Global Rail Mounted Gantry Crane Market Projected to Reach US$ 442.3 Million by 2028, Driven by Increasing Demand for Environmentally Friendly Solutions

DUBLIN, Nov. 22, 2023 /PRNewswire/ -- The "Rail Mounted Gantry Crane Market by Type, Lift Capacity, Technology, Application, and Region 2023-2028" report has been added to  ResearchAndMarkets.com's offering.

The global rail mounted gantry crane market exhibited strong growth in 2022, reaching a valuation of US$ 349.65 million. Looking ahead, the market is poised to expand further, with projections indicating a valuation of US$ 442.3 million by 2028, supported by a steady CAGR of 4% during the period of 2022-2028. Several key factors are driving this growth, including the rising demand for environmentally friendly rail mounted gantry (RMG) cranes, extensive research and development (R&D) activities leading to technologically advanced RMG cranes, and the implementation of government initiatives.

Rail Mounted Gantry Cranes: Pioneers in Cargo Handling

Rail mounted gantry (RMG) cranes are large industrial overhead cranes designed for cargo loading and unloading. These cranes encompass various components, including steel structures, spreaders, anti-sway systems, crane traveling mechanisms, lifting mechanisms, container spreaders, electrical equipment, micro-transfer mechanisms, and other auxiliary equipment. RMG cranes are widely deployed in dockyards and rail yards for loading, unloading, movement, and stacking. They are engineered with safety features such as anti-collision systems, load moment indicators, and emergency stop buttons, ensuring safe operations, enhanced efficiency, and cost-effectiveness. Notably, RMG cranes are renowned for their robustness, capable of handling heavy containers and managing significant cargo volumes due to their steel wheels.

Trends Driving the Rail Mounted Gantry Crane Market

The burgeoning global trade and logistics sector are among the principal drivers of market growth. RMG cranes play a pivotal role in handling heavy bulk materials and efficiently stacking and moving shipping containers. The market benefits from widespread adoption due to several advantages, including increased productivity due to faster operations, maneuverability ease, construction flexibility, and the ability to manage large containers and loads. Factors such as urbanization, industrial activities, infrastructure upgrades, and growing demand for efficient bulk handling machinery further propel market growth. Additionally, technological advancements such as automation and digitalization in RMG cranes, reducing human intervention and enabling automatic cargo handling, enhance efficiency, safety, and accuracy. Integrating smart features like remote operation, container positioning systems, and non-contact collision systems contributes to the market's growth. The rising demand for eco-friendly RMG cranes, which aid in emissions reduction and pollution control, is another favorable factor. Increased consumer spending capacity, demand for autonomous RMG cranes and bulk cargo handling, extensive R&D efforts for advanced RMG cranes, and government initiatives to combat pollution contribute positively to the market's outlook.

Key Market Segmentation:

The report provides a comprehensive analysis of key trends within each segment of the global rail mounted gantry crane market, offering forecasts at the global, regional, and country levels from 2023 to 2028. The market is categorized based on type, lift capacity, technology, and application.

Type Insights:

• Cantilever
• Non-Cantilever

The market segmentation includes cantilever and non-cantilever RMG cranes. Cantilever cranes represent the largest segment, according to the report.

Lift Capacity Insights:

• 0-40 Tons
• 40.1 and Above

The lift capacity segment comprises cranes with capacities of 0-40 tons and 40.1 and above. The report highlights that cranes with a lift capacity of 40.1 and above account for the largest market share.

Technology Insights:

• Manual
• Autonomous

Technology segmentation encompasses manual and autonomous RMG cranes. The manual category is identified as the largest segment in the report.

Application Insights:

• Wharf
• Railway
• Others

Applications for RMG cranes include wharf, railway, and others. The railway sector claims the largest market share, as outlined in the report.

Regional Insights:

The report conducts a comprehensive analysis of major regional markets, covering North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Europe emerges as the largest market for rail mounted gantry cranes, driven by extensive R&D efforts, increased trade and logistics, and the adoption of environmentally friendly solutions.

Competitive Landscape:

The competitive landscape analysis includes market structure, market share held by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant. Profiles of major companies are presented, including Anupam Industries Limited, Ascom Spa, Doosan Heavy Industries Vietnam Co. Ltd., Hartmann & Konig Stromzufuhrungs AG, Konecranes Oyj, Liebherr, Mi-Jack Products Inc (The Lanco Group of Companies), Safex Industries Limited, Sany Heavy Industry Co. Ltd., Weihua group, Xinxiang Stonimage Technology Co. Ltd., and others. This is a partial list, and the complete list of companies is provided in the report.

The global rail mounted gantry crane market is on a significant growth trajectory, supported by factors such as the demand for environmentally friendly solutions and continuous technological advancements. The market's expansion is further fueled by increased trade, urbanization, infrastructure development, and growing demand for efficient cargo handling machinery. Europe leads the market, driven by R&D activities and eco-friendly initiatives. Major players in the market focus on innovation and technological advancements to maintain their competitive edge.

For more information about this report visit https://www.researchandmarkets.com/r/4754uf

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets