Rubber Tired Gantry Crane Market Size, Trends and Growth Analysis by 2027

The rubber tired gantry crane sector was valued at approximately US$ 907.79 million in 2019 and is anticipated to grow to US$ 1,168.17 million by 2027, reflecting a compound annual growth rate (CAGR) of 3.67% from 2020 to 2027.

A rubber tire gantry (RTG) crane is a specialized mobile machine designed for the transportation and stacking of storage containers at container terminals. Its primary components consist of a crane frame, a power transmission system, a lifting mechanism, a crane traveling mechanism, a trolley traveling mechanism, and a telescopic spreader. The trolley, which is fitted with a lifting tool, traverses along tracks mounted on the main beams to facilitate the loading, unloading, and stacking of containers. The crane, equipped with tires, can navigate around stockyards and various work sites, allowing for flexible movement from one location to another. This adaptability and smooth operation make it a preferred choice in stockyards and other environments where box-shaped storage containers are utilized, enabling quick and safe lifting and relocation of containers.

The rubber tired gantry crane market is divided into two main categories based on type: 8-wheeler and 16-wheeler models. In 2019, the 8-wheeler segment led the market. The demand for these cranes continues to rise, with each model available in two variations: the 8W and 8WA for the 8-wheeler, and the 16W and 16WA for the 16-wheeler. The primary distinctions between these models lie in the design of their anti-sway systems and the number of gantry wheels. The 16-wheeler RTG cranes necessitate a larger operational area, making them unsuitable for confined spaces, whereas the 8-wheeler models are favored for their ability to operate in tighter environments.

Geographically, the rubber tired gantry crane market is segmented into several regions: North America, Europe, Asia Pacific, South America, and the Middle East and Africa. In 2019, Europe held the largest market share, followed by Asia Pacific and North America. European ports have increasingly adopted electric RTGs to mitigate pollution and reduce greenhouse gas emissions. Regulatory measures in this region have facilitated the integration of electric container handling equipment, including carbon emission verification in maritime transport. Furthermore, financial transparency regarding port investments has allowed port authorities to make strategic investments in infrastructure. European countries are among the top importers and exporters of various goods, including machinery, vehicles, aircraft, fuels, nonferrous metals, textiles, chemicals, clothing, and crude oil. This robust trading activity positions Europe as a leader in the global rubber tired gantry crane market.

Key players in the global rubber tired gantry crane market include Anupam Industries Limited, Electromech Material Handling Systems (India) Pvt. Ltd., Kalmar, Konecranes, Liebherr, Mi-Jack Products, Reva Industries Ltd., Sany Group, and Shanghai Zhenhua Heavy Industries Co., Ltd. (ZPMC).

Impact of the COVID-19 Pandemic on the Rubber Tired Gantry Crane Market

The COVID-19 pandemic, which originated in Wuhan, China, in December 2019, has rapidly spread worldwide, significantly impacting countries such as China, Italy, Iran, Spain, South Korea, France, Germany, and the United States by March 2020. The pandemic has disrupted economies and industries globally, leading to lockdowns, travel restrictions, and business closures. Consequently, the rubber tired gantry crane market has also experienced setbacks due to factory shutdowns, supply chain disruptions, and a downturn in the global economy.

The overall size of the global rubber tired gantry crane market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants and experts to validate the findings and gain deeper analytical insights. Participants typically include industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in rubber tired gantry cranes.