Marine Loading Arms Market Report Overview
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The global marine loading arms market size was USD 431.16 million in 2021 and is expected to reach USD 769.97 million in 2031, exhibiting a CAGR of 5.97% during the forecast period.
Weapons known as marine loading arms are used to feed ammunition into a gun's breach. They are a crucial component of the loading process and can be motorized or manual. For transfers at higher loading rates and pressures and on bigger vessels, a marine loading arm is a good substitute for direct hose hookups. A loading arm uses swivel joints and can be moved manually or hydraulically. It can partially follow the motion of a moored vessel. Quick-connect fittings are a common characteristic in loading arm systems. It is necessary to use gasket or O-ring arrangements to create a tight seal with the ship's manifold flange.
Before the connection is severed, a loading arm needs to be emptied or closed off. There are typically two ways to do this. High pressure air can be used to blow the lines clean for fuels like gas oil and diesel. Pumps can be used to strip the lines of fuels like kerosene or gasoline. increased global exploration and production operations have led to an increase in the demand for marine loading arms from the oil and gas industry. Over the next few years, it is anticipated that increasing investments in port infrastructure development projects would present possibilities for suppliers and manufacturers of loading arms.
COVID-19 Impact: Delayed Operations to Hinder Market Performance
The global COVID-19 pandemic has been unprecedented and staggering, with marine loading arms experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 outbreak in 2020 had a negative impact on the maritime loading arms market in APAC. To stop the spread of COVID-19, several nations implemented a partial or total lockdown. Many offshore development operations in the area had to be delayed or abandoned as a result of the outbreak and changes in crude oil prices around the world. However, after the lockdown restrictions were lifted, contracts for conducting 3D exploratory surveys in the area were given to offshore drilling companies like Polarcus. The market for offshore drilling in APAC is anticipated to expand during the projected period as a result of the region's increased oil and gas exploration and production (E&P) activities.
Latest Trends
"Rising Offshore Drilling to Enhance Market Sales"
As offshore oil exploration and production rise, there will likely be a greater need for heavy-duty lifting equipment, which will raise the need for these systems. Additionally, market development is anticipated to be fueled by rising offshore drilling activity and technology advancements.
Marine Loading Arms Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into fully balanced marine arm, double counterweight marine arm, and rotary counterweight marine arm.
In terms of product, rotary counterweight marine arm is the largest segment.
- By Application Analysis
Based on application, the market can be divided into LNG, LPG and crude oil.
In terms of application, crude oil is the largest segment.
Driving Factors
"Discovery Of New Oil and Gas Sites to Provide Impetus to the Market"
Another element fostering the marine loading arms market's expansion throughout the predicted period is the discovery of new oil and gas sites. The IEA reports that the demand for oil has grown recently. It is anticipated that it would keep growing over the forecast period. To fulfil the rising demand for oil, this has led oil and gas corporations to consistently engage in new exploratory efforts. Gaining a competitive edge by remaining in the market and maintaining a large profit margin is the main goal of new exploratory efforts. For the transfer and processing of the produced oil, these new oil discoveries will call for carriers, ports, terminals, and processing facilities. Consequently, there will be a rise in demand for maritime loading arms in the future. This is due to the fact that the fastest way to deliver produced oil to ports or processing facilities is by using marine loading arms.
"The Segment for Crude oil to Better the Market Performance "
The segment for crude oil will be important during the forecasted time. The efficient and quick transfer of crude oil and its refined products is made possible by the maritime loading arms. marine loading arm are increasingly preferred over other transferring methods like pipes and tubes due to their effective transferring capabilities. Prices for crude oil have significantly risen in recent years. Oil corporations began to make more money as a result, and upstream investments rose everywhere. As a result, shale investments have increased significantly in the US, Russia, and Middle Eastern countries. Additionally, several nations are attempting to maximize profits and satisfy the rising demand by utilizing the higher crude oil prices.
Restraining Factors
"Fluctuating Raw Material prices to Impede Market Expansion"
During the forecast period, fluctuating raw material prices would be a significant obstacle for the marine loading arms market growth. Steel and stainless steel are the two main raw materials used in the global market for marine loading arm. As a result, the cost of the raw material will have a direct impact on the cost of the final product. Furthermore, the market under consideration is significantly impacted by worldwide cost trends in the prices of steel and stainless steel. However, the industry has significant difficulties as a result of the commodities' fluctuating prices, making it impossible to forecast the cost of the product over the forecast period. Vendors of maritime loading arms are unable to maintain a consistent profit rate as a result. Additionally, firms can lose money as a result of rising raw material costs. As a result, this presents a significant obstacle for the market for maritime loading arms worldwide.
Marine Loading Arms Market Regional Insights
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"Asia Pacific to Dominate the Market Due to Expanding Industrial Activity"
Over the course of the projected period, Asia Pacific is anticipated to maintain its dominance of the global marine loading arms market share. Industrial activity in the area has been expanding at an exponential rate, which is increasing demand for effective marine equipment. Additionally, growing infrastructure projects and growing foreign investment both support regional development. There are both emerging and developed nations in the Asia Pacific region. Due to a number of factors, including low labor costs and easy access to energy resources like coal and crude oil from offshore reserves, developing economies have experienced rapid economic growth. As a result, there is a high demand for effective marine equipment, including loading arms, in the logistics and warehousing application segment throughout this region.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
This statistical analysis of the maritime loading arms market takes into account the effective marketing techniques used by the major suppliers. The marine loading arms market is fragmented, and to compete in it, the vendors are using growth tactics including technology, industry knowledge, quality, upkeep, aftermarket service offers, price, international service networks, and safety features. Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- TechnipFMC (U.K.)
- Gardner Denver (U.S.)
- JRE (Indonesia)
- DK Corporation (India)
- Woodfield Systems LTD (U.S.)
- KANON Loading Equipment (Netherlands)
- Hasmak Temsilciliklerimiz. (Istanbul)
- Loadtec Engineered Systems 1(U.K.)
- Flotech Performance Systems (U.S.)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 431.16 Million in 2021 |
Market Size Value By |
US$ 769.97 Million by 2031 |
Growth Rate |
CAGR of 5.97% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global marine loading arms market expected to touch by 2031?
The global marine loading arms market is expected to touch USD 769.97 million by 2031.
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What CAGR is the marine loading arms market expected to exhibit during 2024-2031?
The marine loading arms market is expected to exhibit a CAGR of 5.97% over 2024-2031.
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Which are the driving factors of the marine loading arms market?
Discovery of new oil and gas sites and the segment for crude oil are the driving factors of the marine loading arms market.
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Which are the top companies operating in the marine loading arms market?
Gardner Denver, JRE, Kanon Loading Equipment, Loadtec Engineered Systems, SVT, TechnipFMC, Gardner Denver are the top companies operating in the marine loading arms market.