Ship-to-Shore (STS) Container Cranes Market 2022

Industry Size, Emerging Trends, Regions, Growth Insights, Opportunities, and Forecast By 2033

Ship-to-Shore (STS) Container Cranes Market by Type (<40, 40-49, 50-60, and 60+), by Application (Seaport, and Estuary Port) and by Region (North America, South America, Europe, Asia Pacific, and Middle East & Africa (MEA)) – Global Share and Forecast to 2033

Region: Global | Format: Word, PPT, Excel | Report Status: Published

According to the Market Statsville Group (MSG), the global ship-to-shore (STS) container cranes market size is expected to grow from USD 1,056.1 million in 2022 to USD 2,437.4 million by 2033, at a CAGR of 7.9% from 2023 to 2033.

The installation of ship-to-shore (STS) cranes has increased with the growth in the number of ports, primarily due to their ability to facilitate fast container movement. This trend has been particularly pronounced since the expansion of the Panama Canal, as there has been a significant increase in the use of large-sized vessels like Panamax and Post-Panamax ships, which require STS cranes with extended outreach. The progress of the marine sector, particularly in the realm of trade through ships of various kinds, has been a crucial factor driving the container crane market. The use of large-sized vessels by major transport lines has led to the expansion of deep inland waterways to accommodate these ships, forcing ports to invest in high-capacity equipment for loading and unloading containers. In the Asia-Pacific region, port authorities have embarked on several large-scale port infrastructure projects, and electric STS cranes are expected to contribute significantly to market growth, particularly in developed regions such as Europe and North America, where strict regulations on port emissions favor the adoption of electric STS cranes. The use of electric cranes can help port authorities reduce costs by eliminating the need for traditional diesel engines and reducing maintenance costs.

Definition of the Global Ship-to-Shore (STS) Container Cranes Market

Ship-to-shore container cranes are specially designed with a range of outreaches and specification detail as per each customer’s requirement. Ship-to-shore cranes enhance the reliability and efficiency of the terminal requirements to maintain productivity. Different types of ship-to-shore cranes are available that are driven by different power supplies, including electric, diesel, and hybrid. The changing vessel size and growing container traffic at the ports have pressured port operations to increase efficiency. The market is estimated to grow as these ports invest in ship-to-shore cranes to tackle throughput peaks. Greenfield projects and upgradation of existing ports fuel the demand. The high initial investment, uncertain economic conditions, and the need for regular maintenance are expected to challenge the market growth.

COVID-19 Impact on the Global Ship-to-Shore (STS) Container Cranes Market

The pandemic caused disruptions in global trade and supply chains, leading to a decrease in cargo volumes and a slowdown in port activities. This, in turn, resulted in a decrease in demand for new STS container cranes and delays in the delivery of existing orders. Additionally, the pandemic led to restrictions on travel and movement, which impacted manufacturers' ability to conduct site inspections and commission new STS container cranes. This also led to delays in the installation and commissioning of new equipment. However, the pandemic led to an increased focus on automation and remote operation technologies in the container handling industry. This has created an opportunity for manufacturers of STS container cranes, as these cranes can be equipped with automation and remote operation capabilities to improve safety and efficiency in port operations.

Global Ship-to-Shore (STS) Container Cranes Market Dynamics

Drivers: Growing Container Traffic

Factors such as growing GDPs, changing demographics, and increasing globalization are responsible for the rising container traffic. In addition, the increase in global trading activities in many parts of the world supports the growing port traffic. While the developing countries containerized level is considered to have reached its peak, the population's rapidly growing purchasing power is supporting the economic growth in developing countries, thus facilitating growth in global trading activities. This, in turn, implies the growth of container traffic. However, the European and North American regions are observed to experience a recovery in consumer demand.

Restraints: High Capital Costs

Ship-to-shore cranes are significantly expensive as compared to conventional container cranes. Besides, the lack of availability of components and equipment required to set up container cranes in underdeveloped regions is highly expensive. The global economy is growing at a pace that is not too optimistic for the port and shipping industry. A crucial factor is the high initial investment in the port development infrastructure. Further, an individual crane can cost anything above USD 6 million, which is a hefty price if the port authorities invest in multiple ship-to-shore cranes. These cranes also have high maintenance and operating costs for their entire lifetime, including energy costs, personnel training, machine wear and tear, and other associated costs. In addition, if the crane has to be upgraded or converted from diesel to electric power supply, the attributed costs may rise even further. These lifetime operating costs must be considered as they play a vital role in the return on investment on the STS cranes.

The investment in a ship-to-shore crane may also need an upgradation of the quayside and increasing the depth of the bays. These costs will only add to the crane prices, which are themselves very volatile owing to numerous factors, including technical specifications, major component costs (drives, spreaders), size of an order, and port project specifications. Furthermore, even after a crane is installed and ready for use, the period between its installation and when a ship calls at the port may be unpredictable, further attracting additional costs. Thus, these factors are expected to restrain the global ship-to-shore cranes market growth during the forecast period.

