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The rising trend towards handling heavy loads of containers and vessels with a host of technological innovations, most notably smart video monitoring technology and smart cabin is bolstering the market growth. For instance, in May 2018, in Italy, automated rail mounted gantry cranes (ARMG) was installed at APM Terminals Vado Ligure. This cranes are technologically advanced capable of handling six stacked containers remotely by highly specialised operators to ensure an effective, safe and environmentally friendly service for international markets. Similarly, in May 2020, Liebherr Containers Cranes Ltd. delivered two rail mounted gantry cranes at Russia as a part of expansion plans for the intermodal terminal. Apart from this, ease off maneuverability, rising cross-country trading activities, surge in production capabilities is likely to grow the market. In addition to that, planned investments by various port authorities and owners to expand its terminals and future-proofing its business model is turning out to be a potential factor to drive the market. For instance, Peel Ports Group secured its future sustainable growth by investing around USD 481.8 million at the Port of Liverpool’s deep-water container terminal. The group invests to deploy five new cantilever rail-mounted gantry cranes from leading Chinese manufacturer, Zhenhua Heavy Industries Co (ZPMC). However, the global economy is facing a significant downturn triggered by the pandemic COVID-19 outbreak. The sudden lockdown announced across various nations halted the import/exports and other trading activities to a standstill position further impacting the sales of rail mounted gantry cranes. This also further affected the customer and traders lay off settlements, disrubted the cash outlays slowing the product demand.
Key Market Driver -
• Rising trading activities between cross-countries is fueling the market growth • Introduction of intuitive technologies embedded in cranes is creating product demand
Key Market Restraint -
• Requirement of high investments at initial stage is hindering the market growth
Some of the key competitors in the rail mounted gantry cranes market include SANY GROUP, Liebherr, Konecranes, ASCOM S.p.A., Shanghai Zhenhua Heavy Industries Co., Ltd., Doosan Heavy Industries Vietnam Co., Terex Corporation, Mi-Jack Products, MAC PORTMacchineOperatriciPortualis.r.l., TNT Crane & Rigging and others.
Euope holds a dominant position in the rail mounted gantry cranes market owing to rising penetration of energy efficient gantry cranes backed by stringent government regulations, port owners focus to reduce operational costs, flow of foregin direct investments to strengthen the cross-countries trade activities is further responsible for market growth.
Followed by Europe, North America and Asia Pacific are anticipated to witness substantial growth in the forecast period. Th growth is likely to be driven by strong research & development activities to produce technologically advanced cranes configured with smart monitoring solutions further bolstering the product demand.
The Middle East and Africa and South America are expected to have a significant growth in the rail mounted gantry cranes market owing to major suppliers focus to expand and strengthen its sales & distribution channels across developed and developing economies mainly GCC, South Africa, Columbia, Brazil and other nations.
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