Rubber Tired Gantry Crane Market to Grow at a CAGR of 3.67% to reach USD 1168.17 Million from 2020 to 2027
The rubber tired gantry crane market was valued at USD 907.79 million in 2019 and is projected to reach USD 1168.17 million by 2027; it is expected to grow at a CAGR of 3.67% from 2020 to 2027.
In the past, developing countries were providers of raw materials; however, the layout of trade has given a new role to the developing countries across the globe, owing to which the rubber tired gantry crane market is predicted to witness a significant growth rate during the forecast period. The market growth is majorly attributed to the rise in the demand for seaborne trading, as developing countries, including China, are now emerging as important importers and exporters of goods by sea, with Asia being the biggest trading region.
Additionally, the rubber tired gantry crane market is driven by favorable government initiatives for the development of ports. A port becomes a wheel of the economy if it runs capably. Nowadays, the purpose of a port is not only limited but has extended to a logistical platform. The productivity of a port is important in international trade as a seaport is the nerve of foreign trade of a country. Several government policies are undertaken, which will, in turn, drive the global rubber tire gantry crane market during the forecast period.
Europe led the rubber tired gantry crane market in 2019 and is expected to continue its dominance during the forecast period. Europe's ports have adopted electric RTGs for reducing pollution and greenhouse gas emissions. Government regulations in this region have enabled the adoption of electrical container handling equipment, such as carbon emission verification in maritime transportation. Europe accounts for a large volume of trade in products and assets, such as machinery, vehicles, aircraft, fuels, nonferrous metals, textiles, chemicals, clothing, and crude oils. Europe ranks first in trading owing to which the region leads the global market for rubber tired gantry cranes.
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Rubber Tired Gantry Crane Market: Strategic Insights
Rubber Tired Gantry Crane Market
-
CAGR (2019 - 2027)
3.67%
-
Market Size 2019
US$ 907.79 Million
-
Market Size 2027
US$ 1168.17 Million
Market Dynamics
GROWTH DRIVERS
- Increasing demand for containerization in global trade
- Growth in seaport and terminal infrastructure development
- Advancements in automation and crane technology
- Rising emphasis on port efficiency and productivity
- Need for cost-effective and energy-efficient material handling solutions
- Government investments in smart port development
- Growth of e-commerce and intermodal logistics
- Expansion of logistics and supply chain operations
- Shift towards sustainable and eco-friendly cranes
- High demand for flexible and space-efficient port operations.
FUTURE TRENDS
- Integration of AI and machine learning for predictive maintenance
- Growth of fully automated and autonomous RTGs
- Increasing adoption of hybrid and electric-powered cranes
- Emergence of connected ports with IoT-enabled RTGs
- Shift towards smaller, more flexible cranes for space-constrained terminals
- Implementation of real-time data analytics for crane performance optimization
- Focus on enhancing energy efficiency and reducing emissions
- Integration with autonomous trucks and robotic systems in ports
- Development of next-gen RTG designs for improved load handling
- Expansion of RTG use in inland and regional terminals.
OPPORTUNITIES
- Adoption of electric and hybrid RTGs for sustainability
- Growth in emerging markets with expanding port infrastructure
- Technological advancements in crane automation and IoT integration
- Increasing demand for retrofitting and upgrading existing crane systems
- Development of smart ports with AI and data analytics
- Expansion of logistics and distribution centers in key regions
- Government initiatives for port modernization and smart city projects
- Potential for crane leasing and rental services
- Integration of RTGs with autonomous vehicles and drones
- Rising focus on green technology and carbon footprint reduction.
Key Players
- Anupam Industries Limited
- Electromech material handling systems India Pvt Ltd
- Kalmar
- Konecranes
- Liebherr
- Mi Jack Products
- Reva Industries Ltd
- Shanghai Zhenhua Heavy Industries CO Ltd
- TNT Crane Rigging
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- 8-Wheeler and 16-Wheeler
Power Supply
- Diesel
- Electric and Hybrid
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Rubber Tired Gantry Crane Market: Strategic Insights
-
CAGR (2019 - 2027)3.67% -
Market Size 2019
US$ 907.79 Million -
Market Size 2027
US$ 1168.17 Million
Market Dynamics
- Increasing demand for containerization in global trade
- Growth in seaport and terminal infrastructure development
- Advancements in automation and crane technology
- Rising emphasis on port efficiency and productivity
- Need for cost-effective and energy-efficient material handling solutions
- Government investments in smart port development
- Growth of e-commerce and intermodal logistics
- Expansion of logistics and supply chain operations
- Shift towards sustainable and eco-friendly cranes
- High demand for flexible and space-efficient port operations.
