Marine Loading Arms Market, 42% of Growth to Originate from APAC, Technavio
NEW YORK, April 16, 2024 /PRNewswire/ -- The global marine loading arms market size is estimated to grow by USD 81.17 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of almost 4.3% during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 42%.
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APAC is expected to play a pivotal role in propelling the global marine loading arms market
Geographic Landscape:
The Marine Loading Arms market in APAC experiences robust growth, driven by the expansion of application segments like crude oil imports, refined products exports, and the IGs sector. Key contributors to this growth include India, Japan, South Korea, and China. These countries, with their extensive refinery capacity, make APAC a hub for crude oil imports. In marine environments, Motorized Marine Loading Arms facilitate Direct Hose Hookups on Moored Vessels, utilizing Swivel Joints and Quick-connect Fittings for Hydraulic movement. These arms ensure a Tight Seal with Gaskets and O-rings, enabling the transfer of various Fuels, such as Gas Oil, Diesel, and Pumps for Stripping Kerosene, Gasoline, and Crude Oil. Advanced Marine Loading Arms incorporate 3D exploratory technology, catering to Offshore Drilling and the production of Liquids and Gases like LNG and LPG. Marine Equipment manufacturers utilize raw materials like Steel and Stainless Steel to construct Heavy-duty Marine Arms, incorporating features like Gun's breach, High-pressure air, and Counterweight systems, to meet the demands of Marine Vessels and Ports and Terminals.
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. Key components of these loading arms include motorized systems, quick-connect fittings, swivel joints, and hydraulic movement for tight seals between the ship's manifold flange and the loading arm. In marine vessels and ports/terminals, direct hose hookups are essential for efficient and safe LNG transfer. The counterweight system ensures stable arm movement during loading and unloading processes. Marine loading arms must withstand the rigors of marine environments, handling both liquids and gases, and require robust gaskets and O-rings for maintaining a tight seal.
Market Drivers
The Marine Loading Arms Market caters to Carriers, Ports, and Terminals in the oil and gas industry. These loading arms, manufactured from steel and stainless steel, facilitate the transfer of produced oil, LNG, and LPG from marine vessels to onshore facilities. Marine environments necessitate robust equipment, including counterweight systems, gun's breach, motorized arms, and direct hose hookups. Swivel joints ensure hydraulic movement, while quick-connect fittings and tight seals (gaskets, O-rings) maintain a ship's manifold flange for high-pressure air and liquid transfers. Marine vessels and marine equipment, such as loading arms, operate in various marine environments, handling both liquids and gases, requiring raw materials like pipes and tubes for efficient transfer. LNG fuel is increasingly adopted, further expanding the market scope.
Market Overview
The Marine Loading Arms market encompasses a range of products used for transferring cargo from ships to onshore facilities and vice versa. Key components include Gas Tight Panels, Flanges, Unions, Fittings, Valves, Pumps, and Control Systems. These arms are essential for the efficient and safe loading and unloading of various materials such as Liquefied Natural Gas (LNG), Liquefied Petroleum Gas (LPG), and Oil. The market is driven by the increasing demand for these energy sources and the need for faster and more efficient loading processes. Companies such as Gaskets, Orpington, and Morrison-Knudsen manufacture and supply these loading arms to meet the demands of the oil and gas industry. The market also includes services for repair, maintenance, and testing of these arms to ensure their optimal performance. Quotes for these services and components can be obtained from various suppliers and distributors.
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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.
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Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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