According to the latest report by IMARC Group, titled “Global Rubber Tired Gantry Crane Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global rubber tired gantry crane market reached a value of US$ 1.34 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1.76 Billion by 2027, exhibiting a CAGR of 4.40% during 2022-2027.
A rubber tired gantry (RTG) crane, commonly known as a transtainer, is a portable device utilized in intermodal operations for grounding or stacking containers. It is mainly powered by electricity or diesel generator systems and can be commanded remotely. RTG cranes have rigid and stable steel structures that facilitate smooth movements and precise handling even at high speeds. These devices are also used to position pipelines, assemble heavy manufacturing components, and erect large and unbalanced arrangements. RTG cranes are created for space-saving container terminals to minimize downtime, enhance productivity, improve performance, extend flexibility, and reduce costs. As a result, these devices find widespread utilization across various sectors, such as construction, oil and gas, power, shipbuilding, etc.
Covid-19 Scenario: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Rubber Tired Gantry Crane Market Trends and Drivers:
The escalating number of trading activities via ships and cargo planes is primarily driving the rubber tired gantry crane market. Besides this, the launch of favorable policies by the government bodies for the development of port infrastructures and capacities is further augmenting the market growth.
Apart from this, the expansion of the Panama Canal has assisted in the shipping container traffic across countries, which is also catalyzing the global market. Moreover, the elevating industrialization and globalization levels, continuous technological advancements, and the flexible import-export taxation regimes are acting as significant growth-inducing factors.
Furthermore, the introduction of active load system (ALS) technology in these devices to enhance container stability and operational efficiency during the transportation is anticipated to bolster the rubber tired gantry crane market over the forecasted period.
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Global Rubber Tired Gantry Crane Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Anupam Industries Limited, ASCOM SPA, Bedeschi S.p.A., Cargotec Oyj, Konecranes Oyj, Liebherr-International AG, Mi-Jack Products (Lanco International Inc.), Paul Vahle GmbH & Co. KG, Reva Industries India Pvt. Ltd., Sany Heavy Industry Co. Ltd, Shanghai Zhenhua Heavy Industries Company Limited and TNT Crane & Rigging.
The report has segmented the market on the basis of region, type, power supply and application.
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Global Rubber Tired Gantry Crane Market Overview (2022-2027)
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