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Rubber Tired Gantry Crane Market: Industry Insights & Trends | 2024 To 2033 Key Players Anupam Industries Limited, KONE Corporation, Liebherr-International AG, Konecranes and Demag Private Limited.
Rubber Tired Gantry Crane Market Share
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According to The Business Research Company's, 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 in the historic period can be attributed to containerized cargo, growth of container terminals, port modernization and expansion, 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 growth in the forecast period can be attributed to energy efficiency and environmental concerns, expansion of e-commerce, port infrastructure investments, global trade growth, remote operation and connectivity, hybrid and alternative power sources. Major trends in the forecast period include smart ports and digitalization, telematics and remote monitoring, augmented reality (ar) and virtual reality (vr) testing, remote diagnostics and testing, compatibility with electric and autonomous, ai-powered testing.
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Market Drivers and Trends:
An increase in seaborne trade is expected to propel the growth of the rubber tired gantry crane market going forward. A rubber-tired gantry crane is a moving gantry crane commonly used in seaports for loading, unloading, and stacking containers that allow easy handling of cargo in the seaborne trade. So, an increase in seaborne trade has increased the use of rubber-tired gantry cranes in seaports for easy handling of heavy containers used in shipping via water. For instance, according to the . International Maritime Trade report, In 2022, the volume of international seaborne trade will reach 12,027 million tons. Therefore, the increase in seaborne trade is driving the growth of the rubber tired gantry crane market.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
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, Tereex 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.
Rubber Tired Gantry Crane Market 2024 Key Insights:
• 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%.
• Seaborne Trade Expansion Fuels Growth Of Rubber-Tired Gantry Crane Market
• Technological Advancements Drive Innovation In The Rubber Tired Gantry Crane Market
• Asia-Pacific was the largest region in the rubber tired gantry crane market in 2023
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