RMG market valued at $399.7m by 2025

According to a new study, growth of marine transport has resulted in ship owners introducing larger vessels that are capable of transporting a large number of containers simultaneously, driving the need for cranes that can handle multiple containers, at a much faster speed.

The study, by Grand View Research, stated that RMGs are popular for container handling as they are environment-friendly and can run solely on electricity, meeting stringent government regulations pertaining to pollution control.

The incorporation of intelligent systems, such as container positioning system, non-contact anti-collision system, and remote operation, in RMGs has enabled port authorities to reduce operational hazards and attain operational efficiency, while increasing numbers of large-sized vessels are also pressurizing port operators to improve their existing facilities.

The report found that the 0-40 tonnes segment dominated the overall market in 2016. However, the 40.1 and above tonnes segment is expected to reach the highest market share by 2025 and is estimated to grow at the highest compound annual growth rate (CAGR) of 4.6% over the forecast period.

The European market occupied a significant share in the global market and is expected to grow at a CAGR of 3% over the next eight years, but the Asia Pacific regional market is expected to emerge as the fastest-growing market with $155.6m by 2025.