February 21, 2024
Ship-to-Shore Cranes Market

5G Is Fastest Growing Segment Fueling The Growth Of Ship-To-Shore Cranes Market

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 port cranes, are large dockside gantry cranes used for loading and unloading cargo like containers to and from ships. They aid in efficiently transporting cargo from ship to shore and vice versa. Ship-to-shore cranes provide faster means of loading/unloading operations compared to conventional methods.

Market key trends:
One of the key trends driving growth in the ship-to-shore cranes market is the increasing adoption of automation technologies like 5G connectivity. 5G technology allows digitization of port operations and automation of cranes. It ensures faster data transmission between cranes and warehouses. Using 5G, ship-to-shore cranes can be remotely monitored and managed in real-time, enhancing productivity and efficiency of loading/unloading process. The technology reduces human errors and makes operations safer. Leading players are focusing on developing 5G-enabled smart ship-to-shore cranes to capitalize on growth opportunities in automation.
Segment Analysis
The Global Ship-To-Shore Cranes Market Growth is dominated by the mobile harbor cranes segment. Mobile harbor cranes are commonly used at container terminals to handle containers from vessel to quay. They offer flexibility of operation as they can traverse along the quay on rails, lift and transfer shipping containers efficiently. Their mobility allows them to serve multiple berths. Due to high demand for container handling at ports and efficiency of mobile harbor cranes in operations, the segment holds more than 60% share of the global market.

Key Takeaways
The global ship-to-shore cranes market is expected to witness high growth, exhibiting CAGR of 4.1% over the forecast period, due to increasing seaborne trade volumes, port terminal capacity expansion, and growing adoption of automated equipment for ship operations.

Regional analysis:
Asia Pacific region currently dominates the ship-to-shore cranes market with over 35% share, led by countries such as China, India and Japan. The region is expected to continue its dominance over the forecast period due to rapid growth of ports and international trade. Europe and North America are other major markets for ship-to-shore cranes.

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. Leading players are focusing on product innovations and development of automated crane technologies to improve cargo handling efficiency at ports.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it