Ship-to-Shore Cranes Market : Global Trends, Size & Growth Forecast (2023-2032)

Increase in number of ports has increased the number of ship-to-shore (STS) cranes installed since they help in fast container movement. This development has risen after the expansion of the Panama Canal. Additionally, rising use of large-sized vessels, such as Panamax and Post-Panamax ships, requires STS cranes with extended outreach. This factor will further aid the demand for STS cranes. A major factor driving the container crane market is the progress of the marine sector. These advances are mainly reflected in the field of trade through ships, merchant ships and other types of ships.

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Use of large-sized ship vessels by major transport lines is growing, which, in turn, is driving the expansion of deep inland waterways for better accommodation of these ships. As a result, ports are forced to invest in high-capacity equipment to help load and unload containers from these ships. Port authorities in the Asia-Pacific region have undertaken various large-scale port infrastructure development projects. Electric ship-to-shore cranes are expected to contribute to market growth, especially in developed regions such as Europe and North America. The strict regulations imposed by the governments of these regions have allowed the adoption of electric STS cranes. For example, in Europe, regulations on port emissions are expected to facilitate the installation of electric STS cranes in the next few years. These cranes do not need to use traditional diesel engines, thereby helping port authorities to save costs, thereby reducing maintenance costs.

COVID-19 Impact analysis

The global market for ship-to-shore cranes is severely impacted by the outbreak of the COVID-19 pandemic. The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns. Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply-demand gap. Thus, insufficiency in raw material supply is expected to hamper the production rate of ship-to-shore cranes, which negatively impact the market growth. However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.

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Top Impacting Factor

Increased sizes of vessels and steady container traffic, technological development and innovation, and rapid industrialization and urbanization are driving the growth of the market.

High installation cost, maintenance cost, lack of availability of components and equipment required to set up cranes in remote and underdeveloped regions is expected to hamper the growth of the market.

Port authorities in Asia Pacific region have undertaken various large scale port infrastructure developments projects, modernization of existing STS cranes and ports can be seen as an opportunity for the market investments.

The ship-to-shore (STS) cranes market trends are as follows:

Technological development and innovation

Technological development, such as automation and external control of STS cranes via joystick or remote computers. They also allow the regulator to monitor crane process without visual distortion caused by rain, wind or fog. Furthermore, in June 2020, National Renewable Energy Laboratory (NREL), Pacific Northwest National Laboratory (PNNL), and Sandia National Laboratories (SNL) in collaboration developed a Marine and Hydrokinetic Toolkit (MHKiT) launched open-source software. The technology development also provides driver safety and increases operational efficiency. Moreover, automation helps optimize power intake, which helps curb noise and emissions of the cranes. Thus, technological development and innovation will help to grow market of ship-to-shore cranes market.

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Rapid industrialization and urbanization

The rapid industrialization and urbanization of advanced and emerging economies have led to an increase in maritime transportation. According to data from the United Nations (UN), it is estimated that by 2050, approximately 68% of the world's population will live in urban areas, compared with 751 million in 1950. Hence, these factors are expected to propel the global ship-to-shares cranes market growth over the forecast period.

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