Rising cargo transportation worldwide is expected to drive growth of the global ship-to-shore cranes market during the forecast period
Cargo transportation plays a vital role in global trade since it is a cheaper and more efficient way to transport goods. According to Eurostat, in 2018, the total weight of goods transported in the EU as part of the short sea shipped was pegged at over 1.7 billion tons, increasing from 1.65 billion tons in 2015. According to the same source, in 2018, Italy was the major short sea shipping country with over 15% of the total tonnage in EU short sea shipping. Ship-to-shore cranes are designed high performance with low self-weight and center of gravity. These cranes improve the productivity of a port significantly and offer high reliability and low downtime. These cranes built with anti-sway reeving features and thus can function in adverse environments. Therefore, these factors are expected to drive growth of the global ship-to-shore cranes market during the forecast period.
Get HOLISTIC Request Sample Copy:
https://www.coherentmarketinsights.com/insight/request-sample/4369
2. Growing use of large-sized vessels is expected to propel the global ship-to-shore cranes market growth over the forecast period
Many shipping companies are employing large-sized vessels to carry as much cargo as possible. For instance, HMM Algeciras is the largest container ship in the service built by Daewoo Shipbuilding & Marine and
Samsung Heavy Industries. HMM, Algeciras has a capacity of 23,964 twenty-foot equivalent units (TEU). These vessels can carry as many as 15,000 containers and thus require efficient unloading. Ship-to-shore cranes can provide high-performance with precision and high reliability. Thus, these factors are expected to propel the global ship-to-shore cranes market growth over the forecast period.
1. High capital costs are expected to restrain growth of the global ship-to-shore cranes market during the forecast period
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. Thus, these factors are expected to restrain growth of the global ship-to-shore cranes market during the forecast period.
2. Lack of availability of skilled personnel is expected to hinder the global ship-to-shore cranes market growth over the forecast period
Operating a ship-to-shore crane is a complex process and requires skilled personnel with adequate training. Such skilled workers are not widely available, especially in emerging regions such as Asia Pacific, Middle East, Latin America, and Africa. Therefore, these factors are expected to hinder the global ship-to-shore cranes market growth over the forecast period.