The global ship-to-shore cranes market size is projected to value at USD 3.29 billion by 2025, according to a new report published by Million Insights, with a CAGR of 4.8% from 2017 to 2025.Increased container traffic and large-sized vessels are anticipated to surge market growth.
Higher port throughput-peaks have led to numerous installations of STS cranes to enhance the speed of the container. The trend has observed further growth since the expansion of the Panama Canal. Additionally, increased usage of large vessels, like, Post-Panamax and Panamax ships need STS cranes with a higher reach which is expected to surge the demand for ship-to-shore cranes in the upcoming years.
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The extensive adoption of large-sized vessels has led to the development of inland waterways for the accommodation of ships. Therefore, ports are motivated to increase investment in high-capacity instruments to enable unloading and loading containers from the vessels. The officials of the port industry in the Asia Pacific region have initiated several large scale infrastructural development projects which are expected to enhance market expansion over the years.
Electric STS cranes are anticipated to strengthen market growth, mainly in regions like North America and Europe. Stringent regulations implemented by the regional governments have allowed the use of electric STS cranes. For example, in Europe, rules relating to port emissions are anticipated to support the installation of these cranes in the near future. They reduce costs by preventing the use of traditional diesel engines, thus, lowering maintenance costs.
Technological up gradations like external control and automation of STS cranes through computers are expected to bode well for the growth of the ship-to-shore cranes market over the forecast period. Additionally, they enable the driver to control crane operations without disruption of vision due to wind, fog or rain. The technology further enables driver safety along with operational efficiency. Automation also maintains power consumption that helps combat emissions and noise from the cranes.
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Further key findings from the report suggest:
• The >60 outreach held a dominant position valuing at USD1.15 billion in 2016.
• The latest projects coupled with retrofit projects are allowing notable investments in new ship-to-shore cranes.
• Asia Pacific is anticipated to register a CAGR of 5.8% from 2017 to 2025 due to positive government investments in the development of ports.
• Ports in the region of Latin America are projected to expand owing to the development of the Panama Canal. The regional market is anticipated to observe higher container traffic, which might surge the crane installations.
• Some major players in the STS cranes market are Konecranes, Kalmar, Shanghai Zhenhua Heavy Industries Co., Ltd., Kranunion GmbH, Noell Crane Systems (China) Limited, Wison Group, Liebherr-International AG, MAC PORT MacchineOperatriciPortualis.r.l, Anupam Industries Limited, and SANY Group Co., Ltd.
Million Insights has segmented the global ship-to-shore cranes market based on outreach, power supply, and region:
Ship-to-Shore Cranes Outreach Outlook (Revenue, USD Million; 2014 – 2025)
Ship-to-Shore Cranes Power Supply Outlook (Revenue, USD Million; 2014 – 2025)
Ship-to-Shore Cranes Regional Outlook (Revenue, USD Million; 2014 – 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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