The global Ship-to-Shore Cranes Market is estimated to be valued at US$ 1.29 Bn or Billion in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Ship-to-shore cranes, also known as gantry cranes, are mounted on a beam or rails and are used for loading and unloading containers or other cargo from container ships and feeder vessels at container terminals.. Ship-to-shore cranes provide efficient loading and unloading of containers and help reduce turnaround time of vessels.
Market key trends:
Increasing seaborne trade activities are a key trend contributing to the growth of ship-to-shore cranes market. Around 80-90% of global trade by volume is carried by sea. Majority of goods manufactured in China are transported overseas through sea routes. Growing industrial and economic activities in Asia Pacific and Middle East regions have significantly increased trade volumes handled at ports. This has increased demand for advanced ship-to-shore cranes that can efficiently handle larger vessel and higher volumes of containers. Another major trend is growing demand for automation in ship-to-shore cranes. Automatic guided vehicles (AGVs) and automated stacking cranes (ASC) help improve operational efficiency by reducing human interventions and errors during loading/unloading.
SWOT Analysis
Strength: Ship-to-shore cranes have high load capacities that enable efficient loading and unloading of large cargo ships. They provide faster turnaround times for vessels compared to traditional loading methods.
Weakness: Ship-to-shore cranes require high capital investments and have high maintenance costs. Downtime for repairs can significantly impact port operations.
Opportunity: Growing maritime trade and increasing container vessels traffic is driving the need for modern port equipment. Ship-to-shore cranes help ports handle larger ships and higher volumes of cargo efficiently.
Threats: Economic slowdowns can negatively impact global trade and demand for port equipment. Strict environmental regulations pose technological challenges for older ship-to-shore cranes to meet emission norms.
Key Takeaways
The Global Ship-To-Shore Cranes Market Growth is expected to witness high growth, exhibiting CAGR of 4.1% over the forecast period, due to increasing containerized cargo traffic globally. Larger cargo volumes are boosting investments in port infrastructure and cargo handling equipment.
Regional analysis: Asia Pacific dominates the global market and is expected to continue its lead, owing to strong investments by China and India to boost port capacity. European and North American regions are also lucrative markets with presence of modern ports and container terminals. The Middle East and Africa are emerging markets for ship-to-shore cranes with rapid growth in regional maritime trade.
Key players operating in the ship-to-shore cranes market are 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. Major players are focusing on product launches and partnerships with terminal operators to strengthen their presence across regions.
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