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Rubber Tired Gantry Crane Market To Reach $2.2 Billion, Globally, By 2033 At 4.7% CAGR: Allied Market Research
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2022 |
| Market Size in 2023 | $1.4 billion |
| Market Size in 2033 | $2.2 billion |
| CAGR | 4.7% |
| No. of Pages in Report | 340 |
| Segments Covered | Type, Power Supply, Application, and Region. |
| Drivers | Increase in container traffic |
| Technological advancements | |
| Rise in environmental concerns | |
| Opportunities | Rising interest in eco-efficient port handling solutions |
| Advancements in technology | |
| Restraints | High initial investment |
| Limited space and infrastructure |
Procure Complete Report (340 Pages PDF with Insights, Charts, Tables, and Figures): rubber-tired-gantry-crane-market-A13965
Segment Highlights
8-wheeler RTG Cranes are equipped with eight wheels, typically arranged in a configuration that provides stability and maneuverability for lifting and moving containers within a port or terminal. The design of 8-wheeler RTG cranes allows them to efficiently handle containers while navigating the layout of the terminal. The surge in global trade and maritime activity drives the need for effective port handling machinery, such as RTG cranes. Among container terminals, 8-wheeler RTG cranes are favored for their adaptability, maneuvering capabilities, and efficient handling of standard container loads. As ports worldwide undergo expansion and modernization efforts to accommodate larger ships and increased cargo volumes, the demand for RTG cranes, particularly the 8-wheeler variants, is on the rise. This is essential to ensure smooth and efficient container handling operations across terminals.
Based on the type, the 16-wheeler segment held the highest market share in 2022 as the 16-wheeler RTG cranes offer higher load capacity and better stability, making them more suitable for large-scale operations in ports and heavy industrial applications. 16-wheeler RTG cranes feature a larger number of wheels, totaling sixteen. This configuration offers enhanced stability and weight distribution, which allows the handling of heavier loads and larger containers. The additional wheels contribute to improved maneuverability and operational efficiency in container handling operations.
Based on the power supply, the electric segment held the highest market share in 2022 as electric RTG cranes are becoming increasingly popular due to their lower operational costs, reduced emissions, and compliance with stringent environmental regulations. The adoption of cutting-edge technologies such as automation, remote control, and live monitoring fuels the need for contemporary RTG cranes. With advanced features, 8-wheeler RTG cranes enhance productivity, safety, and operational effectiveness, appealing to clients aiming to streamline port activities. Growing environmental consciousness and regulatory obligations motivate port operators to embrace eco-friendly machinery. Recognized for their environmentally sustainable attributes, particularly with electric or hybrid power options, 8-wheeler RTG cranes are increasingly favored over diesel-powered counterparts, driving their market acceptance.
Based on the application, the shipbuilding segment held the highest market share in 2022. Shipbuilding requires precise and heavy lifting capabilities, and RTG cranes are essential for moving large ship components. The continuous growth in global trade and the expansion of shipbuilding activities in major shipbuilding nations boost the demand for RTG cranes in this sector.
Regional Outlook
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022. Asia-Pacific leads the market due to the region's massive port operations, rapid industrialization, and significant investments in infrastructure development. Countries such as China, India, Japan, South Korea, and Singapore have witnessed substantial growth in the RTG Cranes market. Rapid industrialization, urbanization, and infrastructure development in these countries have led to increased container traffic at ports and terminals, driving the demand for RTG cranes to handle cargo efficiently.
To Talk With Our Industry Expert @
Players:
- Anupam Industries Limited ELECTROMECH MATERIAL HANDLING SYSTEMS (INDIA) PVT. LTD. Cargotec Konecranes Liebherr-International Deutschland GmbH Mi-Jack Reva Industries Limited SANY Group Shanghai Zhenhua Heavy Industries Co., Ltd. TNT Crane & Rigging
The report provides a detailed analysis of these key players in the global rubber tired gantry market. These players have adopted different strategies such as new product launches, collaborations, expansion, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Development:
- In August 2023, Konecranes collaborated with CMA CGM Kaohsiung Terminal Co. Limited to secure a notable order for 7 hybrid Konecranes Noell Rubber-Tired Gantry (RTG) cranes. This partnership signifies a commitment to advancing container terminal management, with Konecranes providing cutting-edge RTGs tailored to meet the evolving needs of the industry. In June 2023, the Port of Felixstowe, operated by Hutchison Ports, received six new semi-automated remote-controlled electric rubber-tyred gantry cranes (RCeRTGs) from Finnish manufacturer Konecranes. These RCeRTGs boast the capability to lift containers 1-over-6 high and span 7 rows and a roadway. Equipped with remote control technology, operators stationed in a central control room seamlessly manage lift operations to or from carrying vehicles, enhancing operational efficiency at the port.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports " and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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