Rubber Tired Gantry Crane Market: Global Industry Analysis and Forecast (2023-2029)

The Global Rubber Tired Gantry Crane Market size was valued at USD 2.57 Billion in 2022 and the total Rubber Tired Gantry Crane Market revenue is expected to grow at a CAGR of 3.4% from 2023 to 2029, reaching nearly 3.05 USD Million.

A rubber-tired gantry (RTG) crane is a type of mobile crane commonly used in ports and container yards for moving and stacking shipping containers. RTG cranes are placed on wheels and are mobile on rubber tyres, in contrast to conventional gantry cranes, which are attached to the ground or rails. RTG cranes can travel swiftly and easily between various container stacks because to its mobility, which cuts down on the time and money needed for container handling activities. In order to increase efficiency and safety, RTG cranes can be fitted with a variety of lifting devices and automation systems. These devices are commonly driven by diesel engines or electric motors.

The expansion of the world's shipping sector, which depends on ports and container terminals for effective cargo handling, is a major driver of the Rubber-Tired Gantry crane market. Due to the growing demand for containerized transportation and the requirement for dependable and efficient cargo handling solutions, the industry has been expanding steadily in recent years. The expansion of container terminals and the rise of global commerce are likely to fuel market growth throughout the next years. To obtain a competitive edge in the industry, the top firms are largely concentrating on innovation, product development, and strategic alliances. Adoption of cutting-edge technologies, including automation and electrification, which are anticipated to completely change the market in the next several years, also has an impact on the market.

Based on a regional analysis, the Asia-Pacific region, where there are many container terminals in nations like China, Singapore, and South Korea, dominates the global RTG crane market. RTG cranes have substantial markets in both North America and Europe, because to the expansion of the shipping sector and rising interest in containerized transportation. Emerging markets for RTG cranes include the Middle East, Africa, and South America, and are anticipated to have rapid expansion in the years to come.To know about the Research Methodology :- Request Free Sample Report
Rubber Tired Gantry Crane Market Research Methodology
Primary and secondary data sources was used to gather information for the study of the container handling equipment industry. The study has considered the potential market influencing aspects and these were assessed to produce results. The market prediction has taken into account the effects of numerous economic factors including inflation, regulatory changes, and policy changes, as well as the market size for top-level markets and sub-segments.
The bottom-up methodology and various data triangulation approaches was considered to assess the market size and forecast. The weights allocated to each segment based on their utilisation rate and average sale price will be used to determine the percentage splits, market shares, and segment breakdowns. Based on the proportion of the provided market size that is adopted or used in each area or nation, the total market and its sub-segments was analysed by country.

The major competitors in the market were also analysed based on metrics such as market revenue, pricing, services supplied, developments, mergers and acquisitions, and joint ventures. Market engineering and calculations for market statistics, Rubber-Tired Gantry crane market size estimations, market projections, market breakdown, and data triangulation were considered to gather information and verify and confirm the key figures. In order to provide decision-makers with a clear future vision of the industry, external and internal elements that are predicted to have an impact on the firm positively or adversely will be evaluated. By examining market segments and estimating Rubber-Tired Gantry crane market size, the research can also help in understanding the dynamic structure of the industry. The study will be an investor's guide thanks to the clear depiction of competition analysis of important companies by pricing, financial condition, development plans, and regional presence in the market.
Rubber Tired Gantry Crane Market Dynamics
Major Drivers

Due to a number of important factors, the rubber tyre gantry (RTG) crane market is anticipated to expand significantly throughout the projected period. The rising need for container transportation on a worldwide scale, together with the growth of ports and terminals, are two major factors. Additionally anticipated growth in demand for RTG cranes is the rise in consumer demand for quicker and more effective supply chain operations. Additionally, the demand for RTG cranes, which can increase operational efficiency and lower labour costs, is being fuelled by the growing use of automation and robotics in material handling and logistics.

Additionally, the Rubber-Tired Gantry crane market is undergoing technological advancements, such as the incorporation of cutting-edge sensors, cameras, and software for real-time monitoring and control of crane operations. This is anticipated to improve the performance, productivity, and safety of RTG cranes, supporting the Rubber-Tired Gantry crane market growth. Additionally, the demand for electric-powered RTG cranes, which are more energy-efficient and environmentally friendly, is being fueled by the growing trend of electrification and use of renewable energy sources in port operations.