- Integration of AI and machine learning for predictive maintenance
- Growth of fully automated and autonomous RTGs
- Increasing adoption of hybrid and electric-powered cranes
- Emergence of connected ports with IoT-enabled RTGs
- Shift towards smaller, more flexible cranes for space-constrained terminals
- Implementation of real-time data analytics for crane performance optimization
- Focus on enhancing energy efficiency and reducing emissions
- Integration with autonomous trucks and robotic systems in ports
- Development of next-gen RTG designs for improved load handling
- Expansion of RTG use in inland and regional terminals.
- Adoption of electric and hybrid RTGs for sustainability
- Growth in emerging markets with expanding port infrastructure
- Technological advancements in crane automation and IoT integration
- Increasing demand for retrofitting and upgrading existing crane systems
- Development of smart ports with AI and data analytics
- Expansion of logistics and distribution centers in key regions
- Government initiatives for port modernization and smart city projects
- Potential for crane leasing and rental services
- Integration of RTGs with autonomous vehicles and drones
- Rising focus on green technology and carbon footprint reduction.
Key Players
- Anupam Industries Limited
- Electromech material handling systems India Pvt Ltd
- Kalmar
- Konecranes
- Liebherr
- Mi Jack Products
- Reva Industries Ltd
- Shanghai Zhenhua Heavy Industries CO Ltd
- TNT Crane Rigging
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- 8-Wheeler and 16-Wheeler
- Diesel
- Electric and Hybrid
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Impact of COVID-19 Pandemic on Rubber Tired Gantry Crane Market
The COVID-19 crisis is affecting the 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, automotive, and IT infrastructure. All these industries are crucial for the growth of the global rubber tired gantry crane market as they are the major demand generation industries for rubber tired gantry cranes. The factory shutdowns, travel bans, trade bans, and border lockdowns have impacted both manufacturing and sales of various consumer electronic products and components. The global electronics and semiconductor industry is one of the major industries that are facing serious disruptions due to supply chain issues and manufacturing shutdowns.
Market Insights
Rising Focus Toward Green Technology
Market participants focus on green technology due to strict government regulations pertaining to pollution and emission limits across various regions. Also, the use of RTGs equipped with electric drives can be optimized to consume less power. The use of the battery hybrid technology on the cranes will focus to substantially reduce fuel consumption and harmful fossil fuel emissions. Approximately 10% of the diesel fuel emissions from cargo handling equipment at ports are emitted by RTG cranes; the implementation of more efficient RTGs directly lessens the environmental impact of crane operations. This technology is an answer for busy port operators worldwide who need to increase efficiencies while reducing emissions and the environmental impact of their operations, as well as provide additional benefits of reduced operating costs with less greenhouse gas emissions and lower noise levels at the terminal. Flywheel energy storage technology for rubber Tire gantry cranes or RTG that can either be retrofit to existing RTG cranes or included as part of a new build. Flywheels offer fuel and emission reductions by capturing braking energy produced when a container is lowered.
Type-Based Market Insights
Based on type, the global market for rubber-tired gantry cranes can be divided into two segments: 8-wheeler and 16-wheeler. There are two types for each model the 8W and 8WA for the 8-wheeler, and the 16W and 16WA for the 16-wheeler. The main differences between the two models are the design of the anti-sway system and the number of gantry wheels. The 16-tired RTG cranes require a larger travel area. They cannot, therefore, be used in tiny spaces. 8-tired RTG cranes are preferred for smaller spaces.
Power Supply-Based Market Insights
Based on power supply, the global market for rubber tired gantry cranes can be classified into three categories: diesel, electric, and hybrid. Implementation of strict emission standards to minimize global emissions and the development of more efficient electrified vehicles, as well as higher fuel prices, are likely to boost the demand for electric and hybrid RTG cranes across the globe. Electrical RTG cranes offer better performance and can move substantial loads. Because of this, the preference for tired gantry cranes with electric and hybrid rubber is expected to increase shortly.
Product development is among the most commonly adopted strategies by companies to expand their product portfolio. Anupam industries limited, electromech material handling systems (India) Pvt. ltd, Konecranes, Liebherr, and Kalmar are among the key players implementing strategies to enlarge the customer base and gain significant share in the rubber tired gantry crane market, which, in turn, permits them to maintain their brand name in the global market.
