IMARC Group, a leading market research company, has recently releases report titled “Rubber Tired Gantry Crane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global rubber tired gantry crane market share, growth, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Rubber Tired Gantry Crane
A rubber tired gantry (RTG) crane is a specialized industrial equipment that is designed for the efficient movement and handling of heavy cargo containers within container terminals and shipping yards. It is mounted on rubber tires that provide enhanced mobility and versatility as compared to traditional gantry cranes that are fixed in one position. It plays a vital role in the loading, unloading, and stacking of cargo containers onto trucks and ships. It can travel along designated paths, lift, and transport containers with precision, and stack them organized, which makes it valuable equipment for the smooth operation of container handling facilities. It assists in improving safety by reducing the need for manual labor in container handling and addressing labor shortages and safety concerns.
How Big Is the Rubber Tired Gantry Crane Market?
The global rubber tired gantry crane market size reached US$ 1.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028.
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What are the growth prospects and trends in the rubber tired gantry crane industry?
At present, the rising adoption of RTG cranes, as they ensure the timely and seamless movement of containers, reduce port congestion, and improve supply chain efficiency, represents one of the major factors supporting the growth of the market. In addition, the growing demand for advanced RTG cranes that are equipped with advanced control systems and sensors to enhance productivity is offering a positive market outlook.
In line with this, the increasing popularity of automation in logistics and shipping operations is propelling the market growth. Apart from this, the rising demand for efficient container handling solutions is offering lucrative growth opportunities to industry investors. Moreover, the growing adoption of RTG cranes due to the rising need to modernize existing container terminals to meet current operational standards is positively influencing the market. Besides this, the introduction of larger container vessels that require RTG cranes with higher lifting capacities and taller stack heights is contributing to the market growth.
Furthermore, the rising number of infrastructure development projects worldwide is strengthening the market growth. In line with this, the increasing adoption of RTG cranes to lower long-term expenses in a business is bolstering the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- 8-Wheeler
- 16-Wheeler
Breakup by Power Supply:
- Diesel
- Electric
- Hybrid
Breakup by Application:
- Construction
- Oil and Gas
- Shipbuilding
- Power and Utilities
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Anupam Industries Limited, ASCOM SPA, Bedeschi S.p.A., Cargotec Oyj, Konecranes Oyj, Liebherr-International AG, Mi-Jack Products (Lanco International Inc.), Paul Vahle GmbH & Co. KG, Reva Industries India Pvt. Ltd., Sany Heavy Industry Co. Ltd, Shanghai Zhenhua Heavy Industries Company Limited and TNT Crane & Rigging.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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