The global port crane market is poised for significant growth, according to a new report from Transparency Market Research. The market, valued at US$1.5 billion in 2023, is projected to reach US$2.7 billion by 2034, representing a compound annual growth rate (CAGR) of 5.8% from 2024 to 2034. This expansion is fueled by rising global trade, port infrastructure modernization, and the increasing adoption of automated cargo handling solutions.
"Rising investments in port modernization and the expansion of international shipping routes further support market expansion," the report states.
Key players in the market include Liebherr Group, Konecranes, ZPMC (Shanghai Zhenhua Heavy Industries Co., Ltd.), Cargotec Corporation (Kalmar), Terex Corporation, Sany Group, Hyundai Samho Heavy Industries, Mitsubishi Heavy Industries, Doosan Heavy Industries & Construction Co., Ltd., and Italgru S.r.l.
The market is segmented by crane type (STS, RTG, RMG, mobile harbor, bulk handling), power source (electric, diesel, hybrid), end-user (container terminals, bulk cargo ports, multipurpose ports), and region.