Europe Hydraulic Marine Cranes Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Design (Knuckle Boom, Telescopic Boom, Stiff Boom, and Foldable Cranes), Capacity (Below 50 Tm, 50-50 Tm, and Above 150 Tm), and Boom Length (Below 10 Meter,

Europe Hydraulic Marine Cranes Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Design (Knuckle Boom, Telescopic Boom, Stiff Boom, and Foldable Cranes), Capacity (Below 50 Tm, 50-50 Tm, and Above 150 Tm), and Boom Length (Below 10 Meter, 10-20 Meter, and Above 20 Meter) 

The hydraulic marine cranes market in Europe is expected to grow from US$ 1,594.89 million in 2021 to US$ 2,711.19 million by 2028; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028. Hydraulic marine cranes are widely used at marine ports for loading and unloading cargo. Growing trade and commerce activities are encouraging the deployment of a significant number of ports. Europe is expected to dominate the hydraulic marine crane market during the forecast period as the number of marine crane manufacturers is higher in the region. Moreover, the availability of a large coastline and the presence of the world’s busiest ports—such as Port of Rotterdam, Port of Antwerp, Port of Hamburg, Port of Bremen-Bremerhaven, Port of Valencia, and Port of Piraeus—would also contribute to the market growth in the region. These marine ports encounter significantly large volumes of cargo each year, thereby, requiring a large number of cranes for the movement of cargo to and from the ships/vessels. A surge in the development of ports across the region is projected to create steady growth opportunities for the hydraulic marine cranes market players in the coming years.

France, Russia, UK, Italy, Germany, and Spain are among the hardest-hit countries by the COVID-19 pandemic in Europe. The region experiences a significant decline in revenue from various industries due to various containment measures enacted by governments. These actions resulted in disruptions in the supply chains of many industries, including the hydraulic marine cranes manufacturing industry. The hydraulic marine crane market players experienced challenges in meeting production targets in 2020. Moreover, as major ports in Europe experienced low traffic of vessels, the demand for hydraulic marine cranes remained low in 2020. However, as trading activities picked pace from the last quarter of 2020, the market players began experiencing steady growth in demand for these cranes.

Based on boom length, the Europe hydraulic marine cranes market is segmented into below 10 meter, 10-20 meter, and above 20 meters. The below 10 meters segment held the largest market share in 2020. The marine cranes with below 10 meters boom length are used at vessels, docks, and cargo-handling points. Owing the growing traction toward inland water transport across the region, the deployment of small to medium transport vessels is increasing, which subsequently drives the adoption of hydraulic marine cranes. Furthermore, the growing fishery industry across the region, coupled with the steady adoption advanced fishing vessels in developing countries, is another factor fueling the adoption of hydraulic marine cranes.

The Europe hydraulic marine cranes market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe hydraulic marine cranes market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate data and gain more analytical insights. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants—including valuation experts, research analysts, and key opinion leaders—specializing in the Europe hydraulic marine cranes market. Amco Veba Marine; Gru S.p.A.; HEILA Cranes S.p.a.; HIAB; HS.MARINE S.r.l.; HYVA; INDUSTRIAS GUERRA, SA; Kenz Figee; MELCAL S.p.A.; MKG Maschinen & Kranvertrieb GmbH; Palfinger AG; and TMS are among a few players operating in the Europe hydraulic marine cranes market.

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