Global Maritime Cranes Market to Witness CAGR of 3.3% from 2023 to 2031 and Reach US$ 4.02 Billion by End of the Forecast Period

WILMINGTON, DELAWARE, UNITED STATES, November 27, 2023 /EINPresswire.com/ -- Global Maritime Cranes Market Synopsis
Maritime cranes are specialized machinery used in ports and offshore sites to lift and transfer cargo between ships and land. They encompass various types like ship-to-shore and mobile harbor cranes. These cranes enhance the efficiency of maritime operations, expediting the loading and unloading of goods, thereby bolstering global trade. By facilitating smoother logistics and supply chain activities, maritime cranes play a pivotal role in supporting international commerce and economic growth through efficient sea-based transportation.

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Before the COVID-19 pandemic, the maritime cranes market was on a growth trajectory due to expanding global trade and port activities. However, the crisis disrupted operations, causing project halts and supply chain bottlenecks. Post-COVID-19, the market is gradually recovering as trade rebounds and supply chains stabilize. The pandemic accelerated the adoption of remote operation technologies and digitization in the maritime sector, influencing crane operations. Despite ongoing challenges, the market is adapting through innovation and a renewed focus on efficient, resilient, and technologically advanced solutions to meet the evolving demands of modern shipping and logistics.

Global Maritime Cranes Market Growth Drivers:
• Port Modernization and Expansion: Port modernization and expansion initiatives are significant drivers in the maritime cranes market. A survey conducted by the International Association of Ports and Harbors (IAPH) revealed that 75% of responding port authorities have ongoing or planned infrastructure projects. Notably, data from the World Trade Organization (WTO) indicated an annual growth rate of 3.5% in global container throughput. This underscores the need for advanced maritime cranes to handle larger vessels and increased cargo volumes efficiently. The expansion of ports, such as Rotterdam's Maasvlakte 2, has led to demand for specialized cranes capable of accommodating mega-container ships.

• Offshore Renewable Energy Projects: The growing emphasis on offshore renewable energy projects acts as a significant driver for maritime cranes market. According to the Global Wind Energy Council (GWEC), the offshore wind industry's capacity expanded by 15.5 GW in 2020. This expansion necessitates specialized cranes for constructing and maintaining offshore wind turbines. Moreover, data from the International Energy Agency (IEA) indicates that offshore wind capacity is projected to increase significantly by 2030, driving demand for versatile cranes that can handle the intricate requirements of these projects.

• Automation and Remote Operation: Automation and remote operation technologies are driving innovation in the maritime cranes market. A survey by Seatrade Maritime News highlighted that 60% of maritime professionals are considering or implementing remote operation features in their crane systems. The need for contactless operations during the COVID-19 pandemic accelerated this trend. Data from the International Maritime Organization (IMO) emphasizes safety improvements through automation, aligning with the International Labor Organization's (ILO) findings that automated operations can significantly reduce workplace accidents. As a result, maritime cranes equipped with advanced automation and remote control features are in high demand for enhancing operational efficiency and safety.

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Global Maritime Cranes Market Current Developments:
• The maritime cranes market is constantly evolving, with new technologies and applications being developed all the time. Some of the recent developments in the maritime cranes market include the increasing use of automation and robotics, the development of new materials, and the use of renewable energy sources.

• The Middle East and Africa region exhibits highest growth rate in the maritime cranes market. The region is experiencing accelerated growth within the global maritime cranes market, evidenced by insights from a maritime industry survey by Seatrade Maritime News. This survey uncovered a noteworthy surge in infrastructure investments within MEA's ports and offshore facilities, with approximately 65% of respondents indicating allocations for crane upgrades. Furthermore, statistics from the United Nations Conference on Trade and Development (UNCTAD) showcased a significant 30% rise in crane installations within the MEA region over the past biennium.

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Global Maritime Cranes Market: Competitive Landscape and Key Developments
o Brimmond Ltd
o Cargotec Corporation (MacGregor)
o Gomez&Mortisia
o Heila Cranes
o Huisman Equipment B.V.
o Kenz Figee
o Liebherr-International Deutschland GmbH
o NOV Inc.
o PALFINGER AG
o PLM Cranes B.V.
o Seatrax
o Other Industry Participants

In March 2023, Hiab, a division of Cargotec, introduced the EFFER iQ.1400 HP, a high-capacity loader crane featuring the state-of-the-art control system, SPACEevo. This advanced setup enhances efficiency and safety in operations. The crane's substantial size and vertical capabilities make it particularly well-suited for tasks within urban environments, offering optimal performance in metropolitan settings.

In February 2023, Brimmond, a company specializing in hydraulic, lifting, and mechanical equipment, revealed a lineup of upcoming projects for the upcoming year. In addition, the Scotland-based firm has unveiled a fresh inventory of marine cranes in its stock. Recognizing the challenges posed by current lead times for new marine cranes, the company has taken steps to address this concern by investing in a broader selection of Heila models.

Global Maritime Cranes Market
By Boom Type
o Stiff boom crane
o Knuckle boom crane
o Foldable telescopic boom crane
o Telescopic boom crane
By Capacity
o Up to 10 Tons
o 10 Tons to 100 Tons
o 100 Tons to 300 Tons
o Above 300 Tons
By Application
o Shipping and Transportation
o Port and Terminal Operations
o Manufacturing and Heavy Industry
o Oil and Gas
o Waste Management and Recycling
o Construction and Infrastructure Development
o Others

By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)

Consult with Our Expert:
Jay Reynolds
The Niche Research
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Email: askanexpert@thenicheresearch.com
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Jay Reynolds
The Niche Research
+1 302-232-5106
email us here

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