The global rubber tired gantry crane market size is expected to reach USD 1.64 billion by 2025, according to a new study 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.
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Further key
findings from the study suggest:
- The 16-wheeler RTGs segment
dominated the overall market in 2016 and was valued at USD 563 million.
Easy maneuverability and high load carrying capacity are expected to
propel the demand for these products
- Electric cranes contributed
remarkably toward industry growth and were valued at USD 269.1 million in
2016
- Hybrid RTGs are widely
adopted as they are equipped with optional diesel generator sets that are
expected to prevent the downtime and keep the equipment functional
- The hybrid-powered RTG
segment is expected to gain traction over the forecast period and was
valued at USD 92.0 million in 2016. These RTGs facilitate port terminals
and crane operators in reducing fuel expenses
- The demand for this
equipment in the Asia Pacific region was relatively higher, owing to its
operational efficiency. The region is expected to grow at a CAGR of
4.4%from 2017 to 2025
- Ports in North America are
expected to receive funding from regional governments for port
infrastructure development. The funds will be invested in container
handling equipment and terminal development for capacity expansion
- The key industry
participants 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.
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Grand View Research has segmented
the Rubber-Tired Gantry (RTG) crane market based on type, power supply, and
region:
Rubber Tired Gantry
Crane Type Outlook (Revenue, USD Million; 2014 - 2025)
- 8-wheeler
- 16-wheeler
Rubber Tired Gantry
Crane Power Supply Outlook (Revenue, USD Million; 2014 - 2025)
- Diesel
- Electric
- Hybrid
Rubber Tired Gantry
Crane 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
- MEA
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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