Rubber Tired Gantry Crane Global Market Report 2024

A rubber-tired gantry crane is a mobile gantry crane equipped with wheels that is operated from the ground. It is designed to lift heavy containers, facilitating loading, unloading, and stacking operations at container yards and seaports.

The main types of rubber-tired gantry cranes include 8-wheelers and 16-wheelers. The 8-wheeler is a smaller mobile gantry crane used for container handling at seaports. It features 8 wheels arranged in a configuration of 2 wheels in four corners, four in the rear, and two in the front. This type of crane is capable of lifting weights ranging from 24.5 to 34.8 tons. These cranes are powered by various sources, including diesel, electric, hybrid, and others. They find applications in industries such as construction, oil and gas, shipbuilding, power and utilities, and various other sectors.

The rubber tired gantry crane market research report is one of a series of new reports that provides rubber tired gantry crane market statistics, including global market size, regional shares, competitors with rubber tired gantry crane market share, detailed rubber tired gantry crane market segments, market trends, and opportunities, and any further data you may need to thrive in the rubber tired gantry crane industry. This rubber tired gantry crane market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The rubber tired gantry crane market size has grown steadily in recent years. It will grow from $1.21 billion in 2023 to $1.26 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth observed in the historical period can be attributed to factors such as the increase in containerized cargo, the growth of container terminals, port modernization, and expansion initiatives, as well as the adoption of automation in ports.

The rubber tired gantry crane market size is expected to see strong growth in the next few years. It will grow to $1.54 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The increase projected for the upcoming period is a result of factors such as a focus on energy efficiency and environmental considerations, the expansion of e-commerce, investments in port infrastructure, the growth of global trade, advancements in remote operation and connectivity, and the utilization of hybrid and alternative power sources. Key trends anticipated in the forecast period encompass the development of smart ports and digitalization, the adoption of telematics and remote monitoring, testing involving augmented reality (AR) and virtual reality (VR), remote diagnostics and testing, as well as compatibility with electric and autonomous technologies, and AI-powered testing.

The anticipated growth in seaborne trade is poised to drive the expansion of the rubber-tired gantry crane market in the future. Rubber-tired gantry cranes, frequently utilized in seaports for container loading, unloading, and stacking, facilitate the efficient handling of cargo in maritime trade. The surge in seaborne trade has consequently elevated the utilization of these cranes in seaports, streamlining the handling of hefty containers involved in waterborne shipping. As an illustration, the International Maritime Trade report projects a volume of 12,027 million tons for international seaborne trade in 2022, emphasizing the pivotal role of seaborne trade growth in propelling the rubber-tired gantry crane market.

The rubber-tired gantry crane market is expected to experience a boost due to the increasing pace of industrialization. The industrialization trend, characterized by the construction and expansion of diverse manufacturing, processing, and production facilities, necessitates a stable and consistent power supply for successful operations. This surge in industrialization has led to a heightened demand for goods and raw materials, resulting in a substantial increase in trade volumes across developing regions. This, in turn, has prompted investments in port infrastructure development, positively impacting the rubber-tired gantry crane market. Notably, Goldman Sachs reports a remarkable 210% growth in the Indian manufacturing sector during the fiscal year 2021-2022, compared to the previous fiscal year, while the United Nations Industrial Development Organization (UNIDO) notes a global manufacturing production increase of 9.4% in March 2022. Consequently, the upswing in industrialization is a significant driver for the rubber-tired gantry crane market.

A prominent trend gaining traction in the rubber-tired gantry crane market is technological advancement. Key players in the market are actively engaged in the development of technologically sophisticated products to enhance their market positions. For example, in June 2021, Kalmar, a part of Cargotec Corporation, introduced a new range of gantry cranes featuring energy regenerative technology. This innovative system allows the crane to store and utilize energy during various operational changes, reducing fuel consumption by 64% and increasing overall productivity. Notably, major companies in the rubber-tired gantry crane market are focusing on groundbreaking products such as hydrogen-powered gantry cranes. These cranes utilize hydrogen fuel cells as their primary power source, contributing to carbon neutrality goals without compromising performance. In March 2023, Mi-Jack, a US-based provider of rubber-tired gantry cranes, announced plans to install a hydrogen propulsion system in its RTG crane, emphasizing the environmental benefits of hydrogen fuel cells, including quick recharge, operational reliability in extreme climates, and zero emissions.

In January 2022, Mi-Jack Products, a US-based company specializing in rubber-tired gantry cranes and container handling machinery, successfully acquired Yardeye GmbH, a Germany-based manufacturer of rubber-tired gantry cranes. This strategic acquisition aims to fortify Mi-Jack Products' product portfolio in the field of rubber-tired gantry cranes and container handling machinery. Additionally, the company aims to establish itself as a leader in innovation and excellence, particularly in automation, work zone protection in intermodal terminals and ports, and the enhancement of collision avoidance systems (CAS). Yardeye GmbH's expertise and products are expected to contribute significantly to Mi-Jack Products' growth in these areas.

Major companies operating in the in the rubber tired gantry crane market report are Anupam Industries Limited, KONE Corporation, Liebherr-International AG, Konecranes and Demag Private Limited, Reva Industries India Pvt. Ltd., Sany Heavy Industry India Private Limited, TNT Crane & Rigging Inc., Shanghai Zhenhua Heavy Industries Company Limited, ElectroMech Material Handling Systems (India) Pvt Ltd, Bedeschi SpA, Ascom SpA, Paul Vahle GmbH & Co. KG, Kalmar automation and integration solutions, Terex Corporation, Cargotec Corporation, Doosan Enerbility Co. Ltd, TCM Corporation Public Company Limited, ELME Spreader AB, Cavazza Diego & C. S. r. L., RAM Spreaders, Paceco Corp., Shanghai Port Machinery Co. Ltd., Xuzhou Construction Machinery Group Co. Ltd., Bromma Conquip AB, HD Hyundai Heavy Industries Co. Ltd., Mi-Jack Products Inc., Dalian Huarui Heavy Industry Group Co. Ltd., Linde Material Handling, Noell Crane Systems GmbH, Hyster-Yale Materials Handling Inc.

Asia-Pacific was the largest region in the rubber tired gantry crane market in 2023. Middle East is expected to be the fastest-growing region in the forecast period. The regions covered in the rubber tired gantry crane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the rubber tired gantry crane market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The rubber tired gantry crane market consists of sales of single-beam, double-beam, electric and hydraulic rubber-tired gantry crane. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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