Rubber Tired Gantry Crane Market is expected to reach USD 1168.17 Mn by 2027

Increasing demand for 8-wheeler to lead rubber tired gantry crane market growth at 3.67% CAGR during 2020–2027

According to our latest market study on “Rubber Tired Gantry Crane Market to 2027 – COVID-19 Impact and Global Analysis and Forecast by Type (8-Wheeler and 16-Wheeler), Power Supply (Diesel, Electric, and Hybrid), and Geography,” the market was valued at USD 907.79 million in 2019 and is projected to reach USD 1,168.17 million by 2027; it is expected to grow at a CAGR of 3.67% from 2020 to 2027.

The report highlights the key factors driving the market growth, and prominent players and their developments in the market.

A rubber tire gantry (RTG) crane is a type of mobile machinery used for moving and stacking storage containers found in container ports. With its flexibility and smooth movement, it is commonly used in stockyards and other places where box-shaped storage containers are used, and the crane can lift and move the containers from one place to another quickly and safely. Several port stations and government initiatives for developing the infrastructure of port in economies such as India, China, the US, the UK, Germany, Australia, France, Singapore, and more are likely to boost the rubber tire gantry crane market. The seaborne trading in North America, Europe, and APAC plays a major role in positively impacting the growth of rubber tire gantry crane market. Nearly 90% of the EU's external freight trade is seaborne trading. Short sea shipping represents one-third of intra-EU exchanges in terms of ton-kilometers. Assurance of an excellent quality of life on Europe's islands and in peripheral maritime regions depends on good maritime transport services. Additionally, a strong hand on seaborne trading in Europe is likely to boost the rubber tire gantry crane market in the region.

Anupam Industries Limited, Electromech Material Handling Systems (India) Pvt. Ltd, Kalmar, Konecranes, Liebherr, Mi-Jack Products, Reva Industries Ltd, Sany Group, TNT Crane & Rigging, and Shanghai Zhenhua Heavy Industries Co., Ltd. (ZPMC) are among the leading players operating in the rubber tired gantry crane market. Several other players are also functioning and are contributing significant revenues in the rubber tired gantry crane market.

COVID-19 Impact on Rubber Tired Gantry Crane Market

According to World Health Organization (WHO) report, the US, Spain, Italy, France, Germany, the UK, Turkey, Iran, China, and Russia are among the worst affected countries due to COVID-19 outbreak. The COVID-19 crisis is affecting several industries worldwide and the global economy is anticipated to take a worst hit in 2020 as well as in 2021. The outbreak has created significant disruptions in primary industries such as consumer electronics, semiconductor, manufacturing and construction, automotive, and IT infrastructure. All these industries are crucial for the growth of global rubber tired gantry crane market as they are the major demand generation industries. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted both manufacturing and sales of various products and components. The global manufacturing industry is one of the major industries that is suffering serious disruptions due to supply chain issues and manufacturing shutdowns.

Regional Growth of Rubber Tired Gantry Crane: 2020–2027

The report segments the global rubber tired gantry crane market as follows:

By Type

• 8-Wheeler
• 16-Wheeler

By Power Supply

• Diesel
• Electric
• Hybrid

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of APAC
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM