Global Marine Loading Arms Market 2018-2022
About Marine Loading Arms
A marine loading arm is a mechanical arm that constitutes articulated steel pipes to facilitate the transfer of crude oil or liquefied gas (LG) from the port to carriers or vice-versa.
Technavio’s analysts forecast the global marine loading arms market to grow at a CAGR of 4.84% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global marine loading arms market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Marine Loading Arms Market 2018-2022
Technavio recognizes the following companies as the key players in the global marine loading arms market: Gardner Denver, JRE, KANON Loading Equipment, Loadtec Engineered Systems, SVT, and TechnipFMC.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is new oil and gas discoveries. According to the IEA, the demand for oil will continue to increase during the next few years as well. This will result in a rise in number of oil and gas exploration activities, which according to our analysts, will be one of the major trends that will gain traction in this global market.”
According to the report, one driver in the market is rise in demand for oil and gas globally. The oil and gas industry is one of the largest end-user sectors for the marine loading arms market since the equipment is manufactured and used especially in applications such as the efficient transfer of liquid or gas products from ocean-going supertankers, river barges, and ships.
Further, the report states that one challenge in the market is fluctuating raw material prices. The most important factor in deciding the success of a product in the market is its price. The price decides the competitiveness of the market. In the global marine loading arms market, the key raw materials used are steel and stainless steel. Therefore, the price of the product will be directly dependent on the price of the raw material.