Container Yard Crane Market Size Growth Opportunities To 2030
According to the Market Statsville Group (MSG), the global container yard crane market size is expected to grow from USD 1,062.0 million in 2022 to USD 1,874.3 million by 2033, at a CAGR of 5.3% from 2023 to 2033.
Rising trading activities is increasing the vessel size and cargo volume adding further pressure on yards and ship berths. Organizations are allocating investments to enhance the facility. Moreover, the increasing electrification of container cranes as an alternative to fuel, backed by stringent government regulations, further escalates global market growth. Technological development, such as automation and external control of cranes via joystick or remote computers, is expected to propel the market growth in the near future. Countries like China, Japan, and others are shifting their interests to automated terminals to cater to the growing market needs, creating growth opportunities.
Global Container Yard Crane Market Dynamics
Drivers: Increase in Cargo Transportation Around the World
Oceans have always been significant as a mode of transportation for people worldwide. Since a few decades ago, ships now transport cargo goods rather than people. Ocean shipping is the primary route of global commerce transportation, accounting for over 90% of all traded products stated by the Organisation for Economic Co-operation and Development. As a result, the oceans serve as the primary transportation corridors for global trade. With the increase in global freight demand, maritime trade volume will increase. Maritime transport is one of a larger set of economic activities that can contribute value to the economy. In early 2021, maritime companies placed a record number of new orders, particularly for container ships, which saw the biggest number of orders in the prior two decades. According to the UNCTAD report, around 274,973 container ships were transported in 2020, and this rose to 281,784 container ships in 2021, which is 2.48% more than last year. Thus, rising cargo transportation around the world has significantly augmented the growth of the container yard crane market.
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Scope of the Global Container Yard Crane Market
The study categorizes the container yard crane market based on type, and application area at the regional and global levels.
By Type Outlook (Sales, USD Million, 2019-2033)
- Rubber Tired Gantry Cranes
- Rail Mounted Gantry Cranes
- Automated Stacking Cranes
By Application Outlook (Sales, USD Million, 2019-2033)
- High Profile Cranes
- Low Profile Cranes
By Region Outlook (Sales, USD Million, 2019-2033)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA
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Rubber Tired Gantry Cranes segment accounts for the largest market share by type
Based on the type, the market is divided into rubber tired gantry cranes, rail mounted gantry cranes and automated stacking cranes. The rubber tired gantry cranes segment accounted for the global container yard crane market’s largest market share of around 74.5% in 2022. RTGs are a type of mobile crane that use rubber tires to move and stack shipping containers. They are highly maneuverable and efficient, making them a popular choice for container yard operations. RTGs are capable of stacking containers up to six high and have a lifting capacity of up to 50 tons. They are also equipped with advanced technology such as GPS and automation systems, making them even more efficient and safe to operate. The growing demand for RTGs is due to their ability to handle a wide range of container sizes and types and their flexibility to operate in different weather conditions. Additionally, RTGs are more cost-effective than other types of container yard cranes, such as ship-to-shore cranes or rail-mounted gantry cranes.
Asia Pacific accounted for the largest market share by Region
Based on the regions, the global container yard crane market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. Asia Pacific accounted for the largest market share of around 47.7% in 2022. The region is home to some of the busiest ports and terminals in the world, such as Shanghai, Singapore, and Hong Kong, which drive the demand for container handling equipment, including container yard cranes. One of the major factors driving the growth of the container yard crane market in the Asia Pacific region is the increasing trade activities and the rise in container traffic in the region. The rapid expansion of ports and terminals in the region and the growing investments in port infrastructure also fuels the demand for container yard cranes. Moreover, significant container yard crane manufacturers in the region contribute to the market’s growth. These manufacturers offer a wide range of container yard cranes with advanced features such as automation and digitalization, further enhancing container handling operations’ efficiency and productivity.
Competitive Landscape: Global Container Yard Crane Market
The container yard crane market is a significant competitor, and extremely cutthroat in the sector is using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.
Major key players in the global container yard crane market are:
- Konecranes
- JASO Industrial Cranes
- Aicrane Machinery Group
- Doosan Heavy Industries Vietnam Co.
- Mi-Jack Products, Inc.
- Mammoet Holding B.V.
- TNT Crane & Rigging
- Shanghai Zhenhua Heavy Industries Co., Ltd.
- Sany Group
- Liebherr
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Recent Development
- In September 2021, Jasco Industrial Cranes inked an agreement with TC/American Crane Company, and post partnership, TC/American Crane company will become the exclusive distributor in the United States to the company. This will enhance the company’s global presence and customer base.
- In September 2019, Konecranes launched S-series cranes to cater to the needs of its vast customer portfolio. The S-series features include variable speed control for all movements and adaptive speed range, which adjusts the maximum lifting speed to the weight of the load for safer and more productive use, and more. This enhanced company’s product portfolio
- In September 2019, Konecranes launched M-series cranes for heavy lifting purposes, with a high-performing and reliable core of lifting components and modular design. Smart features and state-of-the-art user interfaces, such as remote operating stations, are available to increase productivity and safety of use. This enhanced operations and efficiency.