Market Highlights
The Global Rubber Tyre Gantry Crane Market is expected to witness sustainable growth during the forecast period owing to the expanding seaborne trade, which has further increased the demand for rubber tyre gantry cranes worldwide. Additionally, the increase in population and the growth of emerging economies propel the demand for seaborne trading, which is expected to drive the growth of the global rubber tyre gantry crane market during the forecast period.
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The Global Rubber Tyre Gantry Crane Market size was valued at USD 814.4 Billion in 2018, which is expected to witness 4.6% CAGR during the forecast period.
Asia-Pacific is Expected to Witness the Fastest Growth in the Rubber Tyre Gantry Crane Market During the Forecast Period: MRFR
Based on region, the rubber tyre gantry crane market is segmented into Asia-Pacific, the Middle East & Africa, North America, Europe, and South America. Asia-Pacific accounted for the largest market share, followed by North America and Europe, which is expected to witness the fastest growth rate during the forecast period. This can be attributed to the rise in the number of shipping and seaborne trade activities in Asia-Pacific, which has further boosted the market growth. China is one of the leading countries in the region. The growth of China’s GDP at a rate of 6.9% in 2017 has a positive impact on shipping and maritime trade, especially for dry bulk shipping. A sharp increase in iron ore imports to China, a rebound in the global coal trade, and improved growth in minor bulk trades support the expansion. Overall, the strong import demand in China remained the main factor behind the growth of the seaborne trade in this region. Such factors cumulatively drive the growth of the market for rubber tyre gantry cranes in the country.
The Middle East & Africa is anticipated to be the fastest-growing region in the overall rubber tyre gantry crane market. The growth potential of the mining industry in this region is significant, which further fuels the growth of rubber tyre gantry crane market in this region.
By type, the global market has been divided into 8-wheeler and 16-wheeler. By power, the global rubber tyre gantry crane market is segmented into diesel, electric, and hybrid. The hybrid segment is expected to witness the fastest growth rate in the global market during the forecast period.
Global Rubber Tyre Gantry Crane Market, 2018–2025 (USD Million)
Source: MRFR Analysis
Scope of the Report
This study provides an overview of the Global Rubber Tyre Gantry Crane Market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global rubber tyre gantry crane market by type, application, and region.
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- By Type
- 8-wheeler
- 16-wheeler
- By Power
- Diesel
- Electric
- Hybrid
- By Region
- North America
- Asia-Pacific
- Europe
- Middle East & Africa
- South America
Key Players
The Prominent Players operating in the Global Rubber Tyre Gantry Crane Market are SANY GROUP, KoneCrane, Liebherr, Anupam Industries Limited, Cargotec-Kalmar, Shanghai Zhenhua Heavy Industries Co., Ltd., ElectroMech Material Handling Systems Pvt. Ltd., Mi-Jack Products, and TNT Crane & Rigging.
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