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Yard Crane Market Size
Yard Crane Market was valued at USD 785.3 million in 2023 and is estimated to register a CAGR of over 5% from 2024 to 2032. The continuous expansion of global trade activities has led to higher cargo volumes, necessitating efficient handling at ports and terminals. Ports worldwide are investing in advanced crane technology to streamline operations and accommodate this growth. Growing trade competition and consumer expectations for faster deliveries necessitate efficient container handling at ports. As global trade continues to expand, the volume of goods being shipped internationally has increased.
Emerging economies are experiencing rapid industrialization and urbanization, leading to higher import and export activities. Ports in these regions enhance their infrastructure to handle the growing trade volumes, including the deployment of modern yard cranes. Governments in emerging economies are prioritizing infrastructure development to boost economic growth. This includes significant investments in port infrastructure to improve logistics and supply chain efficiency, which in turn drives the demand for yard cranes.
Report Attributes | Details |
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Base Year: | 2023 |
Market Size in 2023: | USD 785.3 Million |
Forecast Period: | 2024-2032 |
Forecast Period 2024-2032 CAGR: | 5% |
032 Value Projection: | USD 1.3 Billion |
Historical Data for: | 2021-2023 |
No. of Pages: | 240 |
Tables, Charts & Figures: | 360 |
Segments covered: | Product, Application |
Growth Drivers: |
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Pitfalls & Challenges: |
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Yard cranes, particularly advanced models with greater lifting capacities and automation features, require significant upfront investments. This can be a hurdle for smaller ports or those in developing economies with limited budgets. Operating and maintaining advanced yard cranes requires specialized skills. A shortage of qualified personnel can hinder efficient crane utilization and potentially lead to safety risks. Traditional yard cranes, especially diesel-powered models, contribute to emissions and noise pollution in port areas. Strict safety regulations and environmental compliance standards can add complexity and cost to yard crane operations.
Yard Crane Market Trends
Technological innovations in crane technology are a significant growth driver for the yard crane industry. It includes automation, remote control systems, electrification, and advanced safety features. These advancements enhance the efficiency, safety, and environmental sustainability of yard cranes. Automated yard cranes increase operational efficiency by reducing the need for manual intervention. Innovations such as collision avoidance systems, load monitoring, and real-time diagnostics enhance the safety and reliability of yard crane operations. IoT-enabled yard cranes provide real-time data on crane performance, maintenance needs, and cargo handling operations. The shift towards electric yard cranes reduces carbon emissions and the operating costs associated with diesel-powered cranes.
The yard crane market is significantly influenced by the growing emphasis on sustainability and reducing environmental impact. As environmental regulations become more stringent, port operators are seeking eco-friendly solutions. Companies are increasingly prioritizing sustainability in their operations as part of their CSR initiatives. Using green technologies like electric and hybrid yard cranes aligns with their commitment to environmental stewardship. Governments and international bodies are imposing stricter environmental regulations to curb emissions and promote cleaner technologies.
Yard Crane Market Analysis
![Global Yard Crane Market Size, By Product, 2022 – 2032, (USD Million) Global Yard Crane Market Size, By Product, 2022 – 2032, (USD Million)](https://cdn.gminsights.com/image/rd/hvac-and-construction/global-yard-crane-market-size-by-product-2024-2032.webp)
Based on product, the rubber-tired gantry (RTG) cranes segment accounted for a market share of over 60% in 2023. RTG cranes operate on rubber tires, allowing them to navigate within container yards, maneuver around obstacles, and travel at higher speeds when required. It is automated and remotely controlled, improving productivity and accuracy in container stacking and retrieval. The ability to move flexibly without the need for fixed rails makes RTGs ideal for various applications in ports and container handling facilities. Technological advancements in RTG crane design, such as automation, remote monitoring, and IoT integration, enhance operational efficiency, safety, and maintenance.
