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| Global Ship-To-Shore Cranes Market Growth |
The global Ship-to-Shore Cranes Market is estimated to be valued at US$ 1.29 Bn 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:
Ship-to-shore cranes, also known as gantry cranes, are used in ports for loading
and unloading containers between ships and quay cranes. They have large lifting
capacities ranging from 30 to 50 tons. Ship-to-shore cranes provide efficient
handling of containers and help reduce turnaround time of ships at ports. They
feature remote radio control operations for safer loading and unloading of
containers even in harsh weather conditions. Growing maritime trade and
increasing investments in port infrastructure expansion are fueling demand for
ship-to-shore cranes.
Market key trends:
One of the key trends in the ship-to-shore cranes market is the development of
automated and electric cranes. Automated cranes utilize technologies such as
automated stacking cranes, automated guided vehicles, and yard cranes to
streamline container handling processes. Electric cranes are more
environment-friendly as they produce zero emissions during operations. They
also offer lower operating costs compared to diesel cranes over the lifespan.
Another emerging trend is the adoption of ship-to-shore gantry cranes with
larger lifting capacities of 50-60 tons to efficiently handle ultra-large
container vessels. Innovation towards developing safer and more productive
cranes will continue to boost the ship-to-shore cranes market during the
forecast period.
Porter's Analysis
Threat of new entrants: Low capital requirements and lack of need for vast
infrastructure pose low barriers to entry. However, established players hold
majority market share through strong brand recognition and customer loyalty.
Bargaining power of buyers: Buyers have moderate bargaining power due to
availability of options from different manufacturers. However, switching costs
associated with training and operational aspects increase buyer dependency on
existing suppliers.
Bargaining power of suppliers: Suppliers of raw materials like steel have
moderate bargaining power due to limited number of raw material suppliers and
differentiated products. However, availability of substitutes curtails
suppliers' ability to hike prices.
Threat of new substitutes: Threat from substitutes is low as ship-to-shore
cranes have distinct capabilities over possible substitutes like forklifts.
However, continuous technological advancements pressurize players to innovate.
Competitive rivalry: The global market is moderately consolidated with presence
of few large players. Intense competition over pricing and product
differentiation has compelled players to increase R&D spending to launch
application-specific solutions.
Key Takeaways
The Global
Ship-To-Shore Cranes Market Growth is expected to witness high growth,
exhibiting CAGR of 4.1% over the
forecast period, due to increasing seaborne trade volumes and capacity
expansion of ports globally.
Regional analysis: The Asia Pacific region dominated the global market in 2023
with over 35% share, led by countries like China and India. This was due to
strong presence of manufacturing units and increasing trade activities.
However, Europe and North America are slated to witness fastest growth during
the forecast period with rising freight transportation via ships.
Key players: 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. Major players are focusing on partnerships with
ports to strengthen regional foothold and product innovations for addressing
specialty requirements.
Read More: https://www.rapidwebwire.com/ship-to-shore-cranes-market-share/