Jacking Systems Market: Introduction

  • Marine technology has developed significantly over the years. It covers marine science, technology, and instrumentation. Jacking systems are essential for the study of oceanographic processes and marine sciences.
  • The jacking systems market can be segmented based on type, application, and region. In terms of type, the jacking systems market can be bifurcated into pin & yoke and rack & pinion. The pin & yoke segment is expected to account for significant share of the global market during forecast period owing to rise in application of these in automotive and offshore energy & infrastructure industries.
  • Based on application, the jacking systems market can be divided into offshore energy & infrastructure, building & construction, metal, automotive, and others. The building & construction segment is expected to exhibit significant share in the near future owing to rise in usage of jacking systems in applications such as bridge repairs, demolition, and other heavy propping.

Drivers of Jacking Systems Market

  • Jacking systems help identify natural calamities such as tsunami and whirlpools. This is one of the major drivers of the market. Jacking systems are also used in developing underwater communication systems in laying subsea cables and subsea power & distribution systems. They are employed in studying seabed classification. Jacking systems are also used in shallow water model for prediction of high frequency ambient noise. Jacking systems are unique in combining the benefits of post-tensioned flooring, patented computer controlled software, and special edging systems that help in designing flooring and construction of offshore platforms.
  • Jacking systems help determine the current position and define the direction and speed to arrive at the port or point of further decision-making. A support device is used to facilitate maintenance of the jacking system of a self-elevating drilling or maintenance platform having a plurality of legs supporting the platform in an operating orientation. New technological advancements and developments are emerging in order to lower the costs of jacking systems. This can prove more beneficial in reducing the downtime.

Restraints of Jacking Systems Market

  • Dearth of universal directives pertaining to applications of jacking systems is expected to restrain the market during the forecast period. Every country has different directives pertaining to applications of jacking systems. Companies find it difficult to deal with these country-wise regulations. This is discouraging investment in the jacking systems market, thereby restraining the market.
  • High cost of production and distribution is also a major restraint of the jacking systems market. The marine industry faces shortage of skills, tightening of regulations, and complexity of offshore facilities and processes. This is hampering the market.

COVID-19 impact on Jacking Systems Market

  • The COVID-19 outbreak is hampering the demand for jacking systems in many applications. Governments of various countries across the globe have enforced lockdown measures to curb the spread of the disease. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown. In turn, this has led to a decline in in demand for jacking systems across the globe.
  • Key players operating in the jacking systems market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these players are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of jacking systems.

Asia Pacific to Hold Major Share of Jacking Systems Market

  • In terms of geography, the global jacking systems market can be segmented into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. North America leads in terms of demand for jacking systems due to the increase in oil & gas activities in offshore regions of the U.S.
  • Demand for jacking systems has been rising in countries in Asia Pacific such as India, China, Japan, and Australia owing to the increase in maritime security activities, rise in offshore oil & gas production activities, and improvement in underwater communications
  • Demand for jacking systems has been increasing in countries in Europe such as the U.K., Germany, France, and Norway due to the rise in oil & gas drilling activities in the North Sea and improvement in maritime security
  • Demand for jacking systems has been increasing in countries in Latin America such as Brazil and Mexico, led by the rapid urbanization and increase in offshore oil & gas activities in the Gulf of Mexico
  • Demand for jacking systems has been increasing in countries in Middle East & Africa due to the rise in number of offshore oil & gas exploration and production activities; and strengthening of maritime boundaries in the region. Countries such as Egypt, Israel, and Algeria are also investing in jacking systems.

Jacking Systems Market: Key Players

Major players operating in the global jacking systems market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. Key players operating in the market include:

  • Bosch Rexroth
  • TSC Group Holdings
  • ABB
  • Keppel Offshore & Marine
  • Royal IHC
  • Gusto MSC

Global Jacking Systems Market, by Type

  • Pin & Yoke
  • Rack & Pinion

Global Jacking Systems Market, by Application

  • Offshore Energy & Infrastructure
  • Building & Construction
  • Metal
  • Automotive
  • Others

Global Jacking Systems Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Jacking Systems Market