Dec 28, 2017 SOURCE: BusinessWire

Global Rail Mounted Gantry (RMG) Crane Market - Forecast to Grow at a CAGR of 4.1% 2017-2021 - Research and Markets

The "Global Rail Mounted Gantry (RMG) Crane Market 2017-2021" report has been added to Research and Markets' offering.

The analysts forecast the global rail mounted gantry crane market to grow at a CAGR of 4.12% during the period 2017-2021.

The report, Global Rail Mounted Gantry Crane Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.

The latest trend gaining momentum in the market is laser-based guidance systems in RMG cranes. RMG crane vendors are working on automatic positioning systems in containers. This will help cargo handlers in the port to arrange cargo containers swiftly and accurately. This automated positioning system will be based on laser-based guiding systems, where sophisticated sensors are mounted on the crane to detect the position of the moving parts, the load, and the target destination. These sensing systems contain encoders and scanning laser rangefinders.

One of the major drivers for this market is the projected growth in global trade. The plunge in global crude oil prices during 2012-2015 reduced the import and export of goods in oil-producing countries. The countries to suffer worst were Middle East countries such as Saudi Arabia and Qatar. Merchandise exports to Saudi Arabia and Qatar declined by 47.59% and 41.87%, respectively, during 2012-2015, as the economies of these countries are majorly dependent on crude oil. This affected their trade activities negatively. It also had an adverse impact on global trade growth. But since the beginning of 2016, global crude oil prices have witnessed stabilization. According to the World Bank, crude oil prices will witness a growth trend during 2017-2021, which is expected to increase global trade.

Key vendors