In general, the market for RTG cranes is expected to increase due to factors including rising container transportation demand, adoption of automation and robotics, technical breakthroughs, and expanding electrification and renewable energy trends.

Rubber Tired Gantry Crane Market Opportunities

Over the upcoming years, there are anticipated to be numerous growth opportunities for the Rubber Tired Gantry Crane Market. The market is anticipated to expand as a result of the rising demand for logistics and cargo transportation services as well as the requirement for effective and dependable container handling equipment.
Focusing more on sustainability and lowering emissions in the marine sector is one of the key development possibilities for the RTG market. This has prompted the use of environmentally friendly container handling machinery like RTGs that run on electricity. It is anticipated that the market for electric-powered RTGs and other environmentally friendly container handling equipment would increase as businesses turn towards sustainability and green operations.

Rubber Tired Gantry Crane Market Major Restraints

The significant initial investment cost involved in purchasing these cranes is one of the main factors limiting the market for RTG cranes. In comparison to reach stackers and forklifts, two other types of container handling machinery, RTG cranes are rather pricey. Some port operators and cargo handling facilities might be discouraged from investing in RTG cranes due to their high cost, especially smaller players with tighter budgets.
Lack of experienced operators is a significant barrier to the market for RTG cranes. Finding and maintaining skilled operators for RTG crane operations may be a significant issue for port operators and cargo handling facilities. Operating an RTG crane needs a high degree of ability and experience. The future development potential of the RTG crane industry may be constrained by the lack of competent operators.

The Rubber-Tired Gantry crane industry also has significant operating limitations that might slow its expansion. One such restriction is the restricted manoeuvrability of these cranes, which can make moving containers in crowded or constrained areas difficult. This may result in decreased production and efficiency, which may have an effect on the financial health of cargo handling facilities and port operators.

The RTG crane market may potentially be constrained by environmental issues. Diesel fuel, which is generally used to power these cranes, can contribute to air pollution and emissions. Future demand for RTG cranes may be impacted by governmental pressure in some places to adopt more environmentally friendly container handling equipment and minimise emissions.

Rubber Tired Gantry Crane Market Challenges

There are two significant obstacles facing the Rubber-Tired Gantry (RTG) crane business. First, competing technologies such as Automated Guided Vehicles (AGVs) and other automated container handling machinery are a threat. These options are becoming more and more popular among port operators because they provide more productivity, flexibility, and efficiency than standard RTG cranes. The Rubber-Tired Gantry crane market faces a significant challenge as a result of this trend towards automation and robotics since it forces them to change in order to remain competitive and relevant.

Second, the market for RTG cranes has a substantial obstacle in the form of maintenance expenses. To keep RTG cranes operating at their best, regular maintenance and repairs are required, and these expenses may add up over the course of the equipment's life. High maintenance costs can have an adverse influence on the equipment's profitability and overall cost-effectiveness, which presents a difficulty for both producers and consumers. In order to stay competitive in the industry, the Rubber-Tired Gantry crane market must thus discover ways to lower maintenance costs and enhance the overall cost-effectiveness of their equipment.
Rubber Tired Gantry Crane Market Trends
• Technological developments: With the introduction of GPS systems, variable rate technology, and other cutting-edge technologies that assist enhance efficiency and minimise costs, the RTG Crane market is going through a substantial technological transition. In the upcoming years, it is anticipated that these technological developments will continue to fuel the Rubber-Tired Gantry crane market expansion.

• E-commerce expansion: The expansion of e-commerce has increased container traffic, which has increased demand for RTG cranes. To handle the rising amount of containers brought on by the growth of online commerce, port operations must become more effective and dependable.

• Increasing investment in infrastructure: Governments and commercial companies are making significant investments in port infrastructure to increase their capacity and effectiveness. Due to the fact that RTG cranes are an essential part of port operations, this is anticipated to increase the need for them over the forecast period.
Rubber Tired Gantry Crane Market Regional Insights
North America: Due to the increased emphasis on enhancing port infrastructure and expenditures in modernising container handling equipment, North America is anticipated to account for a sizeable portion of the Rubber-Tired Gantry crane market. Additionally, the region is seeing a rise in the demand for automated, eco-friendly container handling equipment, which is anticipated to spur the RTG market's expansion.

Asia Pacific: Due to the presence of significant seaports and container terminals in nations like China, India, and Japan, the Asia Pacific region is predicted to be the largest market for RTG cranes. Additionally, the region is seeing an increase in investments in port infrastructure, which is anticipated to fuel the RTG market's expansion.
Europe: Due to the rising demand for automated, environmentally friendly container handling equipment and the presence of significant seaports in nations like Germany, the Netherlands, and Belgium, Europe is predicted to experience steady growth in the RTG market.

