Rubber Tired Gantry Crane Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Power Supply, by Application : Global Opportunity Analysis and Industry Forecast, 2024-2033

Market Introduction and Definition 

Rubber Tired Gantry Crane, called RTG for short, which is used to stack containers in container storage yards. It is a type of crane commonly used in container handling operations at ports and container terminals. RTGs are designed to stack and move containers within container storage yards. Unlike traditional gantry cranes that are fixed to rails, RTGs are equipped with rubber tires, allowing them to move horizontally along predefined paths within the container yard. This flexibility in movement enables efficient transhipment of containers between storage stacks and transport vehicles such as trucks or rail cars. 

Key Takeaways 

• The rubber-tired gantry crane market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period 2024-2033. 

• More than 1,500 product literature, industry releases, annual reports, and other such documents of major rubber-tired gantry (RTG) cranes industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights. 

• The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.

Recent Key Strategies and Developments 

• In August 2023, Konecranes secured a significant order for 7 hybrid Konecranes Noell Rubber-Tired Gantry (RTG) cranes in a collaboration with CMA CGM Kaohsiung Terminal Co. Limited. Konecranes, known for its innovative solutions, partnered with CMA CGM Group to supply 7 hybrid RTGs, reflecting a commitment to advancing container terminal management. 

• In June 2023, Konecranes, a Finnish manufacturer provided six new semi-automated remote-controlled electric rubber-tired gantry cranes (RCeRTGs) to Port of Felixstowe, operated by Hutchison Ports. The RCeRTGs can lift containers 1-over-6 high and span 7 rows and a roadway. They are equipped with remote control technology, allowing operators in a central control room to control the cranes for lift operations to or from carrying vehicles. 

?????Key Market Dynamics 

The global rubber tired gantry crane industry has grown due to increase in container traffic, technological advancements, and environmental concerns. However, high initial investment and limited space & infrastructure restrain the development of the market. In addition, the rise in interest in eco-efficient port handling solutions coupled with advancements in technology is expected to provide ample opportunities for market development during the forecast period. The rubber tired gantry crane market growtho is fueled by increasing investments in port infrastructure and the expansion of existing container handling facilities worldwide.

RTG cranes are designed to handle containers efficiently in container yards. Their flexible mobility allows them to move along predefined paths within the terminal, making them suitable for stacking, sorting, and retrieving containers from storage stacks. The growth of international trade and containerized cargo has led to an increase in container traffic at ports and terminals worldwide. This trend is driven by several factors, including globalization, the expansion of manufacturing & consumer markets, and the development of efficient logistics networks. As a result, ports and terminals have experienced higher volumes of containers, which poses challenges and opportunities for efficient cargo handling. Increasing containerization in maritime trade is a key factor driving the expansion of the rubber tired gantry crane market size.

Market Segmentation 

The rubber tired gantry crane market is segmented into type, power supply, application, and region. On the basis of type, the market is divided into 8 wheeler and 16 -wheeler. As per power supply, the market is segregated into diesel, electric, and hybrid. On the basis of application, the market is classified into construction, oil & gas, shipbuilding, power utilities, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East and Africa) . 

Regional/Country Market Outlook 

The U.S. is one of the major players in global trade, with imports and exports flowing through its ports to and from various countries across the globe. Globalization has facilitated the exchange of goods and services, leading to increased container traffic at U.S. ports. The U.S. is home to numerous manufacturing industries that rely on imported raw materials and components for production. In addition, many U.S. companies operate global supply chains, sourcing materials and products from overseas suppliers. This interconnectedness of manufacturing and supply chains leads to a continuous flow of containerized cargo through U.S. ports.  The rubber tired gantry crane market forecast indicates steady growth driven by advancements in automation and green technologies.

Moreover, ports are investing in sustainable infrastructure and operational efficiency, demonstrating the terminal's commitment to meeting environmental targets. For instance, in March 2023, PSA Halifax, a terminal operator in the Port of Halifax, made a significant investment in expanding its handling capacity and transitioning toward sustainability by ordering eight new electric rubber-tired gantry cranes (E-RTGs) from Konecranes. PSA Halifax aims to increase its handling capacity at the Atlantic Hub terminal by 25% through the purchase of eight new E-RTGs. This investment is part of the terminal's broader expansion plans to accommodate growing volumes of containerized cargo. Moreover, emerging markets in Africa and South America offer substantial rubber tired gantry crane market opportunity due to planned port expansions.

• In March 2023, Ideanomics, subsidiary US Hybrid, and Mi-Jack joined forces to develop a hydrogen-powered rubber-tired gantry crane (RTG) , marking a significant step forward in decarbonizing port operations. The hydrogen-powered RTG crane is expected to utilize a hydrogen fuel cell system sourced from Hyundai Motor Corp. US Hybrid is projected to handle the procurement, engineering, and design work related to the hydrogen propulsion kit, while also manufacturing core components such as hydrogen storage tanks and cooling systems. 

• In September 2022, Port of Felixstowe ordered 17 ARTGs from Konecranes in Q4 2021, marking the first deployment of Konecranes ARTGs in the UK and the first order of Konecranes ARTGs by Hutchison Ports. The order was scheduled for delivery in three phases starting in Q2 2023, with completion and go-live expected by Q4 2025. 

• In October 2022, Port Houston ordered a total of 26 hybrid rubber-tired gantry (RTG) cranes from Konecranes Inc. for its Barbours Cut and Bayport Container terminals, totaling $65.2 million. In addition, three dockside electric container cranes were purchased from Shanghai Zhenhua Heavy Industries Co. for $40.9 million. Fourteen of the RTG cranes are expected to be deployed at Barbours Cut, while 12 are projected to be allocated to the Bayport terminal. The electric container cranes is expected to serve wharves two, five, and six at the Bayport Container Terminal. 

Competitive Landscape 

The major players operating in the rubber tired gantry crane industry include Anupam Industries Limited, Electromech Material Handling Systems (India) Pvt. Ltd., Cargotec, Konecranes, Liebherr-International Deutschland GmbH, Mi-Jack, Reva Industries Limited, SANY Group, Shanghai Zhenhua Heavy Industries Co., Ltd., and TNT Crane & Rigging. Leading manufacturers are continuously innovating to maintain and expand their rubber tired gantry crane market share in the competitive industry.

Industry Trends: 

• In March 2023, Georgia Ports Authority (GPA) announced to invest $170 million to upgrade the Ocean Terminal into an all-container facility. This investment is part of a larger effort to enhance the terminal's capacity and operational efficiency.  

• In February 2021, Kalmar, a part of Cargotec, announced an agreement with Companhia Siderúrgica Nacional (CSN) to supply nine Kalmar Rubber-Tired Gantry Cranes (RTGs) to Sepetiba Tecon terminal in Rio de Janeiro, Brazil.  

Key Sources Referred 

1. World Cargo News 

2. Port Technology International 

3. International Cranes & Specialized Transport 

4. Crane Industry Council of Australia (CICA)  

5. European Association of Abnormal Road Transport and Mobile Cranes (ESTA)  

6. Specialized Carriers & Rigging Association (SC&RA)  

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the rubber tired gantry crane market analysis from 2024 to 2033 to identify the prevailing market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the rubber tired gantry crane market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global rubber tired gantry crane market trends, key players, market segments, application areas, and market growth strategies.