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Rubber Tired Gantry Crane Market Size - By Type (8-wheeler, 16-wheeler), By Power Supply (Diesel, Electric, Hybrid), By Operation (Hydraulic, Electric, Hybrid) & Region – Forecasts By 2030

  • PUBLISHED ON
  • 2024-09-27
  • NO OF PAGES
  • 259
  • CATEGORY
  • Automotive & Transportation
Market - Overview

The Rubber Tired Gantry Crane Market is valued at USD 975.76 billion in 2022 and is projected to reach a value of USD 1301.87 billion in 2030 expanding at a CAGR of 3.67% over the forecast period of 2022-2030.

The rubber tired gantry crane market is mainly driven by favourable government initiatives for the development of ports.

A port has become a wheel of the economy only if it runs capably. Nowadays, the purpose of a port is not only limited but has also extended to a logistical platform.

Also, the productivity of a port is important in international trade as a seaport is the nerve of foreign trade of a country.

Several government policies are also being undertaken that will, in turn, drive the global rubber tire gantry crane market over the forecast period.

Rubber Tired Gantry Crane Market - Description

A rubber-tired gantry (RTG) crane is defined as a mobile gantry crane that is used to ground or stack containers in intermodal operations.

The inbound containers are stored for future pickup by drayage trucks, while the outbound are stored for future loading onto vessels.

Various factors that includes, increase in seaborne trade because of rapid industrialization, the flexible taxation across various regions for the import of goods, increase in incoming container traffic, and increased crane efficiency during loading and unloading of containers from the ship are driving the market growth.

Rubber Tired Gantry Crane Market- Key Market Trends

•Rise in focus toward green technology has boosted the market growth

Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the rise in focus toward green technology. Also, the rise in demand for goods & raw material, and rise in global economy has driven the growth of the market over the forecast period.

The use of rubber-tired gantry (RTGs) that is equipped with electric drives can be optimized to consume less power. The use of the battery hybrid technology on the cranes will focus to substantially reduce fuel consumption and damaging fossil fuel emissions.

•High capital investment & maintenance cost has hindered the market growth

The major restrain to the market growth over the forecast period is the high capital investment and maintenance cost. Flywheel energy storage technology for rubber Tire gantry cranes or rubber-tired gantry (RTG) that can either be retrofit to existing RTG cranes or included as part of a new build.

Flywheels offer fuel and emission reductions by capturing braking energy produced when a container is lowered. These have provided lucrative opportunities to the market over the forecast period.

Rubber Tired Gantry Crane Market- Segmental Analysis 

Based on Type
•8-wheeler
•16-wheeler

The 8-wheeler segment has dominated the market growth over the forecast period. This is because of the rising popularity of the segment.

Based on Power Supply
•Diesel
•Electric
•Hybrid

The diesel segment has dominated the market growth over the forecast period.

Based on Operation
•Hydraulic
•Electric
•Hybrid

The electric segment has dominated the market growth over the forecast period.

Rubber Tired Gantry Crane Market - Geographical Analysis 

The Rubber Tired Gantry Crane Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, Europe has dominated the market growth over the forecast period. This is because of Europe's ports that have adopted electric RTGs for reducing pollution and greenhouse gas emissions.

The government regulations in this region have enabled the adoption of electrical container handling equipment, such as carbon emission verification in maritime transportation. Europe accounts for a large volume of trade in products and assets, such as machinery, vehicles, aircraft, fuels, nonferrous metals, textiles, chemicals, clothing, and crude oils.

Rubber Tired Gantry Crane Market - Competitive Landscape

Some of the prominent companies operating in the market are Anupam Industries Limited, Konecranes, SANY GROUP, TNT Crane & Rigging, Liebherr, ElectroMech Material Handling Systems Pvt. Ltd., Kalmar, Mi-Jack Products, Shanghai Zhenhua Heavy Industries Co., Ltd., Reva Industries Ltd.

Major Segments Covered

•Type (8-wheeler, and 16-wheeler)
•Power Supply (Diesel, Electric, and Hybrid)
•Operation (Hydraulic, Electric, and Hybrid)

Key Countries and Regions covered

•North America (US, Canada, and Mexico)
•Europe (UK, Germany, France, Italy, Netherlands, and Rest of Europe)
•Asia Pacific (China, Japan, South Korea, and Rest of APAC)
•Middle east and Africa


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Market Research Process




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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the market size and growth projections?

The Rubber Tired Gantry Crane Market is valued at USD 975.76 billion in 2022 and is projected to reach a value of USD 1301.87 billion in 2030 expanding at a CAGR of 3.67% over the forecast period of 2022-2030

What are the drivers shaping various markets?

Rise in focus toward green technology has boosted the market growth: - Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the rise in focus toward green technology. Also, the rise in demand for goods & raw material, and rise in global economy has driven the growth of the market over the forecast period. The use of rubber-tired gantry (RTGs) that is equipped with electric drives can be optimized to consume less power.

Who are the key competitors of market Players?

Some of the major players operating within the market are Anupam Industries Limited, Konecranes, SANY GROUP, TNT Crane & Rigging, Liebherr, ElectroMech Material Handling Systems Pvt. Ltd., Kalmar, Mi-Jack Products, Shanghai Zhenhua Heavy Industries Co., Ltd., Reva Industries Ltd.

What are the top performing segments, and countries / regions of each of the markets?

The Rubber Tired Gantry Crane Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, Europe has dominated the market growth over the forecast period. This is because of Europe's ports that have adopted electric RTGs for reducing pollution and greenhouse gas emissions.

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