Lamea: The LAMEA Rubber-Tired Gantry crane market is expected to expand significantly as a result of the region's increased emphasis on building port infrastructure in nations like Saudi Arabia, Brazil, and South Africa. Additionally, the region is seeing an increase in investments in port automation and digitization, which is anticipated to fuel the RTG market's expansion.

Overall, due to the rising need for effective and environmentally friendly container handling equipment in the shipping sector, the Rubber-Tired Gantry crane market is anticipated to have considerable expansion in all regions.
Rubber Tired Gantry Crane Market Competitive Landscape:
Numerous players are vying for a bigger market share in the Rubber Tired Gantry Crane Market, which is very competitive. Konecranes Plc, Cargotec Corporation, Liebherr Group, Terex Corporation, and Shanghai Zhenhua Heavy Industries Co., Ltd. are among of the Rubber-Tired Gantry crane market’s top competitors. These businesses have a significant global footprint and provide a variety of RTG cranes to meet the various demands of clients throughout the world. The market is, however, also characterised by the existence of a number of smaller companies who significantly contribute to the industry's expansion. Anhui Heli Co. Ltd., Kalmar Inc., and Sany Group Co., Ltd. are a few of these participants. To obtain a competitive advantage in the market, these businesses are concentrating on creating RTG cranes that are both technologically sophisticated and reasonably priced. Existing and new companies are anticipated to step up their efforts to increase their Rubber-Tired Gantry crane market share as the market for RTG cranes expands, changing the dynamics of the industry as a whole.
Rubber Tired Gantry Crane Market Scope: Inquire before buying



Rubber Tired Gantry Crane Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 2.57 Bn.


Forecast Period 2023 to 2029 CAGR:
3.35%
Market Size in 2029:
US $ 3.05 Bn.


 Segments Covered:
by Vehicle class
• 8-wheeler
• 16-wheeler


by Application
• Diesel
• Electric
• Hybrid



Rubber Tired Gantry Crane Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Rubber Tired Gantry Crane Market Key Players:
• Cargotec Corporation
• Konecranes Plc
• Shanghai Zhenhua Heavy Industries Co., Ltd. (ZPMC)
• Liebherr International AG
• Terex Corporation
• Kalmar Inc.
• Anhui Heli Co. Ltd.
• Hoist Liftruck Mfg., LLC
• SANY Group Co. Ltd.
• Toyota Industries Corporation
• Hyster-Yale Materials Handling, Inc.
• Kress Corporation
• CVS Ferrari S.p.A.
• Doosan Industrial Vehicle America Corp.
• Manitou Group
• Taylor Machine Works, Inc.
• Clark Material Handling Company
• HUBTEX Maschinenbau GmbH & Co. KG
• Mitsubishi Heavy Industries, Ltd.
• XCMG Group
• Beijing Jingcheng Heavy Industry Machinery Co., Ltd.
• Hangcha Group Co. Ltd.
• Hyundai Heavy Industries Co. Ltd.
• JCB Inc.
• JLG Industries, Inc.

1. What are the growth drivers for the Rubber Tired Gantry Crane Market?
Ans. Growing need for containerized cargo transportation, expansion of seaport infrastructure, and increased adoption of automation and digitalization technologies in port operations are the major factors for the Rubber Tired Gantry Crane Market.

2. What is the major restraint for the Rubber Tired Gantry Crane Market growth?
Ans. The major restraint for the Rubber Tired Gantry Crane Market growth is the competition from alternative technologies.

3. Which region is expected to lead the global Rubber Tired Gantry Crane Market during the forecast period?
Ans. Asia Pacific is expected to lead the global Rubber Tired Gantry Crane Market during the forecast period.

4. What is the projected market size & growth rate of the Rubber Tired Gantry Crane Market?
Ans. The Rubber Tired Gantry Crane Market size was valued at USD 2.57 Billion in 2022 and the total Rubber Tired Gantry Crane Market revenue is expected to grow at a CAGR of 3.8% from 2023 to 2029, reaching nearly USD 3.05 Billion.

5. What segments are covered in the Rubber Tired Gantry Crane Market report?
Ans. The segments covered in the Rubber Tired Gantry Crane Market report are Type, Applications, End-use, and Region.