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Rail Mounted Gantry (RMG) Crane Market Analysis By Lift Capacity (0-40 Tons, 40.1 & Above Tons), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2014 - 2025

Rail Mounted Gantry (RMG) Crane Market Analysis By Lift Capacity (0-40 Tons, 40.1 & Above Tons), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2014 - 2025

  • May 2017
  • 61 pages
  • ID: 4946469

Summary

Table of Contents

The global rail mounted gantry (RMG) crane market is expected to reach USD 399.7 million by 2025, according to a new study by Grand View Research, Inc. The increasing global trade, vessel sizes, and port investments are the primary factors driving the market.

The growth of marine transport has compelled ship owners to introduce large-sized vessels that are capable of transporting a large number of containers simultaneously. Such factors are also pressurizing port operators to improve their existing facilities for catering the increasing number of large-sized vessels.

The growing trade activities across Asia Pacific and Middle East & Africa (MEA) regions are anticipated to increase transshipments. The growth in transshipments is expected to propel the need of bigger vessels, so that it becomes easier to transport more number of containers between two ports at a time. Thus, driving the need of cranes that can handle large number of containers, at a much faster speed.

RMG cranes are popular as ideal choices, owing to stringent government regulations pertaining to pollution control, as they are environment-friendly and are capable of running entirely on electricity. Moreover, the incorporation of intelligent systems, such as container positioning system, non-contact anti-collision system, and remote operation, in RMG cranes has enabled port authorities to reduce operational hazards and attain operational efficiency.


Further key findings from the study suggest:
• The 0 - 40 tons segment dominated the overall market in 2016. However, the 40.1 & above tons segment is expected to reach the highest market share by 2025 and is expected to grow at the highest CAGR of 4.6% over the forecast period.
• Instances, such as increase in vessel size and expansion of Panama Canal, are expected to propel the demand for RMG cranes (with higher lift capacity)
• The European market occupied a significant share in the global market and is expected to grow at a CAGR of 3.0% over the coming years
• The Asia Pacific regional market is presumed to emerge as the fastest-growing market with USD 155.6 million by 2025
• Chinese companies are making huge investments on port developments (local and global). In 2017, the Chinese government announced its plan to invest USD 50 billion in Brazilian port infrastructure.
• The key industry participants include Anupam Industries Limited, Konecranes Plc, Doosan Heavy Industries Vietnam Co., Shanghai Zhenhua Heavy Industries Co., Ltd., Mi-Jack Products, MAC PORT-Macchine Operatrici Portuali s.r.l., SANY GROUP, Terex Corporation, TNT Crane & Rigging, and Liebherr Group

Please note: this report requires certain updates. We have all the information available but require 2 working days business days to complete the process and ensure it is as up-to-date as possible.


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