SAN FRANCISCO, May 1, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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.
Read 138 page research report with TOC on "Ship-To-Shore Cranes Market Size, Share & Trends Analysis Report By Outreach (<40, 40-49, 50-60, >60), By Power Supply (Diesel, Electric, Hybrid), By Region (North America, APAC, MEA), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/ship-to-shore-cranes-market
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.
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)
- Ship-to-Shore Cranes Power Supply Outlook (Revenue, USD Million; 2014 - 2025)
- Ship-to-Shore Cranes Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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