marine S.R.L, LLC, Industriaguerra, S.A, KenzFigee Group B.V., Techcrane International, LLC, DMW Marine Group, Palfinger AG, Effer SpA, Heila Cranes S.p.A, and Cargotec Corporation among others

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