Rising Demand for Container Handling Equipment in Global market
The ship-to-shore cranes segment is projected to hold the largest market share from 2017 to 2025. These cranes are used for loading and unloading containers from ships. According to a UNCTAD report published in 2016, the average container ship size increased by 132% over the past 7 years. Container loading and unloading from larger ships are fully dependent on the availability of these cranes. As per the Port Equipment Manufacturers’ Association (PEMA), the demand for these crane types mainly comes from medium and larger ports in countries such as China, Japan, Singapore, Australia, India, and Vietnam in Asia Pacific due to increased container traffic. All these factors are expected to boost the demand for ship-to-shore cranes.
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