Yard Crane Market - By Type (Rubber-Tired Gantry (RTG) Cranes, Rail-Mounted Gantry (RMG) Cranes), By Application (Shipping Yard, Port, Rail Yard, Container Handling Facilities) & Forecast, 2023 - 2032

Yard Crane Market - By Type (Rubber-Tired Gantry (RTG) Cranes, Rail-Mounted Gantry (RMG) Cranes), By Application (Shipping Yard, Port, Rail Yard, Container Handling Facilities) & Forecast, 2023 - 2032

Yard Crane Market is projected to expand at 5.3% CAGR from 2023-2032 propelled by the ongoing port modernization initiatives.

Lately, several ports across the globe are investing in modernizing their infrastructure to enhance efficiency and accommodate the increasing demands of international trade. For instance, in November 2023, the Port of Colombo (POC) assigned ABB to supply automated stacking cranes to improve the operating efficiency of its new major terminals. Furthermore, the influx of automation, digitization, and the higher integration of smart technologies is becoming integral to modern ports, further surging the demand for sophisticated yard cranes at maritime facilities to achieve operational excellence and increased capacity.

The yard crane industry is segmented into type, application, and region.

Based on type, the market share from the rail-mounted gantry (RMG) cranes segment is anticipated to gain significant traction from 2023-2032. RMG cranes offer efficient and precise movement of containers between trains, trucks, and storage yards given their ability to operate on rail tracks with enhanced flexibility and optimized yard space. Additionally, RMG cranes offer improved productivity and reduced turnaround times to streamline logistics in intermodal transportation hubs.

In terms of application, the yard crane market from the shipping yard segment generated substantial revenue in 2022 and is estimated to record notable growth through 2032. This can be attributed to the increasing demand for yard cranes to facilitate seamless movement and stacking of containers for loading and unloading operations. Moreover, the surging global trade volume is fueling the need for efficient and high-capacity crane solutions to enhance cargo handling productivity at shipping yards. The rising need for optimized storage, improved turnaround times, and overall operational efficiency in bustling shipping terminals will outline the segment growth.

Regionally, the North America yard crane industry is set to exhibit robust growth between 2023 and 2032. This is driven by the rising demand for yard cranes to manage the increased container traffic at ports due to the booming international trade. North American ports and intermodal facilities are largely investing in advanced crane technologies to enhance cargo handling capabilities, reduce turnaround times, and optimize space utilization. Additionally, the rising focus on modernizing logistics and transportation infrastructure coupled with the increasing e-commerce activities will further boost the regional industry growth.