![Global Yard Crane Market Share, By Application, 2023 Global Yard Crane Market Share, By Application, 2023](https://cdn.gminsights.com/image/rd/hvac-and-construction/global-yard-crane-market-share-by-application-2024-2032.webp)
Based on application, the ports segment is expected to cross over USD 550 million by 2032. Yard cranes are essential for efficient container handling at ports. These cranes facilitate the loading, unloading, stacking, and transshipment of containers, which is critical for maintaining the flow of goods in and out of ports. The growing trend of containerization in global shipping requires ports to handle more containers efficiently. It increases the demand for yard cranes designed for stacking and moving containers. The adoption of automation and digital technologies in port operations is driving the demand for advanced yard cranes. It can be automated and integrated with terminal operating systems (TOS).
![https://cdn.gminsights.com/image/rd/hvac-and-construction/asia-pacific-yard-crane-market-size-2024-2032.webp https://cdn.gminsights.com/image/rd/hvac-and-construction/asia-pacific-yard-crane-market-size-2024-2032.webp](https://cdn.gminsights.com/image/rd/hvac-and-construction/asia-pacific-yard-crane-market-size-2024-2032.webp)
Asia Pacific region dominated around 40% share of the yard crane market in 2023, driven by the increasing trade volumes, infrastructure development, port automation, and environmental sustainability initiatives. The region is a major hub for global trade, with significant growth in import and export activities. This surge in trade volumes necessitates efficient container handling solutions, driving the demand for yard cranes. Environmental regulations and sustainability initiatives are prompting ports in the region to adopt greener technologies.
Increasing investments in infrastructure development, particularly in ports and logistics sectors, are boosting demand for efficient material handling equipment in North America. Technological advancements such as automation and digitalization are enhancing operational efficiencies and safety standards, further driving market adoption. Rising trade activities and the expansion of e-commerce are fueling the need for robust logistics solutions, increasing the deployment of yard cranes in distribution centers and warehouses. Additionally, stringent regulations focusing on environmental sustainability are prompting the adoption of eco-friendly and energy-efficient crane models across the region.
Yard Crane Market Share
ZPMC and Konecranes are the major players operating in the market. ZPMC is a major player in the yard crane industry. It leverages vast manufacturing capabilities to offer a wide range of RTG and RMG cranes at competitive prices. The company is known for its focus on efficiency and scalability. It caters to large-scale port projects and offers cost-effective solutions for emerging economies. The company is actively expanding its global presence and investing in research & development to enhance its technological offerings.
Konecranes is renowned for their focus on innovation and quality. The company offers a comprehensive range of RTG and RMG cranes. It includes advanced models with automation features and eco-efficient technologies like electric and hybrid power options. Their strong after-sales service network and emphasis on safety and reliability are valued by customers worldwide.
Yard Crane Companies
Major players operating in the yard crane industry are:
- Anhui Heli Co., Ltd.
- Hyster-Yale Materials Handling
- Hyundai Heavy Industries
- KION Group
- Konecranes
- Liebherr Group
- Mitsubishi Heavy Industries
- SANY Group
- Terex Corporation
- Toyota Industries Corporation
Yard Crane Market News
- In May 2024, the Port of Antwerp reported a 5% increase in container traffic year-over-year and announced plans to expand its yard crane fleet to handle the growing volume efficiently. The port invests in new RTG cranes to enhance its container handling capacity.
- In January 2024, the Port of Ho Chi Minh City in Vietnam announced a partnership with international investors to expand its container terminal. This includes the procurement of new yard cranes to improve handling efficiency and support the country’s growing trade volumes.
This yard crane market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and shipments (Units) from 2021 to 2032, for the following segments:
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Market, By Product
- Rubber-tired gantry (RTG) crane
- Rail-mounted gantry (RMG) crane
Market, By Application
- Shipping yards
- Rubber-tired gantry (RTG) crane
- Rail-mounted gantry (RMG) crane
- Ports
- Rubber-tired gantry (RTG) crane
- Rail-mounted gantry (RMG) crane
- Rail yards
- Rubber-tired gantry (RTG) crane
- Rail-mounted gantry (RMG) crane
- Container handling facilities
- Rubber-tired gantry (RTG) crane
- Rail-mounted gantry (RMG) crane
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
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