The Ship-to-Shore Cranes Market is Anticipated to Witness High Growth Owing to Increasing Maritime Trade Volumes

Ship-to-Shore Cranes Market 


 Ship-to-shore cranes, also known as seaside cranes, are large dockside gantry cranes used for loading and unloading cargo from container ships. They are designed to lift containerized freight quickly and efficiently, with massive outreach allowing them to service the widest vessels. Ship-to-shore cranes play a vital role in ports by facilitating the smooth transfer of goods between ships and transport vehicles. The global ship-to-shore cranes market is estimated to be valued at US$ 1.49 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period of 2024 to 2031.


Key Takeaways

Key players operating in the Global Ship-To-Shore Cranes Market Demand are TianJin Lishen Battery Joint-Stock Co. Ltd., BYD Co. Ltd., Tesla Incorporation, Contemporary Amperex Technology Co. Limited, Showa Denko K.K., Duracell Inc., Samsung SDI, EnerSys, Saft Groupe SA, GS Yuasa Corporation, Panasonic Corporation, Clarios, and LG Chem Ltd. These players are focusing on strategic collaborations to develop advanced ship-to-shore crane technologies and expanding their global footprint in key ports.

The growing marine trade volumes driven by increasing globalization of supply chains and rising imports/exports present significant opportunities for players in the ship-to-shore cranes market. Major ports across world regions are undertaking capacity expansion projects which will drive demand for new ship-to-shore cranes.

Key players are also expanding their presence in emerging markets like Asia Pacific, Middle East, and South America by partnering with local port authorities to gain first-mover advantages. For instance, Shanghai Zhenhua Heavy Industries partnered with Jawaharlal Nehru Port Trust in India to supply ship-to-shore cranes. Global expansion will help players cement their leadership positions.

Market Drivers and Restraints

The global maritime trade has been increasing consistently over the past few decades owing to globalization and opening of new trade routes. Around 80% of global trade by volume is carried via shipping and the demand for container shipping is rapidly rising. This is estimated to drive the need for smooth transfer of cargo from ships to nearby storage areas using ship-to-shore cranes. Furthermore, government initiatives towards port capacity expansion across nations will also propel the ship-to-shore cranes market.

The supply chain disruptions caused due to covid pandemic and ongoing geopolitical issues pose challenges to the procurement of raw materials for ship-to-shore crane manufacturers. Raw material shortages can delay new projects and impact the delivery timelines of players. However, the long-term demand outlook remains positive due to volume growth in global seaborne trade.

Segment Analysis
The ship-to-shore cranes market is dominated by rubber-tired gantry or RTG sub segment which accounts for over 40% of revenue share. RTG cranes are ideal for container terminals as they provide flexibility of movement, quick turnaround of vessels, require less yard space and handle mixed stowage efficiently. They can transfer containers rapidly between the quay and the storage area. Growth in seaborne trade volumes and rising container traffic at ports are driving the demand for technologically advanced and efficient rubber-tired gantry cranes.

Global Analysis
The Asia Pacific region holds the largest share in the ship-to-shore cranes market and is expected to remain the dominating as well as fastest growing regional market during the forecast period. Rising imports and exports in countries such as China, India, Japan and South Korea are increasing the container traffic in ports which is driving demand for ship-to-shore cranes in this region. China accounted for over 45% of new ship orders globally in 2021 boosting the need for cargo handling equipment at ports. Meanwhile, Europe and North America are also witnessing healthy growth in maritime trade supported by growth in port infrastructure development projects. Countries like Germany, UK, US and Canada are steadily investing in port equipment upgrades to enhance cargo throughput capacities.

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