MARKET REPORT | STS CRANES


TFROM SHIP


researchers expecting this growth to continue throughout the 2020s and into the next decade. According to market analysts Acumen


S


Research and Consulting, the global STS cranes market was worth $3.5bn in 2023. Acumen forecasts that it will grow by a compound annual rate (CAGR) or


hip-to-shore (STS) cranes continues to be one of the fastest-growing segments of port equipment, with


5.7% through to 2032, when it will be worth $5.6bn. Acumen’s research found that, based on


product, the high-profile cranes segment occupied 60% market share in 2023. However, based on lifting capacity, the post- panamax STS cranes segment contributed 46% market share in the same period. As outlined in the report, a surge in


global port infrastructure development remains a key driver. “For instance, the US Department of Transportation (USDOT)


$3.5bn in 2023.


O SHORE


The STS crane market is expected to grow substantially throughout the 2020s. Yet it also remains a sector facing challenges and opportunities alike. DLM talks to some of the main players in this dynamic marketplace.


is providing $450bn in grants to enhance ports,” it states. “This funding is part of a programme aimed at upgrading and expanding port facilities to make shipping and trade operations more effective. “As international trade and container


traffic increase, ports are expanding and modernising to handle larger volumes and bigger vessels. This expansion necessitates


The global STS cranes market was worth


xxiv | April 2025 | Dockside Lift & Move Supplement


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