South America 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

South America 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 South America is expected to grow from US$ 107.76 million in 2021 to US$ 134.10 million by 2028; it is estimated to grow at a CAGR of 3.2% from 2021 to 2028. The marine crane industry in this region is surging significantly from the past several years owing to the rise in seaborne trade and various other naval activities. A number of hydraulic marine crane market players operating in the market space offer a wide range of products. . Electrically powered marine cranes are among the key focus areas for marine crane manufacturers. A majority of the cranes available for marine operations are powered by diesel engines, however, as the demand for environment-friendly machines surges, the manufacturers are emphasizing on electrically powered cranes. The crane series has lesser components, which are less susceptible to wear and tear. These advantages of the crane series are expected to generate substantial demand for hydraulic marine cranes in the coming years. The players operating in the market have the opportunity to boost their product portfolio, customer base, and annual revenues, by developing and commercializing the technology. The majority of the marine crane manufacturers invest substantial amounts in respective R&D teams to enhance their product portfolio, and thus, investing in electrically powered marine cranes is expected to be beneficial for the hydraulic marine crane market players in the coming years.

During the COVID-19 pandemic, a significant decline in production volumes was observed in major economic sectors in SAM countries. The region experienced a decline in seaborne trading activities due to the containment measures enacted by governments, which ultimately affected the adoption of hydraulic marine cranes. Moreover, the disruption in the supply of hydraulic marine cranes also affected the regional market from the supply side. However, as trading activities picked pace in the last quarter of 2020, the hydraulic marine crane market players are experiencing steady growth in demand their products.

Based on capacity, the South America hydraulic marine cranes market is segmented into below 50 Tm, 50-150 Tm, and above 150 Tm. The 50-150 Tm segment held the largest market share in 2020. A majority of the hydraulic marine crane market players offer their products with lifting capacity ranging from 50 Tm to 150 Tm. Medium and large cranes offer such lifting capabilities. The continuously growing seaborne trade is generating substantial demand for these cranes for the ease of lifting heavy materials and moving tons of materials and cargo from one to place another on deck. Also, the cranes with lifting capabilities ranging from 50 Tm to 150 Tm are procured and used for transporting equipment on the seabed.

The South America 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 South America 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 South America hydraulic marine cranes market. Amco Veba Marine; Gru S.p.A.; HEILA Cranes S.p.a.; HIAB; HYVA; INDUSTRIAS GUERRA, SA; Kenz Figee; and Palfinger AG are among a few players operating in the South America hydraulic marine cranes market.

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