Yard Crane Market - By Type (Rubber-Tired Gantry (RTG) Cranes, Rail-Mounted Gantry (RMG) Cranes), By Application (Shipping Yard, Port, Rail Yard, Container Handling Facilities) & Forecast, 2023 - 2032

Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Construction | Format: Report available in PDF / Excel Format

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Yard Crane Market - By Type (Rubber-Tired Gantry (RTG) Cranes, Rail-Mounted Gantry (RMG) Cranes), By Application (Shipping Yard, Port, Rail Yard, Container Handling Facilities) & Forecast, 2023 - 2032

Yard Crane Market Size

Imagine thisYou're at a port, watching the towering yard cranes effortlessly lift and move cargo. Behind the scenes, a remarkable shift is underway. In 2022 alone, the value of the yard crane industry reached a staggering $742.8 million. And guess what? It's only expected to grow at a steady 5.3% pace over the next decade. Why the surge? It's all about a smarter, more efficient way of doing things. Ports are ditching traditional rail-mounted gantry cranes in favor of yard cranes. It's like giving your port a technological upgrade. With yard cranes, ports can handle larger volumes of cargo, faster and more smoothly. Take Gateway Terminals India, for example. In 2022, they invested a whopping $115 million to swap out their old cranes for new yard cranes at their Jawaharlal Nehru Port Authority facility. That's a clear sign that ports are all in on this game-changing equipment.

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The widespread adoption of containerization in the global cargo industry has necessitated specialized yard cranes designed for efficient container handling. As businesses increasingly rely on standardized container units for transportation, the demand for yard cranes capable of precise loading, unloading & stacking of containers has surged. This trend has become a driving force for the global market expansion, compelling manufacturers to innovate and develop advanced crane technologies that align with the specific requirements of modern containerized logistics, thereby enhancing operational efficiency and productivity.

Yard Crane Market Report Attributes
Report Attribute Details
Base Year 2022
Yard Crane Market Size in 2022 USD 742.8 Million
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 5.3%
2032 Value Projection USD 1.24 Billion
Historical Data for 2018 to 2022
No. of Pages 200
Tables, Charts & Figures 154
Segments covered Type, Application
Growth Drivers
  • Growing adoption of containerization in the cargo industry
  • Increasing growth in international trade activities
  • Innovation in crane technology
  • Rising popularity of environmental-friendly yard cranes
Pitfalls & Challenges
  • The substantial upfront cost associated with purchasing and installing advanced yard cranes
  • Stringent environmental compliance

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The high initial investment required for purchasing and installing advanced yard cranes stands as a significant hurdle for many businesses, particularly smaller ports & terminals. This financial barrier often delays or deters the adoption of efficient crane systems, hindering the overall market growth, especially among organizations with limited budgets or in developing regions.

COVID-19 Impact

The COVID-19 pandemic had negatively impacted the yard crane market. Disruptions in the global supply chain, reduced trade activities, and project delays have led to decreased investments in port infrastructure. Many ports and terminals faced operational slowdowns or closures, affecting the demand for new yard cranes. Additionally, financial uncertainties and budget constraints among businesses have hindered their ability to invest in expensive crane systems, further impeding market growth during the pandemic period.

Yard Crane Market Trends

The business of building and selling cranes for shipping yards is booming because more and more of these cranes are being brought into the country. As international trade grows, so does the need for better ways to handle cargo, and that means more demand for these specialized cranes. For example, in October 2023, the Vizhinjam International Seaport in Thiruvananthapuram, India, got two new rail-mounted gantry cranes. They came from China on the Zhen Hua 15 project vessel. The Kerala State Government in India had given permission to bring in these cranes in May 2023, and they were able to be unloaded at the port without any problems. These new cranes show that there is a strong demand for them in the market, which means that companies that make and sell them will have a lot of opportunities to grow.

The expanding global trade is a major factor driving the market growth. Rising international trade activities have led to higher cargo volumes, necessitating efficient handling at ports and terminals. Yard cranes, crucial for loading and unloading containers, are in high demand to accommodate this growth. Ports worldwide are investing in advanced crane technology to streamline operations, thereby enhancing the market for yard cranes.

