The Ship-to-Shore Cranes market is estimated to be valued at US$ 1.29 Bn or Mn 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:
The ship-to-shore cranes market involves products that are used for loading and unloading cargo from container ships and bulk carriers. These cranes travel on rails installed on quay cranes and have a lifting capability of 40-50 tons. They assist in efficient discharge and loading of containers from and to the ships parked at ports. With rapidly growing seaborne trade volumes worldwide, the demand for automated and advanced ship-to-shore cranes is increasing.
Market Dynamics:
Growth in global seaborne trade volumes is a key factor driving the ship-to-shore cranes market. According to the United Nations Conference on Trade and Development (UNCTAD), seaborne trade volumes grew by an estimated 4.3% in 2021 from 2020 levels. Rapid industrialization and globalization has led to increasing trade dependencies between countries via sea routes. This has positively impacted the demand for cranes that facilitate efficient loading and unloading of containers and bulk cargo at ports. Additionally, increasing deployment of automated and digitally advanced ship-to-shore cranes equipped with features such as auto steering, load moment indication, and remote monitoring is also propelling the market growth. However, high initial capital investments for automating cranes remains a challenge, especially for ports in developing regions.
SWOT Analysis
Strength: Ship-to-Shore cranes have a high load capacity which enables efficient handling of containers. Their continuous operation allows for speedy loading and unloading of vessels. They offer operators precise positioning and speedy transporation of cargo due to advanced automation techologies.
Weakness: Higher initial investment costs for Ship-to-Shore cranes makes them unsuitable for ports with low container throughput. Frequent repairs and maintenance are required to ensure smooth operation which increases operational expenses.
Opportunity: Growing maritime trade and increasing container traffic at ports presents an opportunity for higher sales of these cranes. Automation of port operations through technologies like IoT and AI can optimize crane utilization rates.
Threats: Slowdown in global trade due to geopolitical issues pose a threat to demand growth. Technological advancements in container handling equipment may reduce dependency on Ship-to-Shore cranes.
Key Takeaways
The Global Ship-To-Shore Cranes Market Growth is expected to witness high growth, exhibiting a CAGR of 4.1% over the forecast period, due to increasing maritime trade volumes.
Regional analysis: The Asia Pacific region currently dominates the market with a share of over 35% due to the presence of busiest container ports in China and India. China is the fastest growing market for Ship-to-Shore cranes due to its “Belt and Road” initiative expanding trade links.
Key players analysis: 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. The market remains moderately concentrated with top players investing in automation technologies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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