July 16, 2024
Ship-To-Shore Cranes Market

Global Ship-To-Shore Cranes Market Is Estimated To Witness High Growth Owing To Increasing Port Infrastructure Investments & Expanding Shipping Industry

The global Ship-To-Shore Cranes market is estimated to be valued at US$ 1.1 Bn in 2019 and is expected to exhibit a CAGR of 4.1% over the forecast period 2020-2027, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

Ship-to-Shore Cranes are essential equipment used in ports and terminals for efficient loading and unloading of containers from ships to shore. These cranes play a crucial role in optimizing port operations and improving overall productivity. With the increasing demand for goods and globalization of trade, there is a growing need for expanding port infrastructure and enhancing efficiency in container handling. Ship-to-Shore Cranes are key components of port infrastructure, enabling seamless cargo transfer and facilitating smooth operations.

B) Market Dynamics:

The ship-to-shore cranes market is driven by two major factors. Firstly, the increasing investments in port infrastructure drive the demand for ship-to-shore cranes. With the growth in international trade and container shipping, ports need to cater to higher volumes of cargo. This necessitates the expansion and modernization of port facilities, including the installation of efficient cranes. Additionally, the expanding shipping industry is another driver for the market. As global trade continues to grow, maritime transportation becomes a preferred mode. Ship-to-shore cranes enable faster loading and unloading of containers, reducing turnaround time for ships and ensuring smooth operations.

For example, the Asian Development Bank (ADB) has been actively investing in port infrastructure development projects in Asia-Pacific countries. In May 2021, the ADB approved a loan of $1 billion for the construction of 3 mega container berths and other infrastructure at the Chittagong Port in Bangladesh. This investment will boost the demand for ship-to-shore cranes in the region.

C) Segment Analysis:

The ship-to-shore cranes market can be segmented based on lift capacity and outreach. The lift capacity segment includes cranes with a lift capacity of up to 50 tons, 50-100 tons, and above 100 tons. The outreach segment includes cranes with an outreach of up to 30 meters, 30-45 meters, and above 45 meters.

Currently, ship-to-shore cranes with a lift capacity of 50-100 tons dominate the market. These cranes are widely used in medium-sized and large ports, as they offer the right balance between capacity and cost. With the increasing cargo volumes and the need for efficient container handling, the demand for larger capacity cranes, such as above 100 tons, is also expected to grow in the coming years.

D) PEST Analysis:

Political: The political environment plays a crucial role in the ship-to-shore cranes market. Government policies and regulations related to international trade, port development, and infrastructure investments impact the growth and demand for these cranes.

Economic: Economic factors such as GDP growth, industrialization, and international trade directly influence the demand for ship-to-shore cranes. Economic stability and investments in port infrastructure drive market growth.

Social: The growing population, urbanization, and changing consumer preferences impact global trade and, subsequently, the ship-to-shore cranes market. Increasing consumer demand for imported goods drives the need for efficient port operations.

Technological: Technological advancements in crane design, automation, and remote control systems have significantly improved the efficiency and safety of ship-to-shore cranes. Integration of IoT and AI technologies offers opportunities for further innovation and optimization in this market.

E) Key Takeaways:

The Global Ship-To-Shore Cranes Market Size is expected to witness high growth, exhibiting a CAGR of 4.1% over the forecast period, due to increasing port infrastructure investments and the expanding shipping industry. Investments in port infrastructure projects by organizations such as the Asian Development Bank drive the demand for ship-to-shore cranes.

In terms of regional analysis, Asia-Pacific is the fastest-growing and dominating region in the ship-to-shore cranes market. The region has a significant presence of key players and experiences substantial trade volumes. The continuous growth in international trade and the development of mega ports in China, India, and Southeast Asian countries contribute to the market’s growth in this region.

Key players operating in the global ship-to-shore cranes market include Liebherr-International AG, Shanghai Zhenhua Heavy Industries Co., Ltd., Wison Group, Konecranes, Kalmar, Kranunion GmbH, Sany Group Co., Ltd., Noell Crane Systems (China) Limited, Anupam Industries Limited, and MAC PORT Macchine Operatrici Portuali s.r.l. These players focus on strategic partnerships, product innovation, and expansion to strengthen their market position and cater to the growing demand for ship-to-shore cranes.