Autonomous Cranes Market Statistics 2032 -
The global autonomous crane market is expected to be valued at $2,365.2 million in 2022, and is projected to reach $18,618.5 million by 2032, registering a CAGR of 22.8%. North America is projected to be the highest revenue contributor, accounting for $1,206.71 million in 2022, and is estimated to reach $9,029.95 million by 2032, with a CAGR of 22.5%. Asia-Pacific is estimated to reach $6,944.7 million by 2032 at a significant CAGR of 24.7%.
Autonomous cranes refer to mechanical equipment attached with a set of wire ropes, sheeves, or chains hoist ropes along with utilization of smart technology enabled software and hardware, such as artificial Intelligence (AI) and machine vision, utilized for material handling applications. Autonomous crane is a new generation solution that deals with lifting and transporting the heavy materials along with several benefits such as collision avoidance, time, and operational effectiveness. Autonomous crane is in the introductory phase and majority of the market participants are involved in product development activities to cater to the specific requirement of end users. Autonomous cranes can be operated from a control room from where the operator can supervise crane activities along with high level of safety and comfort.
Factors, such as rise in focus toward public–private partnerships (PPPs) and growing penetration of smart technology in cranes, are expected to drive the growth of the autonomous cranes market. However, unstable prices of raw materials and limited availability of skilled workers restrain the market growth. On the contrary, entering into agreements and contracts for long-term business opportunities is projected to offer lucrative growth opportunities for the market players.
The global autonomous cranes market is segmented on the basis of business type, mobility, end user vertical, and region. By business type, it is bifurcated into OEM and aftermarket. On the basis of mobility, the market is divided into static and mobile. On the basis of end user vertical, it is categorized into building & construction, marine & offshore, mining & excavation, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Leading players and their key business strategies have been analyzed in the report to gain a competitive insight into the market. Key players covered in the report include AIDrivers Ltd, Cargotec Corporation, Columbus McKinnon, INTSITE Ltd., Komatsu Ltd., Konecranes Plc, Schneider Electric, SMIE, Syracuse, and VOCA.
By Mobility
Mobile segment is projected as the most lucrative segments
Rise in focus toward public–private partnerships (PPPs)
Lack of funding from government is a major hurdle for infrastructural development majorly in developing nations. Infrastructure development is a major factor promoting rapid urban growth. The infrastructure gap is the end result of lack of financial resources as well as efficient channels for mobilization of resources toward development. Public–private partnerships (PPPs) have been an effective method for channeling private funds for infrastructural development in various countries. According to a report published in January 2019 by the Asian Development Bank (ADB) and the Korea Development Institute, the private participation in infrastructure database has over 6,400 PPP infrastructure projects, which have minimum 20% private ownership. PPPs are unevenly distributed across Asia, over 70% are in South Asia and East Asia, where China and India constitute around 90% share. In addition, the database for PPP projects, which reached closure in Asia during 1991 and 2015 exhibited a CAGR of 11%. The infrastructure sector is a major consumer of cranes and thus, the development of the sector boosts the demand for cranes. Moreover, changing infrastructural sector requirements, including improved safety and operational efficiency are expected to spur the demand for autonomous cranes, thereby driving the market growth.
By Mobility
Mobile segment is projected as the most lucrative segments
Limited availability of skilled workers
High demand for skilled labor in manufacturing has forced manufacturing companies to hire people on higher wages, thereby incurring high expenses only on the workforce. Attributed to this, organizations are highly understaffed causing overworking of employees and job dissatisfaction. Furthermore, the implementation of smart technology enabled cranes, such as autonomous as well as fully-automated cranes, in the industrial landscape is evolving, which, in turn, is expected to increase the requirement of skilled, trained, and qualified applications. These systems require trained workforce for effective operations of autonomous cranes. In the U.S., the unemployment rate fell by 3.6% in April 2019, whereas the U.S. manufacturing index exhibited slow growth rate of expansion. These factors are expected to restrain the growth of the global autonomous cranes market.
