Global Ship-to-Shore Cranes Market to Reach US$ 4.4 Billion by 2032, Propelled by Expanding Container Traffic and Transshipment Activities

August 05, 2022 | Heavy Industry

IMARC Group’s latest report, titled “Ship-to-Shore Cranes Market Report by Product Type (High Profile Cranes, Low Profile Cranes), Power Supply (Diesel, Electric, Hybrid), Outreach (Upto 40m, 40m to 49m, 50m to 60m, Greater than 60m), Lifting Capacity (Panamax STS Cranes, Post Panamax STS Cranes, Super-Post Panamax STS Cranes), and Region 2024-2032,” finds that the global ship-to-shore cranes market size reached US$ 3.0 Billion in 2023. Ship-to-shore (STS) cranes refer to gantry cranes used in docks and port terminals for loading and unloading shipping containers. They consist of the main boom, trolley, cabin, spreader, legs, boogie set, and wheels. They provide high reliability, power regeneration, reduced weight and center of gravity, minimum downtime, low lifecycle costs, enhanced performance, and a robust structure optimum for terminal automation. Nowadays, the leading manufacturers are offering lightweight and durable STS cranes that require low maintenance in modular designs that can be customized according to the customer’s requirements.

Global Ship-to-Shore Cranes Market Trends:

The expanding container traffic and transshipment activities represent the primary factor driving the market growth. Additionally, the increasing adoption of online retail channels for purchasing imported goods has strengthened the need for shipping containers to facilitate cross-border e-commerce activities. In line with this, the implementation of favorable export and import policies by governments of various countries to promote the local manufacturing of goods and international trade has augmented the demand for STS cranes to enhance the reliability and productivity of port terminals. Furthermore, several key players are integrating advanced technologies, such as electronic load systems (ELC) and ship profiling systems (SPS), to facilitate the safe transfer of containers and improve driver safety. Along with this, recent technological advancements, such as automation and external control of STS cranes through joysticks or remote computers that allow controllers to monitor crane operations without distortion of vision due to rain, wind, or fog, have catalyzed market growth. Besides this, the shifting focus toward port automation to reduce human errors, optimize power consumption, and enhance container management efficiency is positively influencing market growth. Other factors, including the growing vessel sizes, escalating demand for maritime trade, increasing investments in port infrastructure development, and rapid globalization and industrialization, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 4.4 Billion by 2032, expanding at a CAGR of 4.24% during 2024-2032. 

Market Summary:

  • Based on the product type, the market has been bifurcated into high and low-profile cranes.
  • On the basis of the power supply, the market has been divided into diesel, electric, and hybrid. 
  • The market has been categorized based on the outreach into upto 40m, 40m to 49m, 50m to 60m, and greater than 60m.
  • Based on the lifting capacity, the market has been classified into Panamax, post-Panamax, and super-post Panamax STS cranes.
  • Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being Anupam Industries Limited, Bridon-Bekaert Ropes Group (N.V. Bekaert S.A.), Cargotec Oyj, Dana Incorporated, Liebherr-International AG, Mac Port-Macchine Operatrici Portuali SRL, Noell Crane Systems (China) Limited, Paceco Corporation (Mitsui Engineering & Shipbuilding), Sany Heavy Industry Co. Ltd., Shanghai Zhenhua Heavy Industries Company Limited (China Communications Construction Group Limited), Terex Corporation, and Wison Group.

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Global Ship-to-Shore Cranes Market to Reach US$ 4.4 Billion by 2032, Propelled by Expanding Container Traffic and Transshipment Activities
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