DUBLIN--(BUSINESS WIRE)--The "Hydraulic Marine Cranes Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Design, Capacity, and Boom Length" report has been added to ResearchAndMarkets.com's offering.

According to this report the market is expected to reach US$ 5,850.88 million by 2028, registering a CAGR of 6.4% from 2021 to 2028.

The marine crane market is growing substantially, owing to the presence of a large number of players operating in the market. The market players are experiencing significant demand for their product, owing to rise in ship/vessel production across the ship builders. Europe comprises the highest volume of hydraulic marine crane manufacturers, followed by APAC and North America. The leading European hydraulic marine crane manufacturers include Heila Cranes S.p.A, HIAB, Palfinger AB, Liebherr, MKG Maschinen & Kranvertrieb GmbH, and Konecranes. The players mentioned above invest noteworthy amounts in respective R&D teams to innovate newer models, which attract the end users (ship builders as well as ship owners).

In the APAC region, Chinese marine crane manufacturers dominate the market. Companies such as Jiangsu OUCo Heavy Industry and Technology Co., Ltd.; SANSANGIN Heavy Industries Ltd.; Jiangsu Tonghui Lifting Equipment Co. Ltd.; and PilotFits Engineering Co., Ltd., are the leading manufacturers of marine cranes. China accounts for the largest sea trade business in the region, holding nearly 60% of the sea trade business in the APAC. Additionally, the ship building industry in China is enormous. Thus, coupling the sea trade business and ship building industry, the Chinese hydraulic marine crane market players observe continuous demand for their products. This factor is driving the hydraulic marine cranes market. Apart from China, Japanese and South Korean marine crane manufacturers also enjoy sufficient order volumes year-on-year, which supports the growth of the hydraulic marine crane market in APAC.

From the North American perspective, the US and Canada dominate the market from both supply side and demand side. The two countries have noteworthy number of hydraulic marine crane manufacturers, as well as ship builders and ship owners. Also, the number of marine ports in the two countries are higher as compared to Mexico. The higher number of marine cranes suppliers as well as end users is one of the critical factors propelling the hydraulic marine crane market. The leading hydraulic marine crane market players in the region include Fred Wahl Marine Construction, Inc.; The Manitowoc Company, Inc.; Allied Systems Company; Hawboldt Industries; and Appleton Marine, Inc.

The hydraulic marine cranes market is segmented into design, capacity, boom length, and geography. Based on design, the market is further segmented into knuckle boom, telescopic boom, stiff boom, and foldable boom. In 2021, the foldable boom segment accounted for a significant share in the global hydraulic marine cranes market. In terms of capacity, the market is categorized into below 50 Tm, 50-150 Tm, and above 150 Tm. In 2021, the 50-150 Tm segment accounted for a significant share in the global hydraulic marine cranes market. Based on boom length, the market is further segmented into below 10 meters, 10- 20 meters, and above 20 meters. In 2021, the below 10 meters segment accounted for a significant share in the global hydraulic marine cranes market. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa, and South America (SAM). In 2021, Europe accounted for a significant share in the global hydraulic marine cranes market.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global hydraulic marine crane market.
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the global hydraulic marine crane market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

• Increase in Sea-borne Trade Activities
• Presence of Large Number of Market Players

Restraints

• Regulatory Pressure on Fishing Industry

Opportunities

• Development of Large Number of Ports

Future Trends

• Development of Electrically Powered Marine Cranes

Companies Mentioned

• Amco Veba Marine
• DMW Marine Group
• Fassi Gru SPA
• Fred Wahl Marine Construction, Inc.
• Heila Cranes SPA
• HIAB
• HS Marine SRL
• HYVA
• Industrias Guerra SA
• Kenz Figee
• Melcal
• Puma Crane
• MKG Maschinen & Kranvertrieb GmbH
• Palfinger AB
• TMS

For more information about this report visit https://www.researchandmarkets.com/r/tj60cq

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