Yard Crane Market

Yard Crane Market Size, Share, Trends, Growth, and Industry Analysis, By Product (Rubber-tired Gantry Cranes (RTGs), Rail-mounted Gantry Cranes (RMGs)), By Application (Shipping Yards, Ports, Rail Yards, Container Handling Facilities) and Regional Insights and Forecast to 2032

Automobile & Transportation | January 2024 | Report ID: EMR00406 | Pages: 301

global yard crane market size was USD 1.87 billion in 2023 and is predicted to reach USD 3.16 billion in 2032, exhibiting at a CAGR of 6.0% during the forecast period.

 

In recent years, the yard crane industry has experienced significant expansion and innovation, growing to become a crucial component of contemporary industrial and logistics processes. Cargo handling has been transformed by these cranes, which are made to handle large loads in cramped areas like airports, warehouses, and ports. Their many forms serve a range of operating purposes, including ship-to-shore (STS), rail-mounted gantry (RMG), and rubber-tired gantry (RTG) cranes. Technological developments have played a key role in improving yard crane capabilities.

 

The efficiency, accuracy, and safety of cargo handling have been maximized by automation, sensor integration, and AI-powered systems. The incorporation of environmentally friendly features has also drawn notice and is in line with global sustainability aspirations. Growing global commerce activities have driven the market's expansion by necessitating quicker and more effective cargo-handling solutions.

 

In addition, the need for yard cranes has increased due to the infrastructure advancements of emerging economies, which seek to enhance their logistical capabilities. Additionally, producers never stop trying to come up with new features and designs to achieve greater load capacities, better energy efficiency, and better safety standards. The future of the yard crane market appears bright, propelled by developments in technology, an increase in international trade, and a persistent emphasis on sustainability and efficiency.

 

 

YARD CRANE MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

1.87 Bn

Projected Market Value (2032)

3.16 Bn

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Product, By Application, & Region

Segments Covered

By Product, By Application, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Yard Crane Market Dynamics

The dynamics of the yard crane market are influenced by a confluence of factors including global trade patterns, technical innovation, and changing customer needs. Innovations in technology continue to be the fundamental driving force behind the creation of more intelligent, eco-friendly, and efficient crane solutions. AI-driven systems, IoT integration, and automation continuously improve operational efficiency, cutting down on downtime and strengthening safety procedures. Yard crane demand is heavily impacted by trends of international trade.

The demand for improved logistical infrastructure is fueled by the growth of international trade, especially in emerging nations, which propels the market for these cranes. Furthermore, the trend towards bigger container ships requires more advanced handling machinery, like larger ship-to-shore cranes, which propels the market's expansion. The market is now concentrating more on sustainability due to environmental concerns. Crane manufacturers are trying to meet strict standards and minimize their carbon footprints by including eco-friendly features into their designs. Furthermore, market dynamics are influenced by geopolitical and economic variables. The market for yard cranes may see changes in the growth trajectory due to changes in trade agreements, tariffs, and geopolitical concerns, which can affect investment decisions. In general, the market's ability to adjust to changes in trade patterns, environmental factors, and technological improvements is what gives it both resilience and growth potential.

 

Global Yard Crane Market Drivers

  • Reduced Downtime & Increased Productivity

The yard crane industry is growing as a result of decreased downtime and higher productivity. These elements have a big influence on operational effectiveness, which directly affects the bottom line of businesses that depend on effective cargo handling. Yard cranes allow for a smooth flow of goods and maximize labor and resource usage by reducing downtime. Technological advances like sensor integration and AI-driven analytics enable predictive maintenance, which leads to benefits in efficiency.

By performing repairs and maintenance on cranes precisely when needed, this proactive approach to maintenance minimizes unplanned breakdowns and idle times. Automation also expedites freight handling procedures and streamlines operations, reducing human error. Reduced downtime naturally leads to increased production. Throughput capacities increase when cranes are functioning at maximum efficiency and with fewer interruptions, allowing companies to handle more freight in the same amount of time. This increases total productivity and makes ports, terminals, and warehouses more competitive so they can handle higher amounts of commodities.

  • Emerging Economies & Infrastructure Development

Developing countries' economies are growing, but they also need to improve their logistics and transportation systems. Yard crane deployment is made possible by the significant investments made in ports, terminals, and distribution centers as a result of this demand. The construction and renovation of ports and terminals, among other infrastructure development projects, are essential to the efficient management of increasing cargo quantities and larger vessels. In these endeavors, yard cranes are essential because they provide solutions that can manage a variety of loads, expedite processes, and maximize space efficiency. Furthermore, industrialization and urbanization in emerging economies frequently happen quickly, which boosts trade. Consequently, the need for sophisticated cargo-handling machinery to enable the efficient transportation of commodities has increased. To meet the changing needs of these markets, producers and suppliers of yard cranes find that this demand becomes a major motivator.

