Maritime Cranes Market By Boom Type (Lattice boom, Telescopic), By Capacity (Up to 10 tons, 10 tons to 100 tons, 100 tons to 300 tons, Above 300 tons), By Application (Oil and gas rigs, Construction vessels, Fishing vessels, Other): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global maritime cranes market was valued at $2,794.5 million in 2020, and is projected to reach $4,590.5 million by 2032, registering a CAGR of 3.8% from 2023 to 2032. Furthermore, in terms of volume, the global maritime cranes market was valued at 45,157 units in 2020, and is projected to reach 65,026 units by 2032, registering a CAGR of 2.7% from 2023 to 2032. Maritime cranes are crucial equipment in the maritime industry, as they are widely used for cargo handling on a vessel or between vessels. In addition, it’s the primary equipment for any construction activity in marine environments. Apart from these applications, maritime cranes are also widely used in salvage and rescue operations, maritime research, and fishing.
The maritime cranes market is witnessing an increased demand owing to a rise in offshore construction activities, such as the construction of various offshore wind farms across the world. For example, the government of the UK is significantly investing in offshore oil & gas projects. For instance, Murlach oil field project located in the Central North Sea around 203 km east of the Aberdeenshire coastline, Scotland, is being developed and is expected to become operational by the second quarter of 2025. This project will make significant use of maritime cranes. Moreover, increasing demand for oil and gas for producing petrol, diesel, jet fuel, and others is expected to drive growth in offshore oil and gas rigs, thereby positively affecting the maritime cranes market.
However, the high cost of maritime cranes and expensive maintenance is anticipated to limit the market growth. Contrarily, advancements in technology such as the incorporation of robotics, remote controls, and other technologies in maritime cranes are expected to provide lucrative growth opportunities to the market players.
Furthermore, due to rising inflation mainly driven by Ukraine –Russia war, the price of oil & gas, as well as the price of raw materials are experiencing increased volatility across the world. This has led to slow-paced growth of the maritime cranes market and its related industries.
The maritime cranes market is segmented on the basis of boom type, capacity, application, and region. By boom type, the market is bifurcated into lattice boom, and telescopic boom. Depending upon the capacity, the market is categorized into up to 10 tons, 10 tons to 100 tons, 100 tons to 300 tons, and above 300 tons. On the basis of application, it is divided into oil & gas rigs, construction vessels, fishing vessels, other. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competition AnalysisCompetitive analysis and profiles of the major players in the maritime cranes market are provided in the report. Major companies in the report include, Cargotec Corporation (MacGregor), Heila Cranes Ltd., Huisman Equipment B.V., Kenz Figee, Liebherr-International AG, NOV INC., PALFINGER AG, PLM Cranes B.V., Seatrax Inc., Sormec s.r.l.
Key Benefits for StakeholdersThe report provides an extensive analysis of the current and emerging maritime cranes market trends and historic data.
In-depth maritime cranes market analysis is conducted by constructing market estimations for key market segments between 2022 and 2032.
Extensive analysis of the maritime cranes market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The maritime cranes market revenue and volume forecast analysis from 2023 to 2032 is included in the report.
The key players within the maritime cranes market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the maritime cranes industry.
Key Market SegmentsBy Capacity100 tons to 300 tons
Above 300 tons
Up to 10 tons
10 tons to 100 tons
By ApplicationOil and gas rigs
Construction vessels
Fishing vessels
Other
By Boom TypeLattice boom
Telescopic
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Cargotec Corporation (MacGregor)
Heila Cranes S.p.A.
Huisman Equipment B.V.
Kenz Figee
Liebherr-International AG
NOV INC.
PALFINGER AG
PLM Cranes B.V.
Seatrax, Inc.
Sormec s.r.l.
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