Report : Europe Hydraulic Marine Cranes Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Design (Knuckle Boom, Telescopic Boom, Stiff Boom, and Foldable Cranes), Capacity (Below 50 Tm, 50–50 Tm, and Above 150 Tm), and Boom Length (Below 10 Meter, 10–20 Meter, and Above 20 Meter)Â
Below 10 Meters Segment to Dominate Europe Hydraulic Marine Cranes Market during 2018–2028
According to a new market research study on “Europe Hydraulic Marine Cranes Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Design, Capacity, and Boom Length” is expected to reach US$ 2,711.19 million by 2028 from US$ 1,594.89 million in 2021. The market is estimated to grow at a CAGR of 7.9% from 2021 to 2028. Presence of large number of market players is the major factor driving the growth of the Europe hydraulic marine cranes market. However, regulatory pressure on fishing industry may hinder the growth of Europe hydraulic marine cranes market. The report provides trends prevailing in the Europe hydraulic marine cranes market along with the drivers and restraints pertaining to the market growth.
France, Russia, UK, Italy, Germany, and Spain are among the hardest-hit countries by the COVID-19 pandemic in Europe. The region experiences a significant decline in revenue from various industries due to various containment measures enacted by governments. These actions resulted in disruptions in the supply chains of many industries, including the hydraulic marine cranes manufacturing industry. The hydraulic marine crane market players experienced challenges in meeting production targets in 2020. Moreover, as major ports in Europe experienced low traffic of vessels, the demand for hydraulic marine cranes remained low in 2020. However, as trading activities picked pace from the last quarter of 2020, the market players began experiencing steady growth in demand for these cranes.
The Europe hydraulic marine cranes market is segmented on the bases of design, capacity, boom length, and country. Based on design, the Europe hydraulic marine cranes market is segmented into knuckle boom, telescopic boom, stiff boom, and foldable boom. The foldable boom segment held the largest share in 2020. Based on capacity, the Europe hydraulic marine cranes market is segmented into below 50 Tm, 50–150 Tm, and above 150 Tm. The 50 - 150 Tm segment held the largest market share in 2020. Based on boom length, the Europe hydraulic marine cranes market is segmented into below 10 meters, 10-20 meters, and above 20 meters. The below 10 meters segment held the largest share in 2020. Similarly, based on country, the market is segmented into France, Germany, Italy, UK, Russia, and rest of Europe. The rest of Europe contributed a substantial share in 2020.
Amco Veba Marine; Gru S.p.A.; HEILA Cranes S.p.a.; HIAB; HS.MARINE S.r.l.; HYVA; INDUSTRIAS GUERRA, SA; Kenz Figee; MELCAL S.p.A.; MKG Maschinen & Kranvertrieb GmbH; Palfinger AG; and TMS are among the leading companies in the Europe Hydraulic Marine Cranes Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, KenzFigee launched Knuckle Boom Subsea Crane which featured decreased hook weight, reduced pendulum length, and high safe working load, up to 2,000 tonnes.
Europe Hydraulic Marine Cranes Market, By Country, 2020 and 2028 (%) 
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