RTG crane growth market to reach $1.17bn by 20274 March 2021
Hello and welcome to my first edition as the new editor of Hoist magazine.
The Lifting Equipment Engineers Association (LEEA) has announced that LiftEx 2021 will now be held in Bahrain on September 27-28, 2021, at the Gulf Hotel Bahrain & Convention Centre, returning to the UK the following year in Aberdeen on 5-6 October, 2022.
Speaking about the news, Ross Moloney, CEO, LEEA, said: “While we start 2021 with Covid-19 lockdown restrictions in many areas, the vaccine rollout is underway and we see Autumn 2021 as a time when people will be ready to reconnect. We also recognise supporting an exhibition in the UK in 2021 would be a big ask, given that 2020 was such a difficult year for many.
“Holding this year’s exhibition in Bahrain gives LEEA members a chance to meet with new customers and partners and we expect the 250 members in the Middle East to really support the show. We also hope members from across the globe will attend.”
It’s true, this year and last have not been without their ups and downs but looking ahead, the rubber tyred gantry crane market was valued at $907.79 million in 2019 and is projected to reach $1,168.17 million by 2027; according to Insight Partners and is expected to grow at a CAGR of 3.67% from 2020 to 2027.
Its report claims geographically, the rubber tyred gantry crane market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Europe held the largest share of the global rubber tyred gantry crane market, followed by Asia Pacific and North America, in 2019. Europe’s ports have adopted electric RTGs for reducing pollution and greenhouse gas emissions. Government regulations in this region have enabled the adoption of electrical container handling equipment, such as carbon emission verification in maritime transportation. Also, financial transparency regarding port investments has enabled port authorities to invest strategically in port infrastructure.
In fact, Kalmar recently partnered with Total Terminals International, (TTI) to supply six hybrid RTG cranes at the Port of Long Beach, California, and the Automotive industry is seeing a rise in electric car sales, most recently highlighted by Renault, which plans to launch at least ten electric vehicles, including a Renault 5 prototype, before 2025.
Drop us a line if your company is winning the sustainability mission, reducing pollution and greenhouse gas emissions, we’d love to hear more and highlight your initiatives.
Jennifer Eagle, editor