North America Hydraulic Marine Cranes Market Share by Size and Growth 2028

The hydraulic marine cranes market in North America is expected to grow from US$ 944.90 million in 2021 to US$ 1,337.17 million by 2028; it is estimated to grow at a CAGR of 5.1% from 2021 to 2028.

Trading activities are gaining significant traction owing the ongoing economic development over the last decade. Governments across the region are forming alliances and relaxing trade policies owing to the growing importance of globalization. Government is also aiding market players with various monetary and non-monetary incentives, such as reduced taxes, relaxed regulation and reporting norms, and complete ownership of business. Thus, such initiatives are attracting various companies to either setup manufacturing facilities or uplift the manufacturing output. Lowering labor costs and rising disposable income are, in turn, accelerating the seaborne trade. This is projected to subsequently drive the adoption of hydraulic marine cranes in the region. The increase in sea-borne trade activities is escalating the production of ships or vessels across the region, which in turn is generating demands for marine cranes, which is ultimately boosting the North America hydraulic marine cranes market.

North America suffered a substantial economic loss in the first two quarters of 2020 owing to the high number of COVID-19 cases, specifically in the US. The slowdown of economic growth affected the seaborne trading activities. Moreover, a limited workforce permitted on work floors due to the imposition of strict social distancing measures has hampered the production activities in the region. The US is the largest importer and second-largest exporter of goods in the world. Owing to restrictions on trade activities, the country experienced a significant decline in the adoption of hydraulic marine cranes in 2020. Moreover, as economies reopened, and trade restrictions were relaxed, the hydraulic marine cranes market began to experience steady growth in North America in late 2021.

North America Hydraulic Marine Cranes Market Revenue and Forecast to 2028 (US$ Million)

North America Hydraulic Marine Cranes Market Segmentation

North America Hydraulic Marine Cranes Market – By Design

Knuckle Boom
Telescopic Boom
Stiff Boom
Foldable Boom

North America Hydraulic Marine Cranes Market – By Capacity

Below 50 Tm
50 - 150 Tm
Above 150 Tm

North America Hydraulic Marine Cranes Market – By Boom Length

Below 10 Meters
10 - 20 Meters
Above 20 Meters

North America Hydraulic Marine Cranes Market– By Country

US
Canada
Mexico

North America Hydraulic Marine Cranes Market-Companies Mentioned

Amco Veba Marine
DMW Marine Group, LLC
Fassi Gru S.p.A.
Fred Wahl Marine Construction, Inc
HEILA Cranes S.p.a.
HIAB
HYVA
INDUSTRIAS GUERRA, SA
Kenz Figee
MELCAL S.p.A.
Palfinger AG

North America Hydraulic Marine Cranes Market Strategic Insights

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North America Hydraulic Marine Cranes Market Segmentation Analysis

North America Hydraulic Marine Cranes Market Report Highlights

North America Hydraulic Marine Cranes Report Scope

Report Attribute	Details
Market size in 2021	US$ 944.90 Million
Market Size by 2028	US$ 1,337.17 Million
CAGR (2021 - 2028)	5.1%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Design Knuckle Boom Telescopic Boom Stiff Boom Foldable Cranes By Capacity Below 50 Tm 50"50 Tm Above 150 Tm By Boom Length Below 10 Meter 10"20 Meter Above 20 Meter
Regions and Countries Covered
North America	US, Canada, Mexico
Market leaders and key company profiles	Amco Veba Marine DMW Marine Group, LLC Fassi Gru S.p.A Fred Wahl Marine Construction, Inc HEILA Cranes S.p.a. HIAB HYVA INDUSTRIAS GUERRA, SA Kenz Figee MELCAL S.p.A.