Rubber Tired Gantry Crane Market Size, Share & Trends Analysis Report By Type (8 Wheel, 16 Wheel), By Power Supply (Diesel, Electric, Hybrid), By Region, And Segment Forecasts, 2023 - 2030

Rubber Tired Gantry Crane Market Size, Share & Trends Analysis Report By Type (8 Wheel, 16 Wheel), By Power Supply (Diesel, Electric, Hybrid), By Region, And Segment Forecasts, 2023 - 2030

Rubber Tired Gantry Crane Market Growth & Trends

The global rubber tired gantry crane market size is expected to reach USD 1.98 billion by 2030, registering a CAGR of 5.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Advancements in technologies, such as Active Load System (ALS), are expected to fuel the market growth over the forecast period. RTGs equipped with ALS technology help in increasing the stability of the container during transportation.

The increasing seaborne trade due to rapid industrialization has led to the development of port infrastructure across the globe. The growth in seaborne trade can be attributed to the increasing population, especially in developing regions. Moreover, flexible taxation across various regions for the import of goods has led to an increase in incoming container traffic. This stimulates the implementation of robust container handling equipment such as RTGs.

The recent advancements in technology have helped in increasing the efficiency of cranes during loading and unloading of the container from the ship. Cranes are being remotely controlled through a wireless medium established at a common control center that enhances driver safety and operational convenience.

The growth in vessel size due to an increase in global trade has stimulated the usage of RTGs in various ports for improving container handling capacity. The equipment operates with fewer performance deviations and carries out container stacking in a lower number of moves, thereby saves fuel and time of operation.

Market participants are increasingly focusing on green technology due to stringent government regulations pertaining to pollution and emission limits across various regions. Moreover, the use of RTGs equipped with electric drives can be optimized to consume less power.

Rubber Tired Gantry Crane Market Report Highlights

• The 16-wheeler RTG segment dominated the rubber tired gantry crane market with a revenue share of 62.1% in 2022.Easy maneuverability and high load carrying capacity are expected to propel the demand for these products
• Diesel-powered RTG dominated the global market with a revenue share of 55.6% in 2022. This growth is attributed to the high power and torque, long operating range, established infrastructure & support system, and lower initial investment costs.
• Electric RTG is anticipated to be the fastest-growing segment, registering a CAGR of 7.8% over the forecast period. Electric RTGs reduce the need for engine component maintenance. They can save up to 600 liters of engine oil per year. They have lower maintenance costs and reduced downtime.
• Asia Pacific is the leading region with a market share of 40.0% in 2022. Regions such as the Asia Pacific have witnessed a surge in inter-regional trade due to increased exports, mainly from China and India.
• Europe is expected to witness significant growth in this market from 2022 to 2030. Ports in Europe have adopted electric RTGs to reduce pollution and greenhouse gas emissions.

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