The global rubber tired gantry crane market was valued at USD 1.08 billion in 2016 and is expected to witness significant growth over the forecast period. Multiple advantages, such as low operating costs and technological advancements, are expected to stimulate the usage of these products. Technologies such as automation and wireless communication are enabling the market to attain operational efficiencies.
Emerging economic countries including Mexico, Columbia, India, and China, among others, are expected to provide adequate opportunities for market growth. The increasing trend of transshipments has led to the development of port infrastructure in these regions due to the rise in container traffic.
North America RTG crane market, by power supply, 2014 - 2025 (USD Million)
Favorable government initiatives for the development of ports, such as port capacity expansion and infrastructure development, are impelling the demand for rubber-tired gantry cranes. The expansion of the Panama Canal has further led to an increase in global container shipping traffic that enables ports to employ high capacity container handling equipment. The high cost of installation and maintenance services is expected to restrain the market. Moreover, the upgrading of existing equipment adds to the expense of the organization.
The growing population in emerging economies has led to an increase in the demand for goods and raw materials. This has subsequently contributed to a significant increase in trade volumes across the developing regions, thereby leading to investments in the development of port infrastructure. Furthermore, the increase in vessel size due to rising trade volumes has led to the implementation of sophisticated container handling equipment such as rubber-tired gantry cranes. These cranes offer effective container management capabilities owing to high operational efficiency.
The 16-wheeler RTG segment is expected to emerge as the fastest-growing segment and is presumed to grow at a CAGR of 6.1% from 2017 to 2025. The low maintenance costs incurred due to the low cost of spare parts is a significant factor for the growth of these products. Moreover, a large number of wheels lead to convenient maneuverability and increased driver safety.
Regions such as the Asia Pacific have witnessed a surge in inter-regional trade due to an increase in exports, mainly from China and India. This has enabled the regional government to invest in the development of port infrastructure to manage the incoming and outgoing container traffic. Furthermore, governments in various regions are inclined toward port expansion. For instance, in 2015, the Hong Kong government announced plans to expand the container capacity at Kwai Tsing Container terminal to cater to the growing transshipment cargo in this region.
Diesel-powered RTG dominated the global market and was valued at USD 724.3 million in 2016. Electric RTG is anticipated to be the fastest-growing segment, registering a CAGR of 9.9% over the forecast period.
Europe RTG crane market, by type, 2016 (%)
Electric RTGs reduce the need for engine component maintenance. They are able to save up to 600 liters of engine oil per year. They have a lower maintenance cost and reduced downtime. Regions such as Europe, where the government has imposed strict regulations regarding air pollution and emission control, have witnessed increased adoption of electric RTGs. They help in reducing company expenses by eliminating the usage of hydraulic and engine oil.
MEA is expected to be the fastest-growing region, registering a CAGR of over 5.3% over the forecast period. The Asia Pacific region dominated the market and was valued at over USD 486.8 million in 2016.
Ports in Europe have adopted electric RTGs to reduce pollution and greenhouse gas emissions. Government regulations in this region, such as verification of carbon emission in maritime transportation, have enabled the adoption of electric container handling equipment. Furthermore, financial transparency regarding port investments has enabled port authorities to make strategic investments in port infrastructure.
The key market players include Anupam Industries Limited, Konecranes, SANY GROUP, TNT Crane & Rigging, Liebherr, ElectroMech Material Handling Systems (India) Pvt. Ltd., Kalmar, Mi-Jack Products, Shanghai Zhenhua Heavy Industries Co., Ltd., and Reva Industries Ltd., among others.
The market comprises a small number of players that hold a large market share. Retaining market share is the key area of focus for these players. Market competitors have laid emphasis on developing efficient products that work on alternate sources of energy, such as electric and hybrid cranes. The changing macro-economic factors, such as import-export taxation and government regulations, also create a huge impact on market players.
Attribute |
Details |
Base year for estimation |
2016 |
Actual estimates/Historical data |
2014 - 2016 |
Forecast period |
2017 - 2025 |
Market representation |
Revenue in USD Million & CAGR from 2017 to 2025 |
Regional scope |
North America, Europe, Asia Pacific, Latin America, and MEA |
Country scope |
U.S., Canada, Germany, Turkey, India, Japan, China, Colombia, and Mexico |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
15% free customization scope (equivalent to 5 analyst working days) |
If you need specific market information that is not currently within the scope of the report, we will provide it to you as a part of the customization. |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the Rubber-Tired Gantry (RTG) crane market on the basis of type, power supply, and region.
Type Scope (Revenue, USD Million; 2014 - 2025)
8-wheeler
16-wheeler
Power Supply Scope (Revenue, USD Million; 2014 - 2025)
Diesel
Electric
Hybrid
Regional Outlook (Revenue, USD Million; 2014 - 2025)
North America
The U.S.
Canada
Europe
Germany
Turkey
Asia Pacific
China
India
Japan
Latin America
Columbia
Mexico
GET A FREE SAMPLE
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
ESOMAR certified & member
ISO Certified
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.
"The quality of research they have done for us has been excellent."
The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.
We value your investment and offer free customization with every report to fulfil your exact research needs.