Global Rubber Tired Gantry Crane Market Report and Forecast 2024-2032

Global Rubber Tired Gantry Crane Market Report and Forecast 2024-2032

Global Rubber Tired Gantry Crane Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global rubber tired gantry crane market size reached approximately USD 1.52 billion in 2023. Aided by the increasing development of port infrastructure, the market is projected to grow at a CAGR of 4.7% between 2024 and 2032, reaching a value of around USD 2.31 billion by 2032.

A rubber tired gantry crane (RTG crane) is a mobile crane used for stacking and moving intermodal containers within a container terminal, port, or rail yard. Unlike fixed cranes, RTG cranes are mounted on rubber tyres, which allows them to move easily across the terminal to stack or move containers.

The interconnection between the rubber tired gantry crane market and global trade is profound. As economies worldwide continue to integrate and trade barriers are reduced, the volume of goods transported across borders is on a steady rise. This increase in trade volume directly correlates with heightened demand for containerised cargo handling. RTG cranes, known for their efficiency in loading and unloading containers, are becoming increasingly indispensable in ports and terminals. As global trade continues to expand, the reliance on RTG cranes is expected to grow, driving the demand for these cranes in the international market.

The rubber tired gantry crane market is at the forefront of technological innovation. As the market seeks to enhance operational efficiency and reduce environmental impact, advancements such as electrification, automation, and remote monitoring are becoming increasingly prevalent. Electrification reduces the reliance on diesel fuel, leading to lower emissions and operational costs. Automation enhances precision and speed in container handling, while remote monitoring allows for real-time tracking of crane performance and maintenance needs. These technological advancements are not only improving the functionality of RTG cranes but are also making them more sustainable and cost-effective.

Governments and port authorities are investing heavily in modernising and expanding ports to ensure they can handle the growing demand. The expansion of global trade significantly propels the rubber tired gantry crane market growth as it necessitates the development of port infrastructure to accommodate the increasing volumes of cargo. RTG cranes are a critical component of this infrastructure development. Their ability to stack containers efficiently makes them essential for optimising space utilisation in ports. As port infrastructure continues to evolve to meet the demands of global trade, the role of RTG cranes in these developments remains pivotal.

Operational efficiency is a key focus area for ports and terminal operators. Reducing turnaround times and operational costs is crucial for maintaining competitiveness in the global market. RTG cranes play a vital role in achieving these efficiency goals. Their ability to quickly and accurately stack containers helps minimise delays and maximise throughput. Furthermore, advancements in RTG crane technology are enabling even greater levels of efficiency, making them an indispensable tool for ports and terminals aiming to streamline their operations.

In the rubber tired gantry crane market, the 16-wheeler variant is poised to capture a substantial market share due to its cost-effective maintenance and spare parts. This type of crane is not only more economical to operate, but it also offers enhanced safety features and manoeuvrability for drivers. These cranes are particularly suitable for large manufacturing units, handling cylindrical components, building unbalanced structures, and positioning pipelines, among other applications.

The Asia Pacific rubber tired gantry crane market is expected to experience significant growth during the forecast period. This growth is largely driven by the presence of major manufacturers in the region and their increased investments in research and development activities. These efforts are aimed at producing technologically advanced equipment that can meet the evolving needs of the market. Additionally, the rising transportation of iron ore and coal in several developing countries within the region is a testament to the increasing industrialisation and urbanisation.

Market Segmentation

The global rubber tired gantry crane market can be divided based on type, power supply, and region.

Market Breakup by Type

• 8-Wheeler
• 16-Wheeler

Market Breakup by Power Supply

• Diesel
• Electric
• Hybrid

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global rubber tired gantry crane market. Some of the major players explored in the report by Expert Market Research are as follows:

• Liebherr Group
• Konecranes
• Mi-Jack Products, Inc.
• SANY Group
• Bedeschi S.p.A.
• ASCOM SPA
• ElectroMech Material Handling Systems Pvt Ltd.
• Cargotec Corporation
• Henan Yuantai Crane Machinery Import & Export Co,. Ltd.
• Anupam Industries Limited
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.