Rubber Tired Gantry Crane Market Report Scope
Report Attribute
Details
Market size in 2019
US$ 907.79 Million
Market Size by 2027
US$ 1168.17 Million
Global CAGR (2019 - 2027)
3.67%
Historical Data
2017-2018
Forecast period
2020-2027
Segments Covered
By Type - 8-Wheeler and 16-Wheeler
By Power Supply - Diesel
- Electric and Hybrid
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
- Anupam Industries Limited
- Electromech material handling systems India Pvt Ltd
- Kalmar
- Konecranes
- Liebherr
- Mi Jack Products
- Reva Industries Ltd
- Shanghai Zhenhua Heavy Industries CO Ltd
- TNT Crane Rigging
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
---|---|
Market size in 2019 | US$ 907.79 Million |
Market Size by 2027 | US$ 1168.17 Million |
Global CAGR (2019 - 2027) | 3.67% |
Historical Data | 2017-2018 |
Forecast period | 2020-2027 |
Segments Covered |
By Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Rubber Tired Gantry Crane Market Segmentation:
By Type
- 8-Wheeler
- 16-Wheeler
By Power Supply
- Diesel
- Electric
- Hybrid
Company Profiles
- Anupam Industries Limited
- ELECTROMECH MATERIAL HANDLING SYSTEMS (INDIA) PVT. LTD
- Kalmar
- Konecranes
- Liebherr
- Mi-Jack Products.
- REVA INDUSTRIES LTD
- Shanghai Zhenhua Heavy Industries CO., Ltd. (ZPMC)
- TNT Crane & Rigging
- Sany Group
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , Power Supply
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Being mobile, RTGs are often powered by a 100 to 600 kW diesel generator (genset) system. Because of the lack of an electrical grid to dump energy when containers are lowered, they often have large resistor packs to dissipate the energy of a container that is lowering or decelerating quickly. Diesel-powered RTGs are notorious ports polluters, as they burn up to 10 gallons of diesel fuel per hour each. Due to their use of more fuel, volatility in fuel costs, and generation of gas emissions such as carbon dioxide and nitrogen oxides, Diesel rubber tired gantry cranes are usually environmentally and economically inefficient. Converting from diesel to electrified RTG cranes is one way to reduce carbon gas emissions and operating costs. The conversion of rubber tired gantry cranes from diesel to electric power, or switchable diesel / electric power, is an emerging trend in container ports around the world and one that has led Conductix-Wampfler to extensive field tests. While the RTG operates in a row of containers, it can only run on electric power, and the diesel engine can be switched off.
The Europe region led the rubber tired gantry cranes market in 2019. The major contributors to the rubber tired gantry cranes market in Europe are Germany, France, the UK, Russia, and Italy, among others. Europe's ports have adopted electric RTGs for reducing pollution and greenhouse gas emissions. Government regulations in this region have enabled the adoption of electrical container handling equipment, such as carbon emission verification in maritime transportation. Also, financial transparency regarding port investments has enabled port authorities to invest strategically in port infrastructure. European nations rank among the leading importers and exporters of commodities and goods. Europe accounts for a large volume of trade in products and assets, such as machinery, vehicles, aircraft, fuels, nonferrous metals, textiles, chemicals, clothing, and crude oils. Europe ranks first in trading, owing to which the region leads the global market for rubber tired gantry cranes.
The layout of trade has given a new role in developing countries across the globe. While in the past, developing countries were providers of raw materials. Nowadays, developing countries, including China, are emerging as important importers and exporters of goods by sea. This has led to an increase in the demand for seaborne trading. Rise in the growth of seaborne trade has been rising over the years. Asia region was, till now by far the biggest trading region. In 2018, 4.5 Bn tons of goods were loaded, and 6.7 Bn tons unloaded in Asian seaports. The other continents were noted less than half of these amounts. Over the years, developing economies still accounted for the largest share of global seaborne trade, both in terms of exports (goods loaded) and imports (goods unloaded). However, an important rise in the seaborne trading is assisting the rubber Tire gantry crane market across the globe. Moreover, an increase in in-country transportation of commodities and goods via trains is rising the global rubber Tire gantry crane market.
The List of Companies - Rubber Tired Gantry Cranes Market
- Anupam Industries Limited
- Electromech material handling systems (India) Pvt. Ltd
- Kalmar
- Konecranes
- Liebherr
- Mi-Jack Products
- Reva Industries Ltd
- Shanghai Zhenhua Heavy Industries CO., Ltd
- TNT Crane & Rigging
- Sany Group