The Global Ship-to-Shore Cranes Market, By Type (High Profile Cranes, Low Profile Cranes), By Lifting Capacity (Panamax STS Cranes, Post Panamax STS Cranes, Super-Post Panamax STS Cranes), By Outreach (<40, 40-49, 50-60, >60) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Global Forecast to 2027”, is expected to be valued at US$ 4.32 Billion by 2027, exhibiting a CAGR of 4.1% during the forecast period (2020-2027), as highlighted in a report published by Coherent Market Insights.
Overview
Ship-to-shore (STS) cranes are custom-designed and constructed container cranes. These cranes are specially designed as per individual terminal requirements. A ship-to-shore crane installation is comprised of a quay. Generally, a ship-to-shore crane is powered by diesel, electricity or hybrid. STS offers high efficiency and productivity as compared to conventional container cranes. Major features of STS include high-speed traversing, automatic positioning, intelligent control on spreader track, anti-sway technology, and more.
The global ship-to-shore cranes market is estimated to account for US$ 4.32 Bn in terms of value by the end of 2027.
Market Driver
Retrofitting and replacement of existing container cranes is expected to propel the global ship-to-shore cranes market during the forecast period
Many ports are retrofitting and replacing existing container cranes that have become outdated. Since global maritime trade is increasing rapidly, it has become crucial to replace existing conventional cranes with ship-to-shore cranes. For instance, in July 2020, the Port of Virginia received US$ 14 million from the State of Virginia for two more electric ship-to-shore cranes. Thus, these factors are expected to drive growth of the global ship-to-shore cranes market during the forecast period.
Market Opportunity
Advent of hybrid ship-to-shore cranes can present lucrative growth opportunities in the global ship-to-shore cranes market
Many ports are replacing existing diesel-powered cranes with hybrid ship-to-shore cranes. These novel container cranes are energy-efficient and produce a lower carbon footprint as compared to conventional diesel-powered container cranes. For instance, in March 2019, Port of Oakland retrofitted hybrid power at the Oakland International Container Terminal. The primary aim of this retrofitting to reach the goal of zero-emissions operations.
Market Restraint
Lack of availability of components and equipment is expected to restrain growth of the global ship-to-shore cranes market during the forecast period
Lack of availability of components and equipment required to set up container cranes, especially in emerging economies remains a major challenge. This is also due to a shortage of sufficient manpower to install ship-to-shore crane and related equipment is hindering the adoption of STS cranes. Hence, these factors are expected to hinder the global ship-to-shore cranes market growth over the forecast period.
Market Trends
Research and development activities among market players
Key companies are focused on research and development activities, in order to expand the product portfolio and gain a significant advantage in the market. For instance, in August 2020, Baltic Container Terminal, a subsidiary of Hili Company, introduced a new ship-to-shore crane with a lifting capacity of 45 tons under spreader and outreach of 47 meters and lift above the quay level of 34 meters. Furthermore, in September 2018, ABB Ports launched a real-time visualization application for the entire team handling ship-to-shore crane.
Competitive Section
Major companies operating in the global 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.
Key Developments
- Major companies are focused on contracts and agreements, in order to enhance the market presence. For instance, in January 2020, Liebherr Container Cranes, a subsidiary of Liebherr International AG, received a contract from Montreal Gateway Terminals Partnership for the supply of ship-to-shore container cranes.
- Key players are involved in orders and contracts, in order to gain a competitive edge in the market. For instance, in March 2018, Konecranes received a deal from Port of Helsinki, Finland for ship-to-shore cranes with the biggest widespan.
- Key market players are involved in collaboration and partnership, in order to gain a significant advantage in the market. For instance, in May 2020, Konecranes collaborated with Fluidmesh Networks to deliver the first 100% wireless automated rubber-tired gantry (ATRG) crane system.
Segmentation
Market Taxonomy:
- By Type
- High Profile Cranes
- Low Profile Cranes
- By Lifting Capacity
- Panamax STS Cranes
- Post Panamax STS Cranes
- Super-Post Panamax STS Cranes
- By Outreach
- <40
- 40-49
- 50-60
- >60
- By Region
- North America
- Europe
- Asia Pacific
- ROW
