With the emergence and long-term Impact of COVID-19, Global Yard Crane Market to reach USD 2.52 billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Yard Crane Market points towards a potential rise to USD 2.52 billion by 2030. A yard crane, often referred to as a container yard crane or a Rubber-Tired Gantry Crane (RTG), is a specialized heavy-duty piece of material handling equipment used in various industrial settings, particularly in shipping ports, intermodal terminals, and container yards. Its primary function is to handle cargo containers efficiently and precisely, typically the large metal boxes used for transporting goods on ships or trucks. The Yard Crane Market is expanding because of factors such as growing international trade and globalization, increasing development of new ports, terminals, and the rise of containerization in the shipping industry.
Geographically, the global Yard Crane market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022 owing to increase in volume of trade and shipping activities, significant investments in port expansion and modernization, and rising infrastructure development projects in the region. North America is expected to grow significantly over the forecast period, owing to factors such as increased logistics and transportation industry, rising development of ports and shipment industry in the region.
The global Yard Crane market is highly competitive owing to the presence of several key players such as Andritz AG Cargotec Corporation Kato Works Co., Ltd. Kobelco Construction Machinery Co., Ltd. Konecranes PLC LIEBHERR Group Palfinger AG SANY Group Tadano Ltd. Terex Corporation, and others.
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Key findings of the study suggest:
- Global Yard Crane Market is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2023-2030.
- In the Product segment, Rubber-tired Gantry Cranes emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to rising infrastructure development projects in the region.
- North America is expected to grow at higher rate owing to growing logistics and transportation industry in the region
Bizwit Research & Consulting has considered following segments for the study:
- Rubber-tired Gantry Cranes (RTGs)
- Rail-mounted Gantry Cranes (RMGs)
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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