PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1407976
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1407976
Global Yard Crane Market is valued at approximately USD 1.63 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2023-2030. 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.
This remarkable upswing in global trade activity has translated into an escalating need for efficient logistics and cargo-handling solutions. Yard cranes, integral components of the transportation and logistics industry, play a pivotal role in facilitating the seamless movement of goods within ports, terminals, and logistics hubs. According to data from the World Trade Organization, global trade in goods surged by 12% to reach a total of USD 25.3 trillion in 2022 as compared to year 2021. As a result, international trade in commercial services also demonstrated substantial growth, with a 15% increase, resulting in a combined value of USD 6.8 trillion for the same year. This robust growth in global trade is expected to be a significant catalyst for the increasing demand for yard cranes in the forecastedg years. Moreover, rising technological advancement and rising development of major transhipment hubs are creating new opportunities for market growth. However, the high cost of yard cranes and strict safety and operational regulations in the yard crane industry stifled market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Yard Crane Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in 2022 owing to increased involume 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 objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable