The hydraulic marine crane market size is projected to reach US$ 6,582.49 million by 2031 from US$ 4,139.57 million in 2023. The market is expected to register a CAGR of 6.0% during 2023–2031. The growing number of sea-borne trade activities and growing government focus on developing marine infrastructure are likely to remain a key trend in the market.
Several government investments in building marine infrastructure have increased the demand for hydraulic marine cranes market. A large number of ship manufacturers would directly lead to the increased demand for hydraulic marine cranes globally. The developed regions like North America and Europe have top marine crane manufacturers such as DMW Marine Group and Fred Wahl Marine Construction, Inc., which offers knuckle boom, telescopic boom, and stiff-boom type marine cranes. These all will increase the growth of the hydraulic marine cranes market.
The growing technological developments allow workers to remain agile. The integration of advanced technology within ships and several offshore projects would drive the growth of the hydraulic marine cranes market globally. Countries such as Saudi Arabia are procuring maritime transport fleets that would enhance the deployment of advanced technologies in several ships, such as cargo ships and naval ships, among others. For implementing and constructing new technological infrastructure, the need for marine cranes would be required, which is steering the demand for hydraulic marine cranes.
Government policies and regulations in favor of international trading activities attract foreign investments. Also, several governments are focused on the development of the marine industry and attracting FDI in this sector, which is increasing the sea-borne trading activities and influencing the hydraulic crane market positively. The growing technological development projects constructed across ports and in ship buildings are positively influencing trading activities. The growing number of sea-bourne trading activities require proper port infrastructure and dock facilities to cater to the large number of commercial ships, which is acting as a major driver for the hydraulic machine crane market globally.
The number of marine crane manufacturers in regions like Europe, Asia Pacific, and North America is high compared to other regions. Italy, China, and The US are among the top countries having the largest marine crane manufacturers. The types of marine cranes available in these regions are knuckle boom, telescopic boom, and stiff boom marine cranes. Thus, with a higher number of marine crane manufacturers present, the market is projected to have positive growth. The US also has a large number of ship manufacturers, which would directly lead to the increased demand for hydraulic marine cranes.
Key segments that contributed to the derivation of the hydraulic marine crane market analysis are design, capacity, and boom length.
The geographic scope of the hydraulic marine crane market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Europe is leading the market. High government investments in developing the marine infrastructure have positively influenced the demand for the hydraulic marine cranes market in the region. The growing technological development projects across ports and in ship manufacturing are increasing the demand for hydraulic marine cranes in the European markets. Europe is an economically advanced region. UK, Spain, Italy, France, Germany, Switzerland, Russia, Sweden, and the Netherlands are countries are some of the major countries in the region. The high presence of shipbuilding and hydraulic crane manufacturers is also having a positive impact on the hydraulic marine crane market in Europe.
The regional trends and factors influencing the Hydraulic Marine Crane Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Hydraulic Marine Crane Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 4,139.57 million |
| Market Size by 2031 | US$ 6,582.49 million |
| Global CAGR (2023 - 2031) | 6.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Design
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Hydraulic Marine Crane Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Hydraulic Marine Crane Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The hydraulic marine crane market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the hydraulic marine crane market are listed below:
The “Hydraulic Marine Crane Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Europe dominated the hydraulic marine crane market in 2023.
The development of electrically powered marine cranes is the future trend of the hydraulic marine crane market.
Amco Veba Marine, DMW Marine Group, Fassi Gru S.p.A., Fred Wahl Marine Construction, Inc., Heila Cranes S.p.A., Hydrauliska Industri AB, HS.MARINE S.r.L., HYVA, Industrias Guerra, S.A., Kenz Figee, Melcal, Mkg Maschinen-& Kranvertrieb, and Palfinger AB are some of the leading players in the market.
US$ 6,582.49 million estimated value of the hydraulic marine crane market by 2031.
6.0% is the expected CAGR of the hydraulic marine crane market.