NEW
YORK, July 3, 2024 /PRNewswire/ -- The
global marine loading arms market size is estimated to
grow by USD 65.8 million from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of almost 3.43% during the forecast period.
Rise in demand for oil and gas globally is driving market
growth, with a trend towards growing popularity of
LNG fuel. However, fluctuating raw material prices
poses a challenge. Key market players include Baretti, Carbis
Loadtec Group, Flotech Performance Systems, Ingersoll Rand Inc.,
JLA loading Technology B.V., JRE Pvt. Ltd., KANON Loading Equipment
BV, Kcenergi LLC, Lloyds Steel Industries Ltd., Marimo Engineering
Pte. Ltd., OGCF Engineering M Sdn Bhd., Persian Gulf Petro Energy
GPE, Pond and Co. , Safe Harbor Access Systems, SHOTEC S.A.E.,
SVT APAC Pte. Ltd., TechnipFMC plc, The Novaflex Group, Tokyo Boeki
Group, and WLT liquid and gas loading technology BV.
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segments, customer landscape, and companies- View the
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Marine Loading Arms
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
3.43%
|
Market growth
2024-2028
|
USD 65.8
million
|
Market
structure
|
Concentrated
|
YoY growth 2022-2023
(%)
|
3.27
|
Regional
analysis
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 43%
|
Key
countries
|
US, China, Japan,
Germany, and Canada
|
Key companies
profiled
|
Baretti, Carbis Loadtec
Group, Flotech Performance Systems, Ingersoll Rand Inc., JLA
loading Technology B.V., JRE Pvt. Ltd., KANON Loading Equipment BV,
Kcenergi LLC, Lloyds Steel Industries Ltd., Marimo Engineering Pte.
Ltd., OGCF Engineering M Sdn Bhd., Persian Gulf Petro Energy GPE,
Pond and Co. , Safe Harbor Access Systems, SHOTEC S.A.E., SVT
APAC Pte. Ltd., TechnipFMC plc, The Novaflex Group, Tokyo Boeki
Group, and WLT liquid and gas loading technology BV
|
Market Driver
The marine industry is shifting towards LNG as a fuel due to its
environmental benefits and regulatory compliance. LNG's lower SOx,
NOx, and CO2 emissions make it an attractive alternative to Heavy
Fuel Oil (HSFO). The number of LNG-powered vessels is increasing
rapidly, leading to decreased demand for marine loading arms.
Container shipping companies are investing in LNG-powered ships to
reduce emissions, further impacting the market. Regulatory changes
and fuel availability concerns are also driving this
transition.
The marine loading arms market is experiencing significant
growth, driven by increasing demand for efficient and productive
port operations. Key trends include the use of automated and
remote-controlled arms for improved safety and productivity.
Additionally, there is a focus on reducing emissions and improving
sustainability through the adoption of electric and hybrid systems.
Another trend is the integration of IoT and data analytics to
optimize operations and enhance performance. Furthermore, there is
a growing preference for modular and customizable arms to cater to
diverse cargo handling requirements. Overall, the market is
expected to continue its upward trajectory, driven by these trends
and the need for modernization in the maritime industry.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- In the marine loading arms market, product success hinges on
price, which is influenced by raw material costs. Key materials are
steel and stainless steel. Global steel and stainless steel price
trends significantly impact the industry. Fluctuating commodity
prices make it challenging to predict product costs and maintain
consistent profit rates for vendors. Raw material price increases
can even result in losses for manufacturers. Consequently, price
volatility poses a significant challenge for the global marine
loading arms market.
- The Marine Loading Arms market faces several challenges in the
oil and gas industry. Crude oil demands continuous loading and
unloading processes, requiring durable and efficient loading arms.
However, the offshore environment poses unique difficulties.
Driving factors include the need for deepwater capabilities,
corrosion resistance, and the integration of digital technologies
for optimization and maintenance. Additionally, the increasing
trend towards smaller, more frequent deliveries calls for more
flexible and adaptable loading arms. Ensuring compliance with
regulations, such as the Oil and Gas Industry Guidelines, is also a
significant challenge. Overall, the marine loading arms market must
address these challenges to meet the evolving needs of the oil and
gas sector.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This marine loading arms market report extensively covers market
segmentation by
- Application
- 1.1 Crude oil
- 1.2 LG
- 1.3 IG
- Type
- 2.1 Manual marine loading arms
- 2.2 Hydraulic marine loading arms
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Crude oil- The marine loading arms market is
essential for transferring crude oil and refined products between
carriers, ports, and processing units. Its efficiency and speed
have made it more popular than pipes and tubes. However, the market
faced challenges during the COVID-19 pandemic due to decreased
upstream investments and project funding. Post-2021, the oil
sector's investments will increase, leading to the need for new
ports, terminals, and carriers, boosting the market. Additionally,
foreign trade plays a significant role in market growth, with major
crude oil producers and refiners driving imports and exports.
Advanced ports and terminals are necessary to ensure efficient and
fast liquid transfer, leading to market expansion.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The Marine Loading Arms market encompasses the design,
manufacturing, and installation of specialized equipment used for
transferring LNG fuel from onshore facilities to moored vessels in
marine environments. These arms are essential for marine vessels,
enabling quick-connect hookups to ships' manifolds through
motorized systems. Swivel joints and hydraulic movement facilitate
seamless connections, ensuring tight seals with the help of gaskets
and O-rings. Marine loading arms are crucial components in ports
and terminals, ensuring efficient and safe transfer of liquids and
gases. Counterweight systems are often integrated into the design
to balance the weight of the loading arms during operation.
Market Research Overview
The Marine Loading Arms market encompasses the supply and demand
for equipment used to load and unload cargo from marine vessels
onto land-based facilities. These arms are essential for efficient
and safe transfer of bulk and containerized cargoes. The market is
driven by the increasing global trade and the need for faster
turnaround times at ports. Various types of marine loading arms
exist, including fixed, telescopic, and knuckle boom arms.
Materials used in their construction include steel, aluminum, and
fiberglass. The market is segmented by application, including oil
and gas, chemicals, and general cargo. The use of automation and
remote operation systems is a growing trend in the market to
enhance productivity and reduce labor costs. The market is expected
to grow at a significant rate in the forecast period due to the
increasing demand for maritime transportation and the expansion of
port infrastructure.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Type
-
- Manual Marine Loading Arms
- Hydraulic Marine Loading Arms
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio