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The marine loading arms market is estimated to grow at a CAGR of 4.3% between 2022 and 2027. The size of the market is forecast to increase by USD 81.17 million. The growth of the market depends on several factors, including the rise in demand for oil and gas globally, the increase in demand for marine loading arms from the chemical industry, and the new oil and gas exploration policies.
This report extensively covers market segmentation by application (crude oil, LG, and IG), type (manual marine loading arms and hydraulic marine loading arms), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global marine loading arms market as a part of the global industrial machinery market. The parent global industrial machinery market covers companies engaged in the manufacturing of industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The rise in demand for oil and gas globally is notably driving the market growth, although factors such as fluctuating raw material prices may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Marine Loading Arms Market Driver
One of the key factors driving the market is the rise in demand for oil and gas globally. Between the last two decades, worldwide liquid fuel use has climbed dramatically (1999-2019). This rise in global liquid fuel consumption was mostly attributable to a drop in crude oil prices between 2014 and 2016, as well as an increase in automobile sales. The number of vehicles in use around the world is steadily increasing, resulting in increased global fuel consumption. As a result, the demand for oil will rise during the projection period. Similarly, since 2018, natural gas use has grown. Natural gas demand has risen in comparison to oil demand as environmental concerns have grown.
During the projection period, however, demand for both will increase the demand for maritime loading arms. Furthermore, rising natural gas consumption has resulted in the global development of LNG commerce. Moreover, the increased import of natural gas will necessitate the construction of ports and terminals to allow the quick and effective transfer of liquids to shore. As a result of the increased LNG imports, the worldwide marine loading arms market is expected to develop over the forecast period.
Significant Marine Loading Arms Market Trend
The advent of motion-recognizing marine loading arms is another factor supporting the market growth in the forecast period. The motion-sensing marine loading arm is one of the latest technologies used in the global marine loading arms market. This type of marine loading arm is currently manufactured for cryogenic fuel transfers and has successfully completed testing activities.
The motion-sensing marine loading arm is developed for special-purpose LNG transfers. FLNG projects have increased globally in the last two years. Owing to this, LNG needs to be transferred to carriers through marine loading arms. It is difficult and risky to connect marine loading arms manually owing to the movement of both ships due to the motion of seawater. The use of a motion-sensing marine loading arm will solve this issue to a large extent. This new type of marine loading arm will locate the counterpart automatically and connect with it. This new technology will be the demand driver for marine loading arms in the future.
Major Marine Loading Arms Market Challenge
Fluctuating raw material prices will be a major challenge for the market during the forecast period. In the global marine loading arms market, the key raw materials used are steel and stainless steel. Therefore, the price of the product will be directly dependent on the price of the raw material. Moreover, the global cost trends in steel and stainless steel prices have a significant effect on the market in focus.
However, the fluctuating price of these commodities is a major challenge for the industry as it is difficult to predict the price of the product during the forecast period. Therefore, the cost of marine loading arms production will also vary subsequently with the fluctuation. As a result, vendors of marine loading arms cannot generate a steady profit rate. In addition, the increase in raw material prices sometimes incurs a loss to manufacturers. Therefore, this poses a major challenge for the global marine loading arms market.
Key Marine Loading Arms Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Marine Loading Arms Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
carbisloadtec.com - The company offers marine loading arms and related components such as Swivel Joints. Also, under this segment, the company focuses on equipment for the oil and chemical industries.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the crude oil segment will be significant during the forecast period. Marine loading arms are used widely for transferring crude oil and refined products from carriers to ports, ports to ships, and offshore processing units to carriers. The marine loading arms help in the efficient and fast transfer of crude oil and its refined products. The efficient transferring abilities increased the popularity of marine loading arms over other transferring modes, such as pipes and tubes. Such factors will increase the market growth during the forecast period.
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The crude oil segment was valued at USD 122.70 million in 2017 and continue to grow by 2021. Along with the growth in the domestic market, increased foreign trade also plays a vital role in the development of the global marine loading arms market. Countries such as the US, Canada, Saudi Arabia, Russia, and China are the major producers of crude oil. However, most of the refining centers are in the US, China, Japan, South Korea, India, and Russia. The uneven spread of production and refining centers has been increasing the import and export of crude oil. For instance, China is the largest importer of crude oil. It imports crude oil and refines it to make products such as petrol and diesel. Increased trade of crude oil and its refined products will require highly advanced ports and terminals to ensure the efficient and fast transfer of the liquids. Therefore, the global marine loading arms market will register exponential growth during the forecast period.
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APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growth of the marine loading arms market in APAC is significant owing to the growth in application segments such as crude oil imports, refined products exports, and the IGs sector. Most of the growth in APAC is shared between countries such as India, Japan, South Korea, and China. The imports of crude oil and exports of refined products such as petrol and diesel are bolstering the market development in the region. Countries such as China, Japan, India, and South Korea together contribute to an extensive share of the world's refinery capacity. Therefore, the region is a hub for crude oil imports.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Marine Loading Arms Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.3% |
Market growth 2023-2027 |
USD 81.17 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
3.2 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 42% |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
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., The Novaflex Group, 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, Tokyo Boeki Group, WLT liquid & gas loading technology BV, and Baretti |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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