Ship-To-Shore Cranes Market Is Expected To Reach USD 3.29 Billion By 2025Posted by Neha Bora on February 10th, 2020 San Francisco, 10 February 2020: The Report 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 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. 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. Access Research Report of Ship-To-Shore Cranes Market @ https://www.grandviewresearch.com/industry-analysis/ship-to-shore-cranes-market Further key findings from the study suggest:
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)
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