By End User Vertical
Building and Construction segment is projected as the most lucrative segments
Entering into agreements and contracts for long-term business opportunities
Heavy equipment service providers, infrastructure development players, the government, and others are expected to create a demand for autonomous crane solutions, owing to operational effectiveness along with improved safety. Moreover, autonomous crane is in the initial phase and are made to order product lines, which are mostly built in less units along with signed contracts and agreements. The commencement of the autonomous crane solution is expected to be carried out through contracts and agreements between end users and developers of autonomous cranes. These contracts mention a set of requirements that must be met in a certain timeframe. These contracts and agreements are associated with long-term business opportunities with end users. Market participants need to focus on winning the contracts and agreements to gain a competitive advantage in the global market.
By Region
Asia-Pacific would exhibit the highest CAGR of 24.7% during 2023-2032.
Key Benefits For Stakeholders
- This study presents analytical depiction of the global autonomous cranes market analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall autonomous cranes market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities of the market with a detailed impact analysis.
- The current market is quantitatively analyzed from 2023 to 2032 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By Mobility
- Static
- Mobile
By Business Type
- OEM
- Aftermarket
By End User Vertical
- Building & Construction
- Marine & Offshore
- Mining & Excavation
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- AIDrivers Ltd
- Cargotec Corporation
- Columbus McKinnon
- INTSITE Ltd.
- Komatsu Ltd.
- Konecranes Plc
- Schneider Electric
- SMIE
- Syracuse
- VOCA
Autonomous Cranes Market Report Highlights
| Aspects | Details |
 By BUSINESS TYPE |
|
 By MOBILITY |
|
 By END USER VERTICAL |
|
 By Region |
|
 Key Market Players | INTSITE Ltd., KOMATSU LTD, VOCA, AIDRIVERS LTD, SCHNEIDER ELECTRIC, SMIE, Syracuse, KONECRANES PLC, CARGOTEC CORPORATION, COLUMBUS MCKINNON CORPORATION |
Analyst Review
The global autonomous cranes market is expected to witness significant growth, owing to adoption of autonomous cranes in various applications such as building & construction, marine & offshore, mining & excavation and increase in trend of AI based equipment solutions. In addition, trained and skilled labor is required for operation of the autonomous cranes as it is associated with complicated configurations, along with set of critical function handling. In addition, building and construction is a leading consumer of the autonomous crane solutions. It is expected to hold a leading market share in the global autonomous cranes market.
The global autonomous cranes market is a fairly consolidated market in which countable market participants are operating in the global market. Numerous developments have been carried out by top companies, such as INTSITE Ltd, VOCA, SMIE, Aidrivers which supplements growth of the global autonomous cranes market.
The global autonomous cranes market is expected to be $2,365.18 million in 2022, and is projected to reach $18,618.45 million by 2032, registering a CAGR of 22.8%.
Entering into agreements and contracts for long term business opportunities is the key trand in the global market
The report sample for global autonomous cranes market report can be obtained on demand from the website.
INTSITE Ltd, VOCA, Schneider Electric are the leading market players of the global market in terms of developments, presence and focus on the autnomous crane technology
Market players has focused towards the product developmenrt and expansion strategies, it is expected to continue in the near future
The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated
Increase in penetration of AI based technology, and growiing concern towards workplace saftey are the leadig drivers of the global market ehich create significant opportunity in the near future.
AIDrivers Ltd, Cargotec Corporation, Columbus McKinnon, INTSITE Ltd., Komatsu Ltd., Konecranes Plc, Schneider Electric, SMIE, Syracuse, and VOCA are the manufacturer of technology , companents and system
AIDrivers Ltd, Cargotec Corporation, Columbus McKinnon, INTSITE Ltd., Komatsu Ltd., Konecranes Plc, Schneider Electric, SMIE, Syracuse, and VOCA are the manufacturer of technology , companents and system
U.S., Germany and China are the key matured markets growing in the autonomous cranes market
Rise in focus toward public–private partnerships (PPPs), Growing penetration of smart technology in crane, and Unstable prices of raw materials are the known and unknown adjacencies impacting the autonomous cranes market
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