LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global marine cranes market report until 2021. This research report also lists 20 other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global marine cranes market for 2017-2021 provides a detailed industry analysis based on the design type (knuckle boom crane, telescopic crane, and lattice boom crane) and geography (APAC, EMEA, and the Americas).
“The global marine cranes market is projected to grow to close to USD 9 billion by 2021, at a CAGR of nearly 5% over the forecast period. The increasing investment in ports and terminals is driving the adoption of marine cranes,” says Gaurav Mohindru, a lead analyst at Technavio for construction research.
Competitive vendor landscape
The global marine crane market is characterized by a fragmented vendor landscape with the presence of substantial numbers of international and local players. Innovation in the development process and smart design have led the global marine crane market with modular cranes and better productivity. The increase in the infrastructural development, mainly in the energy sector, is expected to drive the market growth as offshore wind turbines are being welcomed in the market. The technology-based innovation has resulted in energy-efficient cranes.
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Top five vendors in the global marine cranes market
DMW Marine Group
DMW Marine Group offers a complete range of cranes manufactured for various operations including marine environment. As per the demand in the marine industry, the company produces heavy-duty cranes, which have the capacity to withstand a strong side load force.
EFFER’s manufacturing plants are located in Bologna and Taranto. In 2005, the company became a part of the CTE Group, which deals with the production and marketing of elevators and platforms. The company's manufactured products have a wide range of applications, which include roofing, construction, heavy loads, plate glass handling, pole positioning, and marine.
HAILA Cranes manufactures heavy-duty application cranes designed specifically for the marine applications, both ship boarding and offshore. The company was founded in 1978 to produce small truck cranes. It caters to various industries, including the marine and offshore, oil and gas, and cement industries.
LEIBHERR is a Swiss-based manufacturer of the large marine equipment. The company also has existence in the hospitality sector; it has hotel properties in Germany, Austria, and Ireland. It has experience in the manufacturing of cranes. The company expanded in Europe by building a production site in Ireland.
PALFINGER is known to provide most reliable and innovative lifting solutions for applications on commercial vehicles and maritime field. The company is headquartered in Salzburg, Austria, with several manufacturing units in Europe, North America, and Asia.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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