SAN FRANCISCO, June 5, 2017 /PRNewswire/ --
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.
Browse full research report with TOC on "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" at: http://www.grandviewresearch.com/industry-analysis/rail-mounted-gantry-rmg-crane-market
Further key findings from the report 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
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Grand View Research has segmented the global RMG crane market based on lift capacities and regions:
- RMG Crane Lift Capacity Scope (Revenue, USD Million; 2014 - 2025)
- 0 - 40 tons
- 40.1 & above tons
- RMG Crane Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
- North America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.