Rubber Tyre Gantry Crane Market Size

Rubber Tyre Gantry Crane Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The market for rubber-tired gantry cranes is expected to be worth $ 4.09 billion in 2023 and is projected to reach $ 5.80 billion by 2032, at a CAGR of 4.36% from 2024 to 2032. This growth indicates a steady demand for these cranes, driven by the need for efficient cargo handling in ports and intermodal terminals. The rise in international trade and the development of container shipping are also major contributors to this market’s growth, as they need efficient material handling solutions to enhance their operational efficiency. The integration of automation and the Internet of Things in rubber-tired gantry cranes is expected to further drive the market. These innovations not only improve the efficiency of the cranes but also increase their safety and reduce their labor costs. These developments have prompted the leading players in the market, such as Konecranes, Liebert, and Terex, to increase their R&D expenditures to come up with more advanced and eco-friendly cranes. Strategic alliances and the introduction of new products, which focus on improving performance and sustainability, are also shaping the competitive landscape, thereby strengthening the rubber-tired gantry crane market and ensuring that it remains responsive to changing industry requirements.

Regional Market Size

Regional Deep Dive

The market for rubber-tyred gantry cranes (RTGC) is growing in several regions of the world, mainly due to the increasing demand for efficient container handling in ports and terminals. The market dynamics are influenced by technological advances, growing world trade and the need for automation in the logistics industry. The market characteristics vary according to the level of development of the port and terminal infrastructures, regulatory frameworks and economic conditions.

North America

• The automation of the American market is advancing rapidly. Konecranes and Terex have developed advanced RTGC systems which are very much to the advantage of the mining companies.
• Regulations aimed at reducing emissions are forcing ports to adopt cleaner technology, and the Clean Air Action Plan of the Port of Los Angeles is influencing the development of electric RT-GCTs.
• RTGCs are also in demand in the United States. With the expansion of intermodal terminals, especially in the midwest, logistics companies are looking to optimize container handling and reduce turn-around times.

Europe

• The use of RTGCs has been a subject of innovation in Europe, and Liebherr and Kalmar are now introducing smart cranes, which are fitted with IoT devices, in order to improve the operational efficiency and safety of cranes.
• A tightening of the regulations relating to noise and exhaust emissions in the European Union is driving ports to invest in electric rtgcs, and Rotterdam’s electrification programme is a world example.
• The digitalization of logistics is increasingly being pushed by the integration of RTGCs with advanced software solutions that improve the real-time monitoring and the ability to forecast maintenance needs.

Asia-Pacific

• The region of Asia-Pacific is in the process of a rapid industrialization and urbanization, and China and India have invested heavily in port development, thus promoting the demand for RTGCs.
• Recent government initiatives such as China’s One Belt, One Road initiative have boosted trade and transport, leading to an increase in container traffic and a consequent rise in the adoption of RTGCs.
• The new technology of automation and robotization has been mastered by ZPMC and SANY. It is used in the new generation of RTGs to achieve higher efficiency and lower cost.

MEA

• The Middle East and Africa region is witnessing significant investments in port facilities, including the expansion of the Port of Jebel Ali in Dubai.
• ‘Saudi Arabia’s Vision 2030 aims to diversify its economy, which is driving logistics and transport investment and thus the RTGC market.
• The region's unique geographical position as a trade crossroads between Europe, Asia and Africa increases the need for efficient container handling solutions, thereby encouraging the ports to modernize their equipment.

Latin America

• Brazil and Chile have both adopted RTGC to improve the handling of containers and reduce congestion.
• The rapid growth of e-commerce in the region has increased the demand for speedy logistics, and has led to the ports adopting a system of rtgcs to handle the growing number of containers.
• Brazil’s Law on Port Reform, aimed at improving the port’s facilities, is enabling the purchase of new equipment, including a few RTGCs, in order to support economic growth.

Did You Know?

“Those rubber-tired gantry cranes, capable of lifting 40 tons, and of handling containers stacked six high, are indispensable in port operations.” — International Maritime Organization (IMO)

Segmental Market Size

The rubber-tyred gantry crane (RTGC) market plays a vital role in the logistics and shipping industry, especially in the handling of containers at ports and intermodal terminals. It is currently growing steadily as a result of the growing volume of world trade and the need for efficient transportation of goods. The growth of container shipping and automation in port operations, which increases productivity and reduces costs, are the main driving forces of the market.

The RTGC is already being used in large numbers, and Konecranes and ZPMC have already successfully deployed their advanced models in the major ports of Rotterdam and Shanghai. The main applications are for stacking, loading and unloading containers. The efficiency and speed of operations are crucial. Green trends and government regulations are accelerating the pace of growth, as RTGCs are increasingly being designed to be energy-efficient and reduce emissions. In addition, IoT and AI are influencing the sector, with their potential to enhance predictive maintenance and smarter operations.

Future Outlook

The rubber-tyred gantry crane market will grow steadily from 2023 to 2032, with a market value of 3.1 billion to 4.3 billion, a compound annual growth rate of 3.96%. This is mainly due to the increasing demand for efficient and flexible container handling equipment in ports and intermodal terminals. As the world's trade continues to develop, the need for advanced equipment that can operate in various conditions will increase. The rubber-tired gantry crane is a crane that can be used in many different ways. The use of rubber-tyred gantry cranes in major ports is expected to increase significantly in the next 10 years, and by 2032 the number of rubber-tyred gantry cranes will account for about 25% of the total cranes in container terminals, compared with about 18% in 2023.

Several new developments in automation and IoT, such as the RTGCs, will make them safer and more efficient. These innovations not only improve the process, but also reduce costs and energy consumption, and contribute to the world's sustainability goals. Moreover, supportive government policies that support the modernization of port facilities and the development of green technology will also stimulate market growth. In addition, the trend of RTGCs using electricity and the use of IoT to predict maintenance will also play an important role in the development of the market. The RTGC market is expected to evolve with the growing needs of the market for efficiency and sustainability.