Rubber Tired Gantry Crane Market Size, Share & Trends Analysis Report By Type (8-wheeler, 16-wheeler), By Power Supply (Diesel, Electric, Hybrid), By Region, And Segment Forecasts, 2023 - 2033

Introduction
Rubber Tired Gantry (RTG) crane is a versatile material handling equipment that operates on rubber tires and runs on an electric or diesel power source. It is widely used in container terminals, intermodal yards, and other logistics and distribution centers for loading, unloading, and stacking containers. The RTG cranes offer flexibility, efficiency, and productivity in handling diverse types of cargo and meeting the operational needs of port operators, freight forwarders, and shipping lines.

According to the latest report, the Global Rubber Tired Gantry Crane Market size is projected to grow from USD 292.3 million in 2020 to USD 379.2 million by 2025, at a CAGR of 3.67% during the forecast period. The increasing demand for containerized cargo transportation, rising seaborne trade, and growing investments in port infrastructure are the key drivers of the market growth.

In this article, we will explore the various facets of the Global Rubber Tired Gantry Crane Market, including market segmentation, competition landscape, growth drivers, and challenges.

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Rubber Tired Gantry Crane Market- Segmental Analysis of the Market

Based on type
•8-wheeler
•16-wheeler

The 8-wheeler segment has dominated the market growth over the forecast period. This is because of the rising popularity of the segment.

Based on Power Supply
•Diesel
•Electric
•Hybrid

The diesel segment has dominated the market growth over the forecast period.

Based on Operation
•Hydraulic
•Electric
•Hybrid

The electric segment has dominated the market growth over the forecast period.

Rubber Tired Gantry Crane Market- Geographical Analysis of the Market
The Rubber Tired Gantry Crane Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, Europe has dominated the market growth over the forecast period. This is because of Europe's ports that have adopted electric RTGs for reducing pollution and greenhouse gas emissions. The government regulations in this region have enabled the adoption of electrical container handling equipment, such as carbon emission verification in maritime transportation. Europe accounts for a large volume of trade in products and assets, such as machinery, vehicles, aircraft, fuels, nonferrous metals, textiles, chemicals, clothing, and crude oils.

Rubber Tired Gantry Crane Market- Competitive Landscape
Some of the prominent companies operating in the market are 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.

Report Scope
Rubber Tired Gantry Crane Market: Historical Period- 2018-2021
Rubber Tired Gantry Crane Market: Industry and Forecast Period- 2022-2030
Rubber Tired Gantry Crane Market CAGR- 3.67%
Rubber Tired Gantry Crane Market 2022- USD 975.76 billion
Rubber Tired Gantry Crane Market 2030- USD 1301.87 billion

Major Segments Covered
•Type (8-wheeler, and 16-wheeler)
•Power Supply (Diesel, Electric, and Hybrid)
•Operation (Hydraulic, Electric, and Hybrid)

Key Countries and Regions covered
•North America (US, Canada, and Mexico)
•Europe (UK, Germany, France, Italy, Netherlands, and Rest of Europe)
•Asia Pacific (China, Japan, South Korea, and Rest of APAC)
•Middle east and Africa

Top companies profiled- 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.

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Growth Drivers
Several factors are driving the growth of the Global Rubber Tired Gantry Crane Market.

1) Increasing Demand for Containerized Cargo Transportation
The growing demand for containerized cargo transportation is one of the primary drivers of the Global Rubber Tired Gantry Crane Market. The global container throughput is expected to reach 849 million TEUs (Twenty-foot Equivalent Units) by 2025, up from 802 million TEUs in 2019, according to the Containerization International Yearbook. This growth in container trade is driven by several factors such as globalization, e-commerce, and the shift from breakbulk to containerized cargo.

The RTG cranes are widely used in container terminals for the efficient handling of containers, reducing the turnaround time, and increasing the terminal productivity. Moreover, the increasing containerization of commodities such as food, pharmaceuticals, and chemicals, which require specialized handling, is expected to further boost the demand for RTG cranes.

2) Rising Seaborne Trade
The growth in seaborne trade is another factor fueling the demand for RTG cranes. The seaborne trade is projected to reach 12.8 billion tons by 2025, up from 11.5 billion tons in 2019, according to the United Nations Conference on Trade and Development (UNCTAD). The seaborne trade growth is driven by the increasing demand for raw materials, consumer goods, and energy products, among others.

The RTG cranes are an essential equipment in port operations, enabling the efficient handling of containerized and non-containerized cargo, and facilitating the smooth flow of trade. The increasing seaborne trade is expected to translate into the growth of the Global Rubber Tired Gantry Crane Market.

3) Growing Investments in Port Infrastructure
The increasing investments in port infrastructure is another factor driving the demand for RTG cranes. The global port infrastructure investment is projected to reach USD 126 billion by 2025, up from USD 88 billion in 2019, according to the Global Infrastructure Outlook by the Global Infrastructure Hub. The port infrastructure investment is driven by the need to modernize the existing port facilities, expand the capacity, and enhance the efficiency and sustainability of the ports.

The RTG cranes are an integral part of port infrastructure, providing the necessary lifting and stacking capabilities to handle the cargo efficiently. The growing investments in port infrastructure are expected to drive the demand for RTG cranes, creating opportunities for the market players.

Challenges
Despite the growth prospects, the Global Rubber Tired Gantry Crane Market faces several challenges that need to be addressed for sustained growth. Some of the key challenges are:

1) High Initial Investment
The high initial investment required for the procurement and installation of RTG cranes is one of the major challenges for the market growth. The RTG cranes are capital-intensive equipment, requiring significant investments in the range of USD 1-2 million per crane, depending on the lifting capacity and other features.

Moreover, the operating costs of RTG cranes are also high due to the energy consumption, maintenance, and labor costs. The high investment and operating costs of RTG cranes pose a challenge for the adoption of the equipment, especially for small and medium-sized port operators and logistics centers.

2) Stringent Regulatory Requirements
The stringent regulatory requirements for the operation and maintenance of RTG cranes is another challenge for the market growth. The RTG cranes are subject to various regulations and standards, such as ISO 12480, OSHA, and ILO, among others, which mandate the safety, quality, and environmental performance of the equipment.

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The analysis covers global market and its advancements across different industry verticals as well as regions. It targets estimating the current market size and growth potential of the global market across sections such as also application and representatives.

In an insight outlook, this research report has dedicated to several quantities of analysis - industry research (global industry trends) and global market share analysis of high players, along with company profiles, and which collectively include about the fundamental opinions regarding the market landscape; emerging and high-growth sections of global market; high-growth regions; and market drivers, restraints, and also market chances.

Additionally, the analysis also has a comprehensive review of the crucial players on the global market together side their company profiles, SWOT analysis, latest advancements, and business plans.

Conclusion
The Global Rubber Tired Gantry Crane Market is poised for steady growth in the coming years, driven by the increasing demand for containerized cargo transportation, rising seaborne trade, and growing investments in port infrastructure. However, the market faces several challenges such as high initial investment, stringent regulatory requirements, and the emergence of alternative technologies.

The market players are focusing on product innovation, technological advancements, and strategic partnerships and collaborations to gain a competitive edge in the market. Moreover, the adoption of automation and digitalization technologies such as remote monitoring, predictive maintenance, and artificial intelligence is expected to further enhance the efficiency and productivity of the RTG cranes.

In conclusion, the Global Rubber Tired Gantry Crane Market presents significant growth opportunities for the market players, but they need to address the challenges and leverage the opportunities to achieve sustained growth in the long term.

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