 

Restraints:

  • High Initial Investment & Installation Costs

For many firms, especially smaller ones or those with tighter finances, the substantial upfront cost associated with purchasing and installing yard cranes serves as a barrier. These costs include not just the equipment's purchase price but also those associated with site preparation, infrastructural improvements, and the hiring of specialized staff for setup and installation. A wide range of expenses is also a result of the variety of yard crane types and the unique configurations that they have to meet various operational requirements. Cranes with bigger capacities or innovative technical features, for example, typically have much higher price tags. Finding affordable solutions that satisfy their operational needs without going over budget is difficult for enterprises due to this pricing variety. The initial cost of purchasing a yard crane continues to be a major barrier for prospective customers, despite the obvious long-term benefits of enhanced productivity and efficiency.

  • Regulatory Challenges & Compliance Burden

The construction, deployment, and operation of yard cranes are made more complex and expensive by the need to comply with ever-changing environmental requirements and strict safety standards. Adhering to these requirements frequently necessitates ongoing upgrades and adjustments to crane designs and operations procedures, requiring significant time and resource commitments.

The regulatory environment for producers and operators is further complicated by the fact that different countries and regions have different laws. It becomes logistically difficult to ensure smooth operations across several regulatory frameworks and to comply with many requirements. Environmental regulations also require crane designs to incorporate eco-friendly features to promote sustainability and lower carbon footprints. Even while these programs are essential for long-term environmental advantages, they frequently increase the upfront costs and operational complexity of producing and operating cranes. Overall, the dynamic character of laws of environmental, safety, and operating requirements poses a persistent difficulty for those involved in the yard crane industry.

 

Opportunities:

  • Technological Innovations & Upgrades

Yard crane designs are revolutionized by the incorporation of state-of-the-art technology including automation, artificial intelligence (AI), internet of things (IoT), and sensor systems. These developments open the door to activities involving freight handling that are more accurate, safe, and efficient. Processes are streamlined via automation, which lowers the need for human intervention and increases operational speed. Proactive maintenance plans are made possible by AI and predictive analytics, which save downtime and enhance crane performance. Furthermore, real-time monitoring made possible by IoT and sensor integration enables data-driven decision-making and predictive insights into crane operations.

The development of energy-efficient and environmentally friendly crane technologies is another noteworthy possibility. Technological developments enable the development of ecologically sustainable cranes that minimize carbon footprints and conform to strict requirements. This not only meets the increasing market need for green technologies but also the worldwide sustainability goals. Moreover, continuous technological advancements guarantee that current cranes can be upgraded with additional features, increasing their lifespan and functionalities.

  • Demand for Eco-Friendly & Energy-Efficient Cranes

The market for yard cranes is highly promising due to the growing need for energy-efficient and environmentally friendly cranes, which also coincide with global sustainability goals and spur innovation. This requirement is the result of an industry-wide movement to improve environmental stewardship and lower carbon footprints. More and more people are looking for cranes with environmentally friendly features like regenerative braking, electric powertrains, and energy-saving parts. Meeting strict regulatory standards worldwide and addressing environmental problems present opportunities.

Regulations are being imposed more frequently by governments and business associations to reduce emissions and encourage sustainable practices. Cranes that not only abide by these rules but also provide observable advantages like decreased energy usage and operating expenses for their lives are becoming more and more popular. Furthermore, there is a movement in consumer preferences and corporate responsibility that is reflected in the need for eco-friendly cranes, which goes beyond compliance. Eco-friendly yard cranes are becoming more and more important in procurement decisions as businesses aggressively search for sustainable solutions in their supply chains.

 

Segment Overview

By Product

Based on product, the global yard crane market is divided into rubber-tired gantry cranes (RTGs) and rail-mounted gantry cranes (RMGs). The rubber-tired gantry cranes (RTGs) category dominates the market with the largest revenue share in 2023. Powered by rubber tires, RTG cranes are maneuverable and can travel freely throughout the yard. They can weave between piles of containers because they are incredibly nimble and flexible.

When it comes to deployment and relocation, RTGs are easier than RMGs because they don't need fixed rails. They reduce the initial expenditures of infrastructure because they can function independently without a rail network. Due to their rail-based operation, RMG cranes can travel in a straight line. Compared to RTGs, they have more limited mobility. In order to function, RMGs need a permanent rail network. For effective container handling, they are frequently utilized in longer-term installations that require a consistent and reliable course.

By Application

Based on the application, the global yard crane market is categorized into shipping yards, ports, rail yards, and container handling facilities. The ports category leads the global yard crane market with the largest revenue share in 2023.  Ports are essential hubs for global trade because they act as ports of entry and departure for goods shipped by sea. Yard cranes are essential for port container handling and storage. Yard cranes, including ship-to-shore (STS) cranes, help load and unload containers at ports so they can be moved to storage facilities or other forms of transportation.

