by The ship-to-shore cranes market involves equipment that are used for loading and unloading of cargo from large ships at ports to material handling facilities. These cranes have high load capacity ranging from 30-80 tons and can work efficiently to transfer containers stacked on board ships to storage yard or warehouse in quay side. They offer flexibility of movement in horizontal and vertical directions along with 360 degree rotation ability for effective cargo handling.
The Global Ship-To-Shore Cranes Market Demand is estimated to be valued at US$ 1.49 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Key Takeaways
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., Duracell Inc., Samsung SDI, EnerSys, Saft Groupe SA, GS Yuasa Corporation, Panasonic Corporation, Clarios, and LG Chem Ltd. With the growing global trade and surge in container traffic at ports, the demand for modern ship-to-shore cranes is increasing rapidly. The key players are focusing on developing automated and advanced ship-to-shore cranes with higher lifting capacities and greener technologies to cater to the rising cargo handling needs.
The growing demand in international trade has led to a significant growth in sea-borne cargo volumes globally. As per industry estimates, the global sea trade rose by around 4.2% in 2020 and is expected to exhibit over 4% growth annually until 2030. This expanding cargo traffic at ports has propelled the demand for efficient ship-to-shore cranes that can manage thousands of containers swiftly. The new installations and replacements of aged equipment are supporting the ship-to-shore cranes market growth.
The ship-to-shore cranes market is expanding globally with the rising imports and exports activity across countries. The emerging economies in Asia Pacific and Middle East regions are witnessing massive port infrastructure developments. This has encouraged global providers to expand their ship-to-shore cranes business in high potential markets. The ship-to-shore cranes manufacturers are enhancing their aftersales services and focus on product reliability to strengthen global foothold.
Market key trends
One of the key trends witnessed in the ship-to-shore cranes market is the increasing focus on automation. The industry leaders are developing autonomous ship-to-shore cranes with advanced technologies such as remote monitoring, predictive maintenance, and auto steering functions. This helps improve productivity, reduce human errors and minimizes downtime. The automated cranes can boost overall operational efficiencies at ports manifolds.
Porter’s Analysis
Threat of new entrants: The ship-to-shore cranes market requires high capital investments and there are already established players operating in the market. So the threat of new entrants is low.
Bargaining power of buyers: Since there are many established players providing ship-to-shore cranes, the bargaining power of buyers is high as they can negotiate on better prices and demand value-added services.
Bargaining power of suppliers: Major suppliers of components such as motors and electronics have significant influence over ship-to-shore crane manufacturers. Suppliers can leverage their specialized components to dictate pricing and other terms.
Threat of new substitutes: There are no close substitutes for ship-to-shore cranes. However, advancements in automation may lead to container handling equipment emerging as substitutes.
Competitive rivalry: Being a consolidated market, competition is intense among major players to gain market share by expanding their product portfolio and global presence.
North America region
North America accounts for a significant share of the global ship-to-shore cranes market in terms of value. This is due to the large number of container shipping activities at ports in countries like the US and Canada. Major ports on the west and east coast further aid market growth through trade activities.
Asia Pacific region
The Asia Pacific region is expected to witness the fastest growth in the ship-to-shore cranes market during the forecast period. This is attributed to the rising seaborne trade, especially container trade between countries in East Asia, South Asia, and Oceania. Countries such as China, India, and Indonesia are investing heavily in port infrastructure development which involves procurement of modern ship-to-shore cranes.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
