3-June-2019: The global ship-to-shore cranes market size is
anticipated to reach USD 3.29 billion by 2025, according to a new study by
Grand View Research, Inc. It is anticipated to expand at a CAGR of 4.8% over
the forecast period. Increased sizes of vessels and steady container traffic
are expected to fuel the market growth over the forecast period.
Increased port throughput-peaks
have elevated the number of installations of ship-to-shore (STS) cranes, as
they help speed up container movement. This trend has witnessed a rise post the
expansion of the Panama Canal. Moreover, rising use of large-sized vessels,
such as Panamax and Post-Panamax ships, require STS cranes with longer
outreach. This factor will further aid the demand for STS cranes in near
future.
Use of large-sized container
vessels by major shipping lines is growing, which, in turn, is driving the
development of deep inland waterways for better accommodation of these ships.
Thus, ports are compelled to invest in high-capacity equipment that help in
loading and unloading containers from these vessels. Port authorities in Asia
Pacific region have undertaken various large scale port infrastructure
developments projects. This factor is anticipated to contribute to market
expansion in the forthcoming years.
Electric ship-to-shore cranes
are expected to aid market growth, especially in developed regions such as
Europe and North America. Strict regulations imposed by the governments in
these regions have enabled adoption of electric STS cranes. For instance, in Europe,
regulations pertaining to port emissions are expected to favor installation of
electric STS cranes in the years to come. These cranes help port authorities
save costs by eliminating the use of conventional diesel engines, thereby,
reducing maintenance cost as well.
Technological advancements,
such as automation and external control of STS cranes via remote computers.
They further allow the controller to monitor crane operations without
distortion of vision caused by rain, wind, or fog. The technology also provides
driver safety and improves operational efficiency. Additionally, automation
helps optimize power consumption, which helps curb noise and emissions of the
cranes.
In
depth research report on Ship-To-Shore Cranes Market
Further
key findings from the study suggest:
· The
>60 outreach emerged dominant in the ship-to-shore cranes market with a
valuation of USD 1.15 billion in 2016
· New
ports as well as retrofit projects, are enabling substantial amount of
investment in new STS cranes
· Asia
Pacific is expected to expand at a CAGR of 5.8% over the forecast period owing
to favorable government investments in port development
· Electric-powered
STS cranes are anticipated to CAGR at a CAGR of 5.8% over the span of next
eight years
· Ports
in Latin America are expected to undergo expansion due to development of the
Panama Canal. The region is expected to witness increased container traffic,
which is predicted to increase the installations of STS cranes
· The key
market participants include Shanghai Zhenhua Heavy Industries Co., Ltd.,
Konecranes, Kalmar, Noell Crane Systems (China) Limited, Kranunion GmbH,
Liebherr-International AG, Wison Group, SANY Group Co., Ltd., MAC PORT Macchine
Operatrici Portuali s.r.l, and Anupam Industries Limited.
Grand View Research 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)
· <40
· 40-49
· 50-60
· >60
Ship-to-Shore
Cranes Power Supply Outlook (Revenue, USD Million; 2014 - 2025)
· Diesel
· Electric
· Hybrid
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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