How Has the Rubber Tired Gantry Crane Market Size Evolved in Recent Years?
The rubber tired gantry crane market has seen considerable growth due to a variety of factors.
• The market size of the rubber tired gantry crane has seen a consistent increase in recent times. The growth is expected to continue, with the market forecasted to expand from $1.25 billion in 2024 to $1.3 billion in 2025, achieving a compound annual growth rate (CAGR) of 4.1%.
The expansion during the historic period can be linked to factors including the rise in containerized cargo, the growth of container terminals, the modernization and expansion of ports, and automation within port environments.
What are the Market Size and Expected Growth Rates for the Rubber Tired Gantry Crane Market?
The rubber tired gantry crane market is expected to maintain its strong growth trajectory in upcoming years.
• It is projected that the market for rubber tired gantry cranes will witness substantial growth in the coming years, reaching $1.62 billion by 2029 with a compound annual growth rate (CAGR) of 5.8%.
Factors contributing to this upswing during the forecast period include energy efficiency and environmental considerations, the boom in e-commerce, investment in port infrastructure, a surge in global trade, advancements in remote operations and connectivity, and the adoption of hybrid and alternate power sources. During this period, significant trends such as intelligent ports and digitalization, telematics and remote surveillance, augmented reality (AR) and virtual reality (VR) experimentation, remote analysis and testing, adaptability with electric and autonomous machinery, and the use of AI in testing are expected to influence the growth.
Which Key Drivers Are Propelling The Rubber Tired Gantry Crane Market's Growth?
The expected growth in the rubber-tired gantry crane market is forecasted to be driven by an upsurge in seaborne trade. Rubber-tired gantry cranes, which are mobile cranes frequently utilized in seaports for loading, unloading, and arranging containers, facilitate easier management of cargo in maritime commerce. Consequently, the rising tide of seaborne trade amplifies the usage of these cranes at seaports to ease the burden of handling heavy shipping containers. For example, the International Maritime Trade report posits that by 2022, the volume of global seaborne trade is anticipated to hit 12,027 million tons. Thus, the growth of the rubber-tired gantry crane market is fuelled by the burgeoning seaborne trade.
What Are The Key Segments Within The Global Rubber Tired Gantry Crane Market?
The rubber tired gantry crane market covered in this report is segmented –
1) By Type: 8-Wheeler, 16-Wheeler
2) By Power Supply: Diesel, Electric, Hybrid, Other Power Supplies
3) By Application: Construction, Oil And Gas, Shipbuilding, Power and Utilities, Other Applications
Subsegments:
1) By 8-Wheeler: Standard 8-Wheeler RTG, Heavy-Duty 8-Wheeler RTG
2) By 16-Wheeler RTG: Standard 16-Wheeler RTG, Heavy-Duty 16-Wheeler RTG
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How Are New Trends Impacting The Size Of The Rubber Tired Gantry Crane Market?
Leading businesses within the rubber-tired gantry crane industry are introducing progressive products such as hydrogen fuel cell rubber-tire gantry cranes, geared towards enhancing energy conservation within container handling procedures. A hydrogen fuel cell rubber-tire gantry crane (RTG) is a versatile crane that utilizes hydrogen fuel cell technology, thus enabling an environmentally-friendly and effective approach to material handling in sectors such as logistics and shipping. To illustrate, in May 2024, US-based container handling machinery producer, Paceco, partnered with Mitsui E&S, a heavy industries firm from Japan, to introduce the H2-ZE RTG transtainer crane. This is a zero-emission rubber-tired crane that not only eliminates carbon emissions but also reduces noise pollution. Unhindered by the electrical grid, it can function up to 16 hours a day, mirroring the efficiency of its traditional diesel or hybrid RTG counterparts. The crane's structurally innovative fuel-cell power pack (FCPP) facilitates retrofitting current diesel RTGs to achieve zero emissions, signifying a notable progression in green port technology.
Who Are the Key Players in the Rubber Tired Gantry Crane Market?
Major companies operating in the rubber tired gantry crane market include:
• Anupam Industries Limited
• KONE Corporation
• Liebherr-International AG
• Konecranes and Demag Private Limited
• Reva Industries India Pvt. Ltd.
• Sany Heavy Industry India Private Limited
• TNT Crane & Rigging Inc.
• Shanghai Zhenhua Heavy Industries Company Limited
• ElectroMech Material Handling Systems (India) Pvt Ltd
• Bedeschi SpA
• Ascom SpA
• Paul Vahle GmbH & Co. KG
• Kalmar automation and integration solutions
• Terex Corporation
• Cargotec Corporation
• Doosan Enerbility Co. Ltd
• TCM Corporation Public Company Limited
• ELME Spreader AB
• RAM Spreaders
• Paceco Corp.
• Shanghai Port Machinery Co. Ltd.
• Xuzhou Construction Machinery Group Co. Ltd.
• Bromma Conquip AB
• HD Hyundai Heavy Industries Co. Ltd.
• Mi-Jack Products Inc.
• Dalian Huarui Heavy Industry Group Co. Ltd.
• Linde Material Handling
• Noell Crane Systems GmbH
• Hyster-Yale Materials Handling Inc.
What are the Regional Insights into the Rubber Tired Gantry Crane Market?
Asia-Pacific was the largest region in the rubber-tired gantry crane market in 2024.Middle East is expected to be the fastest-growing region in the forecast period. The regions covered in the rubber tired gantry crane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
