The global mobile harbour cranes market was worth US$ 1,493.23 Million in 2019 and is forecasted to reach US$ 8,730.10 Million by 2027, growing at a CAGR of 25.1% during the forecast period (2020-2027)
The multi-functionality of mobile harbour cranes makes them effective for all areas of application in the harbor. Lifting attachments can be exchanged within a matter of minutes. Mobile harbour cranes has wide range of applications for handling bulky loads, general cargo at seaports as well as in construction, steel and cement industry for lifting heavy materials. Mobile harbour crane can be operated with hydraulics systems and can control the cabin. It has wide applications to handle both the weight and high height loads at the port’s cruise terminals. It has extremely versatile applications from space, industry, at port for heavy load handlings, in construction industry which makes it an universal. At seaport, a mobile harbour crane is used for handling all types of cargo from containers to bulk commodities, general cargo and even heavy lifts.
Market Dynamics
Drivers
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Rising demand for import and export across the world with surge in the digitalization and increasing awareness among the people about the merchandise trade
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Increasing demand for carrying bulk loads with surge in the launching of the high load carrying capacity harbour cranes by the leading players with surge in port authority investments
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Increasing demand by the infrastructure development projects in the building and construction industry as well as rising demand by the power utility plants and fertilizer plants
Restraints
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Availability of the alternative methods such as port automation, rail mounted gantry cranes and floating crane hampers the growth of this market
Market Segmentation
Gantry crane type for the mobile harbour crane market is valued at US$ 950.51 Million in 2018 and is estimated to grow at a CAGR of 25.9% over the forecast period to reach a US$ 5,837.22 Million by 2027.
Gantry crane consists of two legs with rubber tires which typically run in a straight line in a work area. This system allows it to move independently on heavy-duty full gantry cranes which are equipped with a secondary hook. A crane built has a structure used to straddle an object, heavy loads, specially for loading and unloading off containers from boats in docks and harbours. Full size gantry cranes are used for the construction of boats, cruise ships and oil rigs and have capacity to move thousands of tons of load.
A gantry crane plays a crucial role in material handling equipment in import export ports for loading, unloading small or large items indoors or outdoors. These are equipped with full remote control and manual operation choices. It has several characteristics such as it facilitates smooth starting and ending, stable performance, less maintenance, high efficiency, low noise, no harm to the environment in the production process. Increasing demand for the gantry crane by the global port authorities due to surge in international import and export trades have boosted the gantry crane market. For instance on 5th April 2018, Cargotec OYJ has received order of supplying 14 rubber-tyred gantry cranes from India Ports Global Pvt Ltd for around US$ 18 million for use at the Chabahar port in Iran due to surge in the traffic at ports.
Further increasing port traffics due to surge in the international trades all over the world have propelled orders for the gantry cranes for the manufacturers all over the world. For instance on 31st July 2020, Montecon S.A. has placed order of two electric rubber tyre gantry cranes for Uruguay from Liebherr Container Cranes Ltd.
Geographical Analysis
The Europe segment in global mobile harbour crane market valued US$ 709.43 million in 2019 and it is estimated to grow at a CAGR of 25.7% in the forecast period to reach a market value of US$ 4,310.90 million by 2027.
The commercial applications of mobile harbour crane includes handling of containers, cargo ships, general cargo, bulk commodities at ports. Europe has the highest market share for the mobile harbour crane owing to several factors including rising import export activities related to agricultural goods, presence of leading manufacturing industries related to food industries. For instance as per United nations conference on trade and development in 2018, the agricultural goods export and import valued to around US$ 529 billion whereas manufacturing goods export to China was valued to around US$ 224 billion in 2017 from the European Union. It created massive demand for the mobile harbour cranes at the European ports for handling loads.
Further Europe is the largest exporter of the chemicals around the world. As per the European Chemical Industry Council (CEFIC), chemical industry was valued to around US$ 657.74 billion. It created massive demand for the mobile harbour crane market for exporting this chemicals. Also, increasing international trade from Europe have propelled the demand for the mobile harbour crane market. For instance as per the UNCTAD organization, with total volumes of containers shipment from Asia to Europe route reached to around 8.1 million TEU in 2019. It have propelled the demand for the mobile harbour cranes used for the container handling at ports.
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