The assembling, sorting, and dispatch of trains and freight transported by rail take place at rail yards. Here, yard cranes help organize and manage freight containers so that they may be loaded and unloaded onto trains quickly. Containers are handled by rail-mounted gantry (RMG) cranes and other specialized cranes, which makes it easier for the containers to be loaded onto rail cars for transit. Container handling facilities, which are frequently found in ports or logistics hubs, offer transshipment or temporary storage services and are dedicated to the effective handling and storage of containers. Container handling facilities use both rubber-tired gantry (RTG) and rail-mounted gantry (RMG) cranes to arrange containers in the yard for storage, sorting, and subsequent transit. Shipments are handled directly from ships by shipping yards, which are frequently connected to industrial or distribution facilities. Here, yard cranes are essential for unloading cargo from ships and setting up containers for storage or further movement. Yard cranes in shipping yards ensure timely loading and unloading operations by facilitating the effective transfer of products between ships and other forms of transportation.

 

Global Yard Crane Market Overview by Region

The global yard crane market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific emerged as the leading region, capturing the largest market share in 2023. The region's favorable location as a gateway between the East and the West allows for a great deal of maritime trade. Because of this posture, there have been significant investments made in port infrastructure, and ongoing attempts are being made to modernize and extend terminals to accommodate larger boats and higher amounts of cargo. Therefore, to maximize container handling operations, there is a constant demand for sophisticated, effective yard crane systems. Further driving the need for yard cranes in shipping yards and logistics hubs are the growing industrial sector in Asia-Pacific and the growth of e-commerce. The adoption of creative crane solutions has also been aided by the region's focus on automation and technical improvements to increase operational efficiency.

Throughout the forecast period, North America is anticipated to post a significant CAGR. Advanced yard crane solutions are in high demand due to the region's focus on improving port efficiency, rising trade activities, and the need to modernize logistical infrastructure. More advanced and efficient crane systems are being adopted as a result of technology advancements, especially in automation and IoT integration. These factors, together with initiatives to support bigger ships and maximize cargo handling capabilities, support the significant compound annual growth rate (CAGR) that is predicted for the yard crane market in North America. For instance, the Port of Long Beach in the United States can handle the biggest contemporary ships. It connects 175 shipping lines to 217 seaports worldwide. The Port handled approximately 9.1 million container units in 2022, which was its second-busiest year ever. The expansion of online retail and rising e-commerce activities in North America are driving significant growth in the logistics and transportation sector.

 

 

Global Yard Crane Market Competitive Landscape

In the global yard crane market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global yard crane market include,

  • Kato Works Co., Ltd.
  • Andritz
  • Cargotec Corporation
  • Konecranes
  • LIEBHERR
  • Palfinger AG
  • Sany Group
  • Tadano Ltd.
  • Terex Corporation
  • The Manitowoc Company, Inc.
  • XCMG Group, and various others.

 

Global Yard Crane Market Recent Developments

  • In June 2023, Konecranes gained access to a large installed base of Munck's industrial cranes in Norway and beyond, as well as new customers, owing to the acquisition of Munck Cranes AS's industrial crane servicing activities. With global component export activities, Munck Cranes AS is a well-known industrial crane and crane service supplier in Norway.
  • In March 2023, Terex Rough Terrain Crane was purchased by Hungarian company Grin Bau. With the help of their team, which has over 17 years of professional expertise and was created in 2019, the Hungarian firm Grin-Bau Kft. purchased an RT 1045L Rough Terrain Crane, which Terex Rough Terrain just acquired. The RT 1045L that is being delivered will assist Grin-Bau in creating industrial, agricultural, and reinforced concrete structures in addition to other professional operations.
  • In January 2023, Larsen & Toubro Ltd. (L&T) and Konecranes Plc signed into a licensing agreement for the production and distribution of the former company's cranes in India. By virtue of the agreement, L&T will use its manufacturing skills and local knowledge to produce and market port cranes for Konecranes, including manually driven Rubber-Tired Gantry cranes, Rail-Mounted Gantry cranes, and shipyard cranes.

 

Scope of the Global Yard Crane Market Report

Yard Crane Market Report Segmentation

ATTRIBUTE

DETAILS

By Product

  • Rubber-tired Gantry Cranes (RTGs)
  • Rail-mounted Gantry Cranes (RMGs)

By Application

  • Shipping Yards
  • Ports
  • Rail Yards
  • Container Handling Facilities

 

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Yard Crane Market Size and Forecast: To identify and estimate the market size for the global yard crane market segmented by product, by application, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of yard crane between 2019 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global yard crane market
  • Market Influencing Factors: To find out the factors which are affecting the sales of yard crane among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global yard crane market affected by the pandemic
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

  • Industry Professionals
  • Government and Regulatory Bodies
  • Research and Development Teams
  • Academic and Educational Institutions
  • Governments, Associations, and Industrial Bodies
  • Investors and Trade Experts

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

On the basis of Geography, The yard crane market is classified into North America, Europe, Asia Pacific, and the Rest of the world.
According to yard crane market research, the market is expected to grow at a CAGR of 6.0% over the coming years.
North America is expected to register the highest CAGR during 2024 - 2032
Asia-Pacific held the largest share in 2023.
The major players operating in the global yard crane market include Kato Works Co., Ltd.; Andritz; Cargotec Corporation; Konecranes; LIEBHERR; Palfinger AG; Sany Group; Tadano Ltd.; Terex Corporation; The Manitowoc Company, Inc.; XCMG Group ,and various others.