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

Yard Crane Market was valued at USD 742.8 million in 2022 and is estimated to register a CAGR of 5.3% between 2023 and 2032. Increasing investments in replacing rail-mounted gantry cranes are driving growth in the yard crane industry. Port facilities, aiming to enhance efficiency and accommodate larger cargo volumes, are upgrading their equipment. For instance, in February 2022, Gateway Terminals India Pvt. Ltd., a subsidiary of APM Terminals Management BV, invested USD 115 million to replace quay cranes and rail-mounted gantry cranes at its Jawaharlal Nehru Port Authority facility. This investment aligns with the conditions outlined in the 30-year concession agreement signed between GTI and the state-run port.

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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.

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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 escalating import of yard cranes is cultivating a highly lucrative growth trajectory for the yard crane industry. Increased international trade demands advanced cargo handling equipment, propelling the demand for specialized yard cranes globally. For instance, in October 2023, Officials at Vizhinjam International Seaport in Thiruvananthapuram (India) effectively unloaded two rail-mounted gantry cranes from the Zhen Hua 15 project vessel docked at the port. The State Government of Kerala (India) granted permission to import these cranes in May 2023, leading to their successful arrival and unloading at the port. This surge in imports signifies a robust market demand, fostering substantial growth opportunities for manufacturers and stakeholders in the yard crane industry.

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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Based on type, the market is divided into Rubber-Tired Gantry (RTG) cranes and Rail-Mounted Gantry (RMG) cranes. In 2022, the Rubber-Tired Gantry (RTG) cranes segment held a market share of over 74%. Partnerships are driving large enterprises forward in the market. The adoption of fuel-efficient hybrid engine yard cranes is driving the growth of RTG cranes in the yard crane industry. These innovative cranes significantly reduce fuel consumption, making them environmentally friendly and cost-effective choices for port & terminal operations. For instance, in March 2023, The Georgia Ports Authority (U.S.) allocated USD 170 million to acquire 55 hybrid engine rubber-tired gantry cranes for the redevelopment of Savannah Port’s Ocean terminal into an all-container facility. This move is expected to slash fuel consumption by approximately 47% compared to using all-diesel machines. This reduction translates to 8,800 gallons less diesel per crane annually across the ocean terminal fleet.

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Asia Pacific led the global yard crane market with a major share of over 40% in 2022. The regional market is driven by rapid urbanization and expanding industrialization, demanding efficient cargo handling in ports. Increasing international trade activities, especially in major economies such as China & India, fuel the demand for high-capacity yard cranes. Government investments in port infrastructure and ongoing infrastructure projects further enhance the Asia Pacific market. Additionally, the adoption of advanced technologies, such as automation & electrification, enhances the productivity of yard cranes, making them essential in managing large volumes of goods exchanged in the region's bustling trade networks.

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