Global Marine Crane Market 2017-2021
About Marine Crane
Marine cranes are defined as the pedestal-mounted elevating and rotating lifting machinery used to transport materials or personnel to and from the marine vessels.
Technavio’s analysts forecast the global marine crane market to grow at a CAGR of 4.62% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global marine crane market for 2017-2021. To calculate the market size, the report considers only knuckle boom cranes, telescopic cranes, and lattice boom cranes.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Marine Crane Market 2017-2021
Technavio recognizes the following companies as the key players in the global marine crane market: DMW Marine Group, EFFER, HEILA Cranes, LIEBHERR, and PALFINGER.
Other Prominent Vendors in the market are: Allied Marine Crane, Appleton Marine, Cargotec, COPMA, EK Marine, Fassi, Hawboldt Industries, HS.MARINE, Huisman Equipment, James Fisher and Sons, Konecranes, Marine Equipments Pellegrini, MELCAL, Motus, North Pacific Crane Company, Rapp Marine, Seatrax, SMT MARINE, Sormec, and TECHCRANE INTERNATIONAL.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is product innovations. The cranes used in marine operations have a challenging task, which includes several problems, such as position accuracy, suppression, load sway, collision avoidance, and others. With the advancement in technology, increased safety is also promoted by vendors through innovative engineering design and training of operators on simulators. The product innovation includes methods to increase the efficiency, flexibility, and operational safety.”
According to the report, one of the major drivers for this market is rise in seaborne trade. The international shipping industry is accountable for more than two-thirds of the world trade. The shipping industry plays a crucial role in the import and export of commodities or goods. The trade via sea is expanding rapidly providing competitive freight rates to the global consumers. Increasing seaborne trade with the rising efficiency of the ports and growing economic liberalization will continue to provide prospects to the global marine crane industry.
Further, the report states that one of the major factors hindering the growth of this market is higher lead time for marine cranes. The global marine crane market faces a vital threat in the form of higher lead time, which the customers face at the moment of requirement. In the US, Seattle is emerging as the crane market of the country, yet again. With the recent discovery of oil reserves in the Permian basin of Texas likely to generate for the huge demand for the cranes in the coming times. However, the marine crane market is directly related to the industry with the higher lead time. The marine cranes have various stages of its manufacturing process, which includes two most significant steps — making steel components and assembling cranes.
DMW Marine Group, EFFER, HEILA Cranes, LIEBHERR, PALFINGER, Allied Marine Crane, Appleton Marine, Cargotec, COPMA, EK Marine, Fassi, Hawboldt Industries, HS.MARINE, Huisman Equipment, James Fisher and Sons, Konecranes, Marine Equipments Pellegrini, MELCAL, Motus, North Pacific Crane Company, Rapp Marine, Seatrax, SMT MARINE, Sormec, and TECHCRANE INTERNATIONAL.