Marine Cranes Market: Overview
Marine cranes are specifically designed for offshore operations. They can be mounted on vessels and carried out into waters for operations such as loading and unloading. They are provided with appropriate protection and other features to handle the various weather conditions at sea. Standard features on marine cranes include UV resistant paint, 100% watertight and seal welding for corrosion protection, various lifting capacities and length of reach, and certifications. Marine cranes can also be custom-built for operations. Majority of manufacturers in the marine cranes market provide design, installation, building, testing, and maintenance services.
Various options are available in terms of features of marine cranes. For instance, in terms of power unit, electric and diesel options are available. Different types of controls include operator’s cab, walk around, pedestal mounted (standard), ride around, remote console, and wireless remote control. Different hydraulic power units include pedestal, skid, and platform mount, apart from hydraulic drive. Various accessories available with marine cranes include warning horn, floodlights, base plates, docking heads, additional winches, pedestal length, and stainless steel fittings.
Marine Cranes Market: Segmentation
The global marine cranes market can be segmented based on type, lifting capacity, application, and region. Based on type, the marine cranes market can be divided into knuckle boom, telescopic boom, foldable boom, and stiff boom. Knuckle boom cranes have two booms that articulate at a knuckle located in the middle to resemble the actions of a human finger. They are used on fixed platforms and vessels with big deck area. They have lower number of joints; hence, knuckle cranes are easier to maintain. Telescopic boom cranes do not have knuckle function; however, they can still be hydraulically extended and retracted. Foldable boom marine cranes require minimum deck space. They are designed to ensure constant torque moment and reduce the load’s ‘pendulum effect.’ Stiff boom cranes are used to handle general cargo on vessels as well as offshore platforms.
In terms of lifting capacity, the marine cranes market can be segregated into 2 tons–500 tons, 501 tons–15,000 tons, and 15,001 tons–30,000 tons. Large players in the marine cranes market provide marine cranes with lifting capacities in almost all the segments. However, smaller players may have a limited range. Some of them can provide cranes only in the lower segments of the lifting capacity. Price and design of a marine crane are affected by several factors such as boom length, lifting capacity, type of vessel, and function.
Based on application, the marine cranes market can be divided into oil & gas platforms, workboats, research & fishing vessels, and government & military. Marine cranes need to be manufactured according to the purpose and location of their use. For example, the oil & gas industry uses marine cranes in deep waters; hence, cranes need to withstand extreme weather conditions. Similarly, research & fishing vessels have different requirements. Workboats include a variety of vessels such as tugs, supply ships, barges, cruise ships, dredgers, and ice breakers. The government & military segment refers to navy vessels, coast guard vessels, oil pollution recovery, and firefighting vessels commonly operated by government agencies.
Marine Cranes Market: Key Players
Large players operating in the global marine cranes market include Palfinger, Effer, Heila, Hawboldt, Rapp Marine, and BMW Marine Group.
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
- 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?
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.