A rubber-tired gantry (RTG) crane is a mobile gantry crane used to ground or stack containers in intermodal operations. Inbound containers are stored for future pickup by drayage trucks, while outbound are stored for future loading onto vessels. Various factors such as increase in seaborne trade due to rapid industrialization, the flexible taxation across various regions for the import of goods, increase in incoming container traffic, and increased crane efficiency during loading and unloading of containers from the ship drive the market growth throughout the forecast period. The various advanced technologies such as automation and wireless communication are increasing the operational efficiencies of cranes during loading and unloading of the container from the ship.
COVID-19 Impact Analysis
- The COVID-19 crisis is affecting industries globally, and the global economy was significantly hampered . The outbreak has created substantial disruptions in primary industries such as consumer electronics, semiconductors, automotive, and IT infrastructure. All these industries are crucial for the growth of the global rubber-tired gantry crane market as they are the primary demand generation industries for rubber-tired gantry cranes. Factory shutdowns, travel bans, trade bans, and border lockdowns have impacted both manufacturing and sales of various consumer electronic products and components. The global electronics and semiconductor industry is one of the major industries that are facing serious disruptions due to supply chain issues and manufacturing shutdowns.
Top Impacting Factors
Rise in focus toward green technology, rise in demand for goods & raw material, and rise in global economy drive the growth of the market.
High capital investment & maintenance cost hinder the growth of the market.
Favorable government initiative act as an opportunity for the market investments.
The Rubber-Tired Gantry Crane Market Trends are as Follows:
Rise in Focus Toward Green Technology
- Market participants focus on green technology due to strict government regulations governing pollution and emission limits across various regions. Furthermore, the use of rubber-tired gantry (RTGs) equipped with electric drives can be optimized to consume less power. The use of the battery hybrid technology on the cranes will focus to substantially reduce fuel consumption and damaging fossil fuel emissions. Approximately 10% of the diesel fuel emissions from cargo handling equipment at ports are emitted by rubber-tired gantry (RTG) cranes; the use of more efficient RTGs directly reduces the environmental impact of crane operations. This technology is an answer for busy port operators across the globe who need to increase efficiencies while reducing emissions and the environmental impact of their operations, as well as provide additional benefits of reduced operating costs with less greenhouse gas emissions and lower noise levels at the terminal. Flywheel energy storage technology for rubber Tire gantry cranes or rubber-tired gantry (RTG) that can either be retrofit to existing RTG cranes or included as part of a new build. Flywheels offer fuel and emission reductions by capturing braking energy produced when a container is lowered.
Key Benefits of the Report:
- This study presents the analytical depiction of the rubber-tired gantry crane market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the rubber-tired gantry crane market.
- The current market is quantitatively analyzed to highlight the growth scenario of the rubber-tired gantry crane market.
- The report provides a detailed rubber-tired gantry crane market analysis based on competitive intensity and the competition that will take shape in coming years.
Questions Answered in the Rubber-Tired Gantry Crane Market Research Report:
- Who are the leading market players active in the rubber-tired gantry crane market?
- What would be the detailed impact of COVID-19 on the market?
- What are the current trends that would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the rubber-tired gantry crane market?
- What are the future projections that would help in taking further strategic steps?
Rubber Tired Gantry Crane Market Report Highlights
By Power Supply
Key Market Players
AG Cranes, SANY Heavy Industry, Bocker, Shantui International, Liebherr, Est. Junghan Industry, Kito Corporation, New Millennium Engineering, Konecranes, Mantsinen Group
Anupam Industries Limited, Konecranes, SANY GROUP, TNT Crane & Rigging, Liebherr, ElectroMech Material Handling Systems Pvt. Ltd., Kalmar, Mi-Jack Products, Shanghai Zhenhua Heavy Industries Co., Ltd.,, Reva Industries Ltd.