As a global crane service provider, Dongqi strives to participate in the competition of crane market share in various countries. At present, Dongqi has cooperated with crane projects in more than 60 countries. In the process of participating in market competition, we also pay special attention to the changes in the market competition landscape. In this article, we will discuss the changes in the market competition landscape of rail gantry cranes (RMG) under the influence of COVID-19.
Global Rail Mounted Gantry (RMG) Cranes Market to Reach $378.6 Million by 2027
Amid the COVID-19 crisis, the global market for Rail Mounted Gantry (RMG) Cranes estimated at US$311.7 Million in the year 2020, is projected to reach a revised size of US$378.6 Million by 2027, growing at aCAGR of 2.8% over the period 2020-2027. 0-40 Tons, one of the segments analyzed in the report, is projected to record 1.7% CAGR and reach US$188.2 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the 40.1 & above Tons segment is readjusted to a revised 4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $84.3 Million, While China is Forecast to Grow at 5% CAGR
The Rail Mounted Gantry (RMG) Cranes market in the U.S. is estimated at US$84.3 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$75.5 Million by the year 2027 trailing a CAGR of 5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japón y Canadá, each forecast to grow at 0.8% and 2% respectively over the 2020-2027 period. Within Europe, Alemania is forecast to grow at approximately 1.3% CAGR
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