The rubber tired gantry crane market was valued at US$ 907. 79 million in 2019 and is projected to reach US$ 1,168. 17 million by 2027; it is expected to grow at a CAGR of 3. 67% from 2020 to 2027.
New York, July 17, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rubber Tired Gantry Crane Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type, Power Supply" - https://www.reportlinker.com/p05932686/?utm_source=GNW
A rubber tire gantry (RTG) crane is a type of mobile machinery used for moving and stacking storage containers found in container ports.Its main components include crane frame, power transmission system, lifting mechanism, crane traveling mechanism, trolley traveling mechanism, and telescopic spreader.
The trolley is equipped with a lifting tool and moves along its track set on the main beams to load, unload, and stack containers.The crane with tires travels around the stockyard, or other workplaces, and moves flexibly from one work site to another.
With its flexibility and smooth movement, it is commonly used in stockyards and other places where box-shaped storage containers are used, and the crane can lift and move the containers from one place to another quickly and safely.
Based on type, the rubber tired gantry crane market is categorized into 8-wheeler and 16-wheeler.In 2019, the 8-wheeler segment dominated the rubber tired gantry crane market.
The demand for rubber tired gantry cranes is constantly rising.There are two types for each model-the 8W and 8WA for the 8-wheeler, and the 16W and 16WA for the 16-wheeler.
The main differences between the two models are the design of the anti-sway system and the number of gantry wheels.The 16-tired RTG cranes require a larger travel area.
Therefore, they cannot be used in tiny spaces, while 8-tired RTG cranes are preferred in smaller spaces.
Geographically, the rubber tired gantry crane market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.Europe held the largest share of the global rubber tired gantry crane market, followed by Asia Pacific and North America, in 2019.
Europe’s ports have adopted electric RTGs for reducing pollution and greenhouse gas emissions.Government regulations in this region have enabled the adoption of electrical container handling equipment, such as carbon emission verification in maritime transportation.
Also, financial transparency regarding port investments has enabled port authorities to invest strategically in port infrastructure.European nations rank among the leading importers and exporters of commodities and goods.
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. Europe ranks first in trading owing to which the region leads the global market for rubber tired gantry cranes.
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) are among the major players present in the global rubber tired gantry crane market.
Impact of COVID-19 Pandemic on Rubber Tired Gantry Crane Market
COVID-19 outbreak, which began in Wuhan (China) in December 2019, has rapidly spread across the globe.It has severely affected China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US, in terms confirmed positive cases and reported deaths as of March 2020.
The COVID-19 outbreak has affected economies and industries in various countries as it has resulted in lockdowns, travel bans, and business shutdowns. The overall market breakdown due to COVID-19 is also affecting the growth of the rubber tired gantry crane market due to factory shutdowns, disrupted supply chain, and downturned global economy.
The overall size of the global rubber tired gantry crane market has been derived in accordance to primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the rubber tired gantry cranes.
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