Opportunities: Technological Development and Innovation  

Technological development includes automation and external control of STS cranes via joystick or remote computers. Additionally, these features enable the regulator to oversee the crane operation without being impeded by the visual distortions caused by rain, wind, or fog. In June 2020, the Pacific Northwest National Laboratory (PNNL), National Renewable Energy Laboratory (NREL), and Sandia National Laboratories (SNL) jointly developed an open-source software called the Marine and Hydrokinetic Toolkit (MHKiT). This technological advancement not only enhances driver safety and operational efficiency, but also enables the automation of power intake, thereby reducing the noise and emissions produced by the cranes. Thus, technological development and innovation will help grow the ship-to-shore cranes market.

Scope of the Global Ship-to-Shore (STS) Container Cranes Market

The study categorizes the ship-to-shore (STS) container cranes market based on type and application area at the regional and global levels.

By Type Outlook (Sales, USD Million, 2019-2033)

  • <40
  • 40-49
  • 50-60
  • 60+

By Application Outlook (Sales, USD Million, 2019-2033)

  • Seaport
  • Estuary Port

By Region Outlook (Sales, USD Million, 2019-2033)

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Italy
    • France
    • UK
    • Spain
    • Poland
    • Russia
    • The Netherlands
    • Norway
    • Czech Republic
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Malaysia
    • Thailand
    • Singapore
    • Australia & New Zealand
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Northern Africa
    • Rest of MEA

Seaport segment accounts for the largest market share by type

Based on the type, the market is divided into seaport, and estuary port. The seaport segment accounted for the global ship-to-shore (STS) container cranes market's largest market share of around 75.3% in 2022. The seaport segment is typically the largest user of ship-to-shore (STS) container cranes, which are used to load and unload containers from cargo ships. Seaports are key nodes in global trade, and the efficient handling of containerized cargo is critical for the smooth operation of global supply chains. As a result, seaports invest heavily in STS container cranes to improve their cargo handling capabilities. Therefore, it is likely that the seaport segment accounts for the largest market share in the global STS container cranes market.

Asia Pacific accounted for the largest market share by Region

Based on the regions, the global ship-to-shore (STS) container cranes market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. Asia Pacific accounted for the largest market share of around 43.2% in 2022. The Asia Pacific region is home to some of the most occupied or busiest ports in the world, with many located in countries such as China, Singapore, South Korea, and Japan. These ports are key gateways for global trade, and their efficient operation is critical for the smooth functioning of the global supply chain. As a result, seaports in the region are increasingly investing in STS container cranes to improve their cargo handling capabilities and reduce turnaround times. Moreover, the increasing demand for containerized cargo, driven by factors such as the growing population, expanding e-commerce, and rising international trade, has led to a surge in demand for STS container cranes in the region. With the Asia Pacific region expected to continue to be a significant player in the global trade market, the demand for STS container cranes is expected to remain strong in the years to come.

Competitive Landscape: Global Ship-to-Shore (STS) Container Cranes Market

The ship-to-shore (STS) container cranes market is a significant competitor, and extremely cutthroat in the sector is using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global ship-to-shore (STS) container cranes market are:

Recent Development  

  • In December 2021, Hess GmbH, a company based in Düsseldorf, added a Liebherr LTM 1150-5.3 mobile crane to its crane fleet, increasing its capacity. Hess Corporation, an independent energy company from the United States engaged in the exploration and production of crude oil and natural gas, owns the company. The LTM 1150-5.3 mobile crane boasts a long telescopic boom and a maximum weightlifting capacity of 150 tonnes. It can carry nine tonnes of ballast on public roads, with an axle load of twelve tonnes. Hess intends to use the new 150-tonne crane for heavy installation work, as well as regular crane rental jobs in the construction and infrastructure industries. Liebherr supplied all of the mobile cranes in the Hess fleet.
  • In October 2021, ZPMC and APM Terminals entered into a strategic alliance. APM Terminals is a port operating company headquartered in The Hague, Netherlands. The alliance is intended to change equipment purchasing from a transactional process to a more strategic collaboration with a strong focus on automation.
  • In May 2019, Konecranes Oyj unveiled a new lift robot for its industry-leading Agilon automated materials management system that significantly enhanced customers’ warehouse efficiency and opened new opportunities for the company at larger storage premises. The Agilon robot is equipped with the company’s latest software and can move diagonally, horizontally, and vertically, offering greater versatility than previous models. This means accelerated transfers of items at customer sites, a more extended reach in terms of warehouse size, and greater efficiency and insight for customers.

Frequently Asked Questions

  • Key Issues Addressed
  • What is the market size and growth rate for different segmentations at a global, regional, & country level?
  • What is the customer buying behavior, key takeaways, and Porter's 5 forces of the market?
  • What are the key opportunities and trends for manufacturers involved in the supply chain?
  • What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
  • What and how regulations, schemes, patents, and policies are impacting the growth of the market?
  • How will existing companies adapt to the new change in technology?
  • The market player positioning, top winning strategies by years, company product developments, and launches will be?
  • How has COVID-19 impacted the demand and sales of in the market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
  • Who are the leading companies operating in the market? Also, who are the prominent startups that disrupt the market in coming years?
  • PUBLISHED ON: MARCH, 2024
  • BASE YEAR: 2023
  • FORECAST PERIOD: 2024-2033
  • STUDY PERIOD: 2019 - 2033
  • COMPANIES COVERED: 15
  • COUNTRIES COVERED: 24
  • NO OF PAGES: 245

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