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Yard Crane Market Trends

Report ID: GMI7328
Published Date: Jul 2024
Report Format: PDF

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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.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of yard crane was reached USD 785.3 million in 2023 and is estimated to register a CAGR of 5% between 2024 and 2032, backed by the increasing investments in replacing rail-mounted gantry cranes, alongside growing trade competition and consumer expectations for faster deliveries.

The ports segment is expected to reach USD 550 million by 2032, owing to the ongoing expansion and modernization of port infrastructure, in tandem with growing trend of containerization, and adoption of automation and digital technologies in port operations.

Asia Pacific led the yard crane market with a major share of over 40% in 2023 and will continue to grow driven by increasing trade volumes, infrastructure development, port automation, and environmental sustainability initiatives.

Anhui Heli Co., Ltd., Cargotec Corporation, CVS Ferrari S.p.A., Gottwald Port Technology GmbH, Hoist Liftruck Mfg., Inc., Hyster-Yale Materials Handling, Inc., Hyundai Heavy Industries Co., Ltd., KION Group, Konecranes, and Liebherr Group.