Yard Crane Market Analysis

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Based on application, the market is categorized into shipping yards, ports, rail yards, and container handling facilities. In 2022, the ports segment held major market share in yard carne market. The ongoing expansion and modernization of port infrastructure represent a driving force in the yard crane market. Ports worldwide are enhancing their facilities to effectively accommodate larger vessels and handle increasing cargo volumes. Upgrading quay walls, berths, and storage yards necessitates the deployment of advanced yard cranes such as Rubber-Tired Gantry (RTG) & Rail-Mounted Gantry (RMG) cranes. These developments align with the demand for efficient cargo handling, prompting the adoption of innovative yard crane technologies in ports, thereby fueling market growth.

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The market for these cranes has two main typesRubber-Tired Gantry (RTG) cranes and Rail-Mounted Gantry (RMG) cranes. In 2022, the RTG cranes ruled the market, with a whopping 74% share. Big companies are teaming up to grow the market because it's a smart move. And for RTG cranes, the future is bright with the rise of hybrid engines that sip fuel. These cranes are like a breath of fresh air for port and terminal operations because they use less fuel, which means they're better for the environment and the wallet. Just take The Georgia Ports Authority, for example. In March 2023, they dropped a cool $170 million on 55 hybrid RTG cranes to turn Savannah Port's Ocean terminal into a container paradise. This switch means they'll use about 47% less fuel than if they were using all diesel machines. That's like saving over 8,800 gallons of diesel per crane every year – a huge win for the planet and their pockets!

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Asia Pacific has been dominating the world's market for yard cranes, accounting for more than 40% in 2022. Why? Because cities are growing like crazy and industries are booming, which means ports need to efficiently move cargo. Countries like China and India are trading more internationally, which has led to a demand for bigger yard cranes that can handle more stuff. Governments are also putting money into ports and other infrastructure projects, which helps the Asia Pacific market even more. Plus, new technology like automation and electric power make yard cranes more productive, which is a must-have for handling the huge amounts of goods that flow through the region's busy trade routes.

Yard Crane Market Share

Major players operating in the yard crane industry are

  • Anhui Heli Co., Ltd.
  • Cargotec Corporation
  • CVS Ferrari S.p.A.
  • Gottwald Port Technology GmbH
  • Hoist Liftruck Mfg., Inc.
  • Hyster-Yale Materials Handling, Inc.
  • Hyundai Heavy Industries Co., Ltd.
  • KION Group
  • Konecranes
  • Liebherr Group
  • Mitsubishi Heavy Industries
  • SANY Group
  • Shanghai Zhenhua Heavy Industries (ZPMC)
  • Terex Corporation
  • Toyota Industries Corporation

ZPMC and Konecranes are the major market players operating in the yard crane business. The yard crane market is highly competitive with major players focusing on technological advancements, global expansion, and strategic partnerships. Continuous innovation, product diversification, and superior customer service are crucial factors in maintaining a competitive edge in the industry.

Yard Crane Industry News

  • In May 2023, DP World, the concessionaire for the South Pier of the Callao port, announced plans to invest USD 350 million in its expansion project. The expansion includes the addition of three new dock gantry cranes, four new Rubber-Tired Gantry (RTG) cranes, twelve new electric RTGs for the yard, and twenty electric internal trucks.

The yard crane market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and shipment (Units) from 2018 to 2032, for the following segments

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Market, By Type

 

  • Rubber-Tired Gantry (RTG) Cranes
  • Rail-Mounted Gantry (RMG) Cranes

Market, By Application

  • Shipping Yards
  • Ports
  • Rail Yards
  • Container Handling Facilities

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Southeast Asia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • UAE
    • South Africa
    • Saudi Arabia

 

 

Table of Content

Report Content

Chapter 1   Methodology & Scope

1.1   Market definitions

1.2   Base estimates & calculations

1.3   Forecast calculation

1.4   Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1   Paid sources

1.4.2.2   Public sources

Chapter 2   Executive Summary

2.1   Yard Crane market 360º synopsis, 2018 - 2032

2.2   Regional trends

2.3   Type trends

2.4   Application trends

Chapter 3   Yard Crane Industry Insights

3.1   Impact of COVID-19

3.2   Impact of Russia-Ukraine war

3.3   Industry ecosystem analysis

3.4   Vendor matrix

3.5   Profit margin analysis

3.6   Technology & innovation landscape

3.7   Patent analysis

3.8   Key news and initiatives

3.9   Regulatory landscape

3.10   Impact forces

3.10.1   Growth drivers

3.10.1.1    The rising adoption of containerization in cargo industry

3.10.1.2    Increasing growth in international trade activities

3.10.1.3    Innovations in crane technology

3.10.1.4    Rising popularity of environment friendly yard cranes

3.10.2   Industry pitfalls & challenges

3.10.2.1    The substantial upfront cost associated with purchasing and installing advanced yard cranes

3.10.2.2    Stringent environmental compliance

3.11   Growth potential analysis

3.12   Porter’s analysis

3.13   PESTEL analysis

Chapter 4   Competitive Landscape, 2022

4.1   Introduction

4.2   Company market share, 2022

4.3   Competitive analysis of major market players, 2022

4.3.1    HHMC Qingdao

4.3.2    Kalmar

4.3.3    Konecranes

4.3.4    Liebherr Container Cranes

4.3.5    Mitsubishi Logisnext

4.3.6    Mitsui E&S

4.3.7    ZPMC

4.4   Competitive positioning matrix, 2022

4.5   Strategic outlook matrix, 2022

Chapter 5   Yard Crane Market Estimates & Forecast, By Type (Revenue & Shipment)

5.1   Key trends, by type

5.2   Rubber-tired gantry (RTG) crane

5.3   Rail-mounted gantry (RMG) crane

Chapter 6   Yard Crane Market Estimates & Forecast, By Application (Revenue & Shipment)

6.1   Key trends, by application

6.2   Shipping yard

6.3   Yard

6.4   Rail yard

6.5   Container handling facilities

Chapter 7   Yard Crane Market Estimates & Forecast, By Region (Revenue & Shipment)

7.1   Key trends, by region

7.2   North America

7.2.1    U.S.

7.2.2    Canada

7.3   Europe

7.3.1    UK

7.3.2    Germany

7.3.3    France

7.3.4    Italy

7.3.5    Russia

7.4   Asia Pacific

7.4.1    China

7.4.2    India

7.4.3    Japan

7.4.4    South Korea

7.4.5    Australia

7.4.6    Southeast Asia

7.5   Latin America

7.5.1    Brazil

7.5.2    Mexico

7.5.3    Argentina

7.6   MEA

7.6.1    UAE

7.6.2    South Africa

7.6.3    Saudi Arabia

Chapter 8   Company Profiles

8.1   Anhui Heli Co., Ltd.

8.2   Cargotec Corporation (Kalmar and Hiab)

8.3   CVS Ferrari S.p.A.

8.4   Gottwald Port Technology GmbH (Part of Demag Cranes)

8.5   Hoist Liftruck Mfg., Inc.

8.6   Hyster-Yale Materials Handling, Inc.

8.7   Hyundai Heavy Industries Co., Ltd.

8.8   KION Group (Linde Material Handling)

8.9   Konecranes

8.10   Liebherr Group

8.11   Mitsubishi Heavy Industries

8.12   SANY Group

8.13   Shanghai Zhenhua Heavy Industries (ZPMC)

8.14   Terex Corporation

8.15   Toyota Industries Corporation

   

  • Anhui Heli Co., Ltd.
  • Cargotec Corporation
  • CVS Ferrari S.p.A.
  • Gottwald Port Technology GmbH
  • Hoist Liftruck Mfg., Inc.
  • Hyster-Yale Materials Handling, Inc.
  • Hyundai Heavy Industries Co., Ltd.
  • KION Group
  • Konecranes
  • Liebherr Group
  • Mitsubishi Heavy Industries
  • SANY Group
  • Shanghai Zhenhua Heavy Industries (ZPMC)
  • Terex Corporation
  • Toyota Industries Corporation

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