Increasing Seaport Activities of Ship-to-Shore Cranes Market
The global Ship-to-Shore Cranes Market is estimated to be valued at US$ 1.29 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Ship-to-Shore cranes have high lifting capacities ranging between 50-1250MT which allows them to efficiently handle mega container ships. They enable fast transfer of cargo from the vessel to the quay which boosts port throughput. Their outreach of 50-90 meters permits berthing of ultra large container vessels close to shore.
Weakness: Ship-to-Shore cranes require large capital investments and have high maintenance costs. Their operational life spans 10-15 years only due to heavy wear and tear from continuous usage. Downtime for repairs increases costs significantly.
Opportunity: Growing maritime trade and increasing vessel sizes present opportunities to expand operations. Port terminals are investing in additional Ship-to-Shore cranes to handle higher volumes. Emerging markets in Asia Pacific and Middle East regions offer scope to tap new demand.
Threats: Slowdown in global trade poses risks to crane utilization levels. Rising competition from automated port equipment challenges market shares. Dependency on fluctuating freight rates impacts demand cycles.
Key Takeaways
The Global Ship-To-Shore Cranes Market Size is expected to witness high growth. The market size is projected to reach US$ 1.29 Billion by 2023 registering a CAGR of 10% during the forecast period.
Regional Analysis: Europe continues to remain a major market driven by strong maritime trade links. Major ports in Germany, Netherlands, Belgium, France and United Kingdom are opting for equipment replacement and capacity expansions. Large projects are ongoing at the ports of Rotterdam and Antwerp. North America is witnessing steady investments to upgrade ageing port equipment and boost efficiency. Port of Los Angeles, Long Beach and New York have placed bulk orders.
Key players operating in the Ship-to-Shore Cranes market are TianJin Lishen Battery Joint-Stock Co. Ltd., BYD Co. Ltd., Tesla Incorporation, Contemporary Amperex Technology Co. Limited, Showa Denko K.K. Their product portfolio includes rail-mounted gantry cranes, rubber-tired gantry cranes, and ship-to-shore cranes. The market remains concentrated among these major players who have established global sales and service networks to strengthen customer support.
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