(MENAFN- GlobeNewsWire - Nasdaq)
New York, Nov. 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Rubber Tired Gantry Crane Global Market Report 2022: Ukraine-Russia War Impact' -
Ltd, SANY Heavy Industry India Pvt.
Ltd., TNT Crane & Rigging Inc., Shanghai Zhenhua Heavy Industries Co. Ltd, ElectroMech Material Handling Systems (India) Pvt. Ltd, Bedeschi S.p.A, ASCOM S.p.A, and Paul Vahle GmbH & Co. KG.
The global rubber-tired gantry crane market is expected to grow from $1.08 billion in 2021 to $1.17 billion in 2022 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The rubber-tired gantry crane market is expected to grow to $1.39 billion in 2026 at a CAGR of 4.5%.
The rubber-tired gantry crane market consists of sales of rubber-tired gantry cranes by entities (organizations, sole traders, and partnerships) that are used for loading and unloading big containers at sea ports.A rubber-tired gantry crane is a wheeled mobile gantry crane that is operated from the ground and is capable of lifting heavy containers for loading, unloading, and stacking at container yards and seaports.
Additionally, mobility gives a rubber-tired gantry crane wide applications such as railway yards, shipyards, overhead bridge systems, and others.
The main types of rubber-tired gantry cranes are 8-wheelers and 16-wheelers.The 8-wheeler is a smaller moving rubber-tired gantry crane used for loading and unloading containers at sea ports.
The 8-wheeler rubber-tired gantry crane consists of 8 wheels in a configuration of 2 wheels in four corners, four in the rear, and two in front, and is capable of lifting the weight of 24.5–34.8 tons. The different power supplies include diesel, electric, hybrid, and others that are used in construction, oil and gas, shipbuilding, power and utilities, and other applications.
Asia Pacific was the largest region in the rubber-tired gantry crane market in 2021. 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 and Africa
An increase in seaborne trade is expected to propel the growth of the rubber-tired gantry crane market going forward.A rubber-tired gantry crane is a moving gantry crane commonly used in seaports for loading, unloading, and stacking containers that allow easy handling of cargo in the seaborne trade.
So, an increase in seaborne trade has increased the use of rubber-tired gantry cranes in seaports for easy handling of heavy containers used in shipping via water. For instance, according to the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental organization intended to promote the interests of developing states in world trade, around 4.4 billion tons of cargo were loaded into Asian ports in 2020. This represents more than 41.3% of the total cargo loaded into ports globally. Also, in 2020, Asian ports received around 7.0 billion tons of cargo, or 65.5% of all commodities discharged globally. Therefore, the increase in seaborne trade is driving the growth of the rubber-tired gantry crane market.
Technological advancement is the key trend gaining popularity in the rubber-tired gantry crane market.Major companies operating in the rubber-tired gantry crane market are focused on developing technologically advanced products to strengthen their market position.
For instance, in June 2021, Kalmar, a part of Cargotec Corporation, a Finland-based company operating in rubber-tired gantry cranes, launched a new range of gantry cranes with energy regenerative technology.Regenerative technology is an energy-restoring mechanism of machinery that is capable of storing and using energy during changes in operations and reduces the use of fuel in operation as compared to other normal machinery.
The regenerative system on the Kalmar Hybrid RTG is able to gather and store energy from brakes, container handling, gantry movements, and other activities and use it in future operations, reducing fuel usage by 64% and increasing productivity.
In January 2022, Mi-Jack Product, a US-based company operating in rubber-tired gantry cranes and container handling machinery, acquired Yardeye GmbH for an undisclosed amount.Through this acquisition, Mi-Jack Products aims to strengthen its product portfolio in rubber-tired gantry cranes and container handling machinery.
Additionally, it aims to be an expert in innovation and excellence for automation, work zone protection in intermodal terminals, ports, and others, enhancing collision avoidance systems (CAS), and others. Yardeye GmbH is a Germany-based company that manufactures rubber-tired gantry cranes..
The countries covered in the rubber-tired gantry crane market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The rubber-tired gantry cranes market research report is one of a series of new reports that provides rubber-tired gantry cranes market statistics, including global market size, regional shares, competitors with rubber-tired gantry cranes market share, detailed rubber-tired gantry cranes market segments, market trends, and opportunities, and any further data you may need to thrive in the rubber-tired gantry cranes industry. This rubber-tired gantry